How to trade cryptocurrency in the USA?
All of our readers from the United States are probably wondering how to do cryptocurrency trading in 2020. This is a rather topical issue since trading brings tremendous profit. With the right approach and taking into account all the subtleties, trading in coins can bring numbers comparable to mining income. The main thing is to carefully understand the issues and gradually develop in this difficult issue. We recommend starting with the basics. For example, is digital trading legal in the USA? How can I trade cryptocurrency in the USA? Next, we will answer these basic questions, so read carefully. The material requires a responsible approach. So let’s get started.
Is it legal to trade cryptocurrency in the USA?
For the first time, thinking about the beginning of a trader’s career, everyone will first of all think whether such activity is legal in the territory of a particular state. In the case of the United States, everything is legal. Bitcoin and Blockchain originated in the United States, it was local specialists who were the first to introduce working variations of decentralized monetary assets. And it was in the United States that digital money found the most popularity. So it is not surprising that the state clearly designated cryptocurrencies in the legal sense. In the documents of the FBI and the Commission on Financial Crimes, Bitcoin and similar coins are recognized as “decentralized virtual currencies”. Work with such money is allowed, but only with strict licensing. Do not worry, paperwork is necessary for exchanges. The sites are required to provide regular reports on financial transactions. Thus, law enforcement agencies are fighting money crimes.
Since exchanges work, it means that everyone can start their activities on such sites. Note that the United States obliges exchanges to immediately inform the appropriate authorities of all suspicious transactions. Thus, money frauds become almost impossible. We strongly recommend working only honestly and only within the law. Now that we get the answer to the question “is cryptocurrency trading illegal in the United States», we can move on to more practical points. Let’s discuss the platforms that are suitable for starting your own work.
The best platform to trade cryptocurrency in the USA
Having learned about the legality of trading, it is logical to ask a question – what cryptocurrency trading platform can I use in the United States? The safety and efficiency of your work depends on the reliability of the site used, so only trusted resources should be preferred. All exchanges registered in the United States are thoroughly inspected and closely regulated by law. So there is no doubt in the reliability of the following platforms:
- Bittrex A well-known platform. The exchange has been operating since the distant 2014. Since its launch, the company has been actively developing and has an impeccable reputation. No gray schemes, excellent tools, a large number of currency pairs, and small commissions. All this is about Bittrex, which you can start working with today. The exchange is open not only to Americans but also to traders from around the world;
- Kraken. One of the oldest sites. The progenitor of many cryptocurrency platforms, this exchange has been helping in serious trading since 2011. For all the time of existence, the company has never spoiled its own reputation. The large and strong name of the company allows you to easily use the services of the American exchange;
- Poloniex Our top three is closed by a fairly popular platform among American traders. A large number of supported currencies, minimal fees, and a convenient mobile application underline the advantages of Poloniex;
Of course, other platforms that provide services in the United States are also open to American traders. It’s about industry giants like Binance and Bitfinex. So, answering the question “what cryptocurrency trading platform can I use in the United States”, you can call almost any exchange, because the vast majority of platforms operate in the United States. The above are just some of the best site to trade cryptocurrency in United States, you will make the specific choice yourself in the course of your future work.
Software to trade cryptocurrency in the USA
To fully work with cryptocurrencies, certain programs are simply necessary. High-quality technical equipment will allow you to easily carry out operations at the most favorable rates. The most popular market solutions are available for American traders, there are no restrictions. Choose and compose a work environment that is comfortable and understandable to you personally. Then success will not keep itself waiting, and each transaction will begin to make a profit.
So, now you know whether it is possible to engage in trading in the United States and how to start such an activity. Try, experiment and do not be afraid to make mistakes, because we all started small. We wish you good luck and have no doubt that your efforts will be justified!