Do you live in New York and want to know the easiest way for you to buy Bitcoin? If so, then you have come to the right place! We have all the research and information you need to know about purchasing Bitcoin in the state of New York.
Bitcoin can be purchased through online exchanges in New York like Coinbase, and Gemini. In-person exchanges can also be a great way to buy Bitcoin, and locations like ATMs and Walmart make buying bitcoin easy. Some platforms are allowed in New York, like Binance.
Purchasing Bitcoin may seem stressful and like an unknown task, but we have made a great list of where you can purchase Bitcoin in New York. If you want to learn more and have your questions answered, make sure to keep reading!
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Binance Exchange
Binance exchange is a Bitcoin exchange that is strictly online. If you live in New York and want to purchase Bitcoin, you will not be allowed to do it through the Binance exchange. You may be curious as to why you cannot use Binance if you live in New York. The answer to that question is that Binance did not receive a BitLicense from the state of New York. Binance was one of the first Bitcoin exchange platforms to be banned in the state of New York. This may be because it uses an excessive amount of energy, or could be for many other reasons.
What if I use Binance outside of the state?
Luckily for you, if you are traveling outside the state of New York, you can follow certain steps and use Binance in states where it is allowed and where they have a BitLicense. What you need to be able to do this is if you are traveling to another US state, you will need a VPN, which is a Virtual Private Network. Then, if you want to travel internationally you will need to find Bitcoin exchange platforms that allow international buying of Bitcoin. All you have to do is research different buying platforms and find one that allows it. Next, follow their steps and rules and you are good to go!
Down below are some other things to know about Binance Exchange if you are going to go the route of traveling out of the state of New York to use Binance. Keep in mind the rules of the state and remember to follow them.
Is Binance easy to use?
Learning the ropes with Binance comes with a bit of a learning curve. This is because this specific crypto is typically known for working with advanced users instead of beginners. But, if you are a beginner, it may take a bit of time to get used to Binance, but it is definitely possible! Binance has an app and website that makes buying Bitcoin super accessible!
Are there any fees for Binance?
Yes, there are fees for Binance. The fees range from 0%-3.75%.
Why should I travel out of New York to use Binance?
It’s unfortunate that you cannot buy Bitcoin from Binance in the state of New York. Although this is the case, you can always use Binance outside of your state if you are in a location that allows it, and if you follow the rules and regulations. You may be wondering what the point of doing this is. Well, if you are a Bitcoin fanatic, and you really want to try out Binance, then trying it while you are out of state is an option. Binance is also one of the top-rated Bitcoin exchange platforms out there, making it a necessary try for your Bitcoin bucket list.
There are tons of other options for Bitcoin platforms if you really don’t want to go out of state just to use Binance, but if you are itching to try it, then consider taking a vacation, and using Binance while you’re at it.
Coinbase
Do you want to use a Bitcoin exchange that is a bit easier than Binance, if so, Coinbase would be perfect for you! Coinbase is another online Bitcoin exchange where buying, selling, and exchanging Bitcoin occurs. Coinbase is known for being one of the safest, most trustworthy companies where you can purchase Bitcoin.
Are there fees on Coinbase?
There are little to no fees on Coinbase. The fees on Coinbase are 0%-0.50%.
Is Coinbase easy to use?
Yes, Coinbase is quite easy to use. It’s very user-friendly and typically easier to use than Binance. Coinbase is a great option for those who are starting out as Bitcoin beginners. My husband uses Coinbase and he says is it super easy to use and doesn’t really have much of a learning curve. All you have to do is go on their app or website, and you are good to go!
Why should I use Coinbase in New York?
Coinbase is a great option for those of you in New York who are wanting to purchase Bitcoin, this is because it is 100% online. This means you can buy Bitcoin from the comfort of your own home! Imagine waking up with a coffee in hand, you go to sit on the couch, you open your Coinbase app, and you invest in some Bitcoin! It’s easy as that. This is why if you live in New York, buying Bitcoin on Coinbase is a fantastic option for you!
Gemini
Gemini is a lesser-known but just as good option for purchasing Bitcoin online. It’s not as popular as Binance or Coinbase, but from what I have seen, it’s just as good!
Are there fees on Gemini?
Yes, there are fees for Gemini. These fees range from 0%-1.49% or slightly higher.
Is Gemini easy to use?
Gemini is known for being easy to use, just like Coinbase. It is user-friendly and even has a portal for peer-to-peer, in-person trading of Bitcoin. This means that buying Bitcoin off of Gemini would be so easy, you will want to do it every day!
Why should I use Gemini in New York?
