Hawaii
A list of ways to purchase bitcoin in Hawaii.
Robinhood
Robinhood works in Hawaii as of August 2024. Customers can purchase Bitcoin using ACH, bank account, and debit card. Offers U.S. Bitcoin ETFs like IBIT and FBTC.
Coinbase
Coinbase works in Hawaii as of August 2024. Customers can purchase Bitcoin using ACH, bank account, debit card, PayPal, Apple Pay, Google Pay, and wire transfer.
River
Popular Bitcoin-only exchange and supports Hawaii. Buy bitcoin instantly, or setup auto dollar cost averaging.
Coinbase Advanced
Coinbase's Advanced Exchange. Best for lower fees than Coinbase Simple and for more advanced order types.
Unchained
Unchained's trading desk is available in Hawaii. Good for people looking to buy large amounts. 1% fees.
Kraken
Popular and well-known exchange based in the USA.
Gemini
Gemini is one of the few exchanges licensed to operate in Hawaii. Supports multiple payment methods including ACH transfers and PayPal.
Uphold
Uphold is one of the few exchanges available to Hawaii residents, offering various payment methods including ACH and wire transfers.
Table of Contents
Exchange Support
Exchange Name | Support for Hawaii |
---|---|
Binance.us | No |
Coinbase | Yes |
Kraken | Yes |
Kucoin | No |
CEX.io | No |
Gemini | Yes |
Uphold | Yes |
eToro | No |
Luno | No |
Crypto.com | Yes |
Unchained | Yes |
River | Yes |
Frequently Asked Questions
If I Bought Bitcoin
See how much you would have made if you bought Bitcoin in the past.
Transaction Fees
A look at the transaction fees for each exchange, both spread and commission.
- Spread fee: Exchanges may charge a higher price than the actual price of Bitcoin.
- Fee: Exchange fee for the transaction.
- Total fees: The sum of the spread fee and the fee.
Exchange | Spread Fee | Fee | Total Fees |
---|---|---|---|
Kraken | 0.0% | 0.4% | 0.4% |
Robinhood | 0.55% | 0.0% | 0.55% |
River | 0.3% | 1.0% | 1.3% |
Uphold | 1.5% | 0.0% | 1.5% |
Gemini | 0.5% | 2.99% | 3.49% |
Coinbase | 1.0% | 2.99% | 3.99% |
Actual fees may vary. Fees are subject to change. Fee estimates based on our research and testing. Some exchanges may charge less depending on volume.
Estimated Fees on $100
An estimate of the fees for buying $100 worth of Bitcoin using a bank account.
Exchange | Total Cost on $100 |
---|---|
Kraken | 0.4 |
Robinhood | 0.55 |
River | 1.3 |
Uphold | 1.5 |
Gemini | 3.49 |
Coinbase | 3.99 |
History of Bitcoin in Hawaii
Hawaii has had a unique relationship with Bitcoin adoption due to its strict regulatory environment. In 2016, the state's Division of Financial Institutions implemented double reserve requirements for Bitcoin businesses, requiring them to hold both the value of Bitcoin and an equivalent amount in fiat currency, which led many Bitcoin exchanges to cease operations in Hawaii.
However, in 2020, Hawaii launched a regulatory sandbox program called the Digital Currency Innovation Lab, allowing select Bitcoin companies to operate in the state without a money transmitter license. This initiative has helped increase Bitcoin accessibility for Hawaii residents while maintaining consumer protections.
Financial & Regulatory Licenses
Exchange | Licenses & Regulation |
---|---|
Robinhood | FinCEN as a money services business. U.S. SEC as a broker-dealer. |
Coinbase | Chartered by New York State Department of Financial Services for virtual currency. |
River | Registered MSB with FinCEN. |
Coinbase Advanced | Chartered by New York State Department of Financial Services for virtual currency. |
Unchained | NMLS ID 1900773. Loans originated through Lead Bank (FDIC member). |
Kraken | Registered money services business with FinCEN (USA). |
Gemini | New York State Department of Financial Services (NYDFS). |
Uphold | FinCEN (USA), FCA (UK), FINTRAC (Canada), FCIS (EU) |
Deposit Fees
These are fees exchanges may charge for deposits. Fees are subject to change.
Exchange | Deposit Fees |
---|---|
Coinbase Advanced |
ACH: Free Wire: $10 USD SEPA: €0.15 EUR SWIFT: Free |
Coinbase |
ACH: Free Wire: $10 USD SEPA: €0.15 EUR SWIFT: Free |
Gemini |
ACH: $0 Wire: $0 SEPA: $0 SWIFT: $0 |
Kraken |
ACH: $0 Wire: $0 SEPA: $0 SWIFT: $3 |
River |
ACH: $0 Wire: $0 |
Robinhood |
ACH: $0 SWIFT: $0 |
Uphold |
ACH: Free Wire: $0 - $20 SEPA: Free FPS: Free |
Bitcoin Scams in Hawaii
Hawaii's isolated geography has not protected it from Bitcoin-related fraud. In 2019, the Cloud Stake mining operation, based in Honolulu, defrauded local investors of over $1.2 million by promising guaranteed returns through Bitcoin mining operations that didn't exist. The company's founder, David Puu, was later charged with wire fraud and money laundering.
