River
Bitcoin-only exchange with zero-fee recurring buys, full-reserve custody, and proof of reserves.
Why We Recommend River
River stands out as one of the most security-focused Bitcoin exchanges in the United States, built around a full-reserve custody model where all client Bitcoin is held 1:1 with no rehypothecation or lending. Their in-house multisignature cold storage system distributes keys across geographically separated vaults, eliminating single points of failure. Unlike many exchanges that outsource custody, River built and operates their own infrastructure. They publish cryptographically verifiable proof of reserves on a recurring basis, allowing clients to independently confirm that liabilities are fully backed—a transparency measure that became increasingly important after industry collapses revealed hidden insolvency at other platforms.
The platform operates under U.S. regulatory frameworks with annual financial and SOC audits, maintaining licenses in every state where they operate. For cash deposits in their interest-bearing accounts, River partners with FDIC-member Lead Bank, providing up to $250,000 in federal deposit insurance per depositor. This structure keeps fiat deposits protected while ensuring Bitcoin remains in reserve rather than being lent out for yield—a critical distinction from platforms that generated yield by taking on counterparty risk with customer funds.
Best For
River is ideal for U.S.-based Bitcoin investors who prioritize security and simplicity over access to hundreds of altcoins. The zero-fee recurring buy feature makes it particularly attractive for dollar-cost averaging strategies, allowing users to automate purchases from hourly to monthly intervals without transaction fees eating into their accumulation. The "supercharged" DCA option that doubles purchases during price dips appeals to investors who want to lean into volatility systematically.
High-net-worth individuals and family offices benefit from River's institutional fee tiers (dropping to 0.25% for orders over $15 million) and white-glove support including phone access to U.S.-based staff. Business accounts serve corporations, startups, LLCs, non-profits, and trusts looking to hold Bitcoin on their balance sheets with proper reporting and compliance documentation. The integrated mining service lets clients purchase and host ASIC miners while tracking hashrate, revenue, and cost basis in the same dashboard as their spot holdings.
The Bitcoin Interest on Cash feature (recently around 3-3.8% APY) suits users who want to park USD while earning yield paid in Bitcoin, keeping dry powder ready for future purchases. Lightning Network integration enables fast, low-fee payments for users who want to actually spend Bitcoin rather than just hold it.
Services & Features
- Zero-fee recurring buys
- Lightning Network payments
- 3-3.8% interest on cash
- Hosted ASIC mining
- Business treasury accounts
- Multisig cold storage
- Proof of reserves
- Auto-withdrawal to self-custody
- Tax reporting tools
- River Links for gifting
Considerations
Only available to U.S. residents, excluding Nevada and New York. One-time buy/sell fees of 1% for orders under $1 million are higher than some discount competitors. Bitcoin-only with no support for other cryptocurrencies or stablecoins.
