How to Buy Cryptocurrency in Georgia In 2024 – The Ultimate Beginners Guide

This guide on how to buy cryptocurrency in Georgia state will explain you everything you need to know about buying crypto assets in Georgia. First, we must observe that the Peach State is crypto-friendly and welcoming of Bitcoin mining. In fact, a significant portion of the Bitcoin mining industry in North America is also domiciled in the State.

Below, we will tell you where to buy cryptocurrency in Georgia and go over the regulatory and tax status of cryptos in the state. By the end of this guide, you will have learned how to buy your first digital asset in 2024.

How to Buy Cryptocurrency in Georgia – An Easy 4-Step Guide

This quick guide teaches you how to buy cryptocurrency in Georgia via eToro today. Here, you will find established cryptos like Bitcoin, Ethereum, and Solana. You also get to buy the best DeFi coins, including Uniswap, Maker, and Aave. The process is quick and straightforward and you can start buying cryptos with as little as $10.

• Step 1: Register a free account on eToro – On your browser, open the official eToro.US website and hit the “Join Now” icon. Complete the registration form that pops up here. The crypto brokerage will also demand that you verify your identity. You also need to come up with a unique username and password for this account.
• Step 2: Deposit Funds – Proceed to deposit at least $10 to this account. eToro supports all the popular deposit methods, including credit cards, debit cards, ACH transfers, PayPal, eWallets like Skrill, and bank wire deposits.
• Step 3: Find the best crypto to buy – eToro currently lists close to 30 popular digital currencies. Access the supported cryptos page and identify the virtual currency you wish to trade.
• Step 4: Buy Cryptos – Hit the “BUY” option against the crypto you wish to invest in today. Use the trading tab that pops up here to customize this investment by indicating how much you intend to invest in this asset. Hit the “Open Trade” button to execute this investment.

Investments are subject to market risk, including the possible loss of principal. Virtual currencies are highly volatile. Your capital is at risk.

Below, we will walk you through this crypto-buying process in detail. First, though, we need to discuss where to buy the best cryptos for beginners in Georgia. We will also have to look at the legal status of crypto investing in The Goober State and the tax implications of your crypto income.

Most Popular Cryptos to Buy in Georgia

Bitcoin is one of the most traded cryptocurrencies in the US and among the most traded virtual assets in Georgia. The majority of Georgian crypto traders and investors interact with Bitcoin. This explains why virtually all the best crypto exchanges in Georgia list the top digital currency. There, of course, are several other equally popular crypto assets in the Empire State of the South. These include:

• Dogecoin
• Ethereum
• Solana
• Bitcoin Cash
• Litecoin
• Ripple
• Shiba Inu
• Avalanche
• Chainlink

Where to Buy Cryptocurrency in Georgia

We have already mentioned that there are countless top altcoin exchanges operating in Georgia. In coming up with this list, we vetted tens of the most popular digital trading platforms. In this case, we considered factors such as their reliability, crypto library, ease of use, beginner friendliness, cost of trading, regulation, and more.

1. eToro – Overall Best Crypto Exchange in Georgia

eToro is a multi-regulated and highly reputable crypto exchange. It is regulated by the SEC and is also a member of FINRA. Established in 2007, the trading platform has cultivated a reputation for reliability and safety over the years. It, for example, has maintained one of the highest uptime for a crypto website. But even more importantly, eToro has never been hacked. It has never lost or misappropriated client digital assets.

The crypto exchange also features among the best crypto exchanges in Georgia because of its beginner friendliness. eToro, for example, has one of the most straightforward account-opening processes. It also presents you with multiple tools and features dedicated to beginners.

These include comprehensive education resources that teach you how to invest in cryptos. It also provides you with a free demo account loaded with $10,000 in virtual funds. Not forgetting that it has one of the quickest crypto-buying processes.

But eToro also appeals to expert traders. It achieves this by hosting a decent range of digital assets. The exchange is also deeply liquid and has some of the fastest transaction processing speeds. eToro is also a commission-free broker and maintains fixed, yet highly competitive, trading fees. To buy Bitcoin on eToro in Georgia, for example, you will only pay a fixed rate of 1% of the trade volume.

Several other factors help make eToro one of the best places to buy cryptocurrency in Georgia. These include the fact that it integrates 75+ technical indicators and charting tools. It is also multi-platform and presents users with a free and safe digital wallet. It even supports passive crypto investing via staking and copy trading.

