How to Buy Crypto with GO2Bank

Can I Buy Bitcoin with GO2Bank?

Yes, GO2Bank account holders can buy and trade cryptocurrencies like Bitcoin through digital asset exchanges in the United States. While the bank does not directly offer crypto investment services, it supports transfers to platforms that comply with Financial Crimes Enforcement Network (FinCEN) regulations, ensuring secure and compliant trading. Users can deposit USD through ACH bank transfers or debit cards, simplifying the investing process.

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How to Buy Crypto with GO2Bank

Investing in cryptocurrency with ‍GO2Bank is secure when using regulated exchanges. Based in San Francisco, Kraken complies with FinCEN guidelines and supports over 200 digital assets for trading on spot and futures markets. It offers multiple payment methods for USD deposits, such as ACH, bank transfers, credit cards, debit cards and Google Pay. 

Follow these steps to buy crypto with your GO2Bank account:

1. Create an Account: Visit the Kraken website and sign up for a new account using your email address.
2. Connect Your Bank: Initiate a transfer from your GO2Bank account. You can do this via ACH transfer or by using your debit card.
3. Choose Asset: Once your funds are available, explore the extensive range of digital currencies. With over 200 tokens to choose from, you can select the ones that align with your investment goals.
4. Execute the Transaction: After selecting your desired cryptocurrency, enter the amount of USD you wish to invest. Review the transaction details and confirm your purchase.

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What are the Fees?

When conducting cryptocurrency transactions with GO2Bank, it's important for customers to be aware of the associated fees. These include charges for deposits, trades, and withdrawals. Trading costs may vary depending on the exchange used, often ranging from 0.1% to 0.5%.

For GO2Bank customers seeking an affordable option, Kraken is a great choice. Its trading fees start at a competitive rate of just 0.16%, which is significantly lower than many of its rivals, such as Coinbase, where they exceed 2%. Moreover, it provides free USD deposit options like ACH transfers, a beneficial aspect for investors in the United States.

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Is GO2Bank Crypto-Friendly?

Yes, GO2Bank is considered crypto-friendly and supports transfers to exchanges registered with the Financial Crimes Enforcement Network (FinCEN). The bank facilitates these transactions while adhering to FinCEN's stringent regulations governing platforms. Additionally, it provides resources and information to help users stay updated on blockchain and cryptocurrency trends.

By permitting USD transfers through approved investment platforms, GO2Bank offers its customers a secure way to participate in the market. The bank is committed to integrating these modern investment options within its broader financial services, ensuring that clients can explore digital currency investments with confidence.

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About GO2Bank

GO2Bank is a modern banking platform designed to provide a range of financial services with a focus on accessibility and convenience. It offers branded products like the GO2Bank Visa Debit Card, direct deposit options for early paycheck access, high-yield savings accounts, and mobile banking tools. With robust features such as free nationwide ATM access and the ability to deposit cash at participating retailers, GO2Bank is tailored to meet the needs of its customers.

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Bottom Line

In conclusion, GO2Bank provides a secure way to invest in digital currencies through regulated exchanges like Kraken. While it does not offer direct crypto trading services, it facilitates USD transfers, ensuring compliance with FinCEN regulations. With competitive fees and extensive cryptocurrency selection, Kraken is a practical choice for those looking to explore digital currency investments.