Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Florida doesn’t impose statewide restrictions on specific coins or crypto-based businesses like New York or other states in the US do. This is good news for crypto investors, because you’re not limited to a short list of exchanges to choose from.
How to buy crypto in Florida
You can buy cryptocurrency in Florida in three general steps and with a basic understanding on how crypto works.
Step 1: Choose a coin.
New investors are generally advised to look into established coins like Bitcoin (BTC) or Ether (ETH).
Though with thousands of crypto coins to choose from, you might want to broaden your horizons to these popular coins:
Cryptocurrency is a speculative investment, with values that can wildly fluctuate by the second. While there’s no guarantee you’ll make a profit, you can narrow down a coin that fits your needs by researching elements that include:
Market capitalization. Our in-depth coin guides include details on how a coin ranks in market value, its availability and the max number of coins expected to be issued.
Long-term performance. Look for stability or patterns you think you can trade on. Large drops may indicate waning demand.
Reputation. Learn about who backs the coin, and read about the issues they plan to resolve in white papers, peer-reviewed studies and the news.
Investment strategies are something to consider as well. Trading, holding for as long as possible or flipping coins are common tactics. Dollar cost averaging is a popular investment strategy as well, which involves adding a fixed amount to a specific stock or your portfolio at regular intervals, regardless of the value of that asset, market movements or share prices. By using this strategy, your investment isn’t as impacted by volatility – and cryptocurrency is highly volatile.
But remember that nearly every transaction involving digital assets is final, and refunds generally aren’t an option.
Step 2: Compare exchanges.
Similar to coins, you have many exchanges to choose from to buy and sell crypto. Florida requires you use a US-licensed exchange — meaning one that has it’s Money Transmitter license in Florida. This license allows the holder to transmit currency and use payment utilities (wire, electronic transfer, Internet, and more).
With most exchanges, you must create an account, verify your identity with a government-issued ID, connect a digital wallet and deposit fiat or crypto currency before you can buy Bitcoin or altcoins.
Popular exchanges with millions of users among them include:
Established crypto exchange that's served customers for over a decade
Supports over 200 crypto assets
Provides resources for both beginner and advanced traders
Registered as a Money Service Business (MSB) and is FinCEN compliant
Offers futures contracts and margin for trades
Not available to residents of New York and Washington state
No longer offers its staking service to US residents
Kraken is an established cryptocurrency exchange that offers features for beginner and advanced crypto investors alike.
If you're new to crypto investing, Kraken's simple and intuitive user interface makes it easy for you to open an account and make your first crypto purchase. And Kraken's Learn center helps you better understand the complex terminology that surrounds crypto.
If you're a seasoned crypto investor, you'll benefit from using Kraken Pro — the exchange's advanced trading platform, which lets you trade over 200 crypto assets with low trading fees and a customizable trading interface. Kraken Pro also offers futures contracts as well as up to 5x leverage for trades.
Deposit Methods
Bank transfer Credit card Cryptocurrency Debit card Apple Pay Google Pay SWIFT ACH online banking
Deposit Fees
ACH deposit - Fees vary ($10 minimum deposit) Credit and debit card - Fees vary ($10 minimum deposit) Apple Pay or Google Pay - Fees vary ($10 minimum deposit) Crypto - Free
Withdrawal Fees
FedWire withdrawal - $4-$35 Crypto - Fees vary depending on coin or token
Trading Fees
Maker: 0-0.16% Taker: 0.1-0.26%
Step 3: Choose a digital wallet.
A digital wallet is software or an external tool that stores your digital assets, including cryptocurrency and NFTs. Exchanges and marketplaces vary in the wallets they support, with some requiring their own proprietary wallet.
Types of wallets you’ll encounter include:
Hot wallet. Downloadable app or browser extension that’s always on.
Cold wallet. External hardware that’s offline unless connected to a computer and turned on. They often resemble a thumb drive or storage device.
Custodial wallet. Keeps track of your wallet’s keys — or master passwords — or you.
Noncustodial wallet. Leaves you in sole control of your wallet’s keys.
Widely accepted wallets in Florida include ZenGo, Ledger, MetaMask, Trust Connect and Atomic Wallet.
Where can I buy crypto in Florida?
