How to Buy Crypto in Hawaii
Buy Crypto through Approved Exchanges
In Hawaii, you can purchase cryptocurrency through exchanges licensed by the Department of Commerce and Insurance (DCIL) or a money transmitter license.
Cheapest Option: Gemini
Gemini, a US-based exchange, offers the most cost-effective method to buy crypto in Hawaii.
Other Crypto Exchanges for Hawaii Residents
Hawaii residents can use several US-based and international crypto exchanges, including:
- ErisX
- bitFlyer
- Kraken
- Cexio
Regulatory Sandbox and Future Legislation
Hawaii's Digital Currency Regulatory Sandbox allows selected entities to operate in the crypto space. Additionally, proposed legislation aims to regulate digital currency exchange companies in the state.
Best Exchanges in Honolulu
Consider the following exchanges for buying bitcoin in Honolulu:
- eToro
- HiExchange
Non-Custodial Storage Option: MetaMask
MetaMask is a popular non-custodial wallet that allows you to store your crypto securely without relying on a third party.
Recent News
As of September 9, 2021, a Senate bill passed to enforce tax compliance for cryptocurrency exchanges. However, Hawaii remains on the sidelines.
Cryptocurrency companies will soon be permitted to operate freely in Hawaii, as the State Division of Financial Institutions has greenlit their operations.
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