The legality of buying Bitcoin can be different from jurisdiction to jurisdiction. Therefore, when you are buying bitcoin, you need to consider the laws that apply to where you are buying bitcoin from.
Take for example, the laws in the US (and even between US States) will be different to the laws in Canada. Yes, there will be at times whereby the laws will be the same or similar, but that is not always the case. Hence, it is prudent to search for How to Buy Bitcoin in your location.
By narrowing down your search, you will be able to find information that is relevant to the legality of buying bitcoin and the best ways to buy bitcoin.
Currently Bitcoin’s popularity is found in North America and Africa. But Bitcoin’s popularity fluctuates between jurisdictions as legislation changes in location. The legislation will influence How to Buy Bitcoin in your location as well.
Some jurisdictions are more strict than others, and impose more onerous Know Your Client requirements. These requirements can be an inconvenience for those who aren’t adept with uploading selfies and providing proof of ID, however, the majority of buyers of Bitcoin should not have any problems.
Legislation in each jurisdiction will also dictate which exchanges and other platforms are available to their residents. For example, Binance which is one of the largest exchanges in the world, had to create a separate legal entity to be allowed to operate in the US. The US has one of the strictest licensing and legal requirements in the world, but it is also the largest market.
It is therefore prudent, as a buyer of bitcoin, to explore which exchanges are available and licensed in your jurisdiction.
Where to buy Bitcoin by US States
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia