How to Buy Cryptocurrency in Arizona in 2024 – The Ultimate Beginners Guide

Did you know that Arizona was the first state in the US to exempt crypto airdrops from state tax? Or that its state agencies will start accepting crypto as a form of payment starting January 2025. The Grand Canyon state has positioned itself as one of the most crypto-forward jurisdictions in the Southwest.

In this guide, we will discuss everything cryptos in The Grand Canyon state  with a keen interest on where and how to buy cryptocurrency in the Arizona state. We will also review all the crypto exchanges in the state and walk you through the crypto buying process on one of the top altcoin exchanges.

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

The quick four-step guide below teaches you how to buy cryptocurrency in Arizona using the eToro brokerage, a regulated crypto trading and platform. The trading site is beginner-friendly, lists the hottest cryptos, and supports fractional investing.

• Step 1: Create a crypto trading account – Hit the “Join Now” button on the eToro.US website or mobile trading app. Complete the registration process and come up with unique login credentials for this account.
• Step 2: Deposit funds – Before you can start buying and selling cryptos on eToro, you need to deposit at least $10. Here, the supported payment methods include credit cards, debit cards, PayPal, ACH transfer, bank wire transfer, or even Google Pay and Apple Pay.
• Step 3: Identify the best crypto to buy – eToro is home to 20+ of the best cryptos to buy in the US. From this list, identify the coin you want to add to your investment portfolio and hit the “BUY” option.
• Step 4: Buy crypto – A trading tab will pop up. Use it to customize your crypto investment by indicating how much you wish to spend on the digital asset. Hit the “Open Trade” button to execute the purchase.

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

We will provide you with a more detailed process of buying cryptos on eToro later on in this article. Before that, let us identify the most popular digital assets in the Grand Canyon state. Next, we discuss where to buy these coins by taking a closer look at all the best crypto exchanges operating in Arizona.

Most Popular Cryptocurrencies to Buy in Arizona

As in the case in most other parts of the country, Bitcoin is by far the most traded and the most searched crypto in Arizona. It is listed by all the crypto exchanges and platforms operating here. It also dominates crypto discussions on local mainstream and social media. Its adoption as a payment method by individuals, businesses, and even the state has also been on an uptrend.

But BTC isn’t the only crypto pouring into digital wallets across Arizona. Others include:

• Ethereum (ETH)
• Dogecoin (DOGE)
• Tron (TRX)
• Pepe (PEPE)
• Solana (SOL)
• Ripple (XRP)
• Toncoin (TON)
• Sui (SUI)
• Bonk (BONK)

Where to Buy Cryptocurrency in Arizona

Among the factors making Arizona the dream home for crypto traders and investors is that it is home to all the top crypto exchanges and brokerages. Here, you will interact with trading platforms that appeal to beginners, pro traders, and even institutional investors. And they are not only easy to use but also give you access to all the next cryptos to explode.

Below, we look at what our analysts consider the best crypto exchanges and trading platforms in Arizona.

1. eToro – Overall Best Place to Buy Cryptos in Arizona

eToro is overall the best trading platform to buy cryptocurrency in Arizona today because it appeals to all types of investors. It, for example, is easy to use, supports fractional investing, and has low trade minimums. All these help endear it to beginners.

It is also feature-rich, deeply liquid, and processes transactions fast, which draws in pro traders. Its safety, fixed trading fees, and support for staking, on the other hand, appeal to institutional investors.

In addition to these, eToro is a highly reputable trading platform. Over the years, it has cultivated a solid reputation around reliability and the security of client assets. Not only has the exchange never been hacked, but it has also maintained one of the highest uptimes for a crypto website. You will also like the fact that it supports self-custody and even provides users with a free mobile wallet, the eToro Money wallet app.

The SEC-regulated brokerage also makes it possible for investors to trade or monitor their portfolio while on the move. eToro provides these individuals with one of the best crypto trading mobile apps. It is easy to use and available for both iPhone and Android users. It also integrates all the important trading and research tools found on the eToro web trading platform.

eToro is also popular in Arizona because it supports copy trading and social investing. By copying the trades of popular investors, beginners using eToro get to earn passively. The popular investors also receive a commission from eToro for letting others copy their trades. The social investing platform, on the other hand, allows for seamless interaction between all eToro platform users.

