Buying Bitcoin in the US differs depending on the state you live. All have slightly different regulations regarding Bitcoin and other cryptocurrencies. There are various providers that offer bitcoin in the US, deciding which one is always a difficult choice, we have highlighted our favoured providers on our US exchanges page.
The US Bitcoin Market
If you’re still unsure about investing, here’s a few interesting facts about the current US cryptocurrency market that are worth knowing:
A US survey found that only 14% of people have ever owned Bitcoins, while 40% of Americans said they were open to the idea, which shows an overwhelmingly-positive interest in the use of the online currency. There was also a notable gap in age trends; as US citizens get older, they are less likely to own or use Bitcoins, while younger generations were open to its possibilities.
What this means is that there’s currently huge, long-overdue growth in the market as more young people are interested in investing in BTC. So, a small purchase now before the market explodes in popularity could potentially pay off in just a few short years for Bitcoin sellers in the USA as more people drive an increase in demand for this popular financial product.
However outside of those two options, for now, most Bitcoin USA traders will have to stick with setting up a cryptocurrency wallet. For those that aren’t familiar, cryptocurrency wallets are software programs that store a number of private and public keys that interact with blockchains to allow users to send or receive various types of digital currency across a secure network.
For example, if someone sends a digital currency it goes to a set address, usually another wallet, once it arrives in order for someone to unlock the funds the private key that’s stored in their wallet must match the public address that the currency has been assigned to. That way you can’t incorrectly send Bitcoins to the wrong account accidentally. If the two keys match then the exchange is complete and the balances of both parties is adjusted accordingly. Below is a chart of popular bitcoin exchange, Blockchain, and its wallet count.
It’s a simple and secure system that can guarantee your money is kept safe during the transaction. And when large amounts of up to thousands of dollars are being transferred regularly, it’s ease of use and security become obvious.
The future of Bitcoin Trading in the US
As we’ve highlighted it is difficult to trade bitcoin as a CFD however the general acceptance of bitcoin as an investment vehicle is growing among mainstream investors.
Major US exchanges were given the go ahead by the regulator to trade financial investments directly associated to the value of the bitcoin. This essentially has given large commercial investors the chance to trade bitcoin futures contracts.
As of December, the 18th, the first bitcoin future will begin trading.
Having some of America’s biggest exchanges allowing bitcoin investments to be traded on their platforms must only be a good thing for long-term bitcoin investors. This signals continued acceptance and take a considerably larger step towards being a genuine store of value.
The birth of a futures contract also allows investors to bet against bitcoin. This means that this ‘bubble’ we are experiencing may come to an end because it becomes easier to exert downward pressure on the market.
Bitcoin Facts Worth Knowing
Bitcoin USA Commissions
Once you’re up and running in the Bitcoin USA market, there are a few things you might want to learn first to make your digital currency work for you as best it can.
First, the most important thing is that, when you invest in Bitcoin in the USA, most websites will charge you a commission for the exchange and the amount you pay will vary from each site.
Coinbase, for example, will usually charge 1.49% on both the purchase and sale of Bitcoins across their site. However, LocalBitcoins USA users will find that there’s no commission to pay to use their platform, although they have introduced a deposit fee of 0.00066 BTC per transaction to cover the rising network fees they need to pay.
Bitcoin USA: Verification
Other than the Bitcoin price USA users will also find that the verification process for each website can also drastically differ, with some sites taking a lot longer than others.
Coinbase for example, can take up to several weeks to verify your account. By comparison, eToro only takes a few days to get you up and running, making it the fastest way to buy this crypto currency, although unfortunately it’s not available to Bitcoin USA users at the moment.
When you’re starting with cryptocurrency, we recommend being aware that if you plan to buy Bitcoin in the USA, you will need to check which website will give you the best return on your investment.
As you can see, buying Bitcoin is incredibly simple and easy. There are numerous ways to get started, and each one will guide you through the process, making it as painless as possible. Plus, you can do plenty with your digital dollars. There are also the most bitcoin ATMs in the USA than any other country.
If you’re starting out, our recommendation for the best way to buy Bitcoin in the USA is to go through one of the many strictly-controlled and regulated brokers we’ve mentioned as they can guarantee your cash is kept safe. You can use a cryptocurrency exchange, but these might be more difficult to comprehend for first-time users, and there’s not always someone to speak to if you run into any problems.
If you feel like you understand the market, we recommend buying Bitcoins directly from an exchange, but for beginners, it’s best to stick to a safer option that requires less financial risk. After all, in the long run, it’s all about making the most of your investment.
Whilst buying bitcoin in the US is getting easier, for those that are living in other countries around the world, buying bitcoin can be harder, due to different countries having different regulations about cryptocurrencies. We look at some of the countries that have jumped on the crypto bandwagon and explain how you can buy bitcoin in those countries.
You can find more information about other countries in the world using the links below:
Buying Bitcoins in Australia (article in English)
Buying Bitcoins in Canada (article in English)
Buying Bitcoins in China (article in English)
Buying Bitcoins in India (article in English)
Buying Bitcoins in Pakistan (article in English)
Buying Bitcoins in South Africa (article in English)
Buying Bitcoins in Thailand (article in English)
Buying Bitcoins in the United Kingdom (article in English)
Buying Bitcoins in the United States (article in English)
Buying Bitcoins in Vietnam (article in English)
Buying Bitcoins in Belgium (article in French)
Buying Bitcoins in Morocco (article in French)
Buy Bitcoins in Argentina (article in Spanish)
Buying Bitcoins in Chile (article in Spanish)
Buy Bitcoins in Colombia (article in Spanish)
Buy Bitcoins in Mexico (article in Spanish)
Buy Bitcoins in Peru (article in Spanish)
Buy Bitcoins in Paraguay (article in Spanish)
Buy Bitcoin in Uruguay (article in Spanish)
Buying Bitcoins in Venezuela (article in Spanish)
Buying Ethereum in Belgium (article in French)
Buying Ethereum in Argentina (article in Spanish)
Buying Ethereum in Chile (article in Spanish)
Buying Ethereum in Colombia (article in Spanish)
Buying Ethereum in Mexico (article in Spanish)
Buy Ethereum in Canada (article in French)
Buying Ethereum in Switzerland (article in French)
Buy Ethereum in the United States (article in French)
Buy Litecoin in the United States (article in French)
Buying Ripple in the United States (article in French)