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The State of Bitcoin in Alaska

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Alaska is one of the top 5 US states that is falling behind on Bitcoin and other digital currencies. At the moment, there isn't a single Bitcoin ATM or teller in the state. Simply put, people don't have anywhere to buy or sell their Bitcoin, only online.

A report by Crescent Electric Supply Company on bitcoin mining in the US puts Alaska in the company of Hawaii, Connecticut, Massachusetts, and New Hampshire. These are the worst US states for mining as the costs are far too great.

Isolated states have it worse than others because they don't have a developed energy infrastructure. Not only are their energy rates are really high, but it's also difficult to supply energy for large Bitcoin mining farms. Alaska has an average cost per mining a single Bitcoin at $7,059, with only Hawaii being more expensive at $9,483.

Anchorage, the capital of Alaska

Alaska defines digital currencies as digital units meant for exchange that rely on decentralized repositories. They have a pending bill HB 180, which was referred to authorities in 2018. If this bill passes, those companies that deal with digital coins will be regulated as currency exchange or money transmitters who need an adequate license.

At the moment, Alaska is a gray state without any Bitcoin regulation. However, mining is really poor, and there are only a small number of individuals who engage in such practices. At the same time, Bitcoin payments are popular in Alaska. But if you want to invest in mining or trading Bitcoin, there are many better states in the US to do so.

One of the easiest ways to buy Bitcoin in Alaska is through the cryptocurrency exchanges outlined above. There are several exchanges offering Bitcoin in Alaska, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.

Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet. If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.

LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.

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Alaska has access to many large Bitcoin and cryptocurrency exchanges.

Have a look at our favorites below:

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There are three main types of Bitcoin wallet and all of them are supported in Alaska:

• Software (desktop or mobile - iOS and Android wallets
• Hardware wallet
• Cold-storage (paper or steel wallets, the latter of which are used to backup your main wallet.

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Ethereum (ETH) has established itself as the second most popular digital currency, after Bitcoin. Its smart contract features allow unique apps to be built on top of its platform. Below you will find exchanges in Alaska that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.

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Thanks to Tesla founder Elon Musk, Dogecoin (DOGE)—a coin that started as a meme about the shiba inu dog—has recently become a popular digital currency. Below you can find crypto exchanges in Canada that allow you purchase Dogecoin.

About Dogecoin: Dogecoin has become one of the most famous altcoin blockchains. Dogecoin was founded by Jackson Palmer and Billy Markus on December 6, 2013. Thanks to its popularity on Robinhood, it hit an all time high of $0.42 on April 20. Doge started the year at under $0.01 USD. It is an open source blockchain, meaning its code is publicly available for anyone to see.

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Litecoin (LTC) is one of largest cryptocurrencies by market cap. Below you can find a list of brokerages in Alaska that allow you to buy litecoin and other crypto assets for good exchange rates.

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Crypto Alasks Ltd.

Cryto Alaska is known ponzi scheme running out of another country (currently unknown). The scheme targets Alaska residents and guarantees to double any Bitcoin investment in 24 hours.

You can see that crypto Alaska was not afraid to make insane guarantees even on their homepage

It should go without saying, but any service or investment opportunity that guarantees to double your money (especially in 24 hours) is either running a ponzi scheme (where they pay you out of new investor funds) or, in this case, they just accept your bitcoins and never talk to you again.

Do not send these scammers any of your cryptocurrency.

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Does Binance Work in Alaska?

Yes, Binance is available for customers in Alaska.

However, you cannot simply go to binance.com and sign up for an account.

Binance has a special website for US based customers at Binance.us

Due to US regulations, Binance US is more strict about handling KYC and AML of new customers.

This just means that verification may take a little longer than it would on regular Binance.

The biggest difference between Binance US and regular Binance is the coin support as well as some of the features available to users.

Because of this, you shouldn’t just look at the supported coins listed on binance.com and assume Binance US will sell it to you. It’s a good idea to make sure that the Binance US coin support list shows the coin you want to buy.

Does Coinbase work in Alaska?

Users in Hawaii cannot use any of Coinbase’s services.

User in Alaska can convert, buy, and sell cryptocurrencies with fiat. Supported payment methods are:

• Bank Account
• Deposit
• PayPal
• Credit Card

Does Gemini work in Alaska?

Users in Alaska can use all of Gemini’s products and services.

Does Coinmama work in Alaska?

Users in Alaska can use all of Coinmama's products and services.

Does Kraken work in Alaska?

Users in Alaska can use all of Kraken’s products and services.

What Alaska banks and credit unions are compatible with Bitcoin?

Currently, no banks or credit unions in Alaska will accept Bitcoin deposits. Alaska has a long way to go until we see any sort of legislation allowing traditional banking institutions to cusotdy Bitcoin or other cryptocurrencies for its customers.

Where Can I Find a Bitcoin ATM in Alaska?

There are currently no Bitcoin ATMs in Alaska.

You can use our Bitcoin ATM finder tool to check back in occasionally and see if one has opened.