Washington State

A list of ways to purchase bitcoin in Washington.


Exchange Support


Exchange Name Support for Washington
Binance.us Yes
Coinbase Yes
Kraken No
Kucoin No
Gemini Yes
Uphold Yes
Luno No
Crypto.com 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
RobinhoodRobinhood 0.55% 0.0% 0.55%
RiverRiver 0.3% 1.0% 1.3%
UpholdUphold 1.5% 0.0% 1.5%
GeminiGemini 0.5% 2.99% 3.49%
CoinbaseCoinbase 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
RobinhoodRobinhood 0.55
RiverRiver 1.3
UpholdUphold 1.5
GeminiGemini 3.49
CoinbaseCoinbase 3.99


History of Bitcoin in Washington

Washington state has played a significant role in Bitcoin's development, particularly due to its abundant hydroelectric power and tech-friendly environment. The state was an early adopter of cryptocurrency regulation, with the Department of Financial Institutions (DFI) providing guidance on virtual currency as early as 2014. Washington requires cryptocurrency exchanges to obtain money transmitter licenses and comply with strict consumer protection measures.

The state's tech hub in Seattle has fostered numerous blockchain startups and cryptocurrency initiatives. Washington's low-cost hydroelectric power has also attracted significant Bitcoin mining operations, particularly in areas like Central Washington, though some counties have imposed restrictions due to power consumption concerns.



Financial & Regulatory Licenses

Exchange Licenses & Regulation
RobinhoodRobinhood FinCEN as a money services business. U.S. SEC as a broker-dealer.
CoinbaseCoinbase Chartered by New York State Department of Financial Services for virtual currency.
RiverRiver Registered MSB with FinCEN.
Coinbase AdvancedCoinbase Advanced Chartered by New York State Department of Financial Services for virtual currency.
UnchainedUnchained NMLS ID 1900773. Loans originated through Lead Bank (FDIC member).
GeminiGemini New York State Department of Financial Services (NYDFS).
UpholdUphold FinCEN (USA), FCA (UK), FINTRAC (Canada), FCIS (EU)
ATM RadarATM Radar This is a map only. Please check with individual ATM operators for their regulatory status and licenses.


Deposit Fees

These are fees exchanges may charge for deposits. Fees are subject to change.

Exchange Deposit Fees
Coinbase AdvancedCoinbase Advanced ACH: Free
Wire: $10 USD
SEPA: €0.15 EUR
SWIFT: Free
CoinbaseCoinbase ACH: Free
Wire: $10 USD
SEPA: €0.15 EUR
SWIFT: Free
GeminiGemini ACH: $0
Wire: $0
SEPA: $0
SWIFT: $0
RiverRiver ACH: $0
Wire: $0
RobinhoodRobinhood ACH: $0
SWIFT: $0
UpholdUphold ACH: Free
Wire: $0 - $20
SEPA: Free
FPS: Free



Bitcoin Scams in Washington

Washington state has been proactive in addressing cryptocurrency fraud. The DFI has investigated numerous crypto-related scams, with reported losses totaling millions of dollars. In 2021, a notable case involved a Seattle-based crypto investment platform that allegedly defrauded investors of over $6 million through a sophisticated trading scheme.

The Washington State Department of Financial Institutions actively monitors crypto activities and has issued multiple warnings about unauthorized platforms and investment schemes. Washington residents are advised to verify that any crypto investment opportunity is properly registered with the DFI and to be particularly cautious of mining investment programs and high-yield trading schemes.



Mobile App Support

Exchange iOS App Android App
RobinhoodRobinhood
CoinbaseCoinbase
RiverRiver
Coinbase AdvancedCoinbase Advanced
UnchainedUnchained
GeminiGemini
UpholdUphold


Earn Interest & Rewards

The following table shows interest rates offered by exchanges.

Exchange Interest Rate & Details
CoinbaseCoinbase 4.70%
Earn 4.70% APY rewards by holding USDC on Coinbase. USDC is fully backed 1:1 by US dollars. Minimum $1.
RiverRiver 3.8%
Earn 3.8% interest on FDIC-insured cash, paid out in Bitcoin. No fees or minimums. Withdraws allowed anytime.
Coinbase AdvancedCoinbase Advanced 4.70%
Earn 4.70% APY rewards by holding USDC on Coinbase. USDC is fully backed 1:1 by US dollars. Minimum $1.
UpholdUphold 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

Visit Exchange
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

Visit Exchange
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

Visit Exchange
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

Visit Exchange
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

Visit Exchange
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

Gemini

Visit Exchange
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

Visit Exchange
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

ATM Radar

Visit Exchange
ATM Radar snapshot
Minimum Deposit Each ATM will have a different minimum deposit amount.
iOS app score 4.5
Official rating from the iOS App Store as of November 18, 2024.
Android app score 4.5
Official rating from the Android Play Store as of November 18, 2024.
Deposit Methods Cash