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Austin Jacob • May 22nd, 2020

Buy Bitcoin in Delaware

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We know why you’re here.

You want to start investing in Bitcoin and are from Delaware.

Here’s what you need to know.

For most beginners, Coinbase is going to be the top option.

Want to continue educating yourself on some other options?

Keep reading!

Coinbase Home

Based out of San Francisco, California, Coinbase is considered by many to be the most reputable beginner-friendly exchange. Since 2012, they’ve made it simple for any crypto newbie to buy and sell Bitcoin through their gorgeous user interface. Just make an account, link your preferred payment method, and start purchasing.

Please note that if you are based in the United States, most credit card purchases are disabled. For AML reasons, Coinbase, like most exchanges, requires users to submit a picture of their ID and other information for verification purposes.

When it comes to fees, this will depend on the payment method used. Bank purchases charge 1.49% and on credit and debit purchases expect 3.99%. Purchase limits depend on your accounts verification level, with the highest tier of verification allowing $50,000 to be purchased daily.

Visit Coinbase Read Review

 

Coinmama is another beginner-friendly cryptocurrency brokerage that focuses on credit and debit card purchases. They offer instant delivery and sell Bitcoin, Ethereum, Ripple, Litecoin, and more to 46 US States, and most countries.

Coinmama doesn’t provide its users with a wallet on the exchange. Instead, users are asked to provide a wallet address to send the purchased cryptocurrency to. As long as you have your own wallet, this shouldn’t be an issue!

Coinmama charges a fee of around 5% for credit and debit purchases with instant delivery and high purchasing limits of a max of $5,000 daily, and $20,000 monthly. 

Visit Coinmama Read Review

 

Headquartered in London, UK, CEX.io offers security, high liquidity, and cross-platform trading. They support an extremely wide array of countries making them available to most people.

CEX.io appears to have little no fees at first glance. They are able to do this by charging a premium on the Bitcoin price. We estimate this comes in around a 7% premium on average.

When it comes to purchasing limits, it really depends on your accounts verification tier. The first level has daily deposits of $500 and $100 withdrawals while the highest tier has unlimited in each category. Payment methods include cards, bank transfers, and more.

Visit CEX.io Read Review

 

eToro USA is an investing platform that allows its users to purchase CFDs for Bitcoin, cryptocurrency, and even stocks.

One of eToro's most notable feature is their support for copy trading. Also known as social trading, this will allow users to view the top trader's exact moves, letting them replicate as little or as much of their strategies as they'd like.

At press time, the service supports 40 US states and several other US territories. 

eToro has a few different fees that you should be aware of. When trading any crypto to crypto, you'll pay a .1% fee. If fiat is converted to the cryptocurrencies below, you'll also pay the spread mentioned below.

Visit eToro USA Read Review

 

LocalBitcoins offers a highly trustworthy escrow service and peer-to-peer (P2P) exchange. Due to the nature of the exchange, it's available in pretty much every country.

On the exchange, users to trade among themselves. Due to the nature of the transactions on the exchange, there is a resolution and feedback system.

It also allows users to post a quick buy or quick sell ad on the exchange platform. It is one of the best cryptocurrency exchanges for peer to peer trading.

LocalBitcoins is one of the better exchanges for users concerned with their privacy. Bitcoin can be purchased in person without linking an identity to an exchange.

Visit LocalBitcoins Read Review

 

Bitcoin Exchanges in Delaware

Delaware is home to a significant number of physical Bitcoin exchanges for its area.

As of May 2020, there are 21 Bitcoin ATMs in Delaware. These ATMs are concentrated in Wilmington and Southern Delaware for the most part.

Wilmington also has a handful of physical Bitcoin exchanges for those looking to deal with a brick and mortar business rather than a teller machine.

Bitcoin Regulations in Delaware

Delaware is famous for having high quality courts and judges for corporate laws and regulations.

This is one of the reasons why Delaware is a very popular location for incorporation, and cryptocurrency businesses are no exception.

Recent amendments to Delaware’s General Corporation Law have created welcoming conditions to the cryptocurrency business.

These amendments cover issuance, trading, redemption, and custodianship on a distributed ledger.

This law includes provisions for stock ledgers that take place on decentralized networks.

Delaware is home to over half of the incorporations for Fortune 500 companies, and many of these are publicly traded on the stock market.

This new law allows these corporation’s public offerings to be accessible beyond the traditional middlemen in the stock market.

Bitcoin Mining in Delaware

The average residential cost of electricity in Delaware is $0.1358/kWh which is the sixth-highest in the United States.

While cryptocurrency regulations are ideal in the state of Delaware, these high electricity costs may make cryptocurrency mining operations prohibitively expensive.

However, investors in Delaware can circumvent high electricity costs by investing in ASIC mining rigs.

ASIC mining hardware is designed specifically for cryptocurrency mining, and increased efficiency can balance out high electricity costs.

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