The BRD Wallet, or Bread Wallet as it is now called, is by far the simplest and most secure mobile wallet for Bitcoin out there.

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This is due to the simple fact that Bread – unlike most of its peers – connects users directly to the Bitcoin Mainnet. And by wrapping up this neat functionality in a plain and uncluttered user interface, Bread makes transacting your Bitcoin as easy as buttering your toast.

So keep reading, and find out how exactly to use this application, and the advantages of doing so in the first place. This is our Bread wallet review and guide.

Contents

Where the BRD Wallet scores over its competition

We all know that there is no shortage of Bitcoin wallets in the market. From the secure (but expensive) Trezor to the free (but relatively insecure) Jaxx Wallet, the crypto world has it all.

So what does Bread have to set itself apart?

The Problems with the usual Bitcoin Wallets

Creating a cryptocurrency wallet is a tricky business. The coins themselves are not actually stored on the wallet. Instead, the coins are kept on the publicly accessible digital ledger called the Blockchain.

With Blockchains, each user – or account – has its own ‘key’, which can be used to access and spend its coins. This key is usually a string of nonsensical letters and numbers, to make it impossible to memorize.

This means that all a cryptocurrency wallet has to do is keep track of the user’s keys. Simple, right? Not quite.

Writing the keys down to the user’s device itself is a straight recipe for disaster – losing the device would mean losing all the coins. Or even worse, a thief with access to the phone could steal all your funds in a blink.

Copying it down to a piece of paper? Sure, that could work, though it would mean losing the convenience of a digital wallet. Still, a paper wallet is the way most people would advise you to go for long term crypto storage.

What most digital wallets do, however, is they put the data on a server. That way, it is easily accessible at all times (even if you lose your device), while being safe enough.

The issue with this approach is the same one with all centralized services – what happens if the server itself gets hacked? Major crypto players have gotten hacked several times in the past (the Mt. Gox hack being the most startling example of this), and will certainly be hacked again.

And when servers are hacked, the funds stored in hundreds to thousands of accounts are compromised.

The Problem with the not-so-usual Bitcoin Wallets

Okay, I get it. Servers are bad. So what do we do then? What stops your typical user connecting to the Blockchain directly?

To connect with the Bitcoin Blockchain, you need to be running a fully featured ‘node’. Lengthy explanations aside, it means that your device needs to become a member of that blockchain, verifying transactions and doing its bit to hold up the network.

This extra work slows up the application and drags out transactions to a snail’s pace. Especially on the limited bandwidth of mobile, the resulting delay could be quite significant. That makes wallets directly communicating with the Blockchain a rare sight in the market.

This leaves users to having to compromise between ease and reliability.

The Solution: BRD wallet

Bread combines the best of both worlds. While it belongs to that rare breed of crypto wallets that do not rely on servers, it does so without sacrificing speed or reliability.

It achieves this by utilizing SPV, or Simplified Payment Verification mode. SPV is an implementation of the Bitcoin protocol suitable for lightweight nodes, such as mobile phones. It lets the node process transactions on the Blockchain without validating the included transactions.

This not only improves speed, but also puts a lesser strain upon your device’s resources.

Add to that Bread’s minimalistic and polished user interface, and you have all the ingredients for a killer app.

Bread Wallet Key Features

Easy Transactions

Transactions, including buying Bitcoin, are much easier with the Bread Wallet. Apart from regular ways of getting Bitcoin into your wallets (such as from an exchange), the wallet also supports in-app purchases. You can use a credit card, a Bitcoin ATM, or a convenience store to get your digital gold.

Also, with the inclusion of cryptocurrencies like Ethereum (ETH), Bitcoin Cash (BCH), and a growing number of ERC-20 tokens, it is also possible to convert your acquired Bitcoin into any supported coin.

Intuitive User Interface

You can see the amount of work the Bread team has undertaken to present a seamless experience. The app has been designed from ground up with simplicity in mind, which reflects in every aspect of its interface.

