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Buying Bitcoin in the United States is a lot easier than it used to be.
Growing up in the United States, I have vivid memories of friends approaching me around 2012 asking me how to buy Bitcoin.
I’d refer them to ridiculous methods that were somehow the best available at the time.
One of these methods required purchasing an in-game currency from the video game Second Life, before converting that into Bitcoin.
Yep, it’s that easy.
In short, the best Bitcoin exchanges for United States residents are:
When recommending a cryptocurrency exchange or brokerage to our readers, the main factors we consider are:
Below, we’re going to cover the top options more in-depth. Once you’ve decided which service you’ll use, view our step-by-step tutorial guides detailing the entire buying process for that exchange.
Let’s jump right into it!
Based out of San Francisco, California, Coinbase is considered by many to be the most beginner-friendly exchange. It accomplishes this through its beautiful yet simple user interface.Coinbase is a brokerage, meaning that instead of buying Bitcoin and other cryptocurrencies from other users, you are buying directly from Coinbase.
As far as fees go, Coinbase charges 1.49% on bank purchases and 3.99% on credit and debit purchases. Due to the lower fees involved, it’s recommended to use your bank account when making large purchases.
Coinbase’s fees are on the lower end compared to other brokerages mentioned later in this guide.
eToro is an interesting option when it comes to cryptocurrency brokers. What sets eToro apart is their social trading and copy trading features, allowing you to view the most successful traders on the platform, and mimic their trades as part of your trading strategy.
eToro only supports deposits via bank account, so if you were planning to use a card that won’t be possible. For fees, eToro charges differently depending on the coin. Expect a .75% fee when trading Bitcoin.
Kraken is another popular exchange based in the United States that's been around since 2011. When it comes to currencies, Kraken supports dozens of cryptocurrencies and fiat currencies such as USD, GBP, and EUR.
Fees on the exchange can range from 0%-.26% depending on the type of order and your trading volume. For funding options, Kraken offers deposits in USD (FedWire), EUR (SEPA), and CAD(Wire & EFT).Visit Kraken 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.
Click here to see a step by step guide on how to purchase Bitcoin on Coinmama.Visit Coinmama Read Review
LocalBitcoins offers a highly trustworthy escrow service and peer-to-peer (P2P) exchange. On the exchange, users to trade among themselves by posting a quick buy or quick sell ad on the exchange platform. Fees and limits will depend on the offer or ad that you select.Visit LocalBitcoins Read Review
As much as people (or the president) would like to make you think, Bitcoin is completely 100% legal to own and use in the United States. Non-profit organizations like Coincenter are dedicated to being cryptocurrencies voice to the US government.
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….— Donald J. Trump (@realDonaldTrump) July 12, 2019
Absolutely! For the most part, any exchange or brokerage mentioned in this guide while working in all states. The only exception to this rule is New York, as they require all exchanges to operate in the jurisdiction to have something called the “BitLicense“.
Now that you know about your different options for purchasing Bitcoin, you should be able to purchase Bitcoin easily in the United States.
Forgot what we covered up top already?
The best Bitcoin exchanges for United States residents are: