Is Bitcoin Legal in California?
Before buying Bitcoin in California, it’s important to clarify how cryptocurrencies are regulated at the federal and state-level, since this can affect how you can buy cryptocurrency and what services and exchanges you can use. While federal regulators are working on a national-level framework for cryptocurrencies, California has come forward with its own crypto laws.
In 2014, then California Governor Jerry Brown signed AB 129 into law, legalizing “various forms of alternative currency such as digital currency” to be used for the purchase of goods and transacting payments. This revised Section 107 of California’s Corporations Code which prohibited the use of “anything but the lawful money of the United States” to be traded or redeemed for goods and services.
Last week, current California Governor Gavin Newsom issued an executive order echoing the Biden Administration’s stance back in March that outlined a federal roadmap toward incorporating and regulating cryptocurrencies and Blockchain technology for state use. The order is designed to “create a transparent and consistent business environment for companies operating in blockchain, including crypto assets and related financial technologies, that harmonizes federal and California laws.”
Despite bipartisan efforts to allow California to accept cryptocurrencies in exchange for state services, this has so far been unsuccessful. However, Governor Newsom’s latest actions suggest that California Bitcoin law is an area of ongoing interest to the current administration.
Where Can I Buy Bitcoin in California?
While some states require a valid Money Transmitter License (MTLs) to operate within their borders, California is among the US states that does not have such a rule on the books. As such, CEX.IO’s full marketplace of services is available to Californians at every stage of their crypto journey. Users can buy Bitcoin or dozens of other coins or tokens currently available on the market, with the ease and accessibility that helps CEX.IO stand out among the pack.
In addition to using a regulated Bitcoin exchange, users can buy Bitcoin locally at 1000s of locations and Bitcoin ATMs that stretch across the state of California. However, if you decide on this option, you’ll need a wallet to store your purchased cryptocurrency.
Why Choose CEX.IO for your Crypto Purchases?
CEX.IO was among the first exchanges to break down the barrier of entry for both seasoned and casual traders alike. From being the first to allow users to buy cryptocurrency with a credit or debit card, to developing our mobile app, it’s easier than ever to start trading on the go with CEX.IO’s fast and secure marketplace. In addition to prompt acquisition and settlement, here are a few other reasons to purchase crypto with CEX.IO:
- Recognizable and reliable platform — CEX.IO is a global and regulated crypto exchange founded in 2013 and provides its services to 5 million users worldwide.
- Top-tier security — CEX.IO features multiple second-layer security measures, empowering users by increasing the security of their funds. Also, with our CEX.IO custodial wallet, we help you hang on to your keys and passwords.
- Multiple fiat payment options — in addition to allowing credit and debit cards, CEX.IO users can take advantage of domestic wire transfers, ACH, international bank transfers (SWIFT), PayPal, and online wallets (Skrill, Epay). For more information about supported payment methods, visit our Limits and Commissions page.
- The ecosystem of crypto services — with CEX.IO, you can buy and sell dozens of cryptocurrencies. You can buy Ethereum, sell Bitcoin, store them in your account to benefit from cryptocurrency prices over time, or trade assets to take advantage of price fluctuations. In addition, you can earn passive cryptocurrency income using CEX.IO’s staking services.
How to Buy Cryptocurrency with CEX.IO
With CEX.IO, you can purchase cryptocurrencies in multiple ways. Each CEX.IO service has its own features allowing users to find the right experience that fits their needs.
- Buy/Sell service — use your debit or credit card to buy cryptocurrencies.
- Spot trading — place market and limit orders to buy and sell cryptocurrencies on crypto-to-crypto and crypto-to-fiat markets.
- Exchange service in the CEX.IO mobile app — swap between fiat currencies and crypto even when there is no direct currency pair available for trading.
How to Buy Ethereum in California Using a Bank Card
If you want to buy Ethereum with a credit or debit card, CEX.IO’s Buy/Sell feature is one of the easiest and most convenient ways to purchase crypto. U.S. customers can use the Buy/Sell service to buy major cryptocurrencies as well as popular altcoins.
Here is a short guide on how you can buy Ethereum using CEX.IO’s Buy/Sell service:
- Select ETH in the dropdown list of cryptocurrencies.
- Choose a preferred fiat currency for the transaction
- Set the amount you want to buy or pick one of the pre-calculated packs.
- Add a new debit or credit card, or use a verified card for the transaction.
- Double-check the transaction details and confirm the transaction.
- The purchased cryptocurrency will appear in your CEX.IO balance in a matter of minutes.
How can I check crypto prices on CEX.IO?
Visit our Prices page to see the current exchange rates for all available crypto assets on CEX.IO and their prior 24-hour performance. If you want to find a price chart, visit the Trade page. There you can find detailed information about current market conditions on multiple crypto-to-crypto, and crypto-to-fiat markets, including BTC to USD.
You can also set up price notifications in the CEX.IO mobile app to be notified when a certain asset reaches a specified level.
How to deposit cryptocurrencies on CEX.IO?
Visit our Finance page and click Deposit next to the cryptocurrency you want to transfer. You will see your wallet address on CEX.IO that you can enter in the external wallet to deposit. Alternatively, you can find your wallet address by clicking the Deposit button in the top right-hand corner of most CEX.IO website pages.
If you use the CEX.IO mobile app, go to the Wallet menu and tap Deposit to see your wallet address. Check out our Help Center to find more information about crypto deposits.
How to withdraw crypto on CEX.IO?
If you want to withdraw cryptocurrency, you can use the Finance page, or click the Withdraw button in the top right corner of most CEX.IO website pages. Enter the amount you want to withdraw and your destination wallet address. If you use the CEX.IO mobile app, check out this guide on crypto withdrawals.