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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.
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%.
Connecticut is unique in the United States in that its money transmitter laws require all parties engaging in a transaction to obtain a money transmitter license. This even applies if you're just buying or selling Bitcoin with another individual.
Connecticut passed a bill in 2018 that defined "virtual currencies" and explicitly stated that Bitcoin and other virtual currencies fall under the existing money transmitter laws.
The Connecticut Department of Banking outlined its "no-action position" on Bitcoin transactions between parties that do not hold money transmitter licenses, as long as they meet certain requirements. This no-action position does not mean that these transactions are completely legal according to the letter of the law, it just means that the Department will not pursue action against the parties engaged.
All this to say that the state of Connecticut does not have the most favorable view of Bitcoin in the nation.
Despite these regulations, it's still possible to buy Bitcoin in the Nutmeg State. Many larger exchanges have applied for and received the necessary licenses that allow them to provide virtual currency services. If you go through one of these exchanges - which are reviewed below - you won't need to obtain a license for yourself. This is the easiest way to buy Bitcoin in Connecticut.
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. Be aware that you'll need a written agreement satisfying the requirements linked above if you want to ensure you're 100% in the clear.
Bitcoin ATMs allow you to purchase Bitcoin using cash. There are dozens of Bitcoin ATMs in Connecticut, meaning you should be able to find one close to you. A Bitcoin ATM transaction is done in a matter of minutes, making it one of the quickest ways to turn your cold hard cash into 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.
Despite its money transmitter license requirements, Connecticut 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 Connecticut:
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.
Bitcoin and crypto scams are less about the technology and more about facilitating already criminal behavior, just like cash. While once criminals demanded ransoms in cash, many are now turning to crypto to help cover their tracks. This is the idea behind "ransomware," where hackers attack large institutions, encrypt their files, and demand payment before unlocking them.
A more personal form of extortion struck Connecticut a few years ago. Letters arrived at a number of households in Farmington, Ridgefield and Redding, demanding payment or else they or a family member would be killed. The letters included detailed instructions for purchasing Bitcoin and sending it to the perpetrators's address.
You do not know who we are, but we have been tracking you and your loved ones for a while now.We know your schedules. We know where you all live and spend your time. We also know how to kill any one of you without being caught. Now XXX, don’t panic. This isn’t personal. You did nothing to deserve this. You were just one of a handful of families unfortunate enough to draw our attention. However, nobody has to die. Allow us to explain.
You have until 12:00 PM on February 13, 2015 to pay us $2,000. If you do not comply with that simple demand, the following will happen: we will kill you, XXX, or someone else to whom you are close. Or you can simply pay us the $2,000. To make the payment do the following.
1. Open an account at any online Bitcoin exchange, such as Bitstamp.net or Coinbase.com
2. Deposit $2,000 into that account. Do not wait until the last minute to do this. It will likely take you about a week to open an account, get it verified, and process the transaction.
3. Use the entire $2,000, minus whatever small fee the exchange charges, to purchase Bitcoins on the exchange. If you are unsure about the process of buying Bitcoins, Google it.
4. Withdraw all Bitcoin you purchased to the following Bitcoin address: 19vcdWcV4J8bhH7j3igHZ5q4WGT2UX5V2S. Be sure to type all 34 characters of that Bitcoin address in EXACTLY. It is case sensitive. The first character is a number “one”, NOT a lowercase “L”.
You are finished. Breathe easy, and live your life in peace knowing you will never have to deal with us again.
Local police said that the letters were unusual in that they were posted via USPS, not email or another form of more anonymous communication. They were also well-written and contained personal information of the intended victims. Letters sent to Farmington were postmarked from as far away as Austin, Texas and Jacksonville, Florida.
Another attempt at extortion in Connecticut also had scammers using Bitcoin as their preferred method of payment. A South Windsor woman received a call which informed her that the federal government was looking for her. The man on the phone recited her complete Social Security number and said that it had been stolen and was being used by a woman in El Paso, Texas.
He then connected her to a woman who identified herself as a member of the Manchester Police Department. This woman advised the confused recipient of the original call to cooperate and do whatever was requested. The man then told her that he needed to confirm her identity, which she could do by withdrawing money from her bank account, using a Bitcoin ATM to purchase Bitcoin, then sending it to a specified address.
Luckily, the woman called the police (the real police) who assured her that "law enforcement agencies never accept money or Bitcoin in lieu of a surrender. As a reminder, any citizen can contact their local police department to confirm if they are wanted."
As always, it pays to be cautious with unsolicted callers asking you to transfer money for any reason. Until you can pay your taxes with Bitcoin, you won't have to worry about the government requesting payment in the cryptocurrency.
Having obtained a money transmitter license, Coinbase is open for business in Connecticut.
Gemini is available in Connecticut.
Yes, Coinmama is available in Connecticut. Its services are provided by a third-party platform with a money transmitter license.
Like Gemini and Coinbase, Kraken has obtained a money transmitter license and is open for business in Connecticut.
The best way to find a Bitcoin ATM in Connecticut 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.