As a result, the learning curve of the wallet is smoother than that of its peers, allowing the application to be used to its fullest extent by even those who are new to the world of cryptos. And the best thing? This does not come at the cost of security or nifty features. Phew.

Truly Decentralized

Bread is one of the few crypto wallets that can claim to be fully decentralized. It has no accounts to set up, no passwords to remember – and consequently – no servers to hack. This means that your funds are secured no matter what, be it a stolen device or a hacked system.

Furthermore, the funds can be easily retrieved from any device, anywhere in the world by using a 12 word paper key that you get on setting up. Now that’s what we mean by a decentralized crypto storage system.

Accessible Support

This point cannot be stressed enough.

These days, cryptocurrency related applications are being developed by the dozen. While almost all will get the job done, virtually none provide support in case things do go wrong, which is more than probable in such a quick growing space. Even comprehensive documentation – a staple in all things technical – is often missing, leaving users grasping in the dark.

Bread, in contrast, has a built-in support section in the app itself. It features an extensive knowledge base, covering most common issues. In case things still don’t work for you, the Bread team can be directly contacted by e-mail. And before you ask– yes, they do respond, even within a few hours. And on nights and weekends as well.

How To Setup the BRD Wallet?

Setting Up

Step 1

Get the application from your respective application store. Head to Google Play if you are on Android, and the Apple App store if iOS is your platform of choice. It’s a free install on both.

Get The BRD Wallet App On iOS Now!

Download The Bread Wallet On Your Android Device!

Step 2

Fire up the application. You should be presented with a screen like this.

Step 3

How To Sell Bitcoin Brd

The Recover Wallet option is for when you lose your mobile, or simply want to migrate to a new device. For now, we will stick with creating a new one. Tap on the ‘Create New Wallet’ option.

Step 4

Now the app will prompt you to set a six digit PIN. Decide on a PIN you can remember without writing down, but try not to choose something too obvious either.

Step 5

The Bread Wallet is an HD wallet; this means it will generate your addresses from a starting value that is presented to you as a 12 word phrase. This string of nonsense will actually work as the key to your wallet, allowing you to restore your funds in case of damage or loss of your device.

Make sure that you note it down somewhere safe. Under no condition should you simply type it into a text file and store it; electronic media can be hacked, with such unencrypted (read: stored in plain sight) files being the prime target.

Also avoid saving just a screenshot, for a hacker can gain access to those pics just as easily. The best option by far is to write it down the old fashioned way – on a piece of paper.

And do save it; the app will prompt you to re-enter a few of the words before continuing to make sure that you didn’t cheat.

Step 6

Since the Bread Wallet supports multiple cryptocurrencies now, you will be prompted to select the coin that you wish to work with. For now, we will go with Bitcoin. Select the option, and you will be brought to the home screen at last.

And that’s it! Your decentralized Bitcoin wallet is all set up and ready to use!

For the specifics of actually using it, keep reading.

How To Receive Bitcoin?

Receiving Bitcoin to your Bread Wallet – from a friend, or maybe from a crypto exchange you bought it from – is very easy. To begin with, navigate to the home screen and tap on ‘Receive’.

This is what you will see.

Share your Bitcoin address

Now, you have four different options for proceeding. If the person sending you the amount is somewhere around, they can simply scan the QR code with their own app. Alternatively, you can tap on the share button to send an e-mail with your Bitcoin address.

Another way is to simply tap on the address to copy it to the clipboard, after which you can enter it into the required field yourself (for example in case of a self-transfer from a cryptocurrency exchange like Coinbase or Gemini).

The final method is to ‘Request’ an amount. Selecting this option brings up a form like the one below.

Requesting an amount

Again, the options are similar, with means to share the address via copying to clipboard, an Email or Text Message. The only difference is that the amount is specified by you instead of being set by the sender. This feature is mostly useful only in case of utilizing Bitcoin for payments, where the amount is billed by the seller instead of the sender of the funds.

Or you can use it just to make transactions precise.

