Buy Crypto with Plaid
A simple guide on buying Bitcoin and cryptocurrencies with Plaid through your US bank account.
Summary: For investors seeking to purchase cryptocurrencies with USD through Plaid transfers, it is essential to find a US-licensed and regulated exchange that has incorporated this widely-used payment solution.
After examining more than 30 platforms in the United States, our research indicates that Uphold is the top choice for investors who want to buy over 250 crypto assets without any fees using a Plaid account. As a FinCEN-regulated platform, Uphold allows for instant USD transfers via Plaid, enabling users to trade and stake a diverse range of crypto assets and commodities such as gold and silver at highly competitive fees.
Can you Buy Crypto with Plaid?
Yes, buying Bitcoin and cryptocurrencies with Plaid is possible through trusted US-based crypto exchanges that have integrated Plaid as their payment solution. Plaid itself does not directly provide any services for buying or selling cryptocurrencies, so you'll need to use an exchange that incorporates its payment system. Many of these platforms also accept various deposit methods, such as ACH Transfers, credit and debit cards.
How to Buy Crypto and Bitcoin with Plaid
The most secure and straightforward method for buying cryptocurrencies using Plaid is through a regulated platform that has integrated the payment solution. Uphold is our recommended option due to its support for Plaid, regulatory compliance, and competitive fees. They allow you to buy, stake and trade over 250 coins with zero commissions and industry-leading spreads.
Follow these simple steps to buy crypto with Plaid on the Uphold platform:
- Register for an account on Uphold and complete the verification requirements.
- Choose 'My Banks' to connect your USD Plaid bank account.
- Search for your institution via the Plaid integration to connect your bank account.
- Transfer USD with the Plaid integration and use those funds instantly to execute trades on the platform.
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What are the Fees?
The fees will vary depending on the exchange that you use to execute your trades. Fortunately, our recommended broker Uphold offers a competitive fee structure with $0 Plaid deposit fees, $0 commissions and tight spreads at around 0.5%. This is significantly more cost-effective than options like Coinbase who charge over 1.49% for trades, wider spreads & deposit fees.
Is Plaid Crypto-Friendly?
Yes, Plaid is crypto-friendly, as it facilitates a seamless connection between traditional banking systems and various cryptocurrency platforms. Plaid is a financial technology company that provides APIs to enable users to link their bank accounts with various applications, including those in the cryptocurrency space.
Many cryptocurrency exchanges and platforms have integrated Plaid into their systems to provide a smooth and user-friendly experience for customers. By using Plaid, users can instantly transfer funds from their bank accounts to these platforms, making it easier to purchase, trade, or invest in cryptocurrencies.
Bottom Line
This guide underscores the ease of acquiring cryptocurrencies using Plaid, a favored payment solution linking traditional banks and crypto platforms. Uphold stands out as the top choice for investors, offering a seamless experience with over 250 cryptocurrencies and competitive fees. Plaid's crypto-friendly approach ensures a smooth and user-friendly experience in the crypto space.
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