Buying bitcoin in the state of Arkansas has become easier in recent years as cryptocurrency adoption has grown. With a few quick steps, residents of Arkansas can now purchase bitcoin to take advantage of its potential as a new digital asset class.
What you'll learn 👉
Crypto Regulations in Arkansas
Earlier in 2023, Arkansas passed the House Bill 1799, known as the Arkansas Data Centers Act of 2023, which eased regulations on commercial cryptocurrency mining. This bill ensures that the government treats crypto miners the same as other data centers in terms of regulatory requirements. Despite this, concerns have been raised by some residents and legislators regarding the high energy consumption associated with cryptocurrency mining and its potential negative impact on the community and their energy costs.
In response to these concerns, State Representative Matt Duffield recently urged the governor to convene a special session to reconsider and possibly repeal this contentious law related to crypto mining. Additionally, Arkansas has issued “no-action” letters to businesses dealing with digital assets, exempting them from certain regulatory constraints.
Easiest and cheapest ways to buy crypto in Arkansas
No matter where they live, people always seek the easiest and cheapest way to buy bitcoin. Buying crypto in Arkansas is a bit harder than in some other countries so we have compiled a list of exchanges where Arkansas citizens can buy bitcoin.
👛 Ease of Use – Easy 👛 Fees – Average 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – EUR, USD, and 50+ more
Coinbase is widely considered one of the biggest cryptocurrency exchanges, especially in the US. It has over 60 million users which is a remarkable number.
It was founded back in 2012 by Brian Armstrong and Fred Ehrsam. Coinbase has users in over 100 countries. Coinbase’s headquarters are in San Francisco, California. The platform offers not only exchange-based services but also a wallet so it is a perfect place for all crypto investors.
⚡️ Deposit fees: Credit/Debit Card: 3.99%SEPA: €0U.S Bank Transfer: 1.49% (the US $0.15 min.)Coinbase USD wallet: 1.49%ACH Transfer USD: $0 Wire Transfer USD: $10 ⚡️ Withdrawal fees: SEPA: €0.15U.S Bank Transfer: 1.49% (US $0.15 min.) Coinbase USD wallet: 1.49%Wire Transfer USD: $25 ⚡️ Trading fees: Fees vary ⚡️ Payment Methods: Bank Account, Debit Card, Credit Card, Wire Transfer, SEPA Transfer, ⚡️ Supported fiat: USD, EUR, GBP, AUD, CAD, CNY & 50+ more
A variety of fiat currencies supported Over 100 cryptocurrencies supported A regulated and trustworthy company Large user base and widely popular Provides a Coinbase debit card
No future or margin trading Higher trading fees than main competitors have (Binance for instance)
👛 Ease of Use – Easy 👛 Fees – Medium 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, CAD, and 10+ more
Crypto.com, headquartered in Singapore, offers services like an app, exchange, wallet, and NFT marketplace. It supports over 250 cryptocurrencies, enabling users to transact in various digital assets.
Originally founded in 2016 in Hong Kong as “Monaco” by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo, it rebranded to Crypto.com in 2018 after acquiring a domain from cryptography expert Matt Blaze. The company is a subsidiary of Foris DAX MT (Malta) Limited.
By June 2023, Crypto.com boasted 80 million customers and a workforce of 4,000.
Features: Cryptocurrency Trading: The platform allows users to trade numerous cryptocurrencies and offers staking options. Crypto Wallet: Users can securely store their digital assets. In 2022, they introduced support for the Ledger wallet. Crypto.com Pay: A credit card service facilitating payments in cryptocurrencies. NFT Marketplace: A space for trading NFTs. Trading Services: Includes margin and derivatives trading.
