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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.
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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, UK, Singapore, and Canada.
Customers in the above-mentioned countries can purchase bitcoins by debit card, bank transfer, SEPA transfer, and more.
Get up to $36 in free crypto when you signup using Coinbase Earn.
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.
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.
Get $20 of free BTC after trading $100 or more within 30 days.
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.
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.
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.
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%.
In 2018, Illinois state representatives introduced a bill that would allow citizens to pay taxes in cryptocurrencies, which authorities would convert to dollars within 24 hours of receipt.
In 2020, there was another bill proposed by the Illinois State legislature which proposed that virtual currencies could be added onto the list of assets that would be considered abandoned after five years if there were no interaction between the custodian and the owner of the asset.
In June 2021, the Chicago Tribune reported that Illinois is striving to position itself as a cryptocurrency financial center. Many factors point to this idea already becoming a reality. First, the Chicago Mercantile Exchange Group (CME) has been trading bitcoin futures since 2017. In addition, the state has the largest mining facility in the Midwest operated by Sangha Systems, and the Chicago-based Bitcoin ATM operator, CoinFlip.
All of these developments signal that Illinois is thinking about Bitcoin and creating a regulatory framework around it. That means that now is a good time to invest if you are citizen of Illinois.
If you are, and are curious about how to invest in Bitcoin, one of the easiest ways is to buy through the cryptocurrency exchanges outlined above. There are several exchanges offering Bitcoin in Illinois, 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 Illinois 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. 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.
There are three main types of Bitcoin wallet and all of them are supported in Illinois:
The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.
Coinbase is an easy-to-use iOS and Android crypto exchange and wallet. Start within 20 seconds.
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 Illinois that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.
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.
Litecoin (LTC) is one of largest cryptocurrencies by market cap. Below you can find a list of brokerages in Illinois that allow you to buy litecoin and other crypto assets for good exchange rates.
In 2020, several scams were reported to the University of Illinois Police Department. The victims were students who were asked to make certain payments in Bitcoin in exchange for resolving arrest warrants, or not disclosing certain embarrasing videos of the students.
Univeristy police recommended students report the threats and avoid making any payments to the scammers.
Yes, Binance is available for customers in Illinois.
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.
Users in Illinois can convert, buy, and sell cryptocurrencies with fiat. Supported payment methods are:
Users in Illinois can use all of Gemini’s products and services.
Users in Illinois can use all of Coinmama’s products and services.
Users in Illinois can use all of Kraken’s products and services.
As of now, Kucoin does not accept customers from any US state, including Illinois.
The best way to find a Bitcoin ATM in Illinois 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.
The best way to buy Bitcoin in Chicago is to use one of the exchanges listed at the top of this page.
Any exchange listed above will allow you to sell your Bitcoin for fiat currency.
Another way to sell Bitcoins in Illinois 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.
And, as mentioned previously, you can also use LocalBitcoins.
You could also use a service like eGifter to sell your Bitcoin for gift cards.