Once you have shared your Bitcoin address, the ball is in the sender’s court now. In case that person is you as well (if you are withdrawing funds from your crypto exchange account), put that address in the ‘destination’ field, select the amount to send, and you are done.

Transaction Receipt

As you may already know, transactions on the Bitcoin network are not instantaneous in nature. The transaction has to be vetted by miners, and added to a block. Even that must be done a sufficient number of times before the transaction could be definitely considered to have been completed.

To track the progress of this somewhat lengthy process, Bread gives you a transaction receipt.

The receipt tracks your transaction in 20% increments, which is actually a mark of a certain number of confirmations on the Bitcoin network. For an even more exhaustive list of details, select the transaction itself to open this message.

As you can see, it contains all the details regarding your transaction, for future reference and record keeping. And once your transaction is finally complete, you will also see an updated receipt to notify you of the same.

And that’s it for receiving funds to your Bread Wallet!

How To Send Bitcoin From A Bread Wallet?

Sending Bitcoin is equally easy on Bread. Navigate to the home screen, and this time, tap on Send. You will find yourself with the appropriate form.

All you have to do now is to update the amount, put in an address, and you are done. For the address, you can either scan the QR code, or paste it from the clipboard.

Tip- You can toggle between fiat and Bitcoin by tapping on the button next to the amount field.

Selecting a Speed

As mentioned earlier, transactions on the Bitcoin Blockchain involve a bunch of miners to process them. To speed up the process a bit, you can choose to add a little incentive by the way of extra fees. On the other hand, if the transaction is not urgent, you can pay the bare minimum and choose to wait instead.

Regular Speed

This is the standard mode for Bread transactions. Comparatively, it is the more expensive option, allowing your transaction to complete within an hour. The applicable network fee is displayed for your convenience.

It is the go-to option for transactions of urgent nature, such as payments.

Economy Speed

This is the cost-effective option. If you are not in a particular hurry, choose this option. It will save you some on the network fee, but the transaction confirmation can take up to 24 hours, which is fine for most regular Bitcoin transfers though.

Once you have chosen a speed, you need to add the required network fee into the amount as well, otherwise, the app will throw this message at you.

Adjust the amount accordingly, and you will be able to press the Send button. There is, however, one more step before your Bitcoin goes on its way.

In order to prevent someone else from accessing your device (while left unattended on the Bread app itself), the Wallet will ask you to re-enter your six-digit PIN.

Enter it, and the transaction will go through, immediately presenting you with the receipt for it.

As before, the transaction will be tracked in increments of 20%. As you can see, the receipts stack upon each other, so you can view the status of all your recent transactions at once.

Depending on the transaction speed chosen, the process will complete in either a day or an hour, with a notification being sent to you as soon as it is done.

How To Buy Bitcoin through Bread Wallet?

Bread also offers you the handy option to buy Bitcoin from the app. There are two main ways; using the Glidera service (now renamed Kraken Direct), or from a Bitcoin retailer or ATM nearby.

The latter option is more or less a built-in search function; the app does not process any payment or deliver the Bitcoin to you. Still, it could be the fastest and the most hassle-free method, provided there are stores nearby you.

Buying Bitcoin Directly Through The BRD App

For this, we will choose the first option. The following screen will greet you.

To purchase Bitcoin from Glidera, you need to link a Bank account. Tap on the “Get started with Glidera” option to continue.

After linking an account, simply follow the in-app instructions to buy Bitcoin. Keep in mind, however, the delivery of the coins takes a handful of days.

How To Enhance Your Bread Wallet Security?

By default, Bread is pretty secure. It forces you to set a six-digit PIN, which, in combination with your twelve-word pass-phrase, should safeguard your funds. But in case you are looking for an extra layer of security (or just want to change the PIN or obtain the paper key again), there are options for doing so.

First, navigate to the Bread Menu. On the menu, tap on the Security Center. The page will load.

It only gives you three options. Option one lets you change your PIN. The second option is the only thing that is new here; it activates Fingerprint Authentication to approve your spending up to a set limit. The third option just lets you note down your twelve-word backup phrase again.