An extensive list of supported cryptocurrencies Transparent, competitive fees with discounts available Support for an ecosystem of cryptocurrency products
Higher fees unless you hold and use CRO Poor customer support Trading fee discounts can be confusing to navigate
👛 Ease of Use – Easy 👛 TradingFees – Average 👛 Verification – 1 day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, and more
Paybis is a cryptocurrency exchange based in Scotland and in the UK. It was launched back in 2014 so it has longevity on the crypto market. The exchange has offices in Glasgow, as well as in Riga, Latvia.
Paybis is suitable for users who want long-term investments and has a larger user base. It is available in more than 180 countries in the world, including the US. Paybis supports around 40 crypto assets. The main focus of the exchange is on Round-the-clock support, Worldwide access, Fast security checks, high-level security, and Instant payouts. The exchange is regulated by the Financial Conduct Authority under (FCA), UK’s tier-1 regulatory body.
⚡️ Deposit fees: Free (there is a transaction fee – 2.49%) ⚡️ Withdrawal fees: Free ⚡️ Trading fees: 0.99 – 2.49 % ⚡️ Payment Methods: Bank Transfer, Credit/Debit Card, Skrill, and Neteller. ⚡️ Supported fiat: USD, EUR, GBP, and 40+ more
A lot of payment methods and fiat currencies supported It is regulated The longevity of the crypto market Easy-to-use interface
The number of supported cryptocurrencies could be higher No advanced trading features
Best Bitcoin Wallets in Arkansas
It is never a good idea to keep your coins on an exchange as that exposes you to numerous risks (exchange hacks, fund freezes by the exchange or some government regulatory body, etc). That is why you should use one of the wallets we list below to store your digital assets.
But, which bitcoin wallet is available in this country?
The safest option is a hardware wallet like Nano X but ZenGo is also a good choice, especially for newcomers.
👛 Ease of Use – Easy 👛 Fees – Average 👛 Verification – 2-3 Days 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, JPY, CAD
Kraken stands as a premier cryptocurrency exchange that has been serving the crypto community since 2011. With its platform, users can buy, sell, and trade over 220 different digital assets, including but not limited to Bitcoin, Ethereum, and Cardano. One of Kraken’s most notable features is its unwavering commitment to security, ensuring that users’ assets are protected.
The platform is globally accessible, reaching over 190 countries, though there are a few exceptions like North Korea and New York state. Furthermore, Kraken offers a plethora of payment methods, from traditional credit cards to modern solutions like Apple Pay.
For those dealing in fiat, multiple currencies are accepted, with the U.S. dollar being a popular choice. Advanced traders will also find the platform accommodating, with tools tailored to their needs.
⚡️ Deposit fees: EUR SEPA Deposit (Free) – EEA countries only USD Bank Wire Deposit ($5 USD) – US onlyEUR Bank Wire Deposit (€10) – outside the US only USD Bank Wire Deposit ($10 USD) – outside US onlyJPY Bank deposit (Free, ¥5,000 deposit minimum) – Japan-only USD, Wire Deposit (Free) ⚡️ Withdrawal fees: Cryptocurrency: Fees vary, SEPA Withdrawal (€0.09) – EEA countries only USD Bank Wire Withdrawal ($5 USD) – US only USD Bank Wire Withdrawal ($60 USD) – outside US onlyEUR Bank Wire Withdrawal (€60) – outside US onlyJPY Bank withdrawal (¥20) – Japan onlyCAD EFT Withdrawal ($10 CAD) ⚡️ Trading fees: Maker: 0.16%Taker: 0.28% ⚡️ Payment Methods: Fedwire, Bank Transfer (SEPA), SWIFT, Wire Transfer, Etana Custody, Silvergate Exchange Network (SEN), FPS, CHAPS, and BACS, PayID, Osko ⚡️ Supported fiat: USD, EUR, GBP, JPY, CAD
170+ countries supported Never been hacked Mobile App (iOS and Android) Various payment methods A wide range of cryptocurrencies is available
Fees slightly above the industry average Limited customer support
👛 Ease of Use – Easy 👛 Fees -Low 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD
Gemini Exchange, established in 2014 by the renowned investors and twins, Cameron and Tyler Winklevoss—who also happened to be Harvard peers of Mark Zuckerberg—is a prominent cryptocurrency exchange.
