Can you Buy Crypto with Capital One?
It is not possible to buy cryptocurrencies directly through Capital One or most traditional US banks. However, investors can buy cryptocurrencies through a FINRA-licensed and regulated platform that accepts deposits from Capital One ACH Transfers, Debit Card and Credit Cards.
How to Buy Bitcoin and Crypto with Capital One Card
As outlined earlier, the safest and easiest way to buy cryptocurrencies like Bitcoin and Ethereum with a Capital One card or bank account is through eToro. To buy crypto on eToro, you simply need to send USD from your Capital One account via ACH Transfer, Capital One Credit Card, Capital One Debit Card and other methods.
Follow our simple step-by-step guide below to get started:
- Visit eToro to sign up and verify your identity.
- Select the 'Deposit Funds' button on the bottom left of your screen.
- Select the amount of USD you want to deposit and your preferred deposit method (e.g Capital One ACH Transfer or Capital One Debit/Credit Card).
- Complete the USD deposit and use the funds credited to your account to invest in cryptocurrencies.
Fees to Invest in Digital Assets
The fees for depositing USD from a Capital One account to fund a cryptocurrency exchange may vary depending on the exchange used. ACH transfers to a US-based exchange, such as eToro, are usually free, but trading fees may vary. eToro has a 1% spread with no additional fees, while popular retail alternatives like Kraken and Coinbase charges a 1% fee plus a 1% spread.
It is important to note that Capital One Credit Card deposits to eToro will incur a fee of 2.49%. This is because the card issuer (Mastercard) charges a fixed fee for all credit card transactions, including crypto transfers or deposits.
Capital One Cryptocurrency Policy
Capital One has no policy that prohibits its customers from investing in digital assets using their bank accounts and credit/debit cards. Furthermore, there have been no reports of user funds being stopped when transferring to a FINRA-licensed and regulated cryptocurrency exchange in the USA.
What is Capital One
Capital One is a financial services company offering banking, credit cards, loans, and investments. Capital One Bank operates over 900 branches primarily in the Eastern United States. They are known for their innovative use of technology and data-driven approach to banking. They have also made a commitment to responsible lending and financial education for their customers.
In addition to traditional banking products, Capital One offers online and mobile banking options as well as investment advisory services. Founded in 1988, Capital One became a top 10 bank in the United States by total deposits in 2017. As of 2019, they serve over 50 million customers across the country.
Bottom Line
In summary, while Capital One does not offer direct cryptocurrency investment services, investors can transfer funds from their Capital One account via ACH Transfer or cards to a FINRA-licensed cryptocurrency exchange like eToro. eToro is the best option for buying over 70 cryptocurrencies with instant USD deposits, low fees, and spreads.
Capital One Credit Card deposits incur a fee of 2.49%, and there have been no reports of issues & funds being blocked when transferring funds to a cryptocurrency exchange.
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