Can you Buy Crypto with Zelle?

Yes, it is possible to buy crypto with Zelle through a third-party and licensed exchange that accepts ACH deposits. Zelle itself does not offer a direct way to purchase cryptocurrency, but some exchanges allow users to fund their accounts using Zelle transfers. These exchanges are FINRA & FinCEN regulated, which means they may have certain requirements, such as identity verification, before allowing users to buy and sell cryptocurrencies.

How to Buy Crypto with Zelle

As outlined above, the best way to buy digital assets with your Zelle account is with a FINRA-licensed exchange in the USA. With this method, investors can connect any US Bank account via Zelle to safely deposit USD and start trading & staking crypto assets.

Here is a simple guide to help you get started with our recommended broker eToro:

  1. Visit eToro to sign up and verify your identity.
  2. Select the 'Deposit Funds' button on the bottom left of your screen.
  3. Select the amount of USD you want to deposit and ACH Transfer as your preferred method.
  4. Transfer funds to the bank details provided via Zelle and you will be ready to buy & sell crypto assets on the platform.
Buy Crypto with Zelle Deposit

Is Zelle Crypto-Friendly?

Yes, Zelle is crypto-friendly in the sense that they allow customers to deposit funds into regulated cryptocurrency exchanges in the United States using their online banking app. While Zelle itself does not deal in cryptocurrency, it does allow users to link their Zelle account to their bank account, which can then be used to deposit funds into cryptocurrency exchanges that are registered with regulatory agencies in the United States.

What are the Fees?

Regarding fees, it depends on which cryptocurrency exchange you use. In general, depositing USD via ACH transfer from Zelle to a US-based exchange like eToro or Coinbase is free. However, the trading fees may vary across different exchanges. For instance, eToro is relatively cheaper than Coinbase as it charges no fees and a 1% spread, whereas Coinbase charges a 1% fee plus another 1% spread.

Bottom Line

To summarize, Zelle is not a direct way to buy cryptocurrency, but it allows customers to deposit funds into regulated exchanges in the US. eToro is a recommended platform to get started, offering instant USD deposits via Zelle to trade over 70 cryptocurrencies with industry-leading fees and spreads.

While the fees for trading may vary across different exchanges, depositing USD via ACH transfer from Zelle to a US-based exchange is generally free. Overall, buying crypto with Zelle is possible through licensed exchanges and is a convenient way to connect your bank account and start trading digital assets.