Investments are subject to market risk, including the possible loss of principal. Virtual currencies are highly volatile. Your capital is at risk.

2. Coinbase – Best Crypto exchange for Beginners in Georgia

Coinbase is the most popular crypto exchange in the US. It is also the most liquid crypto trading platform with more Bitcoin reserves than any other exchange in the US. Coinbase is also a highly regulated trading platform regulated by the SEC. Not forgetting that it became the first crypto exchange in the world to go public in April 2021 when it was listed with NASDAQ. These make it the best crypto exchange in the US right now.

But these aren’t the only reasons why we feature Coinbase among the best altcoin exchanges in Georgia. It also makes it here because of its solid reputation for beginner friendliness, great customer service, and safety. The exchange, for instance, maintains a quick and straightforward client onboarding process.

It also lets you buy cryptos like Bitcoin instantly and you only need $2 to get started. You even get to interact with the learn-to-earn program. Here, you earn free crypto simply by learning about different cryptos and programs.

Coinbase also provides its clients with free crypto wallets. First is the exchange-based web wallet. This holds as much as 98% of your digital assets offline and Coinbase insures the remaining 2%. You also get a free and non-custodial mobile wallet app for iPhone and Android. This encrypts your private keys before depositing them into the root storage of your smartphone.

Further, Coinbase makes it to this list of the best place to buy cryptocurrency in Georgia because it is user-friendly. For starters, it is multi-platform and, therefore, allows you to trade via the Coinbase web trader, the Coinbase mobile trading app, and the Coinbase PRO platform. The PRO platform is dedicated to expert traders and features not only more advanced trading tools but also lower fees. This makes it one of the best crypto trading platforms for active traders.

Investments are subject to market risk, including the possible loss of principal. Virtual currencies are highly volatile. Your capital is at risk.

3. Gemini – Best Crypto Exchange in Georgia With a Large Crypto Library

The Gemini exchange went live in October 2015, and it was co-founded by brothers Tyler and Cameron Winklevoss. To date, more than $200 Million worth of crypto trades have been transacted on this platform daily.

This makes it one of the most liquid crypto exchanges in the US. Much of this can be attributed to its decent crypto library, as it lists more than 80 digital assets. Here, you get to interact with not just the best cryptos to buy for beginners but also new cryptos.

Among the top factors helping Gemini rank this high among the top crypto exchanges in Georgia is its ease of use. Like all the top exchanges, Gemini has an easy client onboarding process. It is also a multi-platform exchange that appeals to both beginner and expert crypto traders. Here, you can trade on the Gemini web trader or the Gemini mobile trading app. Both integrate multiple educational resources targeting novice crypto investors.

They also integrate multiple advanced trading, analysis, and risk management tools that appeal to expert traders. Further, Gemini maintains some of the fastest transaction processing speeds. The trading platforms are also easily navigable, with all the key features and tools clearly displayed on the trading platform. These, and Gemini’s liquidity, make it one of the top choices for day traders.

Gemini also makes this list because it is one of the safest crypto exchanges in the US. The exchange has put in place institutional-level security safeguards around client assets. These include holding more than 90% of client digital assets in cold storage. It then provides its platform users with a free and non-custodial mobile wallet app for iOS and Android devices. Gemini also demands investors to enable multi-factor authentication for their trading accounts and wallets.

We must, however, observe that Gemini suffered a security breach in December 2022. This resulted in the loss of personal information of more than 5.7 million Gemini users. The exchange claims, however, that no customer funds were stolen.

Other factors making Gemini a top crypto trading platform in Georgia include its support for passive investing. Here, you stand to earn double-digit percentage interests – APY – on staked cryptos.

It also exposes you to multiple ways of investing in cryptos. For starters, you can buy Ethereum instantly with credit cards on Gemini. You may also open a buy/sell order on the exchange’s trading platform. You can also choose to trade crypto derivatives or invest in NFTs on Gemini.

Investments are subject to market risk, including the possible loss of principal. Virtual currencies are highly volatile. Your capital is at risk.

4. Kraken – The Safest Crypto Exchange for Crypto Investors in Georgia

Founded in 2011, Kraken is one of the oldest and most reputable crypto exchanges on this list. Throughout this time, it has cultivated a solid reputation for reliability and safety. For starters, Kraken has one of the highest site uptime of any crypto exchange. But even more importantly, Kraken has never been hacked or lost client funds. This makes it the safest crypto exchange in the US right now.