The Hawaii Division of Financial Institutions regularly issues consumer advisories about Bitcoin scams, particularly those targeting the state's senior population. Hawaii residents are urged to be vigilant about Bitcoin investment opportunities and to work only with companies approved under the state's Digital Currency Innovation Lab program.
Mobile App Support
Exchange | iOS App | Android App |
---|---|---|
Robinhood | ||
Coinbase | ||
River | ||
Coinbase Advanced | ||
Unchained | ||
Kraken | ||
Gemini | ||
Uphold |
Earn Interest & Rewards
The following table shows interest rates offered by exchanges.
Exchange | Interest Rate & Details |
---|---|
Coinbase |
4.70%
Earn 4.70% APY rewards by holding USDC on Coinbase. USDC is fully backed 1:1 by US dollars. Minimum $1.
|
River |
3.8%
Earn 3.8% interest on FDIC-insured cash, paid out in Bitcoin. No fees or minimums. Withdraws allowed anytime.
|
Coinbase Advanced |
4.70%
Earn 4.70% APY rewards by holding USDC on Coinbase. USDC is fully backed 1:1 by US dollars. Minimum $1.
|
Kraken |
0.15% - 6.5%
Available for BTC (0.15% bonded/0.1% flexible), USDT/USD/USDC (6.5% bonded/4.5% flexible), and EUR (4.45% bonded/3.5% flexible).
|
Uphold |
2 - 4.65%
Earn up to 4.65% APY on USD balances of $1,000 or more, or 2% APY on balances below $1,000 in Uphold's USD Interest Account.
|
Exchange snapshots
Robinhood
Robinhood snapshot | |
Minimum Deposit | $1 |
iOS app score |
4.2
Official rating from the iOS App Store as of November 18, 2024.
|
Android app score |
4.2
Official rating from the Android Play Store as of November 18, 2024.
|
Deposit Methods | ACH, Debit Card, Bank Account, Wire Transfer |
Review | Read our review |
Coinbase
Coinbase snapshot | |
Minimum Deposit | $1 |
iOS app score |
4.7
Official rating from the iOS App Store as of November 18, 2024.
|
Android app score |
4.6
Official rating from the Android Play Store as of November 18, 2024.
|
Deposit Methods | ACH, Wire Transfer, Debit Card, Bank Account, PayPal, Apple Pay, iDEAL, SEPA, Interac e-Transfer, Instant Verification, Google Pay |
Review | Read our review |
River
River snapshot | |
Minimum Deposit | $1 |
iOS app score |
4.8
Official rating from the iOS App Store as of November 18, 2024.
|
Android app score |
4.9
Official rating from the Android Play Store as of November 18, 2024.
|
Deposit Methods | ACH, Bank Account, Wire Transfer |
Review | Read our review |
Coinbase Advanced
Coinbase Advanced snapshot | |
Minimum Deposit | $1 |
iOS app score |
4.7
Official rating from the iOS App Store as of November 18, 2024.
|
Android app score |
4.6
Official rating from the Android Play Store as of November 18, 2024.
|
Deposit Methods | Same as Coinbase |
Unchained
Unchained snapshot | |
Minimum Deposit | $2,000 |
iOS app score |
4.8
Official rating from the iOS App Store as of November 18, 2024.
|
Deposit Methods | ACH, Wire Transfer, Bank Account |
Review | Read our review |
Kraken
Kraken snapshot | |
Minimum Deposit | $1 |
iOS app score |
4.7
Official rating from the iOS App Store as of November 18, 2024.
|
Android app score |
4.3
Official rating from the Android Play Store as of November 18, 2024.
|
Deposit Methods | ACH, Bank Account, Apple Pay, Google Pay, SEPA, Interac e-Transfer, Debit Card, PayPal, Instant Verification |
Gemini
Gemini snapshot | |
Minimum Deposit | $1 |
iOS app score |
4.8
Official rating from the iOS App Store as of November 18, 2024.
|
Android app score |
4.2
Official rating from the Android Play Store as of November 18, 2024.
|
Deposit Methods | ACH, Bank Account, PayPal, Apple Pay, Debit Card, Google Pay |
Uphold
Uphold snapshot | |
Minimum Deposit | $1 |
iOS app score |
4.6
Official rating from the iOS App Store as of November 18, 2024.
|
Android app score |
4.7
Official rating from the Android Play Store as of November 18, 2024.
|
Deposit Methods | ACH, Bank Account, Apple Pay, Google Pay, Credit Card, Debit Card, SEPA, Interac e-Transfer |