![]() ![]() You can minimize that risk by conducting all business on the platform, making use of its escrow services, and only trading with users who have a good reputation.Īs of March 2021, Binance is not available to any customers living in Hawaii. Similar to craigslist, this does introduce a degree of risk. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. This makes them more private than exchanges. These ATMs allow users to instantly purchase the cryptocurrency using cash, and most of them only require a telephone number for verification, so long as you aren’t buying a lot of Bitcoin or other digital assets. Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet.Īnother way to buy Bitcoins and altcoins in Hawaii is through automated teller machines (ATMs). Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.Īdditionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. There are several exchanges offering Bitcoin in Hawaii, and you can easily select one based on your requirements and preferences using our guide. You can use any of the exchanges outlined above. Residents of Hawaii aren’t able to use all of the same exchanges that the rest of America is privileged with, but they do have options. There are a handful of ways for you to trade, just beware of fees and make secure trades. ![]() What this all means is that, while there is hope, if you’re a resident of Hawaii, you might have a few more struggles than the average Bitcoiner, but that shouldn’t stop from getting in on the action. The program is scheduled to conclude on June 30, 2022, and it will be interesting to see what, if any, laws change in Hawaii as a result of the program. ![]() As of February 2022, approximately 61,000 local investors with $1 billion in transactions have been active during this pilot program. In June 2021, additional companies were admitted into DCIL bringing a total of 15 companies in the program. The hope was that this would show regulators they do not need to stifle the growth of these firms in their state. The pilot program, called Digital Currency Innovation Lab (DCIL), was created to see how things operated in the state. However, in August of 2020, the Hawaii Division of Financial Institutions granted a special license-free status to 12 firms. To no avail, news bills and efforts have all stalled in the Hawaiian House and Senate as of October 2019. Hawaii instigated a draconian money transmitter license law for exchangesĬoinbase, one of the biggest exchanges, was discouraged by the law’s impracticality - calling the regulation “untenable.”Įxchanges are still seeking a better deal with legislators to pass fairer laws regarding digital currency. ![]()
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