To achieve this feat, Kraken has put in place multiple security safeguards around its systems and client funds. It, for instance, encourages all its platform users to enable multi-factor authentication on their crypto trading accounts and associated emails. Further, Kraken stores 90%+ of client private keys in ultra-secure and geographically distributed offline vaults. Note, however, that Kraken does not provide its platform users with a stand-alone mobile wallet app.

Kraken has also made it here because of its user-friendliness. The multi-platform exchange appeals to both novice and pro-crypto traders. This lets beginners buy cryptos like Bitcoin and Ethereum instantly with debit cards. It is also home to educational resources that teach newbies how to invest in cryptos as well as how to keep their digital assets safe. Expert traders can, on the other hand, get to interact with the feature-rich Kraken trading platforms.

These experts can open buy/sell trade on the Kraken web trader or the mobile trading app. Alternatively, they may use Kraken PRO. This has more advanced trading, market research, and analysis tools.

Here, you get to interact with 100+ charting tools and technical indicators. The trading fees on Kraken PRO are also more competitive. High-volume traders, on the other hand, use the Kraken Dark Pool – an OTC platform that lets you buy and sell cryptos pseudonymously and at the most competitive rates.

Kraken is also the best crypto exchange to buy cryptocurrency in Georgia because it charges competitive crypto trading fees. This fee is volume-based and ranges between 0% and 0.26%. The charge for buying cryptos instantly, however, depends on the volume of trade and payment method used.

5. Crypto.com – Best Place to Buy Cryptocurrency Instantly

Crypto.com is a comparatively new crypto exchange with its headquarters in Singapore. Its stateside popularity spread in 2022 when it ran a Superbowl ad. Among the things that resonate with crypto traders in Georgia is its impressive passive earning program. The exchange lets you stake 20+ digital assets, with some earning you double percentage interest rates – APY. It is also one of the few crypto exchanges that let you stake Bitcoin.

In addition to passive investing, Crypto.com makes it here because of its low fees, large crypto library, and deep liquidity. You, for instance, can trade 200+ cryptos and 350+ crypto pairs on Crypto.com in Georgia. The exchange is also deeply liquid and maintains some of the fastest transaction processing speeds. When buying the best altcoins on Crypto.com, you will only have to part with a competitive and volume-based maker/taker fee of between 0% and 0.075%.

If you have staked CRO tokens on the exchange, you won’t pay a maker fee. Taker fees, on the other hand, are discounted by between 3% and 30% for traders who have staked CRO tokens. These make the best crypto trading platform for active traders.

We also liked Crypto.com because it presents you with multiple ways of investing in cryptos. You, for instance, can buy Bitcoin instantly with PayPal on Crypto.com. Other supported payment methods include credit cards, debit cards, ACH transfers, and bank transfers. Crypto.com also lets you margin trade spot cryptos and crypto derivatives with leverage starting from 5X.

Other factors making Crypto.com one of the best places to buy cryptocurrency in Georgia include its safety. Like most of the top crypto exchanges here, Crypto.com holds more than 90% of your digital assets offline. It also provides all its platform users with a secure mobile wallet app. Not forgetting that Crypto.com maintains a proof of reserves record that is updated by the second.

6. Bitstamp – Best Crypto Exchange for Low Fees in Georgia

Established in 2011, Bitstamp is one of the oldest and most reputable crypto trading platforms in the US. The regulated crypto exchange is renowned for its reliable trading platform and crypto trading fees. When buying Bitcoin on Bitstamp, for instance, you will only part with a competitive maker/taker fee of between 0% and 0.04%. However, the cost of buying cryptos instantly with cards may be up to 4% of the trade volume.

BitStamp is also popular because it supports several passive investing programs. The all-popular exchange lets you earn through crypto lending and staking. You can stake and lend 20+ of the most popular digit assets on the platform and earn double-digit percentage gains – APY.

We also liked BitStamp because it presents you with multiple ways of buying cryptos on the platform. You, for instance, can buy Ethereum and other cryptos on BitStamp for as little as $10. Alternatively, you get to open a buy/sell order on the ultra-fast trading platform. You can even margin-trade crypto derivatives on the BitStamp trading platform. Not forgetting that the exchange supports a decent range of digital assets.

BitStamp further makes it here because of its solid reputation for safety. Note that BitStamp suffered a security breach and BTC worth more than $5.3 Million was stolen in January 2015. Today, the exchange has enforced multiple security features around its system and client accounts. It, for instance, holds as much as 95% of client private keys in offline vaults. It also encrypts client accounts heavily and allows users to whitelist addresses.

