Buying Bitcoin in the US is much easier than many think. It is as simple as picking an exchange, creating an account, depositing money and clicking "buy Bitcoin".
Review and compare the best cryptocurrency exchanges below to find the fastest and most secure way to make your first Bitcoin purchase in the United States.
Coinbase provides a simplistic user interface that delivers bitcoin to your account instantly when you buy using a debit card. Coinbase generally charge a fee of 3.99% per transaction. Coinbase Fees are 0.5% per trade when you deposit fiat into their platform.
Kraken was founded in mid-2011 by long time Bitcoin advocate Jesse Powell and has grown to become one of the world's largest exchanges. Based on volume alone, they are the largest exchange in Europe and the UK.
Kraken is one of the most trusted exchanges worldwide.
Bitpanda is a Bitcoin and crypto broker that is based in Austria, Europe. The exchange has become extremely popular across Europe and is available in most countries. Bitpanda is well designed, easy to use and offers managed wallets to hold your Bitcoin.
Bitpanda has a wide variety of payment methods for users, including credit and debit cards, Skrill, SEPA, and online bank transfer.
Coinmama allows users from any country around the world to buy Bitcoin, Ethereum and Chainlink using their exchange. They are one of the few exchanges that allow Credit Card and Debit Card purchased for Bitcoin and crypto using Visa and Mastercard.
If you are a customer in Europe, you can also buy Bitcoin with a SEPA transfer for a lower fee. Coinmama is an extremely private and secure option to invest in Bitcoin as they will send it to your personal Bitcoin wallet, as opposed to having the Bitcoin or cryptocurrency on a managed and less secure wallet on their platform.
Gemini was founded by well known venture capitalists, the Winklevoss twins. They are a New York based Bitcoin exchange that enable residents of the United States, United Kingdom, Canada and more to buy, sell and trade using their exchange.
Gemini offer both a web application and iOS/Android app that enable users to invest in Bitcoin and other cryptocurrencies within minutes.
Local Bitcoins is a decentralized exchange that acts as an escrow service to facilitate peer to peer buys and sells of Bitcoin by allowing users to list their own Bitcoin advertisements or trades.
Users can choose to meet and pay in person or online, making Local Bitcoins the most private way to buy Bitcoin. Local Bitcoins facilitates transactions in Australia, New Zealand, United Kingdom, United States, South Africa and virtually every other country around the world.
Paybis is one of the easiest ways to buy Bitcoin in the United States with their user friendly exchange that offers both credit card and debit card purchases.
Their exchange offers extremely high limits with credit and debit card purchases at $20,000 USD per transaction with very fast payouts.
eToro is a world renown multi-asset brokerage company that allows users to invest in Bitcoin as well as buy and trade other cryptocurrencies, stocks, ETFs, currencies, indices and commodities.
eToro is a well respected business that is best in class in terms of security and regulation from a global standpoint. eToro is available in most countries around the world including Australia, Canada, United States, United Kingdom, New Zealand and more.
OkCoin is one of the largest Chinese exchanges around the world that operates primarily out of the United States. OkCoin also have offices in Hong Kong, Malta, Singapore, Korea and other countries due to their rapid global expansion.
Bittrex Global is a US friendly cryptocurrency exchange that offers instant USD deposits for the purchase of cryptocurrencies like Bitcoin, Ethereum, Caradano, Chainlink and over 200 more.
They have relatively low trading fees starting at 0.25% across all of there markets.
Based in Hong Kong, Bitfinex has been one of the longest running and largest USD and USDT (Tether) based Bitcoin exchanges around the world. Bitfinex is a go to exchange for institutional investors, with bank wires being one of the only options to onboard with the cryptocurrency exchange.
Notably, In August 2016, Bitfinex was involved in one of the larger hacks in Bitcoin and cryptocurrency when the lost around 30% of all user funds.
Bitcoin is a digital currency that has been around for almost a decade now. It was created in 2009 by Satoshi Nakamoto, but the developer’s true identity has never been verified. It took some time for the world to embrace Bitcoin, but it eventually found its way in to the United States financial markets.