Because cryptocurrency isn’t heavily regulated in Florida, you can choose from a wide range of exchanges and marketplaces. If you have a specific coin in mind, make sure it’s available on the exchange and to US residents. Here are some popular exchanges to check out, in alphabetical order.
Founded in 2011, Bitstamp is the first nationally licensed Bitcoin exchange in the world. It supports 45 cryptocurrencies that include BTC, ETH and LTC. It also allows for multiple deposit methods, but with trading, deposit and withdrawal fees that depend on the method. Bitstamp accepts USD, CHF, EUR and GBP.
Fiat currencies
3
Supported assets
96
Supported states
39
Founded in 2011, Bitstamp is the first nationally licensed Bitcoin exchange in the world. It supports 45 cryptocurrencies that include BTC, ETH and LTC. It also allows for multiple deposit methods, but with trading, deposit and withdrawal fees that depend on the method. Bitstamp accepts USD, CHF, EUR and GBP.
Pros
45 coins available
Multiple deposit methods accepted
$0 crypto withdrawal fees
Cons
5% withdrawal fee with credit card
Trading fees
Deposit method
Bank transfer,Credit card,Cryptocurrency,Debit card,SEPA,Faster Payments (FPS)
Deposit Fees
Cryptocurrency: None; blockchain network fees apply Bank transfer (ACH): None; bank fees may apply Debit card transfer: 5% Credit card transfer: 5% Wire transfer: 0.05%
Withdrawal Fees
Cryptocurrency: None; blockchain network fees apply Bank transfer (ACH): None; bank fees may apply Wire transfer: 0.01%
Founded in 2011, this US-based exchange boasts more than 6 million clients in nearly 190 countries. It lists 87 cryptocurrencies that include ADA, BTC, DOGE and ETH. Potential fees include a 0.9% fee for buying stablecoins with another stablecoin or USD, a processing fee of $0.25 plus 3.75% of your transaction for card purchases and digital wallet payments and a 0.5% online banking processing fee. The Buy Crypto Widget incurs a 1.5% fee per transaction, though you might find lower fees with Kraken Pro.
Fiat currencies
6
Supported assets
261
Supported states
48
Founded in 2011, this US-based exchange boasts more than 6 million clients in nearly 190 countries. It lists 87 cryptocurrencies that include ADA, BTC, DOGE and ETH. Potential fees include a 0.9% fee for buying stablecoins with another stablecoin or USD, a processing fee of $0.25 plus 3.75% of your transaction for card purchases and digital wallet payments and a 0.5% online banking processing fee. The Buy Crypto Widget incurs a 1.5% fee per transaction, though you might find lower fees with Kraken Pro.
Pros
No recorded sitewide hack
87 cryptocurrencies available
10+ years in business
Cons
High fees with instant buy
Doesn't accept credit cards
$10 account minimum
Deposit method
Bank transfer,Credit card,Cryptocurrency,Debit card,Apple Pay,Google Pay,SWIFT,ACH online banking
Deposit Fees
ACH deposit - Fees vary ($10 minimum deposit) Credit and debit card - Fees vary ($10 minimum deposit) Apple Pay or Google Pay - Fees vary ($10 minimum deposit) Crypto - Free
Withdrawal Fees
FedWire withdrawal - $4-$35 Crypto - Fees vary depending on coin or token
Founded in 2012, Coinbase lists more than 50 coins that include BTC, ETH and DOGE. Its conversion fee ranges from 0.50% to 2.0% and is calculated based on when you place your order, your payment method and market conditions, according to Coinbase's pricing and fee disclosures. You must have at least $2 in your account to buy.
Fiat currencies
23
Supported assets
249
Supported states
43
Founded in 2012, Coinbase lists more than 50 coins that include BTC, ETH and DOGE. Its conversion fee ranges from 0.50% to 2.0% and is calculated based on when you place your order, your payment method and market conditions, according to Coinbase's pricing and fee disclosures. You must have at least $2 in your account to buy.
Pros
Reputable exchange
50+ coins available
NFT marketplace to launch soon
Cons
Transaction fees of 0.50% to 2.0%
$2 minimum balance
Deposit method
Bank transfer (ACH),Debit card,PayPal,Wire transfer,Apple Pay,Google Pay
Founded in 2014, Gemini lists more than 50 coins that include BTC, DOGE, ETH and SUSHI. Transaction fees depend on your transaction amount, starting at $0.99 for a transaction of up to $10. No deposit fees apply to crypto or wire transfers, though you'll pay 3.49% of your total purchase amount with a debit card transfer, according to Gemini. There's no account minimum.
