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

The Sunflower State ranks highly among the crypto-friendliest states in the country. This explains why tens of the best crypto exchanges in the US extend their services to Kansas residents. In this guide, we will provide you with an overview of what our analysts consider the best places to buy cryptocurrency in Kansas state.

We also discuss crypto regulation in the state and tell you whether digital assets are taxed here. We also share tips for successful crypto investing.

Read on.

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

Here is a quick 4-step guide that teaches you how to buy cryptocurrency in Kansas via an SEC-regulated crypto brokerage: eToro. The process is straightforward and takes no more than 10 minutes. Plus, you can start buying Bitcoins and the best altcoins on eToro for as little as $10.

• Step 1:  Create a free trader account – Hit the “Join Now” button on the eToro website and complete the registration form that that pops up here. This form asks for your basic personal details and inquires about your trading experience and income sources.
• Step 2: Deposit funds – Deposit at least $10 into the approved eToro account. Some of the payment methods that you can use include credit cards, debit cards, bank transfers, ACH checks, and eWallets like PayPal.
• Step 3: Identify the best crypto to buy – eToro exposes you to 20+ of the best cryptos to buy in the US. Identify the coin that appeals the most to you on this list.
• Step 4: Buy cryptocurrencies – Hit the “BUY” option against your preferred crypto and a trading tab will pop up. Use it to customize this investment.

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

We will expound on this and provide you with a detailed crypto-buying process on eToro later on in this guide. We will also share tips that can help make your crypto investing journey more successful. But first, we introduce you to what the majority of investors and analysts consider the best crypto exchanges in Kansas. We begin by taking a look at cryptos, which the majority of Kansans have been stacking.

The Most Popular Cryptos to Buy in Kansas

The lack of comprehensive data on crypto ownership and usage makes it impossible to accurately tell what cryptos are the most popular. We, however, acknowledge that in crypto friendly states like Florida, national trends will often mirror the regional trends. That said, Bitcoin remains the most popular and widely traded digital asset nationally, including in Kansas.

Other cryptocurrencies whose popularity and usage has been gaining traction in Kansas include:

• Ethereum (ETH)
• Dogecoin (DOGE)
• Solana (SOL)
• Shiba Inu (SHIB)
• Pepe (PEPE)
• Toncoin (TON)
• Ripple (XRP)
• Litecoin (LTC)
• Bitcoin Cash (BCH)

Where to Buy Cryptocurrency in Kansas 

While diving into the world of cryptocurrencies can be exciting, choosing the right platform to buy and sell can be overwhelming. With numerous cryptocurrency exchanges available in the US, finding the perfect fit for your needs is crucial. Key factors to consider when selecting a top exchange include security measures, fee structures, available cryptocurrencies, user interface, and regulatory compliance.

Below, we provide an overview of the best places to buy digital assets in Kansas.

1. eToro – Overall Best Crypto Exchange in Kansas

eToro.US has been offering crypto trading services in Kansas since 2029. It is also one of the few crypto trading platforms that applied for and received a money transmitter license in Kansas. Federally, eToro is also regulated by the SEC and is a member of FINRA. In addition to its appreciation for regulation, it also ranks highly among the most reputable crypto trading platforms around.

Among the factors making eToro the best places to buy cryptocurrency in Kansas are its deep liquidity. Its quick client onboarding, straightforward crypto buying processes, and neat interface have also made it easy to use. Plus, it is transparent with the trading fees, which are currently fixed at 1% the trade volume.

Today, eToro lists 20+ of the most popular cryptos. Here, you will get to interact with the most sustainable cryptos, like Bitcoin and Ethereum, that appeal to beginners and long-term investors. You will also find the most volatile cryptos like Shiba Inu, Dogecoin, and ApeCoin that appeal to active traders.

eToro also runs regular promotions and attractive offers. These include subsidizing the already discounted crypto trading fees. At the time of writing, it is running a limited-time offer of $10 bonus for new traders who complete registration and buy cryptos of at least $10.

Before registering with eToro, though, understand that it doesn’t accept crypto deposits. You can buy cryptos with fiat and it accepts all the popular cash deposit methods. Investors can also transfer cryptos purchased on eToro to third-party exchanges and wallets via the eToro Money Wallet app.

