Bitcoin and cryptocurrency are a hot topic in the United States. The S.E.C (securities and exchange commision) has a lot of power over the future of cryptocurrencies and Bitcoin in the US. Two major questions are if a Bitcoin ETF will be introduced and if centralized cryptocurrencies are securities or not.
How to Buy Bitcoin in the United States
Depending on which method you want to use, certain methods are better than others. The methods we will cover are a credit card, debit card, bank transfers, Paypal, and cash (USD).
When buying Bitcoin with a debit card in the US, Coinbase is going to be your best option by far. This is due to their low fees on card purchases (3.99%) and their fantastic user interface. Other options include Coinmama and Cex.io.
Most of the United States credit card companies do not like the idea of users purchasing cryptocurrency via credit. This is possibly due to it acting as a “cash advance”.
If you want to use your credit card to purchase Bitcoin in the United States, the exchanges Coinmama and Cex.io are your best options.
To buy Bitcoin with a bank wire or bank transfer, Coinbase, Gemini, and Kraken are all great options. All of these exchanges are extremely well known in the cryptocurrency space, based in the US, and have low fees.
Buying cryptocurrency with a bank account is highly recommended due to the fact that purchases incur the lowest fees possible. On average, expect 1%-1.49% fees on bank purchases.
Buying Bitcoin with Paypal is a little different than the other methods. Virwox and Localbitcoins are the two main exchanges that support purchasing Bitcoin with Paypal. In terms of fees, Virwox will incur around 10% fees while LocalBitcoins has around 20%.
How to Buy Ethereum In the United States
Nearly every exchange Bitcoin is listed on, Ethereum is as well. Follow the above methods to purchase Ethereum with a credit card, debit card, bank account or Paypal.
Cryptocurrency Exchanges In the United States
There are several cryptocurrency exchanges that assist users in the purchasing of currency. Some of the most popular United States-based cryptocurrency exchanges are:
Coinbase is likely the most popular cryptocurrency exchange in the United States. Led by Brian Armstrong, Coinbase allows for the purchasing of Bitcoin, Ethereum, Litecoin, BCash, and Ethereum Classic.
Based out of New York, Gemini is one of the most popular exchanges in the United States. The exchange is co-owned by the Winklevoss twins, who had an early involvement with Facebook.
Gemini offers three cryptocurrencies on USD pairings:
Kraken is another cryptocurrency exchange based in San Francisco. It offers several more cryptocurrency pairs than other fiat exchanges such as Gemini and Coinbase.
Bitrrex is a bit different than other mentioned exchanges in that it’s a crypto to crypto exchange. While it offers some fiat pairings, it’s main focus is the exchange of altcoins with Bitcoin.
Bitcoin Wallets in the United States
When looking at Bitcoin wallets, the country you are in doesn’t matter too much. Due to the nature of the internet, most wallets are available online. If you decide to go with a hardware wallet, make sure the wallet is able to be shipped to the United States.