Crypto in Bimini, 50 miles from Miami

Alice Town sits on North Bimini, about 50 miles east of Miami and roughly 130 miles from Nassau. That geography shapes everything about money here. Bimini has had no confirmed commercial bank branch since 2017, its nearest Bahamian banks are in Freeport, and the nearest crypto ATMs are not in The Bahamas at all but across the Gulf Stream in South Florida. For most people the answer is a phone, a verified exchange account and a card. This page sorts out which card and which account, depending on who you are.

An island that grew while its bank left

RBC’s Bimini branch was the island’s only commercial bank branch. It was one of four RBC branch closures announced in March 2017 and merged into Freeport on 26 May 2017. CIBC and Commonwealth list no Bimini locations. We could not confirm whether any bank agency or ATM, for example at a resort, operates today, so ask before you rely on one.

Meanwhile Bimini grew from 1,988 people in 2010 to 2,361 in 2022, an 18.8% rise in population density, with an average household of just 2.1 people. The Central Bank planned Sand DollarSand Dollar The Central Bank’s digital version of the Bahamian dollar, launched in October 2020. It is not a cryptocurrency and cannot be swapped for crypto directly. Glossary education sessions here in July 2023, but we found no named Bimini merchants that accept it. Resorts World Bimini, a 750-acre complex with a casino, marina and residences, dominates the visitor economy alongside sport fishing. Ernest Hemingway lived here from 1935 to 1937.

Which route fits you

Bimini mixes three kinds of people with very different banking: Biminites with Bahamian accounts, American visitors with US cards, and boaters who cross from Florida. The right crypto route depends far more on where your bank is than on where you are standing.

If you are a Bahamian resident, crypto counts as foreign property in the eyes of the Central BankCBOB The Central Bank of The Bahamas. It issues the Bahamian dollar and Sand Dollar, supervises banks and runs exchange control. Glossary, wherever you buy it. Paying with a Bahamian card means a conversion into US dollars, which carries 1.5% stamp dutyStamp duty (FX) A 1.5% government tax on converting Bahamian dollars into foreign currency, charged by your bank. Glossary, and holding foreign assets abroad, such as a US bank account, normally needs Central Bank permission. Our guide to Bahamian banks and crypto explains the rules, and the card guide lists each bank’s foreign card fee.

Florida Bitcoin ATMs and the ferry

Baleària Caribbean runs a fast ferry from Port Everglades in Fort Lauderdale to Bimini in about two hours. Schedules vary by season; one travel guide listed sailings on Sunday, Wednesday and Friday from about US$180 round trip, so check Baleària’s own timetable. Bitcoin ATMs are common in Miami and Fort Lauderdale convenience stores and petrol stations. Operators build a markupMarkup Extra percentage a seller adds on top of the market price. Bitcoin ATMs and P2P sellers often charge markups. Glossary into the screen price, so compare it with the market before you insert cash.

For most Biminites a Florida ATM only makes sense on a trip you were taking anyway. A card purchase from your phone is usually cheaper and instant, and you skip the cash handling. Our Bitcoin ATM status page explains why no machine operates on any Bahamian island.

Step plan for Bimini

1. 01

   Decide where your money lives

   A Bahamian account (most likely with a Freeport or Nassau branch) or a US one. Fund your exchange from that account only, so your records stay clean.

2. 02

   Verify your exchange account before any trip

   Upload ID on good Wi-Fi. Do not leave it for the marina or the middle of a crossing.

3. 03

   Buy a small amount first

   B$20 to B$50 tells you whether your card is accepted and what the true total is.

4. 04

   Take custody of long-term coins

   A hardware wallet bought in Florida is an option; read our wallet guide on import duty and backups first.

5. 05

   Plan the cash-out

   Sell to a card or wire US dollars to your bank. No stamp duty applies when US dollars come in. See selling crypto in The Bahamas.

Crypto cannot pay for much on the island itself. BTC Map lists no Bitcoin-accepting businesses anywhere in The Bahamas, so treat crypto as savings, not spending money. Our guide to paying with crypto explains the few workable options.

Keep exploring

West End West End has no bank branch and no crypto ATM. How locals and arriving boaters handle crypto, ca… Read guide Bitcoin ATMs Every crypto ATM ever listed in The Bahamas, and what to do now that none are live. Read guide Buy with a card Card fees bank by bank, from 0% to 2.75%, and the fixes for declined payments. Read guide All islands Pick your island on our interactive map to see banks, cash access, Sand Dollar merchants and pra… Read guide