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How to buy crypto in New Jersey

Cryptocurrency is legal in the Garden state with few restrictions for residents.

Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.

You can buy cryptocurrency in New Jersey with little to no regulation. You’re required to use an exchange or platform that’s licensed to operate in the US, which leaves you plenty of options to choose from.

New Jersey appears to be setting up the framework to incentivize crypto-based entities to settle in the state.

How to buy crypto in New Jersey

Luckily for New Jerseyans, you’ve got many options when it comes to exchanges and financial services through which to invest in cryptocurrency. In other words, you don’t have to bend over backwards to find a decent exchange that suits your needs.

Step 1: Compare crypto exchanges

New Jersey allows multiple crypto exchanges to operate in the state, including popular platforms like Binance.US and Coinbase. Choose an exchange based on the coins you’d like to invest in, as well as its reputation, fees, user friendliness and customer support.

Creating an account with an exchange typically involves:

  • Creating a username and password
  • Verifying identity and completing know your customer (KYC) procedures
  • Connecting a digital wallet or using the exchange’s wallet
  • Depositing funds

Transaction fees and deposit methods available are also something to consider, as well as what digital wallet’s the platform supports. For example, not all exchanges allow you to link your bank account or buy coins with a debit or credit card.

Our top pick: Kraken Cryptocurrency Exchange

N/A
Minimum Deposit
261
Cryptocurrencies
6
Fiat Currencies
  • Established crypto exchange that's served customers for over a decade
  • Supports over 200 crypto assets
  • Provides resources for both beginner and advanced traders
  • Registered as a Money Service Business (MSB) and is FinCEN compliant
  • Offers futures contracts and margin for trades
  • Not available to residents of New York and Washington state
  • No longer offers its staking service to US residents

Kraken is an established cryptocurrency exchange that offers features for beginner and advanced crypto investors alike.

If you're new to crypto investing, Kraken's simple and intuitive user interface makes it easy for you to open an account and make your first crypto purchase. And Kraken's Learn center helps you better understand the complex terminology that surrounds crypto.

If you're a seasoned crypto investor, you'll benefit from using Kraken Pro — the exchange's advanced trading platform, which lets you trade over 200 crypto assets with low trading fees and a customizable trading interface. Kraken Pro also offers futures contracts as well as up to 5x leverage for trades.

Deposit Methods Bank transfer
Credit card
Cryptocurrency
Debit card
Apple Pay
Google Pay
SWIFT
ACH online banking
Deposit Fees ACH deposit - Fees vary ($10 minimum deposit)
Credit and debit card - Fees vary ($10 minimum deposit)
Apple Pay or Google Pay - Fees vary ($10 minimum deposit)
Crypto - Free
Withdrawal Fees FedWire withdrawal - $4-$35
Crypto - Fees vary depending on coin or token
Trading Fees Maker: 0-0.16%
Taker: 0.1-0.26%

Step 2: Compare digital wallets

A digital wallet is software designed to store, send and display digital assets.

Digital wallets require a seed phrase to log in — a series of words generated by your digital wallet that act as a master password.

Choose between a custodial wallet or a noncustodial wallet. A custodial wallet is one where a third party keeps track of your wallet’s seed phrase, and a noncustodial wallet is where you’re given control of how and where your passcodes are kept safe.

Digital wallets are a dime a dozen, but popular choices include MetaMask, Trust Connect, Ledger, ZenGo and Exodus.

Signing up with an online digital wallet involves general steps that include:

  • Creating an account
  • Downloading a browser extension
  • Generating and recording a seed phrase
  • Depositing funds, if desired

Keeping your digital assets safe starts with keeping your seed phrase safe. If anyone gets this phrase, they could take your digital assets, and getting coins or NFTs back isn’t easy, if possible at all. Keep your passwords safe, preferably offline. Some crypto investors write their seed phrases on a piece of paper that’s stored in a safe deposit box or safe for extra protection.

