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It's easy to buy bitcoin in the USA. Dozens of apps and exchanges make the process easy, whether you want to buy online or in person.
Key Takeaways
eToro 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.
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Bitcoin IRA Bitcoin IRA allows United States customers to acquire Bitcoin in an IRA. Users can create new ones or transfer over existing accounts. Visit Bitcoin IRA's Website
Gemini Gemini, based in New York, supports residents of the USA. It allows deposits via many payment methods, including:
Uphold
Crypto exchange established in 2015. United States residents can buy bitcoin & crypto via wire transfer, credit card, debit card and ACH transfer.
River River.com is a Bitcoin-only exchange based in the USA. It offers an easy way to buy plus advanced features for more experienced buyers.
PayPal PayPal allowed users to buy and sell bitcoins starting in 2020. Starting in June 2022, PayPal allowed users to withdraw the coins from their accounts. PayPal can be a fast way to purchase coins if you are already verified.
Here is a video we made that shows how fast the process is:
The main issue we have seen is that some people experience delays when they try to send bitcoins out from their PayPal account.
Swan Bitcoin
Swan Bitcoin is based in the USA, in California. It's a Bitcoin-only exchange, meaning you can only buy bitcoin and not other coins.
It functions like a Bitcoin savings app, allowing users to automate investments in Bitcoin.
Features include:
Swan Private targets high net-worth individuals and corporations, promoting generational wealth-building.
Coinbase Advanced Trader 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.
LibertyX LibertyX is an American service that makes buying bitcoins with cash simple. First, use LibertyX's app to locate a store near you that sells LibertyX codes. Next, enter your LibertyX code to the app, along with your Bitcoin address and you'll receive your bitcoins very soon after.
If you connect a Facebook account to your LibertyX app, your first $1,000 of purchases are fee-free. Otherwise, all purchases cost 1.5% + $3 in fees.
Bitcoin ATMs 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
First, you'll need to sign up on a USA-based exchange and create an account. Normally this takes a few seconds. Based on our experience, you will need to have an email and phone number ready.
Most exchanges in the USA require identity verification with either a driver's license or passport. You will be required to upload a picture of your license or passport, and/or a photo of you holding your ID/driver's license with you in it.
Once your ID(s) are verified, you can select a payment method. This will be used to deposit USD into your exchange account. The USD will then be converted to Bitcoin or crypto in the next step.
Once you verify your ID and the exchange confirms it, you can easily purchase Bitcoins.
The most common payment and deposit methods for buying are:
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Bitcoin is a digital currency introduced in 2009 by Satoshi Nakamoto. The real identity of the creator remains a mystery. Despite initial hesitations, Bitcoin has secured a place in the U.S. financial markets.
Bitcoin's integration in the U.S. market continues to grow, with various media resources available for those interested:
For those eager to purchase Bitcoin:
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Although most Bitcoin holders turn to crypto exchanges to get the digital currency, tech-savvy holders prefer to mine it.
All of the Bitcoins that have been generated to date were mined using special software. Miners need powerful computers and other related hardware to facilitate mining. For those who lack the resources or know-how, many startups offer communal mining services at a fee, though almost all of these are scams.
Mining Bitcoin in the U.S.A. is both legal and convenient, yet potentially costly due to high power consumption.
There's optimism about future advancements making Bitcoin mining more affordable and efficient in the U.S.
Highlight: The largest mining farm ever established was a 300MW facility in Rockdale, Texas. Owned by Bitmain, it came with a price tag of $500 million and began operations in October 2019. However, its operations took a hit when Bitcoin's value dropped below $4k.
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Once you buy bitcoins, it's important to keep them safe. We've outlined some common Bitcoin scams in the USA to help you keep your coins secure.
In 2020, a significant breach affected Twitter, enabling an entity to control tweets from any account.
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Yes, Coinbase is based in the US and supports US customers.
Citizens of the United States can convert, buy, and sell cryptocurrencies with fiat. Supported payment methods are:
There are over 30,000 Bitcoin ATMs all across the USA. The USA is among the top countries for Bitcoin ATM availability.
You can use our Bitcoin ATM finder tool to find the one nearest you.
According to Wikipedia, Bitcoin is legal in the USA. Each US state will have different laws on how to approach Bitcoin, however.
Bitcoin prices are changing every second.
The best way to find the most up-to-date price of Bitcoin is to check out our Bitcoin price page.
Any exchange with a US Dollar trading pair will allow you to sell your Bitcoin for fiat currency. Coinbase Pro and Kraken have USD trading pairs for many popular coins.
You could also use a service like eGifter to sell your Bitcoin for gift cards.
Luno now works in the USA but only for Bitcoin and Ethereum cryptocurrencies.
At this time, you can't buy bitcoins at Walgreens. The best way to buy bitcoins at a physical location is at a Bitcoin ATM.
The best way to buy Bitcoins at a Walmart is to find one that has a CoinStar machine. These coin machines will pay you out in Bitcoin, but you will need a lot of coins as well as be okay with paying a high fee.
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Understanding the broader regulatory environment is equally crucial. The U.S. Securities and Exchange Commission (SEC) has been particularly vigilant about Initial Coin Offerings (ICOs) to protect investors from potential fraud. They've yet to approve a Bitcoin ETF, mainly due to concerns about market manipulation and lack of overseas regulatory cooperation.
The Financial Crimes Enforcement Network (FinCEN) requires exchanges to implement Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures, ensuring a more transparent and trustworthy trading environment. This has implications for user privacy and transaction speed, as exchanges adhere to these requirements.
Apart from YouTube channels and podcasts, there are many other resources for learning about Bitcoin in the U.S.:
Given the growing interest in Bitcoin and the highlighted scams, security cannot be overemphasized. Here are additional security measures:
The Internal Revenue Service (IRS) classifies Bitcoin as property, meaning any sale can trigger a capital gains tax. If you've held onto Bitcoin for over a year before selling, you'll be taxed at the long-term capital gains rate. However, if you sell Bitcoin you've owned for less than a year, it's considered a short-term gain and is taxed at your ordinary income rate. It's essential to maintain proper records of all transactions to ensure accurate tax reporting.
In recent years, institutional interest in Bitcoin has surged. Major financial institutions, such as Fidelity, have started offering Bitcoin-related services. This signifies a broader acceptance and a potential shift towards viewing Bitcoin as a store of value or "digital gold."
Apart from centralized exchanges, platforms like Bitquick allow users to buy or sell Bitcoin directly with other users. Localbitcoins is now out of business. These platforms can offer more flexibility in terms of payment methods and may enable users to transact without undergoing extensive KYC procedures, though this comes with its own set of risks.
While mining could be a good alternative to buying, there are issues.
Bitcoin Mining Energy Consumption:
Climate Impact Controversy:
Empirical Evidence:
Contrast to Industry Claims:
Conclusion:
The dynamic Bitcoin landscape in the USA is a testament to its enduring relevance and potential. As the regulatory framework becomes more robust and more people understand its underlying technology, the future looks promising. Whether you're an
USA Disclaimer: The cryptocurrency landscape in the USA is rapidly evolving. While we strive for accuracy in our research, the information presented here may become outdated. Always conduct your own research before making any decisions or investments.
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.
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