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

2. Binance.US – The Best Crypto Exchange for Active Traders in Kansas

Binance.US exposes you to 150+ cryptocurrencies and 400+ crypto pairs. It is also deeply liquid and maintains some of the fastest transaction processing speeds. The exchange is also multi-platform, with one of the best crypto trading mobile apps and a web trading platform. These integrate 100+ of the most advanced trading tools – from technical analysis tools to charting and drawing tools.

These exchange then charges high trading fees. It embraces a volume-based maker/taker fee model with the trader fee ranging between 0% and 0.45%. If you settle this fee with BNB coins, you will receive a 5% fee discount. You may also trade some BTC pairs fee-free. These include BTC/USDT, BTC/USDC, and BTC/BUSD – collectively referred to as Tier 0 crypto pairs.

These, and such other factors as low trade minimums make Binance the best crypto exchange for active traders. Note, however, Kansas residents cannot buy cryptos on Binance.US with USD.

Binance.US hopes to appeal to other classes of crypto investors, including beginners and institutional investors. To achieve this, it has integrated such tools as crypto staking that let you earn double-digit interest on popular cryptos. It also offers crypto custody services in ultra-secure vaults that hold 95%+ of your private keys offline.

You would also want to use Binance.US because of its prompt customer support team. The exchange is also safe and has never been hacked. In addition to buying and selling, the exchange offers crypto conversion services and currently supports 5660+ convert trade pairs.

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

3. Coinbase – Buy Cryptos on the Most Trusted Crypto Exchanges in Kansas

Established in 2012, Coinbase has been around for more than a decade. During this time, it has built a solid reputation for reliability and safety. Today, it provides its platform users with three crypto custody services. First is the non-custodial Coinbase wallet app. The second is the all-popular Coinbase web wallet. This holds 98% of your assets offline while insuring the remaining 2%.

Coinbase also provides institutional crypto custody services to institutional investors. But Coinbase safety extends beyond providing offline vaults. The exchange has even helped its platform users and other crypto exchanges recover stolen funds by freezing funds deposited here. It has also deployed effective security measures to keep your account safe, including two-factor-authentication.

In addition to safety, Coinbase exposes you to multiple crypto-investing methods. You, for instance, can buy cryptos instantly with cards on Coinbase. You can also convert cryptos on the exchange. Further, you can actively trade coins or invest in the best cryptos to buy for beginners. The exchange even offered margined crypto trading with leverage of more than 25x.

Coinbase is also a multi-platform exchange with three unique trading platforms. First is the Coinbase mobile trading app that allows you to place or monitor your trades while on the move. You may also choose to use the Coinbase web trading platform. But if you are looking for more trading pairs, more competitive fees, and access to more advanced trading and analysis tools, use the Coinbase PRO app.

Other factors making Coinbase the best include its deep liquidity. It also supports all the popular deposit methods, including cryptos. You can also stake cryptos on Coinbase. It also has a highly responsive support team available on phone and live chat. Plus, it is a highly regulated exchange that is also listed with NASDAQ.

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

4. CEX.IO – The Best Place to Buy Cryptos Instantly in Kansas 

One of the factors helping Cex.io rank among the top altcoin exchanges to buy cryptococurrency in Kansas is its instant buy feature. Here, you can buy Bitcoins and other cryptos instantly with credit cards and debit cards. Other supported deposit methods include bank wire transfers, eWallets, and cryptos. And the exchange doesn’t maintain a minimum trade limit.

Unlike the likes of Binance and BitStamp that are primarily dedicated to expert traders, Cex.io is beginner friendlier. It doesn’t integrate as many advanced crypto trading and analysis tools. It, however, is fast in processing deposits and crypto transactions. And though it supports less number of cryptos, 30+, it is also decently liquid.

Among the top factors helping Cex.io stand out in Kansas include its quick client account creation process. We also liked that it is multi-platform and available on the web trader and on a crypto trading app. Not to forget that it is regulated and safe.

In addition to trading, the exchange presents you with two passive income-generating opportunities. For starters, you can stake up to 10 popular digital assets on Cex.io and earn up to 15% annually. Some of the coins that you can stake here include Solana, Cosmos, Cardano, and Avalanche. Secondly, you can earn through savings. Some digital coins, like USDT, will also earn you up to 4% interest annually.

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

5. Gemini – Popular Exchange with a Wide Range of Cryptos in Kansas

Upon registering a trader account with Gemini, you will be exposed to a crypto basket of more than 70 coins. Here, long-term investors have access to tens of the most undervalued coins, while newbies get to interact with the most beginner-friendly cryptos. You also get to interact with the best DeFi coins, new coins, and the best metaverse cryptos.

