If you are an investor who lives in New York, you are probably aware that NY had some pretty strict regulations in regards to Bitcoin. Fortunately, the rules in New York have been eased over the past few years, making Bitcoin more accessible for anyone living in the area. Many options now exist for anyone looking for how to buy Bitcoin in NY.

This article aims to outline the best way to buy Bitcoin in New York; we will look at some popular online platforms and also outline how to buy Bitcoin from a Bitcoin ATM.

Coinbase is perhaps the best platform for anyone looking to buy Bitcoin for the first time. The platform launched back in 2012 and boasts over 56 million users worldwide.

If you are looking for how to buy Bitcoin in New York, then Coinbase is a great solution.

Alternatively, you can top up your account via bank transfer and then use the funds to buy Bitcoin in the same way; however, you will need to select pay with account balance when choosing a payment method.

It’s also worth noting that Coinbase offers a free $10 in Bitcoin when making your first purchase of $100 Bitcoin or more on the Coinbase standard platform.

Coinbase users can also head to the Coinbase Earn section of the site and earn over $10 in free cryptocurrency by completing a few short quizzes.

For more experienced traders, Coinbase Pro offers lower fees and comes at no extra cost.

The sign-up bonus is only available on the standard platform, so we recommend using that before using the Pro version.

Visit Coinbase Now

Yes, I know – KuCoin is not regulated and very risky to use if you are a US resident, let alone if you are a New Yorker.

However, KuCoin is still hovering in the grey area of regulatory spectrum and a lot of Americans use Kucoin with no issues for years now. It is a great place to buy, trade, stake, mine, loan, lend, bot trade etc crypto. It is a real swiss knife, a poor-man’s Binance if you want.

Plus, they are always among the first exchanges to list low-cap gems that are yet to explode in price (usually once they are listed on Coinbase or Binance). That is why Kucoin (and Gate.io) are two of the most popular smaller exchanges among real crypto nerds.

You can buy crypto on Kucoin with credit cards and bank transfer. They also have a P2P marketplace that supports dozens of other more rare payment methods.

Visit KuCoin Now

Gemini was founded by Tyler and Cameron Winklevoss (Co-Creators of Facebook) in 2015. Despite launching more recently than most of their competitors, they’ve quickly built a great reputation in the community and they consistently have some of the largest daily Bitcoin trading volume of all exchanges.

As a New York based cryptocurrency exchange, Gemini is fully regulated by the New York State Department of Financial Services (NYSDFS).  This requires them to meet capitalization, consumer protection, anti-money laundering, compliance, and cyber security requirements set by the NYSDFS.

Visit Gemini Now

If you are looking for the most straightforward way to buy Bitcoin, then CashApp is the best option.

CashApp allows its users to buy Bitcoin in a few clicks.

After buying Bitcoin on CashApp, you will find it in your CashApp Bitcoin wallet.

Robinhood was primarily made for people interested in the stock market. Robinhood has recently moved into the world of cryptocurrency, allowing its users to invest in Bitcoin.

It’s worth noting that Robinhood is offering three free shares for anyone who signs up to the platform through a referral link.

Sign up at Robinhood

Complete the KYC process

When buying Bitcoin on Robinhood, you don’t get a Bitcoin wallet. Robinhood holds your funds for you, but you are free to sell your Bitcoin whenever you want.

Robinhood is planning to launch Bitcoin wallets as soon as they can.

Another option that is becoming more popular is to purchase Bitcoin through a Bitcoin ATM. There are more and more locations across New York State that are installing Bitcoin ATMs. LibertyX has over 1,000 Bitcoin ATMs spread across New York State.

Bitcoin ATMs allow you to purchase Bitcoin with a bank card.

Note: You will need a Bitcoin wallet to use a Bitcoin ATM.

A great Bitcoin wallet can be made at Blockchain.com.

To summarise, buying Bitcoin in New York isn’t all that difficult. Updated regulations mean that there are now more options than ever before for investors looking to buy Bitcoin. We recommend using Coinbase as they have a generous sign-up incentive that will allow you to get an extra $10 in Bitcoin when making your first $100 purchase. The Coinbase Earn program will also allow you to earn an extra $10 in assets.

More serious investors will want to try Coinbase Pro or Binance as they provide more features compared to the standard Coinbase platform.

If you are looking for the most straightforward way to buy Bitcoin, then CashApp is a great choice. The app has a great user interface and allows its users to buy Bitcoin in just a few taps; this option is, however, limited and lacks features when compared to Coinbase or Binance.

For anyone looking for a more personal experience, purchasing Bitcoin from a Bitcoin ATM is a good option. Anyone looking to buy Bitcoin can download the LibertyX app and use it to find an ATM and create an order. Payment can then be made through card, and the Bitcoin sent to your wallet.

All in all, Bitcoin regulations in New York have come a long way in the past few years. Many options now exist, and with more and more ATMs appearing across the state, more people are starting to become interested in Bitcoin and other assets.

Coinbase is the most popular crypto exchange in the U.S. and is available to New York residents.

Binance is the largest and most known crypto exchange in the world, but BINANCE IS NOT available to New York residents.

Binance US is a US-based offshoot of Binance, but BINANCE.US IS NOT available to New York residents.

New York is home to Gemini, and the Winklevoss brothers’ company was among the first to receive a BitLicense allowing them to operate in the state. Gemini is an active supporter of crypto regulation, believing it will lead to a safer ecosystem and greater adoption.

Coinmama does not work in New York.

Cex.io does not work in New York.

Kraken is not available in New York. The company ceased its operations in the state in 2015, as a direct consequence of what they termed the “abominable BitLicense”.

Like all US residents, Kucoin does not allow New York residents to go through KYC on their platform. That does not mean that New York users cannot use the platform. It just means they are limited to withdrawing only 2 Bitcoins per day.

The post How to Buy Bitcoin in New York: Best 5 Crypto Exchanges in NYC appeared first on CaptainAltcoin.

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