How To Buy Bitcoins In The United States
It’s easy to buy Bitcoin in the United States. In fact, most of the world’s Bitcoin companies are headquartered in America. Today, it’s easy to buy BTC in the USA whether you’re buying with cash, bank transfer, or credit/debit card.
Coinbase is one of the most popular Bitcoin exchanges in the United States.
Like all other exchanges on this list, it charges a small fee for all transactions. For Coinbase, that fee is 3.99% for credit and debit card purchases. One thing to like about Coinbase is that you get access to your Bitcoins immediately.
A 3.99% fee is certainly high, but other methods on this list charge fees as high as 5 or 10%.
American customers have one additional payment method they can use to save fees. You can connect your bank account to pay a 1.49% transaction fee.
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With this method, however, your coins take about 5 days to deliver.
Pros Of Coinbase
- Easy for newbies to buy
- Can purchase with credit card, debit card, or bank transfer
- Gain access to Bitcoins instantly when paying by debit or credit card
Cons Of Coinbase
- Bank transfer BTC purchases can take up to 5 days to complete
- It’s not totally anonymous
CoinMama is available to customers across the United States and in virtually every country in the world.
That international compatibility comes at a price: CoinMama charges some of the highest fees in the Bitcoin world at 8% fees for each credit or debit card purchase.
One nice thing about CoinMama is the anonymity: if you’re buying less than $150 USD worth of Bitcoins, then you won’t need to verify your identity. It’s ideal for small, anonymous purchases – but the high fees make larger purchases relatively expensive.
- Works in all countries
- High limits for Bitcoin credit card purchases
- Reputable, long-standing broker
- High fees
- Built mostly for those outside of the United States
GDAX is a Bitcoin exchange owned and operated by Coinbase, which we just mentioned above.
GDAX is one of the largest and most popular BTC exchanges in the United States. It gives you a diverse range of transfer options – including SEPA or bank wire – combined with good prices and low fees.
GDAX has an overly complex interface that can scare away newbies, but it’s certainly become easier to use over the years.
- Low fees for customers in the United States and EU
- You can buy Bitcoins with a 0% transaction fee
- Confusing UI, especially for newbies
- GDAX may close your account if you’re using GDAX-purchased Bitcoins on shady websites
CEX.io is a Bitcoin exchange available to customers in the United States, Europe, and certain South American countries.
You can buy Bitcoin with ACH bank transfer, SEPA transfer, cash, or AstroPay.
If you buy with credit card, then you can receive access to your Bitcoin funds immediately.
- Supported in the United States, Europe, and some parts of South America
- 0.2% trading fees
- Reputable, long-standing exchange
- Extensive verification process that requires lots of personal information as well as a photo
- Low liquidity in certain currency markets (GBP users often complain about liquidity problems)
LocalBitcoins is less of an exchange and more of an escrow service.
It facilitates the trading of Bitcoins for real-world money between two buyers, and holds the amounts in escrow until the transaction is confirmed.
The most common method of payment on LocalBitcoins is cash deposit – although you can be connected with users who use virtually any payment method.
If you need Bitcoins in your hand as soon as possible, then a cash deposit with LocalBitcoins is one of the fastest ways to do it.
- Fast and easy
- No personal information required for in-person trades
- Low fees
- Fast BTC transactions via cash deposit
- You can get scammed
- It can be dangerous to meet someone in person with a large amount of cash/Bitcoins
- Harder to buy large amounts of Bitcoins compared to other exchanges (you need to find a buyer willing to sell that amount of BTC)