The problem regarding New York crypto startups: why did they fail to set up?
Unlike other countries, New York showcased slight trouble and uniqueness in crypto exchange because all purveyors had to apply for a BitLicense. Naturally, this was a major problem for crypto traders. This condition was notably applicable for companies that wished to maintain custody or control of virtual or digital currency on behalf of others. Many crypto startups had also refused to accept the application of BitLicense, thus entirely declining to start a crypto business in New York.
It was undoubtedly a massive drawback for the crypto business, that too, in an advanced place like the UK. The first step towards the cryptocurrency world is most likely to happen through an exchange or brokerage.
Usage of exchange or brokerage:
The trades or brokerages initiated for a smooth cryptocurrency exchange, permitting the direct conversion of US dollars, euros, and other government-backed currencies into cryptocurrencies. This also allows the crypto trading to be easier and, most importantly, generates the link between the various traders across the country or nation.
The crypto exchanges that made New York crypto exchange possible:
After decades of issues and problems regarding crypto business and trade, the crypto investors and traders finally got the opportunity to welcome these few crypt exchanges that flourished the cryptocurrency field in New York. Let us study a bit about their birth, features, and the advantages that they gifted to the crypto world, thus positioning themselves among the first exchanges in New York.
- Coinbase- Born in San Francisco, California, Coinbase is regarded as the best exchange for the beginners. With a simple user interface and features, Coinbase portrays that instead of purchasing Bitcoin and other cryptocurrencies for the money exchange, the users can directly buy from Coinbase and indulge in a smooth trade. Coinbase has also set up low fees compared to other brokerages so that millions of users can easily opt for it.
- Coinmama- This comes second in user-friendly brokerages that focus on credit and debit card purchases. One of the best parts of this exchange is instant delivery and selling various cryptocurrencies to more than 40 states and countries.
- Bitpanda- Termed as the Coinbase of Europe, this brokerage is an expert in exchanging multiple currencies into virtual ones. This is also extremely favorable for beginners due to its simple interface and several payment options.
Few more crypto exchanges:
CEX.io, Kraken, LocalBitcoins, Bitstamp, Gemini, and others.