- An exchange serving US residents must register with FinCEN as a money services business and needs a license in most states. In New York it needs a BitLicense or a trust charter.
- All eleven exchanges below appeared in FinCEN’s register on 7 October 2026. Six of them hold a New York license or trust charter; Kraken, Crypto.com, Binance.US, Uphold and River do not serve New York, or only in part.
- Fees differ a lot: from 0% for some recurring buys to more than 2% for a small purchase in an app, and many exchanges add a spread they do not publish.
- Crypto at an exchange is not covered by FDIC deposit insurance, and SIPC does not protect crypto that is not a security.
This page compares crypto exchanges and apps that serve residents of the United States and explains how to check one. We do not rank or recommend any exchange, and there are no affiliate links. Fees change often: the figures below are what each exchange published on its own pages on 7 October 2026. Registration and licenses come from the FinCEN and New York registers. The rules behind them are on regulation.
Who may serve you
A business that exchanges or transmits crypto for customers must register with FinCEN as a money services business (MSB). Registration is not a license or an approval: FinCEN says that inclusion in its register “is not a recommendation, certification of legitimacy, or endorsement of the business by any government agency”. Most states also require a money transmitter license, and New York requires a BitLicense or a limited purpose trust charter from its Department of Financial Services (NYDFS). These are widely used exchanges and apps, with what the registers showed on 7 October 2026:
| Exchange | Legal entity | FinCEN MSB register (sign date) | New York (NYDFS register) |
|---|---|---|---|
| Binance.US | BAM Trading Services Inc. | Registered (21 May 2025) | Not listed; does not serve New York |
| Bitstamp | Bitstamp USA, Inc. | Registered (30 July 2025) | Virtual currency license (April 2019) |
| Cash App | Block, Inc. | Registered (5 November 2025) | Virtual currency and money transmitter license (June 2018) |
| Coinbase | Coinbase, Inc. | Registered (1 November 2024) | Virtual currency and money transmitter license (January 2017); Coinbase Custody Trust Company has a trust charter |
| Crypto.com | Foris DAX, Inc. | Registered (29 April 2026) | Not listed; does not serve New York |
| Gemini | Gemini Trust Company, LLC and Gemini Moonbase, LLC | Both registered (22 December 2025) | Gemini Trust Company: limited purpose trust charter (October 2015) |
| Kraken | Payward Interactive, Inc. | Registered (11 August 2026) | Not listed; does not serve New York |
| PayPal | PayPal, Inc. and PayPal Digital, Inc. | Both registered (17 July 2025 and 10 December 2025) | PayPal, Inc.: virtual currency and money transmitter license; PayPal Digital: trust charter (May 2024) |
| River | River Financial Inc. | Registered (12 August 2026) | Not listed; does not serve New York |
| Robinhood Crypto | Robinhood Crypto, LLC | Registered (6 May 2026) | Virtual currency and money transmitter license (January 2019) |
| Uphold | Uphold HQ Inc. | Registered (19 May 2026) | Not listed; in New York only selling crypto is possible |
The FinCEN date is the date the registration form was signed; MSBs renew every two years, so a recent date does not mean a new business. The New York dates are from the NYDFS register of regulated entities. Which other states an exchange is licensed in can be checked in NMLS Consumer Access (see how to check). Some exchanges also exclude other states: Kraken does not serve Maine, River does not serve Nevada, and Binance.US lists eleven other unsupported states on its own pages.
Not in a register
Binance’s global exchange is a different business from Binance.US. On 21 November 2023 FinCEN announced a $3.4 billion civil money penalty against Binance for violations of the Bank Secrecy Act, and the CFTC a settlement of $2.85 billion. A search in the FinCEN register also returns look-alike businesses with names close to Gemini, Kraken and River that are not these exchanges: check the exact legal entity you sign up with.
Fees compared
The table shows what each exchange’s own pages said on 7 October 2026, for a normal customer at the lowest fee level. “Simple buy” is the buy button in the app; “advanced” is the order book (maker / taker). A spread is the difference between the buying and selling price and is an extra cost on top of the fee. ACH is the standard US bank transfer. “Not found” means we could not find or read the figure on the exchange’s own pages.