Step 3: Choose the coins you want to buy

With more than 8,000 crypto coins on the market, you’ll want to narrow your choices.

If you’re new to the crypto investing game, experts typically recommend investing in well-known or popular coins like Bitcoin (BTC) or Ether (ETH) — two currencies often credited for fast-tracking crypto. These coins are also listed on most mainstream crypto exchanges.

You can find memecoins like Dogecoin (DOGE), many of which were created as a joke but today are viable investments. Other big-name coins include Bitcoin Cash (BCH), Shiba Ins (SHIB), Solana (SOL), Cardano (ADA), Binance Coin (BNB) and Terra (LUNA).

Coins in New Jersey

Few state restrictions mean that you can access the majority of the 8,000 cryptocurrencies on the market through exchanges licensed to do business in New Jersey.

For memecoins or other altcoins, look to exchanges like Coinbase or Kraken, which list Dogecoin (DOGE) and Shiba Inu (SHIB) among them.

Where to buy crypto in New Jersey

New Jersey doesn’t impose strict regulations on where you can buy crypto — only that you use an exchange that’s licensed in the US.

Start with well-known and reputable exchanges based on customer support, security, number of users and coins offered.

eToro Cryptocurrency Trading

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Fiat currencies18
Supported assets78
Supported statesNo supported

Finder Award Kraken Cryptocurrency Exchange

5
★★★★★

Finder score

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Fiat currencies6
Supported assets261
Supported states48

Finder Award Coinbase Digital Currency Exchange

4
★★★★★

Finder score

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Fiat currencies23
Supported assets249
Supported states43

Gemini Cryptocurrency Exchange

4
★★★★★

Finder score

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Minimum deposits$0
Fiat currencies7
Supported assets151
Supported states50

New Jersey state laws and regulations on crypto

New Jersey appears to be setting itself up for welcoming crypto-based businesses to put down roots in the state.

New Jersey’s senate proposed the Virtual Currency and Blockchain Regulation Act in November 2021. The business-focused bill establishes a framework for crypto-based entities and offers incentives for these businesses to put down roots in the state.

Notable elements in the bill include:

  • Recognition of digital assets as property.
  • The formation of decentralized organizations to provide protections afforded to LLCs.
  • Exemption of virtual currency from laws governing money transmitters.
  • Tax credits for crypto businesses.
  • Approval for cryptocurrency as an electronic payment method for state taxes.

Are there any exchanges I can’t use in New Jersey?

KuCoin is often recommended on Reddit, but it’s not licensed to operate in the US — so steer clear. Using an exchange that skips KYC requirements, or lying while completing these forms, can result in frozen assets, losing access to your accounts or worse.

Can I use Binance in New Jersey?

Yes, New Jersey residents can use Binance.us.

Note that the exchange Binance is not legal in the US, but the branch Binance.us is available in 46 states, including New Jersey.

Can I buy Bitcoin in New Jersey?

Bitcoin (BTC), Ether (ETH) and other popular coins are available on nearly every crypto exchange in New Jersey.

Can I buy Uniswap in New Jersey?

Yes, you can buy Uniswap (UNI) on multiple exchanges, including Coinbase and Gemini.

Can I buy Vechain in New Jersey?

Vechain (VET) is available on exchanges such as Coinbase, Binance.us and Coinmama.

New Jersey cryptocurrency taxes

There are currently no laws regulating the taxation of crypto in New Jersey.

However, the IRS does consider crypto a form of property, so buying, selling or trading crypto can trigger capital gains tax required for disclosure in your tax returns.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.

