How to Buy Bitcoin and Crypto with Truist Bank
We recommend using the Uphold platform to invest in digital assets with a Truist Bank account. To use Uphold, simply transfer USD from Truist Bank via Bank Transfer, Credit Card, Debit Card or Google Pay & Apple Pay. The platform is an excellent choice for beginners because it simplifies the entire process of buying crypto with a Truist bank account into four simple steps:
- 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’.
Cryptocurrency Trading, Deposit & Withdrawal Fees
When investing in digital assets, there are a few fees you need to take into consideration. Most exchanges will typically charge a deposit, withdrawal and trading (buying/selling) fee. However, Uphold offers free fiat currency and crypto deposits, plus withdrawals are capped at $5 per transaction.
There are also zero transaction fees when buying and selling assets on the Uphold exchange.
Truist Bank Digital Asset Policy
Although you cannot invest in crypto directly through Truist Bank, users can still purchase cryptocurrencies through SEC & FINRA-regulated digital asset exchanges like Uphold. There is nothing currently stated in Truist Banks policies that would prohibit its customers from buying or selling digital assets. Furthermore, there have been no reported issues of customers having their accounts frozen for crypto trading, so it's safe to assume the bank is crypto-friendly.
About Truist Bank
Truist Bank is a financial institution formed in December 2019 through the merger of SunTrust and BB&T banks. Truist serves approximately 10 million households in the U.S., offering personal banking, small business banking, corporate and institutional banking, investment services, insurance products, and wealth management services.
The bank has over 2,000 physical locations across 15 states and Washington D.C., as well as a robust online presence. In 2020, Truist was named one of Fortune's World's Most Admired Companies and Forbes' Best-In-State Banks list. Despite receiving mixed reviews from customers, Truist remains a major player in the banking industry with assets totaling nearly $450 billion.