You only need $2 to start buying cryptos on Gemini. And you can choose any of the four trading platforms availed by the renowned exchange. These include the Gemini crypto trading mobile app and the web trader that appeal to beginner investors.

Pro traders can, on the other hand, use Active Trader. This features more advanced trading, analysis, and risk-management tools. They also have the eOTC platform, which is specially designed to suit institutional investors and high rollers.

You will also want to buy and sell cryptos on Gemini because it is a safe exchange. Though the exchange was fined $37 Million in New York for unsafe and unsound practices, none of its clients lost money. It has also put in place multiple security measures around its systems. These include enabling two-factor authentication for client accounts and storing 90%+ of client assets offline.

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

6. Uphold – The Best Multi-Asset Trading Platform in Kansas

Three key factors informed our decision to feature Uphold on this list. First, it is one of a handful of multi-asset trading platforms operating in Kansas. Secondly, it is highly reliable, reputable, and has been around for more than a decade. More importantly, we liked its anything-to-anything trading model. This lets you buy any of the assets supported on the platform with any other supported asset.

We also liked that it gives you access to more digital assets than any other crypto exchange on this list. Here, you will get to interact with 260+ of the best cryptos to buy in the US. These include the most valuable coins, like Bitcoins, as well as relatively new cryptos. You only need $10 to start investing cryptos on Uphold and the exchange supports all the popular payment methods.

If you are just getting started with crypto investing, you will appreciate Uphold’s ease of use. Expert traders also appreciate the platform’s fast transaction processing speeds, deep liquidity, and support for the most volatile cryptos. Institutional investors, on the other hand, are presented with an OTC platform that facilitates high-volume crypto trades.

There are multiple other factors that make Uphold a good crypto trading platform. These include its commitment to the safety of client assets, transparency, and that it is a multi-platform exchange.

Note, however, that Uphold maintains comparatively high trading fees. You, for instance, will pay between 1.4%-1.6% when trading Bitcoins or Ethereum. The trading fee for the rest of the virtual currencies ranges between 1.9% and 2.95%.

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 Available in Kansas

Yes, crypto investing is available in Kansas. The state has embraced a permissive stance towards cryptocurrencies and crypto investing compared to other states. It has created a favorable business environment that allows crypto exchanges and investors to thrive. And though it is yet to pass any crypto regulation law, it has offered a broad definition for money transmission.

The Kansas Office of the State Bank Commissioner has also issued clear guidance on regulation crypto business. It states that an individual or business doesn’t need to obtain a money transmitter license if they only facilitate transmission of cryptos. This implies that an exchange is only required to apply for a license if there is “involvement of sovereign currency in a transaction.”

The only bill passed in Kansas that relates to crypto technology is the HB 2029 that was signed into law in April 2019. It allows distributed electronic networks and databases, commonly referred to as blockchains, to be in capturing and keeping business records.

Crypto Taxes in Kansas

Kansas, like tens of other crypto-friendly states in the country, will impose taxes on crypto gains/profits. Here, you will be charged a capital gains tax if you make a profit after selling your crypto investment. On the upside, you can also use losses made from selling cryptos at a net loss to reduce your tax liability. You also get to pay income tax on wages/salaries made in crypto, as well as sales tax for trades settled with crypto.

Practical Tips for Buying Bitcoin and Top Cryptos in Kansas

Successful investing extends beyond identifying the best crypto exchange and buying the most undervalued crypto. While the two come in handy, there are several other tips and tricks that help you succeed as a crypto investor. We look at the top six below:

Invest for the long-term

Adopt a long-term investment strategy, especially if you are inexperienced. Since their inception, cryptos have maintained an overall uptrending price action, which translates to net positive gains for all long-term investors. You will also do well if you combine this investing strategy with dollar cost averaging.

Research cryptos thoroughly

You will also need to learn how to properly vet any coin you intend to invest in. Carefully examine its sustainability, adoption, community support, and possible real-world use cases. You can also use sites like CoinMarketCap or CoinLore to learn about its price action, tokenomics, trade volumes, market cap, and market sentiments. Only invest in coins with the strongest fundamentals.