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

2. Crypto.com – Buy Cryptocurrency in Arizona With a Large Crypto Library

One of Crypto.com’s biggest selling points is that it supports 350+ cryptocurrencies. It also exposes you to thousands of the best DeFi coins, the web3 universe, and dApps with its Crypto.com DeFi Wallet. And you can start investing in these coins with as little as $1. Not forgetting that it supports many deposit methods, from ACH checks to bank wire, PayPal, Google Pay, and Apple Pay. It also doesn’t charge a deposit processing fee.

You would also want to buy cryptocurrency in Arizona via crypto.com because of its low fees. For example, when selling Bitcoin and other cryptos here, you do not pay maker fees. And when buying, you will only pay a competitive taker fee of between 0.485% and 0.035%. The fee is determined by your 30-trade volume and the amount of staked crypto, which earns you a discount of between 3% and 30%.

We also featured Crypto.com here because it has positioned itself as one of the best exchanges for active trades. It achieved this by integrating 100+ trading and analytical tools into the trading platform. It also maintains fast transaction processing speeds and supports derivative trading. These are the CFTC-approved strike options as well as the UpDown options.

You may also want to use Crypto.com because it supports passive earning. Today, you can earn up to 8% when you stake popular stablecoins, like the USDT, on the exchange. You also stand to earn as much as 6% when you stake 20+ of the most popular cryptos, including Bitcoin. Not forgetting that you earn up to 5% in cashback when you pay with the Crypto.com visa card.

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

3. Coinbase – The Best Crypto Exchange for Beginners in Arizona

At least four key factors help make Coinbase the best crypto exchange for beginners in the US. First, it has an easy and straightforward client onboarding process. Secondly, it not only teaches newbies how to invest in cryptos but also provides them with a quick one-click buy option. It even makes it possible to buy Bitcoin and other cryptos instantly using PayPal or cards.

Thirdly, it gives the platform users access to 100+ of the best altcoins to buy right now. Here, you interact with top trending cryptos like Bitcoin and the most undervalued cryptos like Ripple. The exchange is also quick to list new coins, allowing you to potentially invest in the next 100x crypto.

Lastly, Coinbase is beginner-friendly because it provides users with safe digital wallets. Here, you have the option of choosing the exchange-based wallet that holds as much as 98% of your coins offline while insuring the remaining 2%. But if you prefer self-custody, you can use the Coinbase wallet app, available in both iOS and Android versions.

Further, Coinbase also integrates several factors that endear it to professionals and institutional investors. The pro traders, for example, have access to the Coinbase PRO trading platform. Here, they are exposed to more crypto pairs and get to enjoy low fees as well as faster transaction speeds. The exchange also has an OTC platform, is deeply liquid, and has a dedicated trading desk. These help draw in institutional investors.

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

4. Binance.US – The Best Crypto Exchange in Arizona for Low Fees

When you buy Bitcoin with select cryptos or stablecoins like USDT on Binance.US, you won’t be charged a trading fee.  You also get to enjoy highly competitive fees when trading all other cryptos on the platform. Here, you will only be charged a volume-based maker/taker fee of between 0% and 0.57%. You will also enjoy a 5% discount if you settle this fee using BNB coins.

In addition to low fees, Binance.US exposes you to 150+ coins and hundreds of crypto trading pairs. Beginners can buy these instantly using such supported payment methods as cards and bank transfers. Pro traders, on the other hand, get access to 100+ advanced trading, analysis, and risk-management tools.

Binance.US also claims to be the leading crypto exchange when it comes to passive investing, particularly through staking. This claim is backed by the fact that it supports staking for 10+ of the most popular cryptos, including SOL, ADA, and ETH. It also pays higher interest on staking than any of the exchanges we have reviewed in this article, up to 24.80% APY.

In addition to all these, Binance.US has integrated an OTC trading platform. This is dedicated to high-volume and institutional traders who are looking to trade instantly at the most competitive rates. It also serves institutions by connecting them to the digital asset economy and also providing them with downloadable historical market data.

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

5. Uphold – Best Multi-Asset Trading Platform in Arizona

Uphold is one of the best multi-asset crypto trading platforms in Arizona today. Here, you will have access to a wholesome basket of 300+ cryptos. Uphold lets you invest in a variety of digital assets, from the best cryptos under $1 to niche altcoins like the top Arbitrum network tokens. In addition to the digital assets, Uphold lets you diversify your portfolio by investing in stocks, commodities, and precious metals.