| Exchange | Simple buy | Advanced (maker / taker) | ACH deposit / withdrawal | Debit card | Bitcoin to your own wallet |
|---|---|---|---|---|---|
| Binance.US | Spread built into the price; size not stated | 0% / 0.02% | Free / free | 3.99% | Yes, variable fee shown before you confirm |
| Bitstamp | Spread 1.8% plus 0–0.5% when markets are volatile | 0.30% / 0.40% | Free / free | 4% | Yes, variable fee |
| Cash App | 2.0% under $500, 1.5% to $999, 0.9% to $1,999, 0% from $2,000; spread 0–0.75% | – | Free / free (standard) | Not found | Yes, free at standard speed |
| Coinbase | Fee shown in the trade preview plus a spread; rate not found | Not found (shown after login) | Free / free (its Exchange help pages) | Not found | Yes, estimated network fee; Lightning 0.2% |
| Crypto.com | Spread included in the price; size not stated | 0.25% / 0.50% | Free / free | 1.49% (top-up) | Yes, fee shown in the app only |
| Gemini | Fee plus a spread; rate not found | 0.60% / 1.20% | Free / free | 3.49% | Yes, dynamic fee |
| Kraken | 1% (1.5% for custom orders) plus spread | 0.40% / 0.80% | Free / free | Shown at confirmation | Yes, 0.000015 BTC; Lightning 0.1% |
| PayPal | 2.20% under $75, 2.00% to $200, 1.80% to $1,000, 1.50% above, plus spread | – | Not found / free (standard) | Not found | Yes, network fee |
| River | 1.00%; recurring buys 0%; spread about 0.25% | – | Free / free (standard) | No card purchases | Yes, one free send per month |
| Robinhood Crypto | No commission; $0.95 per $100 included in the spread | 0.50% / 0.95% (exchange routing) | Free / not listed as a fee | $0 (deposit) | Yes, network fee only |
| Uphold | Spread 2.05–2.2% for bitcoin and ether, 2.85–3.8% for other coins | – | Free / free (standard) | 3.99% | Yes, 0.00004 BTC |
A few things the table does not show:
- Instant withdrawals of dollars usually cost extra, for example 1.50% at Kraken (maximum $50), up to 1.75% at Robinhood and Uphold, 1% at River and 0.5–2.5% at Cash App.
- PayPal adds 1% if you buy and send crypto in one step.
- Cash App charges no fee on Auto Invest buys and no spread on buys of $2,000 or more.
Features compared
| Exchange | Number of assets (its own claim) | Staking in the US | Recurring buy | Bitcoin Lightning |
|---|---|---|---|---|
| Binance.US | 190+ or 200+ (its pages differ) | Yes, 20+ assets | Yes | Not found |
| Bitstamp | 100+ | No | Not found | Not found |
| Cash App | Bitcoin (and stablecoins) | No | Yes | Yes |
| Coinbase | Not found | Yes; no new staking in CA, MD, NJ and WI | Yes | Yes |
| Crypto.com | Not found for the US | Yes, not in NY, CA, MD, NJ and WI | Yes | Not found |
| Gemini | 260 | Yes, in certain states | Yes | No |
| Kraken | 200+ | Yes (17 assets), not in ten states including CA, NJ and TX | Yes | Yes |
| PayPal | Not found | Not found | Yes | Not found |
| River | 1 (bitcoin) | No | Yes | Yes |
| Robinhood Crypto | Not found | Yes (25% commission), not in CA, MD, NJ and WI | Yes | No |
| Uphold | 300+ | Yes, with state limits | Yes | Not found |
Staking through an exchange means the exchange or its partner holds your coins, which adds risk. How staking rewards are taxed is on personal tax.
How to check a provider
- Look up the legal entity in FinCEN’s MSB Registrant Search. Check the exact name: look-alike names exist. The data is self-reported and registration is not an endorsement.
- Check your state license in NMLS Consumer Access, which its operators describe as “a free service for consumers to confirm” that a company “is authorized to conduct business in their state”. Search by the NMLS ID on the exchange’s licenses page.
- In New York, check the NYDFS list of regulated virtual currency entities.
- Read the fee page before you deposit. Look at the spread as well as the fee, and at the cost of withdrawing coins and dollars.
Enforcement actions
Regulators have published these measures against exchanges in this table (official press releases; amounts and dates as stated there):
| Provider | Measure |
|---|---|
| Binance (global group) | FinCEN civil money penalty of $3.4 billion and CFTC settlement of $2.85 billion (November 2023). The SEC case against Binance and BAM Trading was dismissed with prejudice on 29 May 2025 |
| Coinbase, Inc. | NYDFS settlement of $100 million: a $50 million penalty and $50 million in compliance investment (4 January 2023). The SEC civil action was dismissed in February 2025 |
| Payward (Kraken) | CFTC penalty of $1.25 million (September 2021); SEC settlement of $30 million over staking (February 2023). A later SEC case was dismissed with prejudice in March 2025 |
| Robinhood Crypto, LLC | NYDFS penalty of $30 million (2 August 2022) |
| Gemini Trust Company | NYDFS fine of $37 million and commitment to return at least $1.1 billion to Earn customers (28 February 2024); CFTC penalty of $5 million (January 2025). The SEC Earn case was dismissed with prejudice in January 2026 |
| Block, Inc. (Cash App) | $80 million penalty from 48 state regulators (January 2025); CFPB order of $75 million to $120 million in redress plus a $55 million penalty (January 2025); NYDFS penalty of $40 million (April 2025) |
| Uphold | OFAC settlement of $72,230.32 for apparent sanctions violations (March 2023) |
We found no such federal or NYDFS action against Crypto.com, Bitstamp USA, River or PayPal in a search of official sites; that does not prove there is none.
