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eToro allows you to buy Bitcoin & crypto in the United States.
It offers a free wallet, app, and is easy and quick to use for purchases.
Limited-time offer: Get $10 free once you trade $100 worth of cryptocurrency.
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. BuyBitcoinWorldwide.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB.Visit eToro's Website
Founded mid-2011, Kraken is the one of the world's largest cryptocurrency exchanges, and one of the largest in based on daily average trading volume. It is available in almost all countries.
Deposits can be made via bank wire, ACH and SWIFT. Users can buy bitcoin, ethereum, dogecoin and dozens of other coins. Visit Kraken's Website
Coinbase is one of the largest exchanges, with over 100 million users.
USA users can buy bitcoins and crypto fast and easily using Coinbase's free app or on its website.
Coinbase also offers a free wallet for its users.
Eligible US residents (excluding Hawaii) who successfully create an account and purchase crypto will receive $5 in Bitcoin (BTC) added to their Coinbase portfolio. Visit Coinbase's Website
Bitcoin IRA offers a tax-advantaged way to acquire Bitcoin via an IRA.Visit Bitcoin IRA's Website
Gemini is a New York-based Bitcoin exchange, open to residents of the United States, UK, Canada, Hong Kong, Japan, Singapore and South Korea. Deposits can be made via wire transfer, SEPA or ACH transfer.
Get $20 of free BTC after trading $100 or more within 30 days.
Crypto exchange established in 2015. United States residents can buy bitcoin & crypto via wire transfer, credit card, debit card and ACH transfer.
Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.
Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.
River makes it easy to buy bitcoin. It has a clean interface, low fees and allows for automatic purchases.
It currently offers its services in all US states besides New York and Nevada.
Be sure to read our River Financial review.
Swan Bitcoin is a dollar cost averaging Bitcoin exchange, where users can set up recurring Bitcoin purchases to be drafted from their bank account or credit card every month or week.
Get $10 in free BTC when you make your first purchase.
Coinbase's exchange, Coinbase Advanced Trader (formerly called Coinbase Pro), is one of the largest Bitcoin exchanges in the United States. Users can fund their accounts via bank transfer, SEPA, or bank wire. Coinbase Advanced Trader offers good prices and low fees, but its confusing user interface may initially prove difficult to navigate.
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%. View Bitcoin ATMs
In March 2022, a bill that would allow the Illinois Department of Revenue (IDR) to accept crypto payments the same way they accept credit card transactions moved forward in the state Senate. The bill had passed the House and moved to the Illinois Senate in late February.(2)
In June 2021, the Chicago Tribune reported that Illinois is striving to position itself as a cryptocurrency financial center.(3) Many factors point to this idea already becoming a reality. First, the Chicago Mercantile Exchange Group (CME) has been trading bitcoin futures since 2017.(4) In addition, the state has the largest mining facility in the Midwest operated by Sangha Systems(5), and the Chicago-based Bitcoin ATM operator, CoinFlip.(6)
All of these developments signal that Illinois is thinking about Bitcoin and creating a regulatory framework around it. That means that now is a good time to invest if you are citizen of Illinois.
If you are, and are curious about how to invest in Bitcoin, one of the easiest ways is to buy through the cryptocurrency exchanges outlined above. There are several exchanges offering Bitcoin in Illinois, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.
Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet.
Another way to buy Bitcoins in Illinois is through automated teller machines (ATMs). These ATMs allow users to instantly purchase the cryptocurrency using cash, and most of them only require a telephone number for verification. This makes them more private than exchanges.
You can use our Bitcoin ATM finder tool to find the one nearest you.
LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. Similar to Craigslist, this does introduce a degree of risk,. You can minimize that risk by conducting all business on the platform, making use of its escrow services, and only trading with users who have a good reputation.
In 2020, several scams were reported to the University of Illinois Police Department. The victims were students who were asked to make certain payments in Bitcoin in exchange for resolving arrest warrants, or not disclosing certain embarrassing videos of the students.(7)
University police recommended students report the threats and avoid making any payments to the scammers.
|Exchange Name||Support for Illinois|
The best way to find a Bitcoin ATM in Illinois is to use our Bitcoin ATM finder tool.
Here, you can filter by any of the most popular cryptocurrencies and find ATMs that support buying, selling, or both.
The best way to buy Bitcoin in Chicago is to use one of the exchanges listed at the top of this page.
Any exchange listed above will allow you to sell your Bitcoin for fiat currency.
Illinois is advancing towards establishing a cryptocurrency regulatory framework akin to New York's BitLicense. David DeCarlo, Illinois’ first regulatory innovation officer, stands as a significant advocate for this direction.
The IDFPR, where DeCarlo is affiliated, has been at the forefront of these legislative proposals. The department envisions these steps as foundational to providing Illinois with a comprehensive state-level cryptocurrency regulatory framework, comparable to New York and potentially California.
Under the proposed legislation, crypto firms in Illinois would undergo a licensing process reminiscent of New York's BitLicense. Furthermore:
Despite the outlined approach mirroring New York's model, it has not been without its detractors. The CEO of a New York-based bitcoin rewards app even labeled New York as one of the most crypto-hostile states due to its BitLicense system.
DeCarlo indicates that Illinois is not solely looking at New York's approach. The state is also liaising with California to formulate a mutually beneficial regulatory framework.
Illinois' initiative integrates a consumer protection component, inspired by the 2010 Dodd-Frank Act. This facet empowers state regulators to enforce crypto regulations and proactively address any missteps by unlicensed entities.
The push for these crypto regulations in Illinois signifies an acknowledged urgency for protective measures. This momentum mirrors a broader U.S. trend towards heightened crypto oversight, particularly in the face of the federal government's more prolonged deliberation on the matter.
Whether or not these regulations stop innovation remain to be seen. It seems all large US states are making big pushes for further regulations, which could really damage the crypto and Bitcoin industry. Let's hope the regulations are not overbearing.
BuyBitcoinWorldWide writers are subject-matter experts and base their articles on firsthand information, like interviews with experts, white papers or original studies and experience. We also use trusted research and studies from other well-known sources. You can learn more about our editorial guidelines.