Operating in over 60 countries, including the U.S., U.K., and Canada, Gemini provides a range of services catering to both novice investors and seasoned traders. These services encompass a trading platform, a trusted digital asset custodial service, and a sophisticated trading interface. A standout feature of Gemini is its custodial service, which boasts a substantial insurance coverage of $200 million for its cryptocurrency holders.
⚡️ Deposit fees: Free ⚡️ Withdrawal fees: 0.001 BTC ⚡️ Trading fees: 0.10% – 0.35% ⚡️ Payment Methods: Credit/debit cards, Local bank transfer ⚡️ Supported fiat: USD
Ability to set real-time market limit orders Low fees Clean user interface Strong reputation
👛 Ease of Use – Easy 👛 Fees – Low 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – CAD
Coinsmart is one of the most popular Canadian crypto exchange alternatives. It was founded in 2018 by Justin Hartzman and Jeremy Koven. Considering that it’s a relatively new exchange, Coinsmart has managed to come a long way and build a reputation through its strong customer support and wide range of custom tools.
Coinsmart is highly regarded because of its fast verification process, simple and user-friendly interface, bank-grade security, and plenty of funding through fiat currency options. Advanced traders can also find the platform useful since the platform offers some cutting-edge tools for them as well.
⚡️ Deposit fees: 0 – 6 % ⚡️ Withdrawal fees: 1% ($15 Minimum) ⚡️ Trading fees: 0.20% for a single trade and 0.40% for double trade ⚡️ Payment Methods: Interac E-transfer, Bank draft, SEPA, Wire transfer, Credit card, Debit card, Simplex, and Crypto assets ⚡️ Supported fiat: CAD
Beginner-friendly Strong customer support Includes a referral program Supported by Canadian Bank
USA citizens can’t use the platform A limited list of supported cryptos
👛 Ease of Use – Easy 👛 Fees – Average 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, CAD, AUD + more
Paxful is “the Uber of the Bitcoin”. It is a crypto exchange based in the US that has over 200 employees. Paxful was launched back in 2015 so it has been around for quite some time now. The founders of Paxful are Artur Schaback and Ray Youssef.
The headquarters of the company is in NY, US. Paxful offers a simple, easy way to buy crypto assets. Moreover, if you would like to spread the word about Paxful while generating a 2% revenue from any amount bought, there is Paxful’s affiliate program called “virtual kiosk”.
⚡️ Deposit fees: Free ⚡️ Withdrawal fees: 0.5% – 5% ⚡️ Trading fees: No buyer fee, seller fee varies from 0.5% to 5% ⚡️ Payment Methods: Over 350 payment methods are available ⚡️ Supported fiat: USD, EUR, GBP, CAD, AUD, and many more
An incredible number of payment methods Easy-to-use platform Available in more than 180 countries Security is on a high level
No trading features It is not regulated
Frequently asked questions about buying Bitcoin in Arkansas
Where is the Bitcoin machine located in Arkansas❓
Downtown Little Rock.
Is Coinbase available in Arkansas❓
Yes, it is available.
Is Crypto.com available in Arkansa❓
Yes, it is available.
Are US citizens banned from Binance❓
The original platform stopped accepting U.S. users in 2019 and announced it would instead partner with a U.S.-based version of its platform called Binance.US. For example, Italian regulators announced on July 15 Binance was no longer authorized to operate in the country.
How do beginners buy bitcoins❓
Here’s a quick guide for buying your first Bitcoin: Step 1 – Get a Bitcoin wallet. Step 2 – Locate your Bitcoin address. Step 3 – Choose the amount of Bitcoin to buy. Step 4 – You will be navigated to Binance, where you can enter your Bitcoin address and payment information.
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As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge.
Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!
