Is Bitcoin Legal in Phoenix?
Before searching for a place to purchase bitcoin in Arizona, it’s important to make sure that the asset doesn’t have specific state-level regulations that could limit interaction with cryptocurrency. At the moment, bitcoin is not subject to restrictive legislation in Arizona, meaning Arizonians are free to purchase, store, and transfer bitcoin.
In addition, the current state's money transmitter laws do not refer to bitcoin or any other cryptocurrency. Thus, crypto platforms are presently not obliged to have money transmitter licenses to provide services to customers in Arizona.
However, it doesn’t mean that the state hasn’t made any moves towards crypto recognition or adoption. In 2018, State Bill SB 1091 proposed to allow Arizona residents to settle income tax debts in bitcoin. In January 2022, state lawmakers introduced a bill to recognize bitcoin as a legal tender, but experts claim that such a “Phoenix bitcoin law” is unlikely to go into effect because of federal regulations.
One way or another, the state legislature helped local businesses to run their own bitcoin initiatives. For example, some Phoenix-based companies allow employees to receive a salary in bitcoin, while a few others allow them to invest in bitcoin to accumulate retirement funds.
Where Can I Buy Bitcoin in Phoenix?
Crypto exchange can be one of the easiest ways to purchase bitcoin in Phoenix since you can do it online anytime anywhere. There are a number of global crypto exchanges available in Arizona, including CEX.IO. With CEX.IO, you can buy bitcoin with a credit card instantly and get access to numerous crypto services in one place.
Another option is to find a bitcoin ATM in Phoenix and buy bitcoin locally. According to Bitcoin ATM maps, there are over 700 locations in Arizona where you can purchase bitcoin using an ATM. However, if you decide to use a bitcoin ATM, you also need a crypto wallet where you can store bitcoin after purchase.
Why Use CEX.IO to Purchase Bitcoin?
CEX.IO is a regulated and secure crypto exchange founded in 2013. CEX.IO is known as one of the first crypto platforms to introduce crypto purchases via debit and credit cards, and features a wide range of supported payment methods. In addition to card transactions, U.S. customers can take advantage of ACH, domestic wire transfers, SWIFT transfers, online wallets (Skrill, Epay), and fund their accounts using PayPal. You can find more details about supported payment options on our Limits and Commissions page.
Apart from Bitcoin, CEX.IO users can buy Ethereum, Litecoin, Bitcoin Cash, and dozens of other cryptocurrencies, monitoring cryptocurrency prices and trading on multiple crypto-to-crypto and crypto-to-fiat markets. In addition, CEX.IO users can earn staking rewards just by holding cryptocurrencies in their accounts.
How to Buy Bitcoin in Phoenix with CEX.IO?
CEX.IO offers several options to purchase bitcoin and other cryptocurrencies, empowering users to find a way that suits them best. Each service has its own features and provides a different crypto experience, so let’s discover them.
CEX.IO users found the Instant Buy service one of the most convenient and fastest ways for crypto purchases. It empowers users to buy crypto with a credit & debit card, in a single transaction. After transaction confirmation, purchased crypto will appear in your CEX.IO balance in a matter of minutes.
To buy bitcoin via the Instant Buy service, select bitcoin in the dropdown list of supported cryptocurrencies, enter preferred fiat currency for purchase, and the amount of crypto you want to purchase. Then add a new payment card, or use a verified card for transaction. You can find more details on how to purchase crypto via the Instant Buy service in this guide.
On the Trade page, you can buy and sell bitcoin by placing a market and limit order. With a market order, you can buy an asset instantly, at the best available price in the order book. On the other hand, a limit order allows you to set the asset price for trade but the order will execute only when the market price reaches a specified level, or an opposite order occurs in the order book.
To buy bitcoin using this option, you first need to choose the currency pair. For example, BTC to USD. After selecting the market, choose what order to use for crypto purchase, enter the amount, and confirm the trade. Check this guide to find out more about crypto purchases using the Trade page.
The Exchange option allows you to swap between cryptocurrencies and fiat currencies even when there is no direct currency pair available for trading. This service is exclusive to the CEX.IO mobile app.
How to Check Bitcoin Prices on CEX.IO?
You can monitor current bitcoin prices on the Prices page, or by selecting one of the bitcoin markets on the Trade page. In addition, you can set up price notifications in the CEX.IO mobile app to be informed when bitcoin reaches a predetermined level.
How to Deposit Bitcoin on CEX.IO?
Visit our Finance page and click “Deposit” next to the bitcoin to find your wallet address on CEX.IO. After that, enter the address in your external wallet for transfer. If you use the CEX.IO mobile app, go to the Wallet menu, and tap “Deposit” to find your wallet address.
How to Withdraw Bitcoin on CEX.IO?
When withdrawing bitcoin, you can use the Finance page on the CEX.IO website, or the Wallet menu in the CEX.IO mobile app. Select “Withdraw” next to bitcoin, enter the amount you want to withdraw, and provide your destination wallet address for transfer.