Just like Binance and Coinbase, Gemini offers an individual the opportunity to buy Bitcoin from their own home, their office, the bus, or wherever they are. This makes buying Bitcoin easy in New York, and Gemini can help you with your Bitcoin need!
Other Online Crypto exchange companies
Binance, Coinbase, and Gemini are some of the best cryptocurrency exchange sites, but there are tons of other companies that do Bitcoin purchasing, selling, and trading. Platforms like Webull, Robinhood, and Kraken, all offer similar benefits and have similar fees as all of the other platforms mentioned above.
Just because these aren’t as popular, doesn’t mean you can’t use them! Consider using other online Bitcoin purchasing sites by researching some platforms and choosing your favorite one!
Before using any of these companies. You need to make sure that they have a BitLicense for the state of New York. Do a little bit of research, if you want to use an alternative platform, and find one that has the license and that you like! You’ve got this!
P2P Exchange
P2P Exchange stands for person-to-person exchange of Bitcoin. This is exactly what it sounds like. You can buy, sell, and change bitcoin in person if that is something you want. There are certain ways in which you can do this. There are websites where you can view person-to-person marketplaces near you and find people to buy from. Some platforms like Gemini have portals where you can find people to buy Bitcoin from in person. Lastly, if you know of any friends or acquaintances who have Bitcoin, you can facilitate the purchasing of, selling, or trading of Bitcoin.
Why is this a good option if you live in New York?
If you live in New York, human connection is likely. The sidewalks are busy and filled with people, the streets are filled with cars that are also filled with people, and the skyscrapers are filled with even more people. With the number of people that are in New York, it can be easy to buy Bitcoin in person. All you have to do is make sure the company you are using to facilitate this has a BitLicence, and you are good to go!
Bitcoin ATM
Did you know you can buy Bitcoin at crypto ATMs? Well, if you didn’t, now you know! With Bitcoin ATMs, you can easily purchase Bitcoin as you are walking to work in New York. These Bitcoin ATMs are trustworthy, safe, and easily accessible for you and your Bitcoin buying needs! All you have to do is search up Bitcoin ATMs, find the closest one to you, and buy yourself some Bitcoin. Easy as that!
Walmart
Buying Bitcoin can seem stressful and strange because it’s a new thing. But lucky for you, you can now purchase Bitcoin in 200 different Walmart store locations. This can be super easy because all you have to do is call up Walmarts near you, and see if they facilitate the purchasing of Bitcoin at their kiosks, and if they do, buy some Bitcoin! Super easy right? If you live in New York, it is possible that you are busy a lot of the time, and might not have time to go out of your way and purchase Bitcoin. With this Walmart option, it would be super easy to buy some Bitcoin while you are buying groceries! Two birds with one stone right?
Is Bitcoin the Same Price Everywhere?
If you are new to buying Bitcoin, it can seem scary if you don’t know how it works or how much it costs. You may be wondering if the price of Bitcoin is the same throughout all of these purchasing platforms and if the price will ever change. Well, we are here to answer your questions!
Is Bitcoin the same price for every platform?
The price of purchasing Bitcoin is the same for every single Bitcoin platform out there. The only thing that may cause an increase in the fees for that specific platform. Some platforms will have higher purchasing fees, withdrawing fees, etc, while some will have little to no fees at all. Buying Bitcoin can seem scary, but it is a little bit comforting to know that the price is pretty much the same wherever you purchase Bitcoin.
Will the price ever change?
Bitcoin prices fluctuate as supply and demand vary, but again the prices will remain the same throughout each company. On platforms like Binance, Coinbase, and others, you can track the prices and see if they increase or decrease. You can then purchase the Bitcoin when it’s at the price you want it to be.
Is Purchasing/ Trading legal in New York?
Some of you may be wondering if buying and trading Bitcoin in New York is even legal. Bitcoin is legal in the state of New York, but there are certain rules and regulations that come along with it. Once Bitcoin started becoming more and more popular, the state of New York became worried about environmental factors regarding the amount of energy Bitcoin mining requires. So, to help with those worries, the state of New York came up with some rules and regulations to assist Bitcoin users.
One of those rules is that businesses that are facilitating Bitcoin exchanges have to have. BitLicence for the state of New York if they want residents of New York to be using their platforms to buy Bitcoin. Coinbase and Gemini both have a BitLicense for the state of New York, so you are allowed to use it there. Following the rules and regulations of Bitcoin buying is super important, and you could get in trouble if you use a platform that does not have a BitLicense. So, just make sure that whatever platform you use, that they have the BitLicense, and you are all good to go!
Bitcoin buying can seem like a huge task, but it’s easy once you find the right place to purchase the Bitcoin. We wish you the best of luck New Yorkers!
