Kraken Cryptocurrency Exchange
- Buy, sell and trade 193 cryptos.
- Instant funding & advanced trading options.
- Join 9M+ users around the world.
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Unlike New York, which enforces strict limitations on where consumers can buy cryptocurrency, crypto exchanges in the US are largely open for business in Texas. It means you choose from a greater variety of platforms, wallets and coins you can buy, sell or trade.
Weigh fees and factors against your budget and investment goals to find an exchange that fits your needs.
Understand the exchange’s fee structure, and know what you could pay for transfers, deposits, withdrawals and more, with fees varying by exchange. Look for features you expect to use, like fiat-to-crypto trades, access to coins you’re interested in, tax reporting support and crypto banking products that can help you tap into the value of your crypto.
General steps to signing up with an exchange include:
And make sure the exchange is compatible with the digital wallet you’ll use to store and access your crypt assets.
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
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%
If you want to buy cryptocurrency, you need a digital wallet. These wallets store your digital assets, including coins, NFTs and even keys. Wallets are a dime a dozen, so choosing the right one for your needs largely depends on the exchange you want to use.
Digital wallets fall into roughly two types
Online digital wallets typically require steps that include:
You’ve heard of crypto staples Bitcoin (BTC) and Ether (ETH), but there are literally thousands of altcoins available to invest in, with more created all the time. Other popular coins include Dogecoin (DOGE), Bitcoin Cash (BCH), Shiba Ins (SHIB), Solana (SOL) and Cardano (ADA).
Cryptocurrency is a speculative investment. Costs can vary greatly among coins and fluctuate daily, leaving room for dramatic gains and losses.
While there’s no guarantee you’ll make a profit, you can narrow down a coin that fits your needs by researching elements that include:
Residents of Texas can buy most cryptocurrencies available in the US — from big-name coins like BTC and ETH to memecoins like DOGE and SHIB.
Most popular exchanges are available for Texas residents. The state also supports Bitcoin ATMs that allow consumers to buy Bitcoin with physical cash. These ATMs aren’t connected to a bank or credit union, but instead are connected to the Bitcoin network.
Popular exchanges available in Texas include:
Kraken Cryptocurrency Exchange
Based in the United States and founded in 2011, boasts over 6M clients in nearly 190 countries, is a popular choice for many crypto enthusiasts. Lists 87 cryptocurrencies, including BTC, ETH, DOGE and ADA. There's a 0.9% fee for buying stablecoins with another stablecoin or USD; a processing fee of $0.25+3.75% fee for card purchases and digital wallet payments; and a 0.5% online banking processing fee. Using the Buy Crypto Widget incurs a 1.5% fee per transaction. Using Kraken Pro can result in lower fees.
Founded in 2016 and based out of Singapore. Lists 190 cryptocurrencies including BTC, BCH, ADA, DOGE, EOS, LTC, XLM and ETH. It also offers its own coin, CRO, and if you hold stake in it you're offered lower trading fees and more credit card rewards. Trading fees start at 0.40% and a 2.99% fee for credit card purchases. However, many coins offered aren't available in the U.S. Requires a $1 purchase amount.
Coinbase Digital Currency Exchange
Founded in 2012, Coinbase lists more than 50 coins that include BTC, ETH and DOGE. Its conversion fee ranges from 0.50% to 2.0% and is calculated based on when you place your order, your payment method and market conditions, according to Coinbase's pricing and fee disclosures. You must have at least $2 in your account to buy. Coinbase also has plans to open an NFT marketplace in 2022.
Gemini Cryptocurrency Exchange
Founded in 2014, Gemini lists more than 50 coins that include BTC, ETH, SUSHI and DOGE. Transaction fees depend on your transaction amount, starting at $0.99 for a transaction of up to $10. No deposit fees with crypto or wire transfers, though you'll pay 3.49% of your total purchase amount with a debit card transfer, according to Gemini. Has no account minimum.
You can use the somewhat controversial exchange Kraken in Texas. However, Texas residents can’t deposit or hold EUR (euro-backed asset) or trade any EUR pairs such as ETH-EUR, according to Kraken.