Name Product GXFCY Deposit methods Fiat currencies Cryptocurrencies Offer Disclaimer Go to site
eToro Cryptocurrency Trading
eToro Cryptocurrency Trading
Bank transfer, Credit card, Debit card, Neteller, Skrill

18

78

Disclaimer: Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply.
Go to site

Capital at risk

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Binance Cryptocurrency Exchange (Not available to US users)
Bank transfer, Cryptocurrency

1

369

Go to site

Capital at risk

View details
KuCoin Cryptocurrency Exchange
KuCoin Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, PayPal, P2P

50

743

Not available for US citizens
Go to site

Capital at risk

View details
Bybit Cryptocurrency Exchange
Bybit Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, P2P

73

279

Disclaimer: Highly volatile investment product. Your capital is at risk. Not available for US citizens
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Capital at risk

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Gate.io Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card

8

1607

Not available for US citizens
Go to site

Capital at risk

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Kraken Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay, SWIFT

8

222

Go to site

Capital at risk

View details
Uphold
Uphold
Bank transfer (ACH), Credit card, Debit card, Apple Pay, Google Pay

27

237

Capital at risk

View details
EXCLUSIVE
Paybis Cryptocurrency Exchange
Bank transfer, Credit card, Debit card, Neteller

42

357

Finder Exclusive: Get 25% discount on all commission for 1 transaction when using promocode Finder25. There is no time limit on the validity of the promo code.
US residents: Restricted in the following states - NY, CT, NM, WA, HI, AL, VT, FL, AK, NV.
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Capital at risk

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Finder Award
Bitstamp Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, SEPA, Faster Payments (FPS)

3

96

Capital at risk

View details
Coinmama Cryptocurrency Marketplace
Credit card, Fedwire, SEPA, Google Pay, SWIFT, Bank card

6

15

Capital at risk

View details
EXCLUSIVE
Gemini Cryptocurrency Exchange
Bank transfer (ACH), Cryptocurrency, Debit card, PayPal, Apple Pay, Google Pay, SWIFT

7

151

Get $15 in Bitcoin when you trade $100 with code Finder15
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Capital at risk

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Finder Award
Crypto.com App
Bank transfer, Credit card, Cryptocurrency, Debit card, PayPal, Wire transfer, Apple Pay, Google Pay, SWIFT

31

378

Capital at risk

View details
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Bybit Cryptocurrency Exchange

Bybit Cryptocurrency Exchange logo
  • Offers leverage and derivative trading
  • Supports EUR, GBP and CHF
  • Licensed to operate in all European countries
Go to site
Disclaimer: Highly volatile investment product. Your capital is at risk. Not available for US citizens

KuCoin Cryptocurrency Exchange

KuCoin Cryptocurrency Exchange logo
  • Buy, sell and trade over 700 crypto assets
  • Supports 10 Asian fiat currencies
  • Offers crypto futures trading
Go to site
Not available for US citizens

Kraken Cryptocurrency Exchange

Kraken Cryptocurrency Exchange logo
  • Buy, sell and trade over 200 crypto assets
  • Licensed to operate in 17 jurisdictions in Oceania
  • Supports AUD
Go to site

Binance Cryptocurrency Exchange (Not available to US users)

Binance Cryptocurrency Exchange (Not available to US users) logo
  • Supports over 300 crypto assets
  • Binance Pay enables users spend their crypto
  • Binance P2P supports multiple African fiat currencies
Go to site

Binance Cryptocurrency Exchange (Not available to US users)

Binance Cryptocurrency Exchange (Not available to US users) logo
  • Supports over 300 crypto assets
  • Binance Pay works with Credencial Payments to support crypto payments
  • Binance P2P supports five Latin American fiat currencies
Go to site

Bybit Cryptocurrency Exchange

Bybit Cryptocurrency Exchange logo
  • Supports leverage and derivative trading
  • Supports 300 spot trading pairs
  • Low-to-non-existent trading fees
Go to site
Disclaimer: Highly volatile investment product. Your capital is at risk. Not available for US citizens
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Written by

Editor, Banking

Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto. Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt. Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others. Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio

Bethany's expertise
Bethany has written 441 Finder guides across topics including:
  • Personal finance
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  • Cryptocurrency and NFTs

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