How to Buy Bitcoin or Other Cryptocurrency in Washington State

Is Bitcoin Legal in Washington state?

Before buying bitcoins in Washington state, it’s important to clarify how cryptocurrencies are regulated at the federal, and state-level since regulations can affect how you can buy a cryptocurrency, and what services and exchanges you can use. While federal regulators are working on a national-level framework for cryptocurrencies, Washington state has come forward with its own crypto laws.

In 2017, Washington passed State Bill 5031, which defined cryptocurrency exchanges as money transmitter businesses, requiring them to obtain corresponding licenses. In addition, exchanges must undergo certain audits to become eligible for providing services to customers in Washington. As a result, these obligations caused the exit of many cryptocurrency exchanges and services from the local market. However, those who obtained a money transmitter license are considered regulated entities that may provide crypto services in the state.

Washington state passed a few other bills in the following years which could be aimed at improving the State Bill 5031. These actions did not lead to Washington state Bitcoin law like in El Salvador with recognizing bitcoin as a legal tender. However, they provided more clarity on the blockchain-related topics.

Where Can I Buy Bitcoin in Washington state?

Taking into account the demanding money transmitter license requirements, crypto exchanges with corresponding licenses could be one of the most secure, and reliable places to purchase bitcoin, and other cryptocurrencies. For example, CEX.IO has a money transmitter license in Washington and many other U.S. states, empowering U.S. customers to buy Ethereum, and sell bitcoin via multiple options.

In addition to using a regulated bitcoin exchange, you can also buy bitcoin locally by finding a bitcoin ATM in Washington state. According to Bitcoin ATM maps, they can be found in Seattle, Tacoma, Spokane, and other major cities in Washington. However, if you decide to use this option, you also need a secure bitcoin wallet where you can store purchased bitcoins.

Why Choose CEX.IO for Crypto Purchases?

Having a money transmitter license is not the only reason why users choose our platform. CEX.IO is known as one of the first cryptocurrency exchanges in the industry that featured crypto purchases via payment cards. CEX.IO users can buy bitcoin with a credit card instantly, following a few simple steps. Additionally to fast 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. CEX.IO provides its services in over 99% of countries and has over 5 million users worldwide.
• Top-tier security — the platform uses advanced techniques to secure users’ data and keep their funds safe. CEX.IO features multiple second-layer security measures, empowering users to increase the security of their funds.
• Multiple fiat payment options — CEX.IO allows users to purchase cryptocurrencies using Mastercard and Visa debit and credit cards. Additionally to card transactions, U.S. customers 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 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 staking services.

How to Buy Cryptocurrency with CEX.IO?

With CEX.IO, you are not tied to a single option and can purchase cryptocurrencies in multiple ways. Each CEX.IO service has its own features and provides a different experience, allowing users to find the way that fits their needs.

• Buy/Sell service — use your debit or credit card to buy cryptocurrencies instantly.
• 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 Washington State Using a Bank Card?

If you want to buy cryptocurrency with a credit card on CEX.IO, then use the Buy/Sell service, which many CEX.IO users found one of the easiest and most convenient ways for crypto purchases. This is because the Buy/Sell service allows users to pay with a credit card and purchase crypto in a single transaction. As a result, the whole process takes a few minutes. U.S. customers can use the Buy/Sell service to buy both major cryptocurrencies and popular altcoins.

Here is a short guide on how you can buy Ethereum using the Buy/Sell service:

1. Select ETH in the dropdown list of cryptocurrencies.
2. Choose a preferred fiat currency for the transaction. For example, the U.S. Dollar.
3. Set the amount you want to buy or pick one of the pre-calculated packs.
4. Add a new debit or credit card or use a verified card for the transaction.
5. Double-check the transaction details and confirm the transaction.
6. Purchased cryptocurrency will appear in your CEX.IO balance in a matter of minutes.