Can you Buy Crypto with M&T Bank?
M&T Bank does not offer direct trading of cryptocurrencies on its platform. However, it is possible to buy cryptocurrencies through a FINRA-licensed exchange in the USA by linking your M&T Bank account to the exchange and completing the necessary verification steps. It's important to note that investing in cryptocurrencies can be risky and it's important to conduct proper research and consult with a financial advisor before making any investments.
How to Buy Crypto with M&T Bank
As outlined above, the best way to buy Bitcoin and other digital assets with an M&T Bank account is with a trusted and regulated crypto exchange in the USA. With this method, investors can safely transfer US Dollars (USD) via ACH Transfer, Debit Card or Credit Card to invest in the asset class and stake tokens to earn interest from protocol rewards.
You can follow our simple step-by-step guide 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 M&T Bank ACH Transfer or Debit/Credit Card).
- Complete the USD deposit and use the funds credited to your account to invest in cryptocurrencies.
Is M&T Bank Crypto-Friendly?
M&T Bank is crypto-friendly, as they allow customers to deposit USD into FINRA-regulated exchanges. This means that their customers can easily transfer their funds from their bank account to a cryptocurrency exchange and make transactions such as buying and selling various digital assets.
What are the Fees to Invest in Crypto?
The fees to invest in digital assets will vary depending on the trading platform you use. Exchanges like eToro and Coinbase are incredibly expensive and can charge over 2.49% per transaction when you consider deposit fees, trading fees and spreads. Fortunately for investors, eToro charges zero fees to deposit USD, buy crypto and transfer funds. They also offer more competitive spreads on their asset prices than many of the leading exchanges in the US.
To sum up, M&T Bank does not currently offer direct cryptocurrency trading on its platform, but it is possible to buy cryptocurrencies through a FINRA-licensed exchange in the USA by linking your M&T Bank account to the exchange. Based on our analysis, eToro is a top pick for M&T Bank account holders due to its low fees, user-friendly platform, and regulatory compliance.