Can You Buy Crypto with Citibank?
Yes, while Citibank itself does not offer cryptocurrency trading services, you can still purchase digital currencies with Citibank by using a third-party cryptocurrency exchange that accepts Citibank deposits. Some popular & FINRA-regulated exchanges include eToro, Coinbase, and Binance US, but it's important to research each platform's regulatory compliance, fees, and security measures before making any investments.
How to Buy Bitcoin and Crypto with Citibank
As outlined above, the best way to buy Bitcoin and cryptocurrencies with a Citibank account is through a regulated broker. With this method, investors can easily and safely transfer USD via ACH Transfer, Debit Card, Credit Card and more to trade cryptocurrencies.
You can follow our simple step-by-step guide below with our recommended broker, eToro:
- 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 Citibank ACH Transfer or Citibank Debit/Credit Card).
- Complete the USD deposit and use the funds credited to your account to invest in cryptocurrencies.
What deposit methods are supported for Citibank users?
eToro is one of the largest investing and trading platforms in the world, and offers a variety of deposit methods for every country. For US residents, you can currently deposit funds from Citibank through an ACH Transfer, Citibank Credit or Debit Card, PayPal, Bank Wire and many other methods.
Citibank Cryptocurrency Policy
Citibank doesn't currently offer cryptocurrency services to its retail customers. However, the company's Treasury and Trade Solutions unit is exploring digital assets, as detailed in an 8-page paper, indicating that they are not against crypto and are not prohibiting engagement with it at present.
This means that Citibank customers can still buy crypto assets from US exchanges that are regulated by FINRA with their bank account or credit/debit card.
What is Citibank
Citibank, a subsidiary of Citigroup Inc., is one of the largest banks in the United States with operations in more than 160 countries and territories around the world. It’s considered one of the ‘Big Four’ in American banking corporations. It boasts over 2300 branches and 65 000 ATMs globally, handling above 200 million accounts.
Citibank was founded in 1812 as the City Bank of New York before merging with First National Bank in 1955 to form Citibank. In 1998, Citicorp merged with Travelers Group, creating Citigroup Inc. The bank has launched a $50 billion 10-year investment plan to support low-income communities and reduce its carbon emissions, to rectify its involvement in the 2008 financial crisis.
In conclusion, while Citibank may not offer cryptocurrency services, Citibank customers can still purchase digital currencies through a reputable and regulated exchange such as eToro. With a variety of deposit methods available, investors can easily transfer funds to start trading in the world of cryptocurrencies.
As Citibank explores digital assets through its Treasury and Trade Solutions unit and partnerships with crypto custody platforms, it remains clear that the company is keeping up with the latest developments in the crypto space.