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Austin Jacob • June 1st, 2020

Buy Bitcoin In The United States

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There are so many options for buying Bitcoin in the United States.

However…

As a beginner cryptocurrency investor, all of these options can be intimidating.

Here’s the simple answer: Coinbase is likely your best bet.

Other options work great after a learning curve.

Don’t worry, as that’s where Bitpremier comes in.

Below, we will explain your options for purchasing Bitcoin in the United States with all payment methods.

Best Bitcoin Exchanges in the United States

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

 

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

 

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

 

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

 

Gemini is an exchange based in New York, US that allows for the trading of USD against Bitcoin, Ethereum, Litecoin, Zcash, and more. For fees on Gemini's brokerage service, expect 1.49% fees on buys and sells for orders over $200. Gemini's brokerage service is an intuitive way for beginners to purchase cryptocurrency.

If you feel comfortable using their exchange feature, have your account switched to ActiveTrader mode. On this mode, fees scale base off your trading volume and are between .35% and 0% depending on if you are a maker or taker.

Why use Gemini?

      • You want a secure exchange
      • You enjoy low fees
Visit Gemini
 

Frequently Asked Questions

Can I Buy Bitcoin in my State?

Absolutely! For the most part, any exchange or brokerage mentioned in this guide. States like New York, Texas, and Florida all make it simple for beginners to start in cryptocurrency.

How do Cryptocurrency Taxes Work?

Cryptocurrency can be a bit complicated as they involved things like capital gains and cost basis. Luckily for you there’s plenty of cryptocurrency tax software out there making it easy for beginners to file taxes: the right way.

Conclusion

Now that you know about your different options for purchasing Bitcoin, you should be able to purchase Bitcoin easily in the United States.

To recap, below are the suggested exchanges for payment methods:

  • Debit Card – Coinbase
  • Credit Card – Coinmama
  • Bank Account – Gemini
  • Cash – LocalBitcoins

 

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