The best part of using Uphold is that you only need $1 to start buying cryptos here. And even when you are out of cash, it lets you buy cryptos with any other asset in your portfolio. This implies that you can simply buy Bitcoin with Gold or exchange Ethereum for oil on the platform. And you do not even need to convert the asset to cash first. It is called the anything-to-anything trading model.

Did you even know that Uphold started as a crypto custody services platform known as BitReserve? We appreciate that though it may have expanded its services, it never deviated from its main mission of keeping client assets safe. This explains why the platform has never been hacked or lost client funds since its establishment a decade ago. It was also among the earliest crypto platforms to publish its audited crypto reserves.

In addition to these, Uphold makes it here because of its lucrative passive investing program. Your idle cash of more than $1,000 will, for example, earn interest of 4% APY. Staking cryptos on Uphold will, on the other hand, earn you interest of up to 14% annually, with no fixed lockups. The exchange is also multi-platform and operates one of the most beginner-friendly crypto trading apps.

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

Is Crypto Investing Legal in Arizona

Yes, you can legally buy cryptocurrencies in Arizona. Individuals and businesses are also free to receive and process cryptos as payment for goods and services. Several Bitcoin mining companies have also been granted licenses to operate in the state. These include Greenfire Group, which is one of the largest Bitcoin mining companies in North America.

The state has also passed several laws and regulations that are friendly to cryptos and blockchain technology. The most impactful would have to be SB 1128 of 2024, which will take effect on 1st January 2025. This authorizes the Arizona Department of Revenue (ADOR) to enter into agreements with a crypto service provider to accept crypto as a payment method.

In July 2022, Arizona also became the first state in the US to legally exempt crypto airdrops from state taxable income. This tax code clarification came into effect with the signing of HB 2204 by Governor Doug Ducey. The law further clarifies that gas fees are also tax deductible. Note, however, that airdrops are still considered taxable income at the federal level.

The state has also passed legislation that allocated funding to blockchain technology research. In 2019, for instance, the governor signed the General Appropriations Act known as HB 2747. This bill allocated $2.5 Million to educational institutions and other bodies within the state that specialize in blockchain research.

Crypto Taxes in Arizona

We have already mentioned that such airdrops are tax-exempt and gas fees deductible. Other crypto incomes are, however, subject to state-level income tax at a fixed rate of 2.5%. Note that in addition to the state taxes, you also have to pay federal taxes on crypto income to the IRS.

Practical Tips for Buying Bitcoin and Top Cryptos in Arizona

You now know where to buy the best cryptos to invest in today. However, there is more to crypto trading than identifying a top crypto exchange and placing a buy order. In this section, we share practical investing tips that can help keep your cryptos safe and help grow your portfolio.

Avoid FOMO

Do not rush into buying the top trending coin because of the fear of missing out. Do your own research about each investment, and do not just follow the hype. There are numerous resources, including crypto data aggregation platforms like CoinLore, where you can learn valuable information about any crypto. Importantly, start by creating a crypto investing/trading strategy you can stick with.

Diversify your crypto portfolio

If you are looking to speed up the rate with which your investment grows, diversify your portfolio. Invest in not just the most sustainable cryptos but also the more volatile coins like Shiba Inu, Pepecoin, and Dogecoin. Note that meme coins, though riskier, have a higher ROI than the more established cryptos.

Learn how to leverage market trends

The crypto market is highly dynamic. There are different market cycles and trends, and mastering them can help you 10x or even +100x your portfolio. Leveraging these trends and cycles implies going hard on altcoins during the altcoin season and chasing joke currencies during the memecoin craze. It also implies going long on coins during the bull run and shorting them maximally during the bear market.

Learn how to avoid crypto scams

There are many bad actors in the crypto industry, and they are always devising new ways of stealing your cryptos. These scammers and hackers already stole more than $1.3 Billion in the first half of 2024. The most common scams include rug pulls, fake crypto websites and apps, phishing, face celebrity endorsements, and fraudulent ICOs. To keep your coins safe, learn about all these scams and how to avoid them.

Keep an eye on the news

Understand that the crypto market is highly sensitive to news. Therefore, follow global news, updates on regulations, and global politics. Trump’s win in the US, for example, sparked a massive crypto market rally that helped Bitcoin set a new ATH above $93k. Similar news like rate cuts by the FED or leadership changes in key crypto regulatory agencies like the SEC will also have a significant impact on crypto prices.

