Buy Crypto & Bitcoin in New Jersey

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  • Popular Exchanges to Buy Crypto & Bitcoin in New Jersey
  • eToro exchange logo
    eToro
    • Start trading fast; high limits
    • Easy way for newcomers to get bitcoins
    • Your capital is at risk.
    BUY NOW at eToro's Secure Site
  • coinbase exchange logo
    Coinbase
    • US based crypto & Bitcoin exchange
    • Best way to buy crypto in the US
    • Instantly connect bank account and buy
    BUY NOW at Coinbase's Secure Site
  • coinbase pro logo
    Coinbase Pro
    • Some of the lowest fees available for US customers
    • High liquidity; good for buying large amounts of crypto
    • Based in the USA
    BUY NOW at Coinbase's Secure Site

CoinbaseCoinbase
Buy Now at Coinbase's Secure Site

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, Canada, and Australia.

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.

Pros
  • High liquidity and buying limits
  • Easy way for newcomers to get bitcoins
  • "Instant Buy" option available with debit card
Cons
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Ease of Use
Easy
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Privacy
Low
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Speed
Average
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Fees
Average
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Reputation
Trusted
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Limits
High
Buy Now Read Review

Coinbase ProCoinbase Pro
Buy Now at Coinbase Pro's Secure Site

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.

Pros
  • Some of the lowest fees available for US and EU customers
  • Possible to buy bitcoins for 0% fees
Cons
  • User interface is confusing for first time buyers
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Ease of Use
Hard
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Privacy
Low
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Speed
Average
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Fees
Low
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Reputation
Trusted
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Limits
High
Buy Now Read Review

Buy Now at Gemini's Secure Site

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.

Pros
  • Trustworthy and regulated exchange
  • Instant deposit lets you buy coins quickly (but not withdraw them)
  • Some of the lowest fees in the US and Canada
Cons
  • Somewhat confusing to use for new buyers
  • Not yet available in all US states
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Ease of Use
Hard
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Privacy
Low
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Speed
Slow
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Fees
Low
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Reputation
Trusted
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Limits
High
Buy Now

Buy Now at Bitcoin IRA's Secure Site

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.

Pros
  • Tax Advantaged Bitcoin Savings
  • Easy to set up account
Cons
  • Cannot custody the Bitcoin yourself
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Ease of Use
Average
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Privacy
Low
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Speed
Fast
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Fees
Low
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Reputation
Trusted
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Limits
High
Buy Now

Buy Now at Coinmama's Secure Site

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.

Pros
  • Works in almost all countries
  • Highest limits for buying bitcoins with a credit card
  • Reliable and trusted broker
Cons
  • Some of the highest fees among credit/debit card bitcoin brokers
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Ease of Use
Easy
privacy icon
Privacy
Low
speed icon
Speed
Fast
fees icon
Fees
Average
reputation icon
Reputation
Trusted
limits icon
Limits
High
Buy Now Read Review

Buy Now at Swan Bitcoin's Secure Site

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.

Pros
  • Easy to set up
  • Automated dollar cost averaging
  • Very low fees
Cons
  • First purchase takes awhile
  • No way to sell on platform
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Ease of Use
Hard
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Privacy
Low
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Speed
Fast
fees icon
Fees
Low
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Reputation
Trusted
limits icon
Limits
High
Buy Now

Buy Now at Bitcoin ATMs's Secure Site

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%.

Pros
  • Our map makes it super easy to find a Bitcoin ATM near you
Cons
  • Bitcoin ATMs often have 5-10% fees per purchase
Buy Now

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Bitcoin & Cryptocurrency Trading in New Jersey


New Jersey's laws relating to Bitcoin and cryptocurrencies are pretty much par for the course compared to other U.S. states. There is pending legislation that aims to clarify the regulation of firms transacting in cryptocurrencies, but no concrete action so far.

Still, this hasn't stopped crypto from gaining a foothold in the Garden State. New Jersey comes in at #5 on the list of U.S. states most interested in Bitcoin over the last 12 months, as ranked by Google Search Trends.

In 2018, a New Jersey political news site published a (tongue in cheek) editorial calling for the state to release its own cryptocurrency, with Springsteen on one side and Sinatra on the other side of the virtual coins.

However, it's not all fun and games. In 2019, a federal grand jury indicted a 46 year old New Jersey man who had operated a Bitcoin exchange on one count of operating an unlicensed money transmitting business.

While the state of New Jersey does not currently require firms dealing in cryptocurrency to register as money transmitters, there are federal laws that do apply. The defendant processed more than $2 million through his website Destination Bitcoin, receiving money from clients, depositing the funds into bank accounts in his name, and then sending through the Bitcoin minus a transaction fee.

The charge carries a maximum penalty of 5 years imprisonment and a $250,000 fine.

While this may have been a case of simply ignoring the laws surrounding Bitcoin and cryptocurrency, it's also true that there are significant gray areas and overlapping jurisdictions. All of this makes compliance more difficult than it needs to be.

It's with this in mind that the New Jersey legislature is now debating a bill that aims to regulate firms dealing in cryptocurrencies and clarify exactly what their legal requirements are.