Diversify your portfolio

Consider adding different types of virtual assets to your crypto basket. In addition to the top 10 cryptos, you may also consider adding a few meme coins. You may also want to add NFTs, promising DeFi coins, popular metaverse coins, and even the most sought-after tokenized assets.

Watch out for scams

To succeed as a trader and investor, you need to learn about the different scams. Learn how they work and how to avoid falling to their traps. The most common today include rug pulls, pyramid schemes, phishing, giveaways, and pig butchering crypto scams. Further keep an eye on crypto industry news to learn of new scams and how to avoid them.

Master risk management

Understand that cryptos have not just been the most profitable investment of the last decade. They have also been one of the most volatile, which makes crypto investing extremely risky. To succeed here, you need to deploy as many risk management tools as possible. These start with investing in a reliable hardware wallet for investors. Traders need to set stop loss levels and not misuse leverage.

Take advantage of tax loss harvesting

Tax loss harvesting is a strategy that comes in handy in reducing your tax liability. It involves liquidating failed crypto investments to offset capital gains tax owed on profit made from crypto investments.

How to Buy Cryptocurrency in Kansas Walkthrough

Here’s the step-by-step guide on how to buy cryptocurrency in Kansas on eToro.

Step 1: Create a Crypto Account

On your browser, open the official eToro.US website or download the eToro crypto trading app. Click on the “Join Now” button on either platform and complete the registration form that pops up here. The form asks for such details as your name, email address, phone number, country of residence, income sources, and trading experience.

Step 2: Verify your Identity

The registration process on eToro is only considered complete. Therefore, you will be required to upload a photo of a government-issued identification document, such as your passport or driver’s license. You will also need to create a unique name and strong password for your account.

Step 3: Deposit Funds

You will receive an email notifying you of your account approval. Log in to this account and on your user dashboard, click on the “Deposit” funds icon. On the funding tab that appears, choose one of the payment methods that are available to you. Follow the prompts to deposit at least $10 into eToro.

Step 4: Identify the Best Cryptos to Buy

Hit the “Discover” icon to bring up a list of the financial assets supported by eToro. Select the “Cryptos” option to bring up the digital assets supported on your platform. Identify the crypto you wish to invest in and hit the “BUY” icon.

Step 5: Start Buying Crypto Assets

A trading tab will appear. Use it to customize your crypto trade by indicating how much you intend to invest in the digital asset. Then, 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.

Note: You can only transfer the crypto bought on eToro via the eToro Money Wallet App. Download this digital wallet on Play Store or App Store and link it with your crypto trading account. Move the coins to the wallet from the trader account for transfer out to a third party wallet or exchange. Remember, these coins cannot be transferred back to your account as eToro doesn’t accept crypto deposits.

How to Sell Cryptos in Kansas

Below, we walk you through the step-by-step guide to selling cryptos that you purchased on eToro.

• Step 1: Start by logging back into your eToro trader account.
• Step 2: On your user dashboard, click on the “Portfolio” icon. This brings up a window showing all the digital assets you have purchased on eToro.
• Step 3: Identify the crypto you wish to sell and choose the “SELL” option against it.
• Step 4: A trading tab will pop up, and you will need to use it to customize this trade. Indicate whether you wish to sell a portion of the coin or close the entire position. Execute the sale by hitting the “Close Trade” button.

Note: eToro will instantly deposit the cash equivalent of the crypto you just sold into your cash account. You may use this balance to buy the best future cryptos on eToro. You can also choose to withdraw the funds.

Conclusion – How to Buy Cryptocurrency in Kansas

Kansas has created a healthy environment for crypto investing. However, to succeed as an investor, you need to learn three things. First, you need to learn how to find the best crypto exchange for you – mostly based on your investing goal and strategy. You also need to learn how to buy cryptos. Lastly, you need to embrace tips and tricks that make your investing journey more successful.

Want to start your investing journey? Follow the step-by-step guide to buying cryptos on eToro that we have outlined above.

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 Iowa
• How to Buy Cryptocurrency in Louisiana

References:

1. 1. https://www.coinbase.com/blog/coinbase-announces-support-for-asset-recovery-on-bnb-smart-chain-and-polygon
   2. https://www.osbckansas.org/wp-content/uploads/mt2014_01_virtual_currency.pdf
   3. https://www.kslegislature.org/li_2020/b2019_20/measures/documents/hb2039_enrolled.pdf
   4. https://www.investopedia.com/articles/taxes/08/tax-loss-harvesting.asp

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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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