Here is a comprehensive insight into the history, legality, and mining of Bitcoin in the USA.
Bitcoin has been in use in the USA since its development. It has not always been considered as a legal currency, but its decentralized nature made it difficult for the government and financial regulators to control its use.
There are three crucial events that define Bitcoin’s history in the United States:
The first event is the U.S. Treasury’s classification of Bitcoin, as a decentralized and convertible virtual currency. This classification came in 2013, five years after the unveiling of the cryptocurrency. It paved the way for the legalization and general acceptance of Bitcoin in the country.
The 2013 classification was followed by another classification in 2015, this time by the Commodity Futures Trading Commission (CFTC). This commission officially classified Bitcoin as a commodity towards the end of 2015 – this classification meant that Bitcoin would be liable to taxation by the Internal Revenue Service as it was categorized as property.
The third significant event in Bitcoin’s history in the United States. came in 2016 when a federal judge ruled that the virtual currency is money just like any fiat currency. This came following the prosecution of Anthony Murgio, who was accused of running an unlicensed Bitcoin exchange platform. USA DistrictJudge Alison Nathan ruled that Bitcoin qualifies as money citing a similar ruling earlier in 2014 by U.S. District Judge Jed Rakoff.
Over the years, Bitcoin has become more entrenched in the USA, and its adoption is still ongoing. It is important that as an investor, you do not use places like Robinhood to buy Bitcoin - but instead use an exchange like Coinbase that actually lets you custody your BTC and is the best cryptocurrency exchange in the United States.
One of the main characteristics of Bitcoin is that is does not hold any intrinsic value as it is a digital currency. The uncertainty associated with it, coupled with the fact that it has been in existence for barely a decade, means that many companies and stores have been reluctant to embrace it. However, this has been changing over the years, as there are thousands of companies and stores that accept Bitcoin as a means of payment today.
This section will highlight four of the most significant companies that accept Bitcoin:
Overstock is a popular online ticket vendor that sells big-ticket items at discounted prices. It was the first online retailer to accept Bitcoin in 2014following a partnership with Coinbase, a popular cryptocurrency exchange. It accepts Bitcoin, as a form of payment for virtually every item in its inventory.
Microsoft has also embraced Bitcoin. The company accepts Bitcoin in exchange for products and services such as apps, games, and movies. Bitcoin transactions are conducted on the company’s online store as well as onWindows and Xbox stores.
Virgin Galactic is a commercial space flight company under the Virgin Group.This company has been accepting Bitcoin since 2013 for services such as space travel.
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 gadgets to facilitate mining. They also need to be tech-savvy as the process involves coding and software development and management. For those who lack the resources or know-how, there are many startups that offer communal mining services at afee.
Mining Bitcoin in the U.S.A. is legal and convenient, but it can also be expensive. This is because the mining process requires a lot of power. As such, although anyone can mine Bitcoin from anywhere in the country, there are certain states that have been classified as preferable thanks to their affordable energy rates. Miners and researchers have recommended five states for their affordable energy rates: Louisiana, Idaho, Washington,Tennessee, and Arkansas. On the other hand, the five most expensive states to mine Bitcoin in the U.S.A. are Hawaii, Alaska, Connecticut, Massachusetts, and New Hampshire.
Developers are optimistic that it will be easier and cheaper to mine Bitcoin int he U.S. with time. Currently, the U.S. is home to the biggest Bitcoin mining facility – the facility is under construction in Virginia at a cost of $65 million.
The U.S. is one of the top destinations for Bitcoin and other cryptocurrencies. It is also one of the most progressive countries when it comes to development and adoption of digital currencies. Experts are optimistic that Bitcoin will gain more popularity and utility in the U.S. over the coming years. It is also very promising that large institutions like Fidelity Investments and Chase Bank are building infrastructure around Bitcoin in 2021.
Learn more about the Bitcoin price in USD here: Bitcoin Price USD
You can find and compare the best cryptocurrency exchanges in the US below. Get a detailed view of which Bitcoin exchange is the best fit for you in the US.
We have also listed and compared the best Bitcoin Futures Trading exchanges in the US, where you can trade Bitcoin with up to 125x leverage.
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