New Jersey Assembly Bill 2891 - or the Digital Asset and Blockchain Technology Act - passed review by the Assembly Science, Innovation and Technology Committee and is now waiting for approval by the Appropriations Committee.

Under the new law, firms transacting in cryptocurrency would be required to disclose the legally registered names of the owners, follow anti-money laundering (AML) and anti-terrorist financing (ATF) policies, and submit legal records to the New Jersey Department of Banking and Insurance.

Representative Yvonne Lopez, who sponsored the bill, said that it would be a step forward for the cryptocurrency industry in New Jersey.

We must take steps to protect consumers looking to invest in cryptocurrency, while also allowing the sector to continue to develop and expand in New Jersey.


The innovation economy keeps New Jersey competitive, however we must also ensure consumers remain protected. This Digital Asset and Blockchain Technology Act accomplishes both of these goals and creates an infrastructure for the virtual currency industry to thrive in NJ!

Yvonne Marie Lopez New Jersey Assemblywoman

Regulatory clarity - provided it's not done in the heavy-handed manner of New York's BitLicense - should only make it easier for crypto-focused businesses to operate and innovate in New Jersey.

If you're looking to invest, trade, or transact in Bitcoin, the best way to purchase it in New Jersey 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.

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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Top Bitcoin & Cryptocurrency Exchanges in New Jersey


New Jersey has access to many large Bitcoin and cryptocurrency exchanges.

Take a look at our favorites below:

  • Popular Exchanges to Buy Crypto & Bitcoin in New Jersey
  • eToro exchange logo
    eToro
    • Start trading fast; high limits
    • Easy way for newcomers to get bitcoins
    • Your capital is at risk.
  • coinbase exchange logo
    Coinbase
    • High liquidity and buying limits
    • Easy way for newcomers to get bitcoins
    • "Instant Buy" option available with debit card
  • coinbase pro logo
    Coinbase Pro
    • Some of the lowest fees available for US and EU customers
    • Possible to buy bitcoins for 0% fees
    • Run by Coinbase

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Best Bitcoin Wallets for New Jersey



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

  • 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.

Best for Security

ledger nano x

Ledger Nano X

Secure storage for any cryptocurrency

More About
Ledger Nano X

The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.

Temporary Wallet

zengo wallet logo

Zengo

Best for storing crypto for short period of time

More About
Zengo

ZenGo is an easy-to-use iOS and Android Bitcoin & crypto wallet. Start within 20 seconds.

Best for Desktop

electrum logo

Electrum

Simple yet powerful desktop wallet

More About
Electrum

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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Ethereum How to Buy Ethereum in New Jersey


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 New Jersey that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.


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Dogecoin How to Buy Dogecoin in New Jersey


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 How to Buy Litecoin in New Jersey


Litecoin (LTC) is one of largest cryptocurrencies by market cap. Below you can find a list of brokerages in New Jersey that allow you to buy litecoin and other crypto assets for good exchange rates.


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Hacks and Crypto Scams in New Jersey


As with any new and often-misunderstood technology, unscrupulous individuals have taken advantage of others' naivety when it comes to Bitcoin and cryptocurrency.

BitClub

In late 2019, four men were arrested and charged by the U.S. Attorney’s Office in the District of New Jersey in connection with a cryptocurrency mining scheme that defrauded investors of $722 million.

From April 2014 through December 2019, BitClub Network solicited money from investors in exchange for shares of a purported Bitcoin mining pool. Investors would be paid out dividends from the profit the mining operation made.

Anyone with at least a cursory knowledge of the Howey Test and the SEC's definition of a security should recognize this business model as most likely constituting the sale of unregistered securities. While this is not illegal in much of the world, in the U.S. it is stricly enforced. One of the defendants allegedly advised U.S. based investors to use a VPN in order to evade authorities.

Worse than selling unregistered securities as U.S. citizens is operating a completely fraudulent business. The profits paid to the "shareholders" of BitClub Network did not come from mining revenue but rather according to the classic Ponzi model of paying out early investors with the contributions of later depositors. The scheme had all the hallmarks: promising outsized returns (up to 12% daily) and offering rewards for signing up new investors.


bitclub network homepage

According to the indictment, the conspirators specified that their target audience would be “dumb” investors, referred to them as “sheep,” and said they were “building this whole model on the backs of idiots.”

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 of the charges they now face carries up to five years in federal prison, while the wire fraud charge could land the men behind bars for up to 20 years.

Lab Rat Data Processing

Lab Rat Data Processing was a New Jersey-based Bitcoin mining operation that went into business back in 2013. Zachary Dailey posted on the legendary BitcoinTalk forums advertising the company's IPO. Investors could purchase bonds which represented a claim to the mining operation's hashpower and its profits.

Lab Rat Data Processing, LLC

LabRatMining

Official Announcement


Lab Rat Data Processing, LLC, a NJ company, operating under the trade name LabRatMining is a company that will be operating as a mid to large scale miner for Bitcoins paying out dividends/returns to bondholders. Each bond in the company represents a portion of the overall hashrate owned and managed by LabRatMining. LabRatMining plans to expand mining operations to maintain a presence in the mining community for years to come.


