Exploring the Cryptocurrency Market for US Citizens in 2019

In 2019, the cryptocurrency market experienced significant growth and development. With the increasing popularity of digital currencies, many US citizens are eager to participate in this emerging market. However, not all cryptocurrency markets are suitable for US citizens. This article aims to explore the types of cryptocurrency markets that allow US citizens to trade and invest in 2019.

1. Bitcoin Exchanges

Bitcoin, the first and most well-known cryptocurrency, remains a popular choice for US citizens. In 2019, several Bitcoin exchanges allowed US citizens to trade and invest in Bitcoin. Some of the notable exchanges include:

- Coinbase: As one of the largest cryptocurrency exchanges in the United States, Coinbase offers a user-friendly platform for buying, selling, and storing Bitcoin. It is also known for its compliance with regulatory requirements.

- Kraken: Kraken is another popular Bitcoin exchange that caters to US citizens. It offers a wide range of trading pairs and advanced trading features, making it suitable for both beginners and experienced traders.

- Binance: Although Binance is based in Malta, it allows US citizens to trade Bitcoin and other cryptocurrencies. However, it is essential to note that Binance does not offer the same level of regulatory compliance as Coinbase and Kraken.

2. Altcoin Exchanges

In addition to Bitcoin, US citizens can also trade and invest in altcoins, which are alternative cryptocurrencies to Bitcoin. In 2019, several altcoin exchanges allowed US citizens to participate in the altcoin market. Some of the notable exchanges include:

- Bittrex: Bittrex is a well-known altcoin exchange that offers a wide range of trading pairs, including Bitcoin, Ethereum, and various altcoins. It is known for its high liquidity and advanced trading features.

- Huobi Pro: Huobi Pro is a popular altcoin exchange that allows US citizens to trade Bitcoin, Ethereum, and other altcoins. It offers a user-friendly interface and advanced trading tools.

- Gemini: Gemini is a regulated cryptocurrency exchange that allows US citizens to trade Bitcoin, Ethereum, and a few other altcoins. It is known for its strong security measures and compliance with regulatory requirements.

3. Cryptocurrency Brokers

In 2019, some cryptocurrency brokers allowed US citizens to trade cryptocurrencies through their platforms. These brokers typically offer a range of digital assets, including Bitcoin, Ethereum, and altcoins. Some of the notable cryptocurrency brokers include:

- eToro: eToro is a social trading platform that allows US citizens to trade cryptocurrencies, stocks, and other financial instruments. It is known for its user-friendly interface and social trading features.

- Robinhood: Robinhood is a popular stock trading app that also allows US citizens to trade cryptocurrencies. It offers commission-free trading and a user-friendly interface.

- Coinbase Pro: Coinbase Pro is the advanced trading platform of Coinbase. It allows US citizens to trade a wide range of cryptocurrencies, including Bitcoin, Ethereum, and altcoins. It is known for its advanced trading features and high liquidity.

4. Cryptocurrency ATMs

In 2019, cryptocurrency ATMs became increasingly popular among US citizens. These ATMs allow users to buy and sell cryptocurrencies using cash. Some of the notable cryptocurrency ATM providers include:

- Coinme: Coinme is a leading cryptocurrency ATM provider that operates in various locations across the United States. It offers a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.

- BitPay: BitPay is a well-known cryptocurrency payment processor that also offers cryptocurrency ATMs. These ATMs allow users to buy and sell cryptocurrencies using cash.

- CoinFlip: CoinFlip is another popular cryptocurrency ATM provider that operates in various locations across the United States. It offers a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.

5. Cryptocurrency Exchanges with Limited US Support

While many cryptocurrency exchanges allow US citizens to trade and invest in cryptocurrencies, some exchanges have limited support for US users. In 2019, these exchanges included:

- Binance: Although Binance allows US citizens to trade Bitcoin and other cryptocurrencies, it does not offer the same level of regulatory compliance as Coinbase and Kraken.

- Huobi: Huobi is a popular cryptocurrency exchange that offers a wide range of trading pairs, but it does not offer the same level of regulatory compliance as Coinbase and Kraken.

- OKEx: OKEx is another popular cryptocurrency exchange that allows US citizens to trade Bitcoin and other cryptocurrencies. However, it does not offer the same level of regulatory compliance as Coinbase and Kraken.

In conclusion, in 2019, there were several cryptocurrency markets that allowed US citizens to trade and invest in cryptocurrencies. These markets included Bitcoin exchanges, altcoin exchanges, cryptocurrency brokers, cryptocurrency ATMs, and exchanges with limited US support. It is essential for US citizens to research and choose the right cryptocurrency market that meets their needs and complies with regulatory requirements.

Questions and Answers:

1. Q: What is the main difference between a cryptocurrency exchange and a cryptocurrency broker?

A: The main difference between a cryptocurrency exchange and a cryptocurrency broker is that exchanges allow users to trade cryptocurrencies directly with other users, while brokers act as intermediaries between users and the market.

2. Q: Are cryptocurrency exchanges regulated in the United States?

A: Yes, some cryptocurrency exchanges in the United States are regulated by the Securities and Exchange Commission (SEC) and other regulatory bodies. However, not all exchanges are regulated, and it is essential for users to research and choose regulated exchanges.

3. Q: Can US citizens trade cryptocurrencies on international exchanges?

A: Yes, US citizens can trade cryptocurrencies on international exchanges. However, it is essential to ensure that the exchange complies with US regulations and that the user is eligible to trade on the platform.

4. Q: Are cryptocurrency ATMs safe to use?

A: Cryptocurrency ATMs can be safe to use, but it is essential to choose reputable providers and follow best practices, such as verifying the machine's legitimacy and keeping the transaction private.

5. Q: What should US citizens consider when choosing a cryptocurrency market?

A: When choosing a cryptocurrency market, US citizens should consider factors such as the platform's reputation, regulatory compliance, security measures, fees, and available trading pairs. It is essential to research and choose a market that meets their needs and offers a secure and reliable trading experience.