7. Robinhood – Buy Cryptos Fee-Free in Georgia

Robinhood is arguably the most popular commission-free crypto exchange in the US today. Founded in 2013, it was designed to democratize the finance sector. It achieves this by granting the average investor access to the most popular trading instruments. Today, the multi-asset trading platform lets you buy and sell such assets as stocks, ETFs, treasuries, and commodities. You can also buy 10+ of the best cryptos to invest in Robinhood.

When buying any of these assets on Robinhood, you won’t be charged a trading fee. The broker doesn’t even charge a commission for your trades. This, according to Robinhood, ensures you get more cryptos than when trading assets on other exchanges. We must also add that Robinhood supports fractional investing and will let you buy Bitcoin for as little as $1.

But Robinhood isn’t just fee-free. It is also one of the best crypto exchanges for beginners. It has a quick and straightforward account opening process. Its trading platform is also easily navigable and the crypto-buying process is straightforward.

Equally important, Robinhood is a safe crypto exchange. It requires you to come up with a unique and strong password when creating a trader account. It also supports multi-factor authentication. Further, Robinhood provides all its platform users with a free Web 3 wallet for holding their crypto. It also holds more than 90% of client assets in an offline vault while insuring the remaining 2%. Your cash deposits into Robinhood are also insured with the FDIC – up to $250,000.

Is Crypto Investing Legal in Georgia

Yes, crypto investing is legal in the State of Georgia. It is perfectly legal to own and trade digital assets in the State. In fact, the state has proposed several crypto-friendly bills. These started with the proposal for a bill that would make it possible for Georgia residents to pay state taxes with Bitcoin. The most popular yet controversial crypto bill passed in the State, however, was passed in February 2022. This introduces tax breaks to crypto miners who use less energy-intensive methods.

Crypto Taxes in Georgia

Georgia is one of the few states in the US that do not levy tax on your profits from crypto investing. You will only have to pay the federal capital gains tax. The rate falls within the 0% to 15% range, depending on your tax bracket.

Practical Tips for Buying Cryptocurrency in Georgia

If you are considering investing in cryptos today, there are a few things you need to know about the fast-growing industry. Below, we share top tips that every crypto investor needs to know.

• Learn to secure your digital assets: The unregulated nature of the crypto industry has made it a breeding ground for scams and other illegalities. In 2023 alone, for example, crypto traders and investors lost as much as $2 Billion to scammers. Learn about these scams, how they work, and how to avoid them.
• Prepare for volatility: The best way to prepare for volatility is inversing only what you can afford to lose. Understand that volatility and the crypto industry go hand in hand. It is not uncommon for the coin to crash by double-digit percentages in a matter of hours. It can even lose as much as 99% of its value in a couple of months.
• Research about coins before buying: Do not just buy a crypto asset because your favourite influencer said it will be 100X. Avoid FOMO and do your own research before investing in any digital asset.

How to Buy Cryptocurrency in Georgia – Step-by-Step Beginners Guide

In this section, we walk you through the process of buying cryptocurrencies on the all-popular eToro exchange.

Step 1: Register a crypto trader account on eToro

Start by creating a crypto trader account on eToro.US. It is simple. Hit the “Join Now” button on the eToro website or mobile trading app. Complete the registration form that pops up here. It will only ask for basic personal information like name, address, and phone number. It will also ask for your trading experience and income sources. You will also need to come up with a unique username and strong password for this account.

Step 2: Verify your identity

The registration process on eToro is only complete after you have verified your identity. Simply upload a photo of your government-issued ID – such as a passport or driver’s license. eToro will notify you via email of the account approval.

Step 3: Deposit funds

Log in to the approved trader account and hit the “Deposit Funds” icon on your user dashboard. A funding tab will pop up, indicating all the payment methods available to you. Choose one and follow the prompts to deposit at least $10 into eToro.

Step 4: Identify the best crypto to buy

Once the payment is reflected in your account, hit the “Discover” tab on the user dashboard. This reveals all the financial assets supported on eToro. Choose “Cryptos” and from the list of supported crypto assets, select the best future crypto to buy.

Step 5: Buy cryptocurrency

Hit the “BUY” option against digital assets. A trading tab will pop up. Use it to customize this trade by indicating how much you intend to invest in the altcoin. Then, hit the “Open Trade” button to execute.