Don’t leave your coins in an exchange or wallet

We always ask our readers to invest in a reliable hardware wallet and not to leave their coins in their exchange. As proved by FTX’s misappropriation of user funds or the Mt. Gox exchange hack, these platforms aren’t infallible. Consider moving your coins off exchanges and hot wallets and holding them securely on a hardware wallet.

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

In this section, we detail the crypto-buying process on eToro in Arizona. We show you how to create a trader account, how to fund it, and how to buy Bitcoins and other cryptos on the exchange.

Step 1: Create a Crypto Trading Account

Open the official eToro.US website on your browser or download the eToro mobile trading app. Hit the “Join Now” button on either platform, and a registration form will pop up. It will ask for basic personal details such as your name, email address, physical address, phone number, income source, and trading experience. Then, key in these details and come up with a username and password for this account.

Step 2: Verify your Identity

The eToro registration process is only complete after you have verified your identity. This involves providing the exchange with a government-issued identification document such as a passport or driving license. Note that these documents must bear the names used to create the account.

Step 3: Deposit Finds

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

Step 4: Identify Top Crypto to Buy

After the funds are reflected in your account, hit the “Discover” icon to see all the cryptos supported on eToro. Here, you will find everything from the most promising cryptos like BTC and ETH to the most undervalued coins like XRP and ADA. Hit the ‘BUY’ option against the coin you wish to purchase.

Step 5: Buy Cryptocurrency

A trading tab will pop up. Use it to customize your investment by indicating how much you want to invest in the crypto. Execute this investment by hitting the “Open Trade” button.

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

Note: The private keys for the coins you just purchased will be deposited into the exchange-provided wallet. To transfer them to a hardware wallet or third-party storage, you first need to move them to the eToro Money wallet app. This transaction is subjected to a transfer fee of 0.5% (up to $50).

How to Sell Cryptos in Arizona

eToro has a quick and straightforward crypto-selling process. We break it down into four simple steps below.

• Step 1: Start by logging back into your eToro crypto trading account.
• Step 2: On your user dashboard, click on the “Portfolio” icon. This reveals all your open crypto trades.
• Step 3: From these open trades, identify the coin you wish to sell and choose the “Close” option.
• Step 4: The eToro trading tab will pop up. Use it to customize this investment by indicating whether to sell a portion of your coins or close the entire position. Hit the “Close” button to execute this trade.

Note: The cash equivalent of the crypto you just sold will be deposited into your eToro cash account. You may choose to withdraw this cash or use it to invest in some of the best future cryptos listed on the platform.

Conclusion: Buying Cryptocurrency in Arizona

Buying cryptos in Arizona has never been complicated. The state’s warm approach to cryptos has made it a top destination for all the top crypto exchanges in the world. These have then oversimplified the crypto investing process, allowing you to buy Bitcoins instantly and supporting multiple payment methods. They also have relatively low minimum deposit/trade limits and provide you with free digital wallets.

Want to start buying crypto Bitcoins and other cryptos right now in Arizona? Follow the step-by-step instructions for buying crypto on eToro that we have outlined hereinabove.

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

More States Buying guides on Crypto2Community

• How to Buy Cryptocurrency in New Jersey
• How to Buy Cryptocurrency in Nevada
• How to Buy Cryptocurrency in Maryland
• How to Buy Cryptocurrency in Illinois
• How to Buy Cryptocurrency in Hawaii
• How to Buy Cryptocurrency in Georgia
• How to Buy Cryptocurrency in California
• 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

References:

• https://www.greenfiregroupllc.com/
• https://www.azleg.gov/legtext/56leg/2R/summary/S.1128FICO.DOCX.htm
• https://www.taxbit.com/blogs/how-does-arizonas-new-crypto-law-impact-taxes-on-airdrops/
• https://www.azleg.gov/legtext/55leg/2R/bills/HB2204H.pdf
• https://freemanlaw.com/cryptocurrency/arizona/
• https://www.coinlore.com/
• https://www.cnbc.com/2024/07/09/hackers-stole-twice-as-much-crypto-in-the-first-half-of-2024.html
• https://www.theguardian.com/technology/2024/nov/13/bitcoin-share-price-btc

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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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