How to Buy Crypto with Truist Bank

Can I Buy Crypto with Truist Bank?

Yes, Truist Bank enables customers to purchase cryptocurrencies such as Bitcoin, Ethereum, USDC, and Solana. The bank adheres to the regulations established by the Financial Crimes Enforcement Network (FinCEN), ensuring that all transactions to American exchanges are compliant. Customers can use multiple USD transaction methods, including ACH transfers and debit card transactions, to deposit money into investment platforms.

‍

How to Buy Crypto with Truist

Purchasing cryptocurrencies through your Truist Bank account is straightforward when using a reputable exchange like Kraken. Kraken is highly trusted for its adherence to FinCEN regulations and seamless process for USD deposits. The platform provides access to over 200 cryptocurrencies to trade with competitive fees and features such as crypto staking.

Here's a simple guide to buying crypto with your Truist Bank account:

1. Create an Account: Go to the Kraken website and sign up for a new account.
2. Deposit Funds: Connect your Truist Bank account to enable quick and free USD transfers.
3. Explore Cryptocurrencies: Check out the extensive range of more than 200 crypto assets.‍
4. Complete Your Purchase: Determine the amount you want to invest, select the cryptocurrency you wish to buy, and complete the transaction.

‍

What are the Fees?

‍When engaging in cryptocurrency transactions with exchanges, various fees can apply, including those for depositing and withdrawing funds or trading assets. The industry average for buying cryptocurrency fees usually ranges from 1% to 2%.

For Truist Bank customers looking for an affordable option, Kraken's trading fees start at a competitive 0.16%, significantly lower than other exchanges like Coinbase, which often charge upwards of 2%. Additionally, it offers free USD deposits, including ACH transfers, making it an appealing choice for U.S. investors.

‍

Is Truist Bank Crypto-Friendly?

Truist Bank has positively responded to the rise of cryptocurrencies, ensuring its services comply with the regulatory requirements set by the Financial Crimes Enforcement Network (FinCEN). The bank enables its customers to transfer funds to exchanges registered with FinCEN, confirming that these transactions adhere to strict standards.

This approach makes Truist Bank a dependable financial institution for crypto enthusiasts, providing a secure and compliant way to engage with digital assets. By enabling transactions through approved channels, the bank helps clients integrate cryptocurrencies into their portfolios.

‍

Bottom Line

In conclusion, while Truist Bank does not directly offer cryptocurrency trading services, it provides a secure way for customers to access the digital asset market. By allowing safe and regulated USD transfers to exchanges like Kraken, which adheres to FinCEN regulations, the bank supports clients in integrating digital currencies into their financial portfolios.