Support Center

From the same menu, you can also navigate to Support. Basically, it is a compendium of frequently asked questions about using Bread, covering almost every issue you might face on the application.

Not Just a Wallet

While currently Bread functions just as a cryptocurrency wallet (albeit a good one, at that), it does not intend to remain so forever. Ultimately, the team behind Bread have plans to implement a complete financial services ecosystem, building upon the ease of use of the wallet.

The Future Roadmap

Decentralized Asset Exchange (DEX)

We are already seeing plenty of tokens built around the same premise: a trustless asset exchange, powered by atomic swaps. The advantage of Bread is that it already has a large user base, and a tested product that could act as the platform for such an exchange.

Payments Platform

Another hot button area for crypto. Every coin is trying to crack the payments platform business, which could send existing solutions running for their money. Bread is aiming to integrate a third party payments system directly into the wallet app, making spending your Bitcoin (or other cryptocurrencies for that matter), as easy as fiat.

Portfolio Management

Similar in aim to the Ethos project’s Fusion Financial collaboration, the portfolio management platform will be a natural evolution for Bread. For once it starts supporting a large number of cryptocurrencies, it will just be a step away from allowing the trade and management of these assets.

Furthermore, such a platform might even allow users to invest in ICOs from a secure platform, recreating the traditional investment industry’s solution in crypto.

Additional Financial Services

Many have remarked on crypto’s ability to replace the traditional Banking system. Services like bill payment, loans via peer-to-peer lending, long-term savings accounts, and even direct deposit of user salaries in the form of cryptocurrency, could be offered by such a platform.

And among the many projects striving to create a crypto Bank, Bread is certainly a forerunner, leveraging its existing market reach and demonstrated technical excellence to make this dream come true.

BRD: The Bread Token

To fuel the financial ecosystem the Bread is envisioning, the team decided to launch its own token. Trading with the ticker symbol BRD from the winter of 2017, the coin went on to raise $20 million in its Initial Coin Offering (ICO).

The funds are being used to implement the roadmap aggressively, to take Bread to the next level as soon as possible. Moreover, the coin is a utility token; once the myriad services are in place, it would see a central role in facilitating the functioning of the system.

Conclusion

All in all, Bread is a solid Wallet to use if your crypto of choice is supported by it. With its slick interface, impressive speed and time-tested reliability, you would be hard pressed to find a better alternative.

By also offering multiple sending speeds and other advanced features, Bread gives enough customization options to achieve every purpose efficiently. Add to that its impeccable security and transactions on Bread work like a charm.

And finally, the continuous development of additional, ambitious features bodes well for the application and its ecosystem, promising bright things ahead for its users.

1) BRD Wallet Not For You? Wondering What Competitors Are Out There? Weigh Up If The Ethos Universal Wallet Is For You.

2) Still Searching For The Best Way To Get Into Crypto Markets? Learn How Coinbase Or Kraken Might Be The Best Options.

3) Interested In Using The Exchange With The Longest Track Record To Get Into Crypto? Learn Everything You Need To Know About Bitstamp In Our Detailed Review.

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We may receive advertising compensation when you click certain products. Before jumping into this page, an important disclosure.

You'll need a Bitcoin wallet before you buy since some exchanges require one.

Don't have a wallet? Read our guide on the best Bitcoin & cryptocurrency wallets.

• Popular Exchanges to Buy Bitcoin & Crypto in New York
• Coinbase

  • High liquidity and buying limits
  • Easy way for newcomers to get bitcoins
  • 'Instant Buy' option available with debit card
• Coinbase Pro

  • Some of the lowest fees available for US customers
  • High liquidity; good for buying large amounts of crypto
  • Based in the USA
• Gemini

  • Clean platform for advanced traders
  • Supports all US states
  • Trusted exchange

Coinbase Buy Bitcoin Read Review

Coinbase is the world's largest Bitcoin (BTC) broker. They represent an easy and fast way for new users to purchase bitcoins. Coinbase supports customers in over 30 countries, including the United States, Europe (besides Germany), UK, Singapore, Canada, and Australia.
Customers in the above-mentioned countries can purchase bitcoins by debit card, bank transfer, SEPA transfer, and more.