Investments are subject to market risk, including the possible loss of principal. Virtual currencies are highly volatile. Your capital is at risk.

Step 6: Set up the eToro Money mobile wallet app

The private keys for the tokens you just purchased will be deposited into the exchange-provided web wallet. This doesn’t support inbound or outbound crypto transfers to third-party exchanges or wallets. To move these funds, you first need to download and activate the eToro Money mobile wallet app.

Simply download the app and use the credentials created in Step 1 above to log in. Link the trading account with the wallet account and transfer funds to the latter. You will be charged a 0.5% crypto transfer fee (capped at $50). From here, you can transfer your crypto to any third-party exchange or wallet globally.

How to Sell Cryptocurrency

In this section, we will walk you through the process of selling crypto tokens on eToro.

• Step 1: Log back into the eToro trading account.
• Step 2: Hit the “Portfolio” icon on your user dashboard to reveal all your open crypto trades.
• Step 3: Identify the altcoin to sell and choose the “Close” trade option.
• Step 4: Indicate whether you want to sell a portion of coins or the entire position and hit “close” to execute.

Note: The cash equivalent of the digital currency you just sold will be immediately deposited into your account. Use it to buy top trending cryptos like Solana or Ripple or simply withdraw it.

Conclusion – How to Buy Cryptocurrency in Georgia Today

There goes everything you need to know about how to buy cryptocurrency in Georgia today. We started by introducing you to the best crypto exchanges and trading platforms in the State of Georgia and looked at the factors that help these trading platforms stand out and highlighted their biggest drawbacks. We also shared tips for buying cryptos in Georgia and discussed crypto regulation and taxation.

Want to start buying cryptocurrencies? Follow the step-by-step guide to buying digital assets on eToro that we have shared above.

Investments are subject to market risk, including the possible loss of principal. Virtual currencies are highly volatile. Your capital is at risk.

More guides on Crypto2Community

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• How to Buy Cryptocurrency in Illinois
• How to Buy Cryptocurrency in Maryland
• How to Buy Cryptocurrency in Hawaii
• How to Buy Cryptocurrency in California
• Buy Cryptocurrency in New Jersey
• How to Buy Cryptocurrency in North Carolina
• How to Buy Cryptocurrency in Colorado
• How to Buy Cryptocurrency in New York
• How to Buy Cryptocurrency in Washington
• How to Buy Cryptocurrency in Connecticut
• How to Buy Cryptocurrency in Delaware
• How to Buy Cryptocurrency in Idaho
• How to Buy Cryptocurrency in Indiana
• How to Buy Cryptocurrency in Kansas
• How to Buy Cryptocurrency in Iowa
• How to Buy Cryptocurrency in Louisiana
• How to Buy Cryptocurrency in Kentucky
• How to Buy Cryptocurrency in Arizona

References:

• https://cointelegraph.com/news/texas-home-nearly-30-percent-bitcoin-hash-rate-foundry
• https://cointelegraph.com/news/coinbase-holds-5-percent-of-bitcoin-data
• https://www.cnn.com/2021/04/14/investing/coinbase-stock-direct-listing/index.html
• https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-tests-70k-while-crypto-community-tongue-lashes-coinbase-after-third-crash-202403082300
• https://www.cnbc.com/2024/02/09/ny-attorney-general-expands-crypto-lawsuit-sees-3-billion-fraud-.html
• https://www.coindesk.com/markets/2015/01/05/bitstamp-claims-5-million-lost-in-hot-wallet-hack/
• https://www.coindesk.com/policy/2022/02/18/state-lawmakers-in-illinois-georgia-propose-tax-incentives-for-bitcoin-miners/

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Author: Wajeeh Khan

Wajeeh Khan is a financial researcher and writer with 7 years of experience. He has immense exposure to a range of financial assets, including stock, cryptocurrencies and forex - and is particularly well-versed in asset valuation, analysis, and portfolio management. Since 2016, Khan has worked with notable online platforms within financial journalism, including Invezz, Trading-Education, Dog of Wall Street, and News Break. All in all, he has written, editted, and published over 7,000 articles, guides, and market insight. Online casinos started as a hobby for Khan in 2018. But in only two years, it had already become another niche that he started actively researching. Over the past three years, he has written a diversified set of content around gambling for clients from all over the world. Academically, Khan has a Bachelor's in Economics and a Master's degree in Finance. He's also completed a bunch of courses on digital journalism and financial markets at large.

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