Bond Structure – It is intended 100,000 bonds will be sold during the IPO. These bonds represent the hashrate that these machines produce rather than the hardware itself. This allows for control of the company without taking mining profits from investors and bondholders. Future bond offerings of the company will be funded by intended additional sales in increments of 50,000 bonds.


Dividends/Bond Value – Each bond will receive a minimum of 100MH/s* worth of mining profit in dividends/returns (all dividends are intended as contractual returns based on investments and may simply be referred to as dividends for future purposes) on a weekly basis. The first payout will be at the end of the second full week mining. If the entire 100,000 bond IPO is not sold immediately, bonds will represent an equivalent portion of the processing power included in the operation at that time. If it occurs that multiple installments of hardware are required to fulfill the IPO’s expected hardware, the earnings of each installment will begin to be paid out in dividends on the second full week of each installment. Dividends will be paid out on Saturdays ~12 noon Eastern Time(UTC -0500.)

Lab_Rat, BitcoinTalk.org, via Archive.org

Yet roughly a year after the IPO, 12 investors banded together to sue Lab Rat and Zachary Dailey for misrepresentation, breach of contract, and fraud. The claim alleged that Lab Rat had tried to “coerce the Plaintiffs to relinquish their contractual and other legal rights” by giving them new contracts with reworded conditions.

So what went wrong?

The case has been stuck in the courts for over six years, but it seems that a number of factors led to Lab Rat Mining becoming unprofitable and unable to fulfil its obligations to bondholders.

Hey all,


Due to many circumstances that have occurred since Aug-Sept of last year, LRM is no longer able to operate. Many factors contributed to this unfortunate event including lawsuit expenses, declining BTC price, and inability to host the hardware profitably anymore. Mining has ceased and the company has had to declare bankruptcy as of this time. This should not have been a total shock as almost all other mining contract based operations throughout the market have also ceased by this point, nevertheless it is highly unfortunate to have to bring this news.


Best of luck to all the bitcoiners out there,

Lab_Rat

Lab_Rat, BitcoinTalk.org, via Archive.org

Lab Rat Data Processing, LLC filed for bankruptcy in the New Jersey Bankruptcy Court in May 2015.

The result was over 2,000 BTC being witheld from investors who had purchased the legal right to profits from the mining operation. These Bitcoins were worth roughly $2 million at the time and their value has now ballooned to $70 million, giving the claimants a strong incentive to pursue their legal action.

Spotting a Scam

The Better Business Bureau has compiled a list of common Bitcoin and cryptocurrency hacks and scams. It's worth reading over and checking any investment you're considering against it.

High-Yield Investment Scams: These scams attract consumers with promises of high interest rates on investments. They operate like pyramid schemes, which generate returns for older investors through revenue paid by new investors, as opposed to legitimate business activity and investments. Consumers will see small daily returns in their accounts, but eventually the returns stop and the scammers run off with all the investment funds.

Bitcoin Wallet Scams: All users of Bitcoin require a wallet to store, send, and receive their currency. Sadly, scammers have discovered ways to create fake wallets and defraud consumers. These fake wallets are downloaded by consumers and operate for a few days. Once the deposit level reaches a certain limit, the funds are removed by the scammers and consumers are left empty-handed.

Bitcoin Phishing Scams: These scams usually involve consumers receiving emails to inform them they have won or been gifted Bitcoins. In order to collect their e-currency, they must click on a link leading to a wallet, where their username and password is required. To the victim's surprise, the provided link is to a fake wallet site and scammers have now gained access to the victim's wallet and the Bitcoin held therein.

Bitcoin Donation Scams: These are instances where scammers have created fake donation pages, asking consumers to donate in Bitcoin. Even when donating, it is necessary to research the cause, the charity, and the person behind it thoroughly before arranging the transfer of any e-currency.

E-Currency Exchange Scams: E-Currency exchange scams are often linked to employment or advance fee loan scams. Consumers are sent funds via e-transfer, credit card, or check, and are asked to exchange the funds for Bitcoin. They are then instructed to deposit the funds in another Bitcoin account to pay for interest charges or office supplies (depending on the nature of the scam). Eventually, the initial payment is found to be fraudulent and the consumer is held accountable to pay for the initial funds that were transferred.

Better Business Bureau Get a Handle on Virtual Currencies


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FAQ


Does Binance Work in New Jersey?

Binance homepage

Yes, Binance is available for customers in New Jersey.

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 New Jersey?

coinbase homepage

Yes, Coinbase is available to New Jersey Bitcoin investors. You can buy, sell, and trade all available cryptocurrencies on the platform.

Does Gemini Work in New Jersey?

coinmama homepage

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

Does Coinmama Work in New Jersey?

coinmama homepage

Yes, Coinmama is available in New Jersey.

Does Kraken Work in New Jersey?

kraken homepage

Kraken's full suite of services is available in New Jersey.

Where Can I Find a Bitcoin ATM in New Jersey?

The best way to find a Bitcoin ATM in New Jersey 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.

About the Author: Jordan Tuwiner

author

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.