We may receive compensation when you use Coinbase. Please visit Coinbase for its exact pricing terms.

• High liquidity and buying limits
• Easy way for newcomers to get bitcoins
• 'Instant Buy' option available with debit card

• Purchases made with bank transfer can take up to 5 days to complete
• Coinbase may track how and where you spend your bitcoins

Read Review

Coinbase Pro Buy Bitcoin Read Review

Coinbase's exchange, Coinbase Pro, is one of the largest Bitcoin exchanges in the United States. Users can fund their accounts via bank transfer, SEPA, or bank wire. Coinbase Pro offers good prices and low fees, but their confusing user interface may initially prove difficult to navigate.

We may receive compensation when you use Coinbase Pro. Please visit Coinbase Pro for its exact pricing terms.

• Some of the lowest fees available for US and EU customers
• Possible to buy bitcoins for 0% fees

• User interface is confusing for first time buyers

Read Review

Bitcoin IRA offers a tax-advantaged way to invest in Bitcoin and Ethereum using your 401k or other retirement savings.

Bitcoin IRA is a US licensed IRA custodian, so you know your crypto or Bitcoin IRA is in full compliance with the Federal Government.

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• Tax Advantaged Bitcoin Savings
• Easy to set up account

• Cannot custody the Bitcoin yourself

Gemini is a New York-based Bitcoin exchange, open to residents of the United States, UK, Canada, Hong Kong, Japan, Singapore and South Korea. Deposits can be made via wire transfer, SEPA or ACH transfer.

• Trustworthy and regulated exchange
• Instant deposit lets you buy coins quickly (but not withdraw them)
• Some of the lowest fees in the US and Canada

• Somewhat confusing to use for new buyers
• Not yet available in all US states

You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.

• Our map makes it super easy to find a Bitcoin ATM near you

• Bitcoin ATMs often have 5-10% fees per purchase

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Chapter 1

Bitcoin & Cryptocurrency Trading in New York

New York can lay a convincing claim to be the center of world finance. Certainly, the city is the undisputed capital of American banking and business.

With the face of finance changing so rapidly over the last two decades, you may think that the New York establishment would be open to new ideas, new technologies, and new forms of money.

New York was an early haven for Bitcoin enthusiasts and innovators, such as Charlie Shrem's startup BitInstant which was founded in Brooklyn in 2012.

Yet the aggressive approach that New York's financial regulators have taken makes things difficult for many New Yorkers looking to get into crypto.

The BitLicense - a license only issued to government-approved firms - means that all exchanges and cryptocurrency service providers operating in the state are highly regulated. It could be argued that this protects New Yorkers from shady operators, or that it drives them to seek out other, less regulated providers.

How To Buy Bitcoin For Wallet

The introduction of the BitLicense was met with applause by some sections of the crypto community - such as Gemini's Winklevoss twins - and resignation by others such as ShapeShift, Bitfinex, and Kraken, the latter of which called it 'a creature so foul, so cruel that not even Kraken possesses the courage or strength to face its nasty, big, pointy teeth.' No other U.S. state has taken such a proactive approach to the creation and tightening of laws regarding cryptocurrencies and digital assets.

Notwithstanding this official ambivalence to the number one cryptocurrency, other organisations in the state have been getting in on the action. Greenridge Generation is a natural gas power plant located in upstate New York, near Dresden in the Finger Lakes region. In March of 2020, the company announced that it had finished its Bitcoin mining farm. 7,000 mining rigs - powered by energy generated on site in excess of customer demand - push the facility to mine about 5.5 BTC per day (pre-2020 halving). This requires about 14 megawatts of the plant's 106 megawatt maximum output.

