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The state of Nevada has taken a very pro-crypto stance in recent years, and has formalized this attitude in multiple bills which grant a range of rights and liberties to cryptocurrency firms and individual investors.

Senate Bill 398's passage in 2017 enshrined blockchain's status as "a type of electronic record for the purposes of the Uniform Electronic Transactions Act," which is a set of legislation concerning the retention of paper records (in particular bank checks) and the validity of electronic signatures. This means that “if a law requires a record to be in writing, submission of a blockchain which electronically contains the record satisfies the law." The Bill also prohibits local governments from taxing or restricting the use of blockchain technology.

Following the success of SB398 in attracting blockchain technology firms to the state, Nevada's Governor signed four further blockchain bills in 2019.

Nevada's blockchain-friendly legislation and lack of income tax helped attract one of the more ambitious crypto millionaires to the state. Jeffrey Berns's company - Blockchains LLC - bought more than 67,000 acres of land near Sparks, NV, in 2018. This parcel of land surrounds Tesla's gigafactory (the largest factory in the world) and an industrial park home to Google, Apple, and Switch. The deal was settled for $170 million, in cash. Having made his fortune as an early cryptocurrency investor, Berns has now turned his attention to creating a "smart city" running on blockchain technology.

There are plans for a college, a research campus sprawling over hundreds of acres, and an e-sports arena. Despite having already spent more than $300 million of his own money, Berns has no plans to rule Blockchain City with an iron fist. He promises to relinquish all decision-making power and 90% of any income it creates to a decentralized autonomous organization (DAO).

Blockchains also works on digital asset custody and digital identity management, both of which it hopes to integrate into its future smart city. Imagine a community with money but no banks, where citizens control exactly whom they share their information with.

That said, the project has got off to a slow start. Despite originally planning to break ground on construction in late 2019, that milestone has now been pushed to 2022. Blockchains LLC has 67 full-time employees in northern Nevada, and 52 employees in Europe. This falls short of the company's original goal of having 1,000 employees by 2021, which it recently described as "very optimistic and... likely no longer feasible." That said, Jeffrey Berns remains committed to the project.

While it's currently unclear if Bitcoin will be the currency of choice in the future Blockchain City, there is no reason to wait until then to get your hands on some Bitcoin. The best way to purchase Bitcoin in Nevada is through one of the many reputable exchanges open for business in the state. See below for our review of the best U.S.-based and international options.

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.

Bitcoin ATMs allow you to purchase Bitcoin using cash. A Bitcoin ATM transaction takes just a matter of minutes, making it one of the quickest ways to turn 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 means there's no one you can turn to. This means that storing it safely in a wallet is important. Read on to find out more about the best Bitcoin and cryptocurrency wallets.

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Nevada 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 Nevada:

• 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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Circle Society, Corp. Fraud

It seems that wherever there is the opportunity to make a quick buck, there are people willing to defraud others in order to do so. Nevada is no exception. A number of Nevada residents have been caught using Bitcoin for fraudulent or illicit ends.

In 2019, the U.S. Commodity Futures Trading Commission filed a civil enforcement action against David Gilbert Saffron of Las Vegas and Circle Society, Corp., an entity created by Saffron. The CFTC accused him of fraudulent solicitation, misappropriation, and registration violations relating to an investment scheme that drew in more than $11 million through Circle Society. Saffron falsely represented his trading history and expertise, and promised investors returns of up to 300%. He also claimed to trade on behalf of Mark Cuban, billionaire tech entrepreneur and investor.

All that might have been excusable if he had actually delivered the returns, but instead of trading binary options on off-exchange forex and cryptocurrency pairs, Saffron held a large chunk of the money in his own personal crypto wallet and paid out dividends to early investors from later investors' contributions.

The CTFC is seeking full restitution to defrauded investors, disgorgement of ill-gotten gains, civil monetary penalties, permanent registration and trading bans, and a permanent injunction against future violations of the Commodity Exchange Act and Commission regulations.

Nevada Hitman Payment

While Saffron was lucky not to face any criminal penalties, another Nevadan is not so lucky. A 36 year-old Fallon woman was indicted for using Bitcoin to pay for her abusive husband's murder. After finding a website on the Dark Web which claimed to offer assassinations for a fee, she transfered more than 12 BTC (worth approximately $5,000 at the time) to the purported hitman in March 2016.

At one point, she requested a picture of a street sign with the photographer holding up a finger on the right side of the image. The "hitman" eventually sent back an image, which the defendant claimed was clearly a Photoshopped Google Street View image. The hit she had ordered never materialized, and court records show the woman cutting off communication after attempting to get her money back.

Investigators at the Department of Homeland Security became aware of the attempted murder in January 2019, when an informant provided information pertaining to the murder-for-hire website to the U.S. government. Authorities traced the email address the defendant used when signing up to the site and linked it with a number of LocalBitcoins transactions, which the scammer had coached her on how to use. She also provided the home address of the target, which, being her husband, was also her home address.

The couple divorced in 2016, three years before the government became aware of the attempted murder. The defendant faces up to 10 years in prison if convicted.

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Does Binance Work in Nevada?

Yes, Binance is available for customers in Nevada.

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.

Does Coinbase Work in Nevada?

Coinbase is available to Nevada Bitcoin investors.

Does Gemini Work in Nevada?

Nevada residents can use Gemini to buy, sell, and store their crypto.

Does Coinmama Work in Nevada?

Yes, Coinmama is available in Nevada.

Does Kraken Work in Nevada?

Kraken's full suite of services is available in Nevada.

Where Can I Find a Bitcoin ATM in Nevada?

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

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

How Much are Fees at Bitcoin ATMs in Nevada?

There is a price for the convenience of buying or selling Bitcoin with cash at an ATM, and that price can vary from 5-20%. As you can see at the above Bitcoin ATM - located outside Reno - this can push the actual cost of a Bitcoin quite a bit above the spot price. Whether or not it's worth the convenience is up to you to decide.

Where Can I Buy Bitcoin for Cash in Nevada?

In addition to any Bitcoin ATM in Nevada, you can also use peer-to-peer marketplaces to organize face-to-face trades with sellers looking to exchange their Bitcoin for cash. LocalBitcoins is the most established P2P exchange, though there are other such as Paxful and LocalCryptos, the latter of which uses smart contracts for escrow. This can only work for gift card or bank transfers, not in-person transactions.