Another exchange you can’t use in Texas, or any other state, is KuCoin. This exchange doesn’t accept U.S. users and isn’t licensed to operate in the U.S.
Many Redditors and crypto blogs claim you can use exchanges not licensed in the U.S. by skipping KYC (Know Your Consumer) requirements. But this can risk getting your digital assets frozen or getting locked out of your account – so we recommend sticking to exchanges that are licensed to operate in your state and avoiding workarounds that could land you in legal trouble.
The cryptocurrency exchanges Binance and Binance.us are both unavailable to Texas residents.
Some 8% of respondents who live in Texas currently own Bitcoin, according to a Google survey of 1,501 people living in Texas conducted online from December 13 to January 10, 2022. An additional 6% said they don’t own Bitcoin yet but plan to buy in 2022 — which means that Bitcoin adoption in Texas could hit 14% by the end of the year.
In Texas, men (11%) are more than twice as likely as women (5%) to own Bitcoin. Of those who don’t own Bitcoin, men (7%) are also more likely than women (6%) to buy it this year. If these men follow through with their plans, it could mean the gap grows to a difference of seven percentage points by the end of the year.
Those ages 25 to 34 are most likely to own Bitcoin according to respondents who live in Texas, followed by ages 35 to 44, ages 18 to 24 and ages 45 to 55. Young adults ages 18 to 24 who don’t yet own Bitcoin are most likely to buy this year, while those ages 55 to 64 and older are least likely to buy Bitcoin.
Our data is based on a Google survey of 1,501 people conducted online from December 13, 2022, to January 10, 2022. Respondents identified that they live in Texas. We asked respondents if they currently own Bitcoin and, if not, whether they plan to buy Bitcoin in 2022.
Texas is home to the largest Bitcoin mine, located in Whinstone, which hosts over 25,000 miners (computers programmed to mine Bitcoin), as reported by the Texas Tribune.
The state passed the Texas Virtual Currency Bill in 2021, which recognizes the legal status of virtual currency, regulates cryptocurrency under commercial laws and gives crypto holders legal rights. The goal is better protection for consumers from scams, fraud or theft from businesses that deal with cryptocurrency.
Yes, it is. Not only is Bitcoin (BTC) legal in Texas, but the state also recognizes the currency as legal tender, and Texas is known as one of the top spots for Bitcoin mining operations.
Yes, most of the large US-licensed exchanges that list BTC and ETH are available to Texas residents. Coinbase, Gemini, Venmo and even PayPal offer these popular coins and more. BTC and ETH are staples often credited for moving crypto into the mainstream.
Yes, DOGE is widely available on exchanges. Popular exchanges that list DOGE include Coinbase, Gemini, Robinhood, eToro and SoFi.
Yes, BNB is available for purchase on multiple crypto exchanges, including Coinbase. However, you can’t buy BNB on the popular exchange Gemini at this time.
Yes, Cardano (ADA) is available on many crypto exchanges, such as Binance.us, Coinbase and Kraken.
Cryptocurrency is decentralized finance, so there isn’t an authoritative entity out there looking out for you. While exchanges and digital wallets can do their best to keep things secure, you can proactively protect yourself with our top tips:
Are you visiting from outside the US?
How to start buying and investing in cryptocurrency in Puerto Rico.
Wyoming may have regulations on crypto, learn how to buy cryptocurrency legally in Wyoming.
West Virginia may have regulations on crypto, learn how to buy cryptocurrency legally in West Virginia.
Wisconsin may have regulations on crypto, learn how to buy cryptocurrency legally in Wisconsin.
Washington may have regulations on crypto, learn how to buy cryptocurrency legally in Washington.
Virginia may have regulations on crypto, learn how to buy cryptocurrency legally in Virginia.
Vermont may have regulations on crypto, learn how to buy cryptocurrency legally in Vermont.
South Dakota may have regulations on crypto, learn how to buy cryptocurrency legally in South Dakota.
The Aloha State restricts crypto somewhat, but Hawaiians still have plenty of exchanges to choose from.
New York has regulations surrounding crypto, but you can still buy cryptocurrency.
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