Pennsylvania
A list of ways to purchase bitcoin in Pennsylvania.
River
Available to Pennsylvania residents. PA residents can buy Bitcoin using ACH or wire transfer. Also ability to earn interest on cash balances, paid in BTC.
Kraken
Kraken is available in Pennsylvania. PA residents can buy Bitcoin using ACH transfers, wire transfers, and Apple Pay.
River Private Client
Serves Pennsylvania residents for Bitcoin investments of $100k+. Includes tax optimization and performance tracking.
Coinbase
Coinbase is fully licensed and available in Pennsylvania. PA residents can buy Bitcoin using ACH transfers, bank accounts, debit cards, PayPal, Apple Pay and wire transfers. Regulated by FinCEN and compliant with Pennsylvania Money Transmitter laws.
Coinbase Advanced
Coinbase's Advanced Exchange. Best for lower fees than Coinbase Simple and for more advanced order types.
Swan Bitcoin
Swan is a US-based Bitcoin-only exchange focused on making Bitcoin investing safe & simple.
Bitcoin ATMs
Find Bitcoin ATMs across Pennsylvania. Our map shows ATM locations in Philadelphia, Pittsburgh and other cities.
Table of Contents
Exchange Support
| Exchange Name | Support for Pennsylvania |
|---|---|
| Binance.us | Yes |
| Coinbase | Yes |
| Kraken | Yes |
| Kucoin | No |
| Fold | Yes |
| Gemini | Yes |
| Uphold | Yes |
| eToro | 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 |
|---|---|---|---|
| Swan Bitcoin |
0.3% | 0.99% | 1.29% |
| Kraken |
0.0% | 0.4% | 0.4% |
| River |
0.3% | 1.0% | 1.3% |
| 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 |
|---|---|
| Swan Bitcoin |
$1.29 |
| Kraken |
$0.4 |
| River |
$1.3 |
| Coinbase |
$3.99 |
History of Bitcoin in Pennsylvania
Pennsylvania has emerged as a significant player in the cryptocurrency space, particularly in its major urban centers of Philadelphia and Pittsburgh. The state's approach to Bitcoin regulation has been guided by the Pennsylvania Money Transmitter Act and Department of Banking and Securities guidance issued in 2019, which clarified that crypto exchanges don't need money transmission licenses for virtual currency-only transactions.
The state has fostered blockchain innovation, with Pittsburgh's Carnegie Mellon University becoming a leading center for cryptocurrency research and development. Philadelphia has developed a thriving crypto ecosystem, hosting numerous blockchain startups and the annual Blockchain Conference Philadelphia.
Financial & Regulatory Licenses
| Exchange | Licenses & Regulation |
|---|---|
| River |
Registered MSB with FinCEN. |
| Kraken |
Registered money services business with FinCEN (USA). |
| River Private Client |
Registered MSB with FinCEN. |
| Coinbase |
Chartered by New York State Department of Financial Services for virtual currency. |
| Coinbase Advanced |
Chartered by New York State Department of Financial Services for virtual currency. |
| Swan Bitcoin |
Swan connects users to licensed custodians Bakkt, BitGo, and Equity Trust, ensuring compliance with state laws. Bakkt is BitLicensed and FinCEN registered; BitGo and Equity Trust operate under their own regulations. |
| Bitcoin ATMs |
Bitcoin ATM regulations vary by state. Please check with individual ATM operators for their regulatory status. |
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 |
| Kraken |
ACH: $0 Wire: $0 SEPA: $0 SWIFT: $3 |
| River Private Client |
ACH: $0 Wire: $0 |
| River |
ACH: $0 Wire: $0 |
Bitcoin Scams in Pennsylvania
Pennsylvania has seen its share of cryptocurrency-related fraud cases. In 2021, the Pennsylvania Department of Banking and Securities reported a surge in crypto investment scams, with losses exceeding $7.5 million. A notable case involved the Philadelphia-based BitConnect promoter Michael Noble, who was charged with participating in a $2 billion global cryptocurrency scheme.
The state's Attorney General's office has been proactive in warning residents about common crypto scams, including fake investment platforms and romance scams involving cryptocurrency. Pennsylvania investors are advised to verify any crypto investment opportunity with the Department of Banking and Securities and to be particularly wary of unsolicited investment offers promising guaranteed returns.
Mobile App Support
| Exchange | iOS App | Android App |
|---|---|---|
| River |
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| Kraken |
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| River Private Client |
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| Coinbase |
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| Coinbase Advanced |
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| Swan Bitcoin |
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| Bitcoin ATMs |
Earn Interest & Rewards
The following table shows interest rates offered by exchanges.
| Exchange | Interest Rate & Details |
|---|---|
| River |
3.8%
Earn 3.8% interest on FDIC-insured cash, paid out in Bitcoin. No fees or minimums. Withdraws allowed anytime.
|
| 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).
|
| River Private Client |
3.3%
Earn 3.3% interest on FDIC-insured cash, paid out in Bitcoin. No fees or minimums. Withdraw anytime.
|
| Coinbase |
4.70%
Earn 4.70% APY rewards by holding USDC on Coinbase. USDC is fully backed 1:1 by US dollars. Minimum $1.
|
| 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.
|
Exchange snapshots
River
| River snapshot | |
| Minimum Deposit | $1 |
| iOS app score |
4.9
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, Bank Account, Wire Transfer |
| 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 |
River Private Client
| River Private Client snapshot | |
| Minimum Deposit | $1 |
| Deposit Methods | ACH, Wire Transfer, Bank Account |
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, Google Pay |
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 | ACH, Wire Transfer, Debit Card, Bank Account, PayPal, Apple Pay, iDEAL, SEPA, Interac e-Transfer, Instant Verification, Google Pay |
Swan Bitcoin
| Swan Bitcoin snapshot | |
| Minimum Deposit | $1 |
| iOS app score |
4.8
Official rating from the iOS App Store as of November 18, 2024.
|
| Android app score |
4.3
Official rating from the Android Play Store as of November 18, 2024.
|
| Deposit Methods | ACH, Bank Account, Wire Transfer |
Bitcoin ATMs
| Bitcoin ATMs snapshot | |
| Minimum Deposit | Each ATM will have a different minimum deposit amount. Typically $20-$50 minimum. |
| Deposit Methods | Cash |