Minimum deposits
$0
Fiat currencies
7
Supported assets
151
Supported states
50
Founded in 2014, Gemini lists more than 50 coins that include BTC, DOGE, ETH and SUSHI. Transaction fees depend on your transaction amount, starting at $0.99 for a transaction of up to $10. No deposit fees apply to crypto or wire transfers, though you'll pay 3.49% of your total purchase amount with a debit card transfer, according to Gemini. There's no account minimum.
Pros
Reputable exchange
40+ coins available
No account minimum
Owns Nifty Gateway
Cons
Fees depend on transaction amount
Deposit fees with debit cards
Deposit method
Bank transfer (ACH),Cryptocurrency,Debit card,PayPal,Apple Pay,Google Pay,SWIFT
Deposit Fees
Cryptocurrency: None Bank transfer (ACH): None, bank fees may apply Wire Transfer: Determined by your bank Debit Card: 3.49% + Trading Fees Paypal: 2.50% of total deposit amount + Trading Fees
Withdrawal Fees
Cryptocurrency: None (for 10 withdrawals and below per month) Others: None (for 10 withdrawals and below per month)
The IRS treats cryptocurrency as property that’s subject to capital gains tax each time you buy or sell it. The amount of time you’ve owned the asset, and the gains —or losses — you realized largely determines how much tax you’ll pay.
Crypto tax software is designed to keep track of crypto transactions, including the price at which a cryptocurrency was originally purchased. This helps you to calculate capital gains or losses for reporting on your tax return.
Speak to a certified tax professional who specializes in cryptocurrency with any questions or concerns around reporting.
Can I use Binance in Florida?
Yes, you can use Binance.us in Florida.
The exchange Binance is not legal in the states, but the branch Binance.us is available to Florida residents.
Know before you buy crypto
Cryptocurrency is decentralized finance, so there isn’t a government body looking out for you. While exchanges and digital wallets can do their best to keep things secure, you can proactively protect yourself with our top tips:
Secure your wallet. One of the most important things you can do to protect yourself from theft or hacking is keeping your digital wallet’s keys safe. If someone gets access, you could lose your assets without much hope for recovery.
Read the fine print. Marketplaces and exchanges often aren’t liable if bad actors get access to your digital wallet or assets. Learn about the security measures in place to prevent access to your money.
Watch out for phishing scams. No exchange will ask you to confirm the password to your wallet or keys through email or by phone. Call the company directly to ask about suspicious contacts or anything else you’re not sure about.
Reputable exchanges require ID. Signing up with a reputable exchange site typically requires you to submit such personal information as your address, SSN and email. This step is often called KYC and is required. If you skip this step, there may be legal consequences – especially if you skip it to use a nonlicensed exchange.
Cryptocurrency is volatile. Don’t invest more than you can afford to lose. Any coin’s value can change in a matter of seconds, spelling major losses or gains that depend on interest and how much you invest.
How many people own Bitcoin in Florida?
9% of respondents living in Florida currently own Bitcoin, according to an online Google survey of 1,418 people conducted across December 13-January 10, 2022. However, an additional 7% said they don’t own Bitcoin yet but plan to buy some in 2022, meaning Bitcoin adoption in Florida could hit 16% by the end of the year.
Men in Florida are more likely to own Bitcoin than women. 12% of men own Bitcoin compared to 6% of women. Men that don’t own Bitcoin are also more likely to have plans to buy some this year than women – 8% compared to 6%. If they follow through with their plans that means the gap could be 3 percentage points by the end of the year.
Currently, those aged 35-44 and 45-54 are the most likely to have Bitcoin in Florida, followed by 18-24 years of age, 25-34 years of age, 54-64 years of age and over 65. Those aged 25-34 who don’t yet own Bitcoin are most likely to buy some this year while those 55-64 and 65+ are the least likely to have plans to buy Bitcoin.
Our data is based on a Google survey of 1,418 people conducted online from December 13, 2022, to January 10, 2022. Respondents identified that they live in Florida. We asked respondents if they currently own Bitcoin and, if not, whether they plan to buy Bitcoin in 2022.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
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Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
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