How to Buy Bitcoin with Bank Of America
If you want to buy cryptocurrencies using your Bank of America account, eToro US is a great choice and supports the following deposit methods; ACH bank transfer, Debit Card, Credit Card, Skrill & Neteller. You can buy cryptocurrencies like Bitcoin with a Bank of America account in these three simple steps.
- Open an account on eToro and complete the onboarding process.
- Tap ‘Deposit Funds’, select a method and send money from your Bank of America account.
- Open the search bar, find the asset you want to buy, and click “Trade". Input the amount you want to invest, then select “Open Trade”.
Understanding the Crypto Market
It’s important to understand the volatility of the crypto market. The price of a token can change every second, minute, and hour. It’s easy for investors and ordinary people to control their emotions once they understand the crypto market volatility.
Many people invest in cryptocurrencies without understanding this concept. However, knowing and getting information is essential when investing in any cryptocurrency. When you understand dynamics of investing in digital assets, you'll be able to determine whether a token is smart investment with excellent features and utility or a poor one that won’t provide high returns.
Bank Of America Cryptocurrency Policy
The Bank of America has never restricted its clients from buying and selling cryptocurrencies through authorized and licensed cryptocurrency exchanges like eToro. eToro is registered with FinCEN as a Money Services Business and is licensed to operate in the US by FINRA.
Furthermore, there is nothing stipulated in the Bank of Americas terms and conditions that would forbid its users from investing in digital assets like Bitcoin or Ethereum.
About Bank of America
The Bank of America, also known as BofA, is a multinational financial institution and one of the largest banks in the United States. Founded in 1904, BofA offers a range of banking services and products to individuals, businesses, small and middle-market enterprises, and large corporations. The Bank of America services approximately 56 million US residents.
The bank has locations throughout the country as well as international presence in over 35 countries. In 2019, Bank of America reported revenues of $102 billion and assets totaling $2.3 trillion. In recent years, Bank of America has made efforts to address social and environmental issues through its investments and philanthropic initiatives.