Can you Buy Crypto with US Bank?
Yes, investors can buy cryptocurrencies with US Bank, but only through a FINRA-licensed and regulated platform. US Bank does not offer direct support for cryptocurrency investing, so investors must transfer funds from their US Bank account to a licensed cryptocurrency exchange and use those funds to buy and sell digital assets on the platform.
How to Buy Bitcoin and Crypto with US Bank
As outlined above, the best way to buy digital assets with a U.S. Bank account in America is with a FINRA-licensed and regulated cryptocurrency broker like eToro. Their platform allows you to transfer US Dollars (USD) for free to trade over 70 cryptocurrencies with zero commissions and tight spreads on their platform.
Here is a simple 4-step guide to getting 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 US Bank ACH Transfer or Debit/Credit Card).
- Complete the USD deposit and use the funds credited to your account to invest in cryptocurrencies.
What are the Fees?
When depositing USD from a US Bank account to fund a cryptocurrency exchange, the fees may vary depending on the exchange used. Typically, transferring funds via ACH transfer to a US-based exchange such as eToro or Coinbase is free, but trading fees may vary. For example, eToro has lower fees than Coinbase, charging no fees and a 1% spread, while Coinbase charges a 1% fee plus an additional 1% spread.
What is U.S. Banks Crypto Policy?
U.S. Bank's policy on cryptocurrencies is that it does not provide services to customers related to cryptocurrency, including buying or selling virtual currency, holding cryptocurrency accounts or providing/receiving payments in digital currencies. This includes all forms of virtual currency such as Bitcoin, Ethereum, Litecoin and Dogecoin. U.S. Bank does not accept deposits or provide other services related to cryptocurrency.
Customers who engage in trading activities, such as buying and selling virtual currency, must do so through another institution. Additionally, U.S. Bank is not responsible for any losses related to virtual currencies held with third-party institutions. They encourage customers to exercise caution when engaging in any type of virtual currency trading activity.
About U.S. Bank
U.S. Bank is one of the largest banks in the United States, with branches in 25 states and a wide range of financial products and services. The bank offers a full range of services for personal, business, and commercial customers, including checking and savings accounts, loans, credit cards, and investment products. U.S. Bank also offers a range of online and mobile banking services, making it easy for customers to manage their accounts and conduct financial transactions on the go. In addition, the bank has a network of ATMs and branches across the country, providing customers with convenient access to their money and other financial services.
In conclusion, while US Bank does not offer direct support for cryptocurrency investing, customers can still transfer funds from their accounts to a FINRA-licensed and regulated cryptocurrency exchange to buy and sell digital assets. Based on our analysis of 20 platforms, we recommend eToro as the best option, offering instant USD deposits to trade over 70 cryptocurrencies and thousands of other assets with low fees and spreads.