Shortly after going online, Greenridge announced that it had sold 30% of its hash power to private investors: mostly hedge funds and family offices. Buyers benefit by gaining exposure to (generally) profitable Bitcoin mining without having to purchase and set up their own equipment. Greenridge benefits by locking in certain prices and having a source of upfront revenue to drive their operations.

Despite the restrictions of the BitLicense, if you're looking to buy Bitcoin the safest and easiest way to do so is still via an exchange.

If you'd rather limit the amount of personal information you're handing over, you can buy Bitcoin using cash at a Bitcoin ATM, or with cash plus a large range of payment methods such as PayPal and gift cards at LocalBitcoins.

No matter where you buy your Bitcoin, you're going to need to store it somewhere. Exchange wallets are notorious for hacks, and there are much more secure options out there that suit a range of needs, from easy to use software wallets to top of the line hardware wallets.

Because of the BitLicense, are Crypto Exchanges Legal in New York?

The short answer is: yes.

As long as a company holds a valid BitLicense while doing business in New York or with New Yorkers then they are perfectly within the law to provide cryptocurrency services. This is exactly what the BitLicense was created for.

The first crypto company to receive a BitLicense was Circle - the company you may know as being in charge of the USDC stablecoin.

Since then, an additional 24 firms have received approval from the (NYDFS), including well-known exchanges such as Gemini and Coinbase, as well as XRP II, Ripple's legal entity.

Some exchanges, however, Bitfinex and Shapeshift included, decided to terminate their New York-based operations rather than applying for a BitLicense.

Criticisms were leveled at the heavy-handed approach to regulation that the NYDFS was taking and the lengthy application process for a BitLicense. Many feared that these two factors in combination would kill the grassroots growth that made Bitcoin truly decentralized.

While the NYDFS has signalled that it may be open to relaxing the terms of the BitLicense in order to draw talent and capital to the state, the regulations are still in full force for the time being.

-

Chapter 2

Top Bitcoin & Cryptocurrency Exchanges in New York

New York has access to many large Bitcoin and cryptocurrency exchanges.

Have a look at our favorites below:

• Popular Exchanges to Buy Bitcoin & Crypto in New York
• Coinbase

  • High liquidity and buying limits
  • Easy way for newcomers to get bitcoins
  • 'Instant Buy' option available with debit card
• Coinbase Pro

  • Some of the lowest fees available for US and EU customers
  • Possible to buy bitcoins for 0% fees
  • Run by Coinbase
• Gemini

  • Clean platform for advanced traders
  • Supports all US states
  • Trusted exchange

-

There are three main types of Bitcoin wallet and all of them are supported in New York:

• Software (desktop or mobile - iOS and Android wallets
• Cold-storage (paper or steel wallets, the latter of which are used to backup your main wallet.

Best for Security

Ledger Nano X

Secure storage for any cryptocurrency

Visit Website

The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.

Temporary Wallet

Zengo

Best for storing crypto for short period of time

Learn More

ZenGo is an easy-to-use iOS and Android Bitcoin & crypto wallet. Start within 20 seconds.

Best for Desktop

Electrum

Simple yet powerful desktop wallet

Learn More

Electrum is a Bitcoin-only wallet that has been around since 2011. It's easy to use, but has advanced features.

-

Chapter 4

Exchange Hacks and Crypto Scams in New York

Despite the aggressive approach that the New York Attorney General has taken to crypto regulation and prosecution, some shady people have still attempted to make a quick buck off naive investors.

Perhaps the biggest (alleged) crypto scam related to New York is the most popular stablecoin: Tether (USDT). The New York Attorney General, Letitia James, has brought a suit against Hong Kong-based iFinex Inc. - the operator of Bitfinex and the owner of Tether - alleging that the company printed up to $850 million in unbacked Tether to cover unreported losses.

This could have been a hack of Bitfinex, who would have then decided to coverup the intrusion and payout customer withdrawals by creating new Tether.

Tether, which claims though has never definitively proven to be backed 1:1 by U.S. dollars, denies the allegations and is disputing them in court.

