Summary: Woodforest National Bank customers cannot currently buy or sell cryptocurrencies directly through the bank. This means that Woodforest customers will need to sign up to a US-licensed and regulated digital assetexchange in order to invest in crypto assets.
Following a detailed examination of over 10 cryptocurrency exchanges, our team found that eToro was the top option. We selected eToro because it is regulated by FinCEN and offers fast and free USD deposits from Woodforest Bank to trade a wide variety of crypto assets.
- Free and instant USD deposits with Woodforest bank transfer (ACH), credit/debit cards and more.
- Trade over 25 crypto assets with industry-leading fees and spreads.
- eToro USA LLC is registered and regulated with FinCEN.
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.
Can I Buy Bitcoin with Woodforest Bank?
As of now, Woodforest National Bank does not offer cryptocurrency trading services directly to its customers. That said, the bank does not block its account holders from buying crypto through a certified exchange in the United States. It is crucial for customers to select an exchange that is authorized by regulatory bodies like FinCEN, which guarantees both the platform's security and its adherence to U.S. regulatory obligations.
How to Buy Crypto with Woodforest Bank
As stated above, the easiest way to invest in cryptocurrencies via your Woodforest Bank account is through the most secure exchange in the US, eToro. They offer free and instant USD deposits from Woodforest accounts to trade over a wide variety of digital assets with industry-leading fees.
You can get started via Woodforest with this simple guide:
- Create a free account on eToro and complete the verification requirements.
- Click 'Deposit Funds', pick a method and transfer USD from Woodforest.
- Go to the search bar, find the token you want to buy and click 'Trade'.
- Enter the amount you want of USD you want to invest and tap 'Open Trade'.
Woodforest Bank Cryptocurrency Policy
Indeed, Woodforest National Bank is a crypto-friendly bank in the United States. They permit their customers to invest in digital currencies via FinCEN approved cryptocurrency brokers, presenting an excellent opportunity to mitigate risks associated with volatile banking sectors and diversify portfolios with Bitcoin and other digital assets. With Woodforest National Bank, customers can conveniently invest in cryptocurrencies through licensed brokers such as eToro, which provides quick and secure USD deposits through ACH transfers, debit cards, or credit cards.
About Woodforest Bank
Woodforest National Bank is a privately held bank headquartered in The Woodlands, Texas. It was founded in 1980 and has since expanded to over 700 branches across 17 different states in the United States. These states include Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Maryland, Mississippi, Missouri, New York, North Carolina, Ohio, Pennsylvania, South Carolina and Texas.
The bank has received numerous accolades for its services, including being named one of Forbes' Best Banks in America for the past four consecutive years. The bank has also been recognized for its community involvement, earning awards such as the J.D. Power Award for Retail Banking Satisfaction and the Corporate Social Responsibility Award from the Greater Houston Partnership.