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You'll need a Bitcoin wallet before you buy since some exchanges require one.
Don't have a wallet? Read our guide on the best Bitcoin & cryptocurrency wallets.
eToro is a trading platform based in the United States. It supports Bitcoin, Ethereum, Litecoin, Zcash and many other coins.
Deposits can be made quickly via bank transfer or ACH. It also offers unique features like copy trading.
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
Coinbase is the world's largest Bitcoin (BTC) broker. They represent an easy and fast way for new users to purchase bitcoins. Coinbase supports customers in over 30 countries, including the United States, Europe (besides Germany), UK, Singapore, Canada, and Australia.
Customers in the above-mentioned countries can purchase bitcoins by debit card, bank transfer, SEPA transfer, and more.
Coinbase's exchange, Coinbase Pro, is one of the largest Bitcoin exchanges in the United States. Users can fund their accounts via bank transfer, SEPA, or bank wire. Coinbase Pro offers good prices and low fees, but their confusing user interface may initially prove difficult to navigate.
Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.
Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.
Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.
Bitcoin IRA offers a tax-advantaged way to invest in Bitcoin and Ethereum using your 401k or other retirement savings.
Bitcoin IRA is a US licensed IRA custodian, so you know your crypto or Bitcoin IRA is in full compliance with the Federal Government.
Gemini is a New York-based Bitcoin exchange, open to residents of the United States, UK, Canada, Hong Kong, Japan, Singapore and South Korea. Deposits can be made via wire transfer, SEPA or ACH transfer.
Founded mid-2011, Kraken is the one of the world's largest cryptocurrency exchanges, and the largest in Europe based on daily average trading volume. It is available in almost all countries.
Deposits can be made via bank wire, SEPA, ACH and SWIFT. Users can buy bitcoin, ethereum, dogecoin and dozens of other coins.
CEX.io lets you buy bitcoin with a credit card, ACH bank transfer, SEPA transfer, cash, or AstroPay. Purchases made with a credit card give you access to your bitcoin immediately. CEX.io works in the United States, Europe, and certain countries in South America.
Swan Bitcoin is a dollar cost averaging Bitcoin exchange, where users can set up recurring Bitcoin purchases to be drafted from their bank account or credit card every month or week.
LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. Users may advertise trades for whichever payment method they prefer.
Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country, including the United States, Europe (besides Germany), UK, Singapore, Canada, Australia and many more.
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.
Bitcoin in Arizona is free from restrictive legislation, meaning you can buy, sell, and transact with cryptocurrency without any state-level regulations. The state's money transmitter laws make no reference to any virtual currencies, and the Arizona Department of Financial Institutions has not released any guidelines relating to Bitcoin so far.
The state legislature has made some promising moves toward crypto adoption and recognition. One bill proposes to allow Arizonans to settle their income tax debts using Bitcoin, while another aims to regulate the Wild West of Initial Coin Offerings (ICOs). In addition, digital signatures and smart contracts are recognized as valid legal documents after a vote passed in the House of Representatives.
In addition to lawmakers, Bitcoin has caught the interest of others in the Grand Canyon state. One Phoenix payroll management company allows employees to receive their salary in Bitcoin, and even to invest part of their 401k in the cryptocurrency.
This all points to a bright future for Bitcoin and cryptocurrency in Arizona.
The best way to get your hands on some Bitcoin is to purchase it from an exchange. There are a number of highly-reviewed U.S. and international exchanges available in Arizona, all of which we go through below.
Another option is to use LocalBitcoins, which is a peer-to-peer marketplace where you can organize trades with other individuals who are looking to buy or sell Bitcoin. This means that you can use any payment method you on which you both agree. PayPal, bank transfers, and gift cards are some of the most common on the site.
Finally, Bitcoin ATMs allow you to purchase - and often sell - Bitcoin using cash. A Bitcoin ATM transaction is done in a matter of minutes, making it one of the quickest ways to turn the cash in your wallet into cold hard cryptocurrency in your (virtual) wallet.
Regardless of how you obtain your Bitcoin, you'll need to store it securely. If you lose your funds, Bitcoin's trustless and decentralized nature there's no one you can turn to. This means that storing it safely in a wallet is of utmost importance. Read on to find out more about the best Bitcoin and cryptocurrency wallets.
Arizona has access to many large Bitcoin and cryptocurrency exchanges.
Take a look at our favorites below:
There are three main types of Bitcoin wallet and all of them are supported in Arizona:
The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.
