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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.
Coinbase Pro 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.
Bitcoin IRA Buy Now
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 Buy Now 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.
Swan Bitcoin Buy Now 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.
Get $10 in free BTC when you make your first purchase.
Bitcoin ATMs Buy Now 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%.
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Colorado has some of the most favorable Bitcoin and cryptocurrency laws in the United States.
The state's governor - Jared Polis - was the first U.S. representative to accept campaign donations in Bitcoin. In 2019, he signed into law Colorado's Digital Tokens Act. The Act clarifies many uncertainties relating to cryptocurrency business dealings and exempts them from the state's securities regulations as long as they are intended for a "consumptive purpose." This means that transacting in Bitcoin is not subject to securities regulation, though speculative trading and investment remain governed by those laws.
(III) Colorado has become a hub for companies and entrepreneurs that seek to utilize cryptoeconomic systems to power blockchain technology-based business models;
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(c) [The] Colorado Digital Token Act, with limitations to protect consumers, will enable Colorado businesses that use cryptoeconomic systems to obtain growth capital and expand their businesses, thereby promoting the formation and growth of local companies and the accompanying job creation and helping make Colorado a hub for companies that are building new forms of decentralized "Web 3.0" platforms and applications.
Colorado SenateSENATE BILL 19-023, "Digital Tokens Act"Colorado's pro-crypto laws and consumer protections means that it's a great state in which to do business.
The best way to buy Bitcoin in Colorado is by using one of the many great exchanges available in the state, which are reviewed below.
You can also use Bitcoin ATMs if you're looking to turn your cash into crypto quickly.
LocalBitcoins is another alternative. It's a peer-to-peer marketplace that supports many different payment methods, from cash in person, to bank transfers, and a range of gift cards, including Steam and Amazon.
No matter where you buy your Bitcoin, you're going to need to store it somewhere. Exchange wallets are the riskiest option, and there are much more secure options out there that suit a range of needs, from easy to use software wallets to top of the line hardware wallets.
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Colorado has access to many large Bitcoin and cryptocurrency exchanges.
Take 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 Colorado:
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.
Electrum is a Bitcoin-only wallet that has been around since 2011. It's easy to use, but has advanced features.
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Despite the state's favorable attitude to Bitcoin, there have been a number of cryptocurrency-related scams in Colorado by people looking to make a quick buck.
One notable case occured in 2018, when the Colorado Department of Transport was hit by a ransomware attack. Ransomware typically involves hackers gaining access to an organization's internal computer systems, encrypting all their files, and demanding payment in cryptocurrency in order to unlock the files.
This particular ransomware attack - named SamSam - encypted files and renamed them "I'm sorry." A hospital in Indiana paid $55,000 to the hackers in order to regain access to their documents.
A spokeswoman for the CDoT said that they didn't plan on paying a single cent of the requested ransom, and that the Department had robust backup measures to counter this sort of attack. Over 2,000 computers were affected, though service was restored after McAfee released a patch for their security software that addressed the ransomware virus.
In another scam that netted a whole lot more than $55k, three men including a Coloradan were arrested over what authorities allege was a $722 million Ponzi scheme.
The co-conspirators ran a mining pool called BitClub Network from April 2014 through to December 2019. But instead of being a legitimate mining operation, Bitclub Network was a classic Ponzi. It had all the hallmarks: promising outsized returns (up to 12% daily) and offering rewards for signing up new investors.
Bitclub Network funded the men's lavish lifestyles for more than five years, until they were charged with conspiracy to offer and sell unregistered securities and conspiracy to commit wire fraud. The first charge carries up to five years in federal prison, while the wire fraud charge could land the men behind bars for up to 20 years.
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Mining has been a mainstay of Colorado's economy for more than 100 years. While the western half of the state is rich on gold and silver deposits, a new kind of mining has taken hold in Colorado in the last decade.
MGT Capital Investments, LLC. announced in 2019 that they would be relocating 6,300 S9 Antminer Bitcoin mining rigs from their previous home in northern Sweden to a new facility in Colorado Springs.
The Colorado Springs facility began operations with an initial capacity of 10 MW, and MGT plans to expand that by another 30 MW to a total of 40 MW.
MGT joined 3G Ventures - a California-based company whose operation is also located in Colorado Springs - as the largest Bitcoin miners in the state.
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Yes, Binance is available for customers in Colorado.
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.
Yes, Coinbase is open for business in Colorado.
Gemini is available in Colorado.
Yes, Coinmama is available to Coloradan Bitcoiners.
Kraken - the U.S.'s second largest exchange - is open for business in Colorado.
The best way to find a Bitcoin ATM in Colorado is to use our Bitcoin ATM finder tool.
Here, you can view the closest Bitcoin ATMs to you, and even view live prices for supported digital assets.
Jordan Tuwiner is the founder of BuyBitcoinWorldwide.com. His work has been featured in The Guardian, International Business Times, Forbes, VentureBeat, CoinDesk and many other top Bitcoin media outlets. His articles are read by millions of people each year looking for the best way to buy Bitcoin and crypto in their country.
He has also written extensively about the history, technology, and business of the crypto world. Jordan is also the creator of some of the internet's most famous Bitcoin pages, including The Quotable Satoshi and Bitcoin Obituaries.
To learn more about Jordan, see his full bio.
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