How to Buy Bitcoin and Crypto with Citibank
When investing in cryptocurrencies using Citibank, you will need to use a trustworthy crypto broker like Uphold. Once ready to buy, you simply transfer US dollars from your Citibank account to the exchange via one of its many deposit methods. Below is a more detailed guide to help you get started:
- Open an account with Uphold and complete the identity verification process.
- Go to ‘Deposit Funds’ and select 'My banks' to connect your Truist Bank account.
- Find whatever asset you want to buy from the search bar and tap ‘Trade’.
- Enter the amount you want to purchase and select ‘Open Trade’.
What deposit methods are supported for Citibank users?
Uphold being one of the largest investing and trading platforms in the world, offers a variety of deposit methods for every country. For US residents, you can currently deposit funds from Citibank through Bank Transfer, Credit Card, Debit Card, Google Pay and Apple Pay.
Can I invest in Citibank?
Yes, as previously mentioned, Uphold is a multi-asset investing platform and in addition to cryptocurrencies, users can also purchase stocks through the exchange. Among its 3000+ assets, is Citibanks stock (Citigroup Inc.), it is publicly listed on the NYSE under the stock ticker C. Follow the below guide to purchase Citibank stocks.
- Open the search bar and enter ‘Citigroup’, then click ‘Trade’.
- Input the amount you wish to invest and tap the ‘Set Order’ button.
Citibank’s position on digital assets
While the company doesn’t have any crypto services for ordinary clients, it does have a Treasury and Trade Solutions unit where they incorporate digital assets, as explained in this 8-page paper. This suggests that they are not opposed to crypto, nor would they ban engagement with it presently.
Moreover, you can purchase tokens from FINRA-regulated exchanges like Uphold using a Citibank bank account or debit/credit card. In June 2022, Citibank partnered with Metaco, a crypto custody platform. This announcement is part of the company’s move towards incorporating tokenized securities and blockchain technology.
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 reducing its carbon emissions, to rectify its involvement in the 2008 financial crisis.