ZenGo is an easy-to-use iOS and Android Bitcoin & crypto wallet. Start within 20 seconds.
Arizona, like anywhere else, has seen its own local versions of Bitcoin and cryptocurrency scams. Paradise Valley police warned locals of a blackmailing scheme making the rounds, where letters would come in the mail threatening that the anonymous extortionist "[knew] about the secret you are keeping from your wife and everyone else." The letter requested payment in Bitcoin to avoid this "secret" being disclosed.
A more flashy and elaborate scheme unraveled in January 2020 when the founders of Zima Digital Assets were arrested by the Secret Service and charged with conspiracy to commit wire fraud and money laundering. ZDA - as it was called - presented itself as a hedge fund focusing on algorithmic cryptocurrency trading.
Source: ABC15 Arizona
At one point, they claimed to have over $1 billion in assets under management. ZDA touted their "array of exotic proprietary trading strategies, including but not limited to arbitrage opportunities, 80 long / 20 short, binary options positions, event-based trading in addition to leverage and margin application."
Zima - which stands for Zero Is My Algorithm - was founded by John Michael Caruso and his friend Zach Salter. Caruso's father - John Caruso Sr. - is alleged by the FBI to be part of the Colombo Mafia family in New York. Caruso Jr. (also known by his Instagram handle Kryp+0 K!ng) spent time in and out of jail before founding Zima, mostly for petty fraud including falsifying loan documents and rental applications.
Zima was incorporated in 2018 and paid out handsome profits to early investors even during that year's crypto bear market. Caruso was doing well too: he rented an $8 million mansion in Paradise Valley and took numerous private jet flights to Las Vegas, where he lost $1.4 million in a year where he reported just $22,000 of income.
The high-life lasted for more than a year, during which time Caruso was profiled by publications like Cigar Aficionado and Business Insider, with the latter proclaiming him "the Michael Jordan of Algorithmic Cryptocurrency Trading.” The scheme attracted at least $15 million from all sorts of investors, including retired seniors and ex-MLB players.
Source: Cigar Aficionado
Yet Zima was a textbook Ponzi scheme. In fact, prosecutors allege that not a single cent of the money Caruso & Co. received from investors ever went toward purchasing cryptocurrency. Instead, it funded the lavish lifestyles that they flaunted on Instagram. Following two anonymous tipoffs, social media gave investigators all the evidence they needed to conclude that something fishy was going on. After probing deeper, they found that Caruso and Salter had racked up $670k of credit card debt, $700k in private jet and luxury car rentals, $110k on jewelery and designer clothes, and $150k on rent for the Paradise Valley mansion. All of this came from investor funds, not from cryptocurrency earnings as they claimed.
Caruso and Salter were arrested on January 30 and are awaiting trial. While their ultimate fate remains unclear, one thing is for sure: investors in their Ponzi scheme will be lucky to see a dollar of their money returned.
Yes, Coinbase is open for business in Arizona.
Gemini is available in Arizona.
Yes, Coinmama is available to Arizonan Bitcoiners.
Kraken - the U.S.'s second largest exchange - is open for business in Arizona.
The best way to find a Bitcoin ATM in Arizona is to look at the map below or use a site like CoinATM Radar.
Here, you can view the closest Bitcoin ATMs to you, and even view live prices for supported digital assets.
The laws that regulate Bitcoin ATM ownership and operation in the U.S. are twofold: state and federal. As Arizona has no laws specifically pertaining to Bitcoin ATMs, the only applicable laws are federal. The major piece of relevant legislation is the Bank Secrecy Act of 1970 (BSA). The BSA sets certain requirements for financial institutions to assist federal agencies combat money laundering, tax evasion, and other crimes. It notably introduced the requirement for institutions to report transactions above $10,000 in value.
Operating a Bitcoin ATM is classified as a money service business (MSB). Operators must register as such with the Financial Crimes Enforcement Network (FinCEN). This is a relatively straightforward process: it can be done online within 180 days of commencing business, and must be renewed every two years. Operators must also keeps records of transactions, collect customer identification, and report to federal agencies when certain red flags are raised.
Additionally, owners must develop and put into practice a comprehensive anti-money laundering (AML) strategy. This must address and include the four pillars defined by FinCEN:
As each case is different, you'll want to speak with a lawyer who specializes in financial regulation to get legal advice tailored to your situation.