How to Buy Cryptocurrency in Jersey
Buying cryptocurrency in Jersey
The government in Jersey has a very clear stance on cryptocurrencies and digital technologies - they are all for the implementation and development of such innovations. With that said, Jersey has embraced fintech and blockchain technologies at a wide scale and they support the adoption of these technologies in terms of laws and regulations. The country supports the development and use of cryptocurrency exchanges and other security token exchanges as well. However, much like everywhere else in the world, cryptocurrencies such as Bitcoin are recognized as a separate asset class rather than an actual currency. Interestingly, the Jersey Financial Services Commission or the JFSC licensed the world’s first Bitcoin-focused fund. This skyrocketed the adoption and use of cryptocurrencies in the country. Today, there are many token issuers and exchange vehicles that can be used to buy, sell, and trade cryptocurrencies in Jersey.
As of 20/03/2021
These exchanges all accept customers from Jersey. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below
Kraken has a good reputation for security and protection of your funds and operates across the USA (except NY), Canada, the EU and Japan
- It can be used to trade against fiat options
- Robust security measures
- Free SEPA deposits in Europe
- Not a very beginner-friendly interface.
- No card deposit options