On a smaller scale, there have been a number of people charged in New York for Bitcoin scams.

One man was arrested at JFK airport on his way back from Ukraine, where police found him in possession of thousands of ill-gotten credit card numbers. The DoJ alleges that Vitalii Antonenko earned more than $140,000 in BTC from selling these card numbers over a period of six years.

Antonenko used SQL injection attacks to scour the internet for websites with vulnerabilities that were likely to expose sensistive information, from where he obtained the credit card numbers. Police were alerted after seeing a large volume of BTC exchanging hands on a third-party website for well below the market rate.

In 2019, a man was charged by the Department of Homeland Security and prosecutors for the Southern District of New York for wire fraud, after he ran a crypto scam defrauding investors of their money under false pretences, a charge which carries a maximum of 20 years in prison. Asa Saint Clair allegedly enticed people to invest in IGOBIT by World Sports Alliance, an intergovernmental organization which promoted international development through sports. The problem is that none of the money ever went to IGOBIT. Instead, it went to international flights, dinners at New York restaurants, and personal online shopping.

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Does Coinbase Work in New York?

Coinbase is the most popular crypto exchange in the U.S. and is available to New York residents.

Does Gemini Work in New York?

New York is home to Gemini, and the Winklevoss brothers' company was among the first to receive a BitLicense allowing them to operate in the state. Gemini is an active supporter of crypto regulation, believing it will lead to a safer ecosystem and greater adoption.

Does Coinmama Work in New York?

Coinmama does not work in New York.

Does Kraken work in New York?

Kraken is not available in New York. The company ceased its operations in the state in 2015, as a direct consequence of what they termed the 'abominable BitLicense'.

Where Can I Find a Bitcoin ATM in New York?

The best way to find a Bitcoin ATM in New York is to use CoinATMRadar.com.

Here, you can filter by any of the most popular cryptocurrencies, find ATMs that support buying, selling, or both, and find stores and merchants that offer crypto services.

What Can I Buy With Bitcoin in New York City?

CoinMap lists hundreds of brick and mortar businesses in New York that accept Bitcoin as payment, from clothing retailers to bars, restuarants, and nightclubs.

With the number of online stores that accept Bitcoin increasing by the day, you shouldn't have any problem finding somewhere to spend your BTC.

You can buy Xbox games and Windows Phone applications on the Microsoft store with Bitcoin, or shop all of Overstock.com's products knowing that you can check out with Bitcoin thanks to their partnership with Coinbase.

What is the New York Bitlicense? Who Created It?

The BitLicense is essentially a seal of approval from the New York Department of Financial Services (NYDFS), certifying that the recipient is authorized to provide cryptocurrency services in the state of New York.

It is illegal to operate in the state without a BitLicense.

As of 2020, there have been 25 BitLicenses issued to companies operating in New York.

Does Crypto.com Work in New York?

Crypto.com is available in 49 U.S. states. You can surely guess which state is the final holdout. Yep, you got it: New York.

We are now available in 49 states in the U.S. It was not easy to do, but we've done it. So everything besides New York basically is done and dusted.

We don't have a date for New York. As you know, New York State is the most complicated state in the US to launch with the BitLicense and whatnot, so no immediate plans for New York.

How Much is the Tax for Capital Gains on Bitcoin in New York?

Capital gains tax is something to keep in mind whether you're a daytrader or a longer-term investor. Cashing out will incur capital gains tax if the value of your Bitcoin has appreciated since you bought it.

That said, the tax code is notoriously complicated, so finding out which capital gains tax rate applies to your specific situation is not always easy. Combine that with the fact that many accountants are unfamiliar with the ins and outs of cryptocurrency trading, and it can seem like an impenetrable problem.

A range of software has cropped up to address this problem, and with a little bit of effort on your part (mostly just exporting your trade history and importing it into the program) calculating your crypto taxes has never been easier.

Check out our guide to the best cryptocurrency tax calculators out there.