If an exchange fails
There is no federal guarantee scheme for crypto:
- FDIC. The FDIC says deposit insurance “does not apply to” crypto assets, and does not protect against the default, insolvency or bankruptcy of non-bank crypto custodians, exchanges, brokers or wallet providers. Under the GENIUS Act, payment stablecoins are not covered by deposit insurance either.
- SIPC. SIPC protects customers of failed brokerage firms, but “does not protect any digital or crypto asset that does not qualify as a ‘security’”, and not even unregistered digital asset securities held at a SIPC member.
- State rules. State licenses require things like net worth and surety bonds, but these differ by state and are not a guarantee of your coins.
Read the user agreement to see who holds your coins (the exchange itself, a trust company or a partner) and whether they are kept separate. Coins in your own wallet do not depend on an exchange at all; the rules for that are on regulation.
Where to complain
- The exchange first. Use its own complaints procedure and keep a record.
- The Consumer Financial Protection Bureau (CFPB). Its complaint form covers “money transfers, virtual currency, and money services”.
- Your state regulator. In New York, the Department of Financial Services takes consumer complaints through its portal.
- Fraud. Report scams to the FBI’s IC3, the FTC, the SEC or the CFTC (see where to report).
- Court or arbitration. Check the user agreement first: it sets out how disputes are resolved.
Sources
- FinCEN: MSB Registrant Search (searched 7 October 2026) (last checked October 2026)
- NYDFS: Virtual currency businesses, regulated entities (last checked October 2026)
- NMLS Consumer Access (last checked October 2026)
- eCFR: 31 CFR 1022.380, registration of money services businesses (last checked October 2026)
- FinCEN: Settlement with Binance (21 November 2023) (last checked October 2026)
- CFTC: Press release 8825-23 (Binance) (last checked October 2026)
- SEC: Litigation release 26316 (Binance dismissal) (last checked October 2026)
- NYDFS: Settlement with Coinbase (4 January 2023) (last checked October 2026)
- SEC: Press release 2025-47 (Coinbase dismissal) (last checked October 2026)
- CFTC: Press release 8433-21 (Kraken) (last checked October 2026)
- SEC: Press release 2023-25 (Kraken staking) (last checked October 2026)
- SEC: Litigation release 26278 (Payward dismissal) (last checked October 2026)
- NYDFS: Penalty for Robinhood Crypto (2 August 2022) (last checked October 2026)
- NYDFS: Settlement with Gemini Trust Company (28 February 2024) (last checked October 2026)
- CFTC: Press release 9031-25 (Gemini) (last checked October 2026)
- SEC: Litigation release 26465 (Gemini Earn dismissal) (last checked October 2026)
- CSBS: State regulators’ $80 million penalty against Block, Inc. (last checked October 2026)
- CFPB: Enforcement action, Block, Inc. (last checked October 2026)
- NYDFS: Penalty for Block, Inc. (10 April 2025) (last checked October 2026)
- OFAC: Settlement with Uphold HQ Inc. (March 2023) (last checked October 2026)
- FDIC: Fact sheet on crypto companies and deposit insurance (last checked October 2026)
- SIPC: What SIPC protects (last checked October 2026)
- CFPB: Submit a complaint (last checked October 2026)
- NYDFS: File a complaint (last checked October 2026)
Exchange pages (not official sources)
Fees, features and the states served come from each exchange’s own pages, checked on 7 October 2026. They are the exchange’s own statements, not checked by a regulator.
- Binance.US: Fees (last checked October 2026)
- Binance.US: Supported states (last checked October 2026)
- Bitstamp: Fee schedule (last checked October 2026)
- Bitstamp: Bitstamp USA, Inc. legal information (last checked October 2026)
- Cash App: Bitcoin fees (last checked October 2026)
- Cash App: Terms of service (last checked October 2026)
- Coinbase: Fees (help center) (last checked October 2026)
- Coinbase: Licenses (last checked October 2026)
- Coinbase: Staking eligibility (last checked October 2026)
- Crypto.com: Exchange fees and limits (last checked October 2026)
- Crypto.com: US terms and conditions (last checked October 2026)
- Gemini: ActiveTrader fee schedule (last checked October 2026)
- Gemini: Transfer fee schedule (last checked October 2026)
- Kraken: Fee schedule (last checked October 2026)
- Kraken: Quick start for clients in the United States (last checked October 2026)
- PayPal: Consumer fees (last checked October 2026)
- River: Fee schedule (last checked October 2026)
- Robinhood Crypto: Fee schedule (last checked October 2026)
- Robinhood: Crypto staking (last checked October 2026)
- Uphold: Service fees (last checked October 2026)
- Uphold: Deposit and withdrawal fees (last checked October 2026)
This page is general information, not financial advice. Fees and licenses change, so check the registers and the exchange’s own fee page before you open an account.