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There is no regulatory framework in Idaho regarding cryptocurrencies. Still, the state’s Department of Finance issued 20 “no action and opinion letters” focused on virtual currency related issues.

A view of Boise - the capital of the state of Idaho

The latest letter posted in July 2016, made the difference between a person who was selling its own cryptocurrency and an exchanger who was holding, buying or selling crypto funds to a third party. The first was not being considered a virtual currency transmitter under the Idaho Money Transmitters Act.

Idaho considers these assets as their property, and people have the right to do whatever they want with it. This means Idaho is protecting consumer's soveignty over their Bitcoin investment, making Idaho a great state to buy Bitcoin. The state's largest credit union, Idaho Central Credit Union’s (ICCU’s) has integrated Bitcoin services into its platform, allowing customers to buy, sell, and hold BTC within their accounts.

One of the easiest ways to buy Bitcoin in Idaho is through the cryptocurrency exchanges outlined above. There are several exchanges offering Bitcoin in Idaho, 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.

Another way to buy Bitcoins in Idaho is through automated teller machines (ATMs). These ATMs allow users to instantly purchase the cryptocurrency using cash, and most of them only require a telephone number for verification, so long as you aren’t buying a lot of Bitcoin. This makes them more private than exchanges.

You can use our Bitcoin ATM finder tool to find the one nearest you.

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. Similar to craigslist, this does introduce a degree of risk,. You can minimize that risk by conducting all business on the platform, making use of its escrow services, and only trading with users who have a good reputation.

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

• 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 Idaho 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 Idaho that allow you to buy litecoin and other crypto assets for good exchange rates.

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In February of 2020, three schools from Idaho Falls area locked down after receiving emails offering information about an upcoming public safety threat in exchange for Bitcoin. Even though the police were convinced it was a scam, they took the threats seriously and treated them as a crime and investigated them.

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The East Idaho News did a business spotlight in August 2021 of T-Ball Miners, a company that has been hosting a mining operation for over 6 years. The company mines Bitcoin and other cryptocurrencies in an Idaho Falls warehouse. Co-owner Braxton Ball stated that Idaho Falls was selected because of the cheap energy costs.

With a low cost of electricity at a rate at 8.67 cents per kWh, Idaho is the 2nd cheapest state in terms of electricity rates to mine in.

Check the map below to see how much it would cost to mine one Bitcoin in Idaho:

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Does Coinbase work in Idaho?

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

• Bank Account
• Deposit
• PayPal
• Credit Card

Does Binance Work in Idaho?

As of March 2021, Binance is not available to any customers living in Idaho.

If this ever changes, we will update this page to reflect that change.

Keep in mind that no one in the United States can ever use Binance.com.

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.

Does Gemini work in Idaho?

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

Does Coinmama work in Idaho?

Users in Idaho can use all of Coinmama’s products and services.

Does Kraken work in Idaho?

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

Does Kucoin work in Idaho?

As of now, Kucoin does not accept customers from any US state, including Idaho.

Where Can I Find a Bitcoin ATM in Idaho?

The best way to find a Bitcoin ATM in Idaho is to use our Bitcoin ATM finder tool.

Here, you can filter by any of the most popular cryptocurrencies and find ATMs that support buying, selling, or both.

How do I cash out of Bitcoin in Idaho?

Any exchange listed above will allow you to sell your Bitcoin for fiat currency.

Another way to sell Bitcoins in Idaho is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private.

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.

You could also use a service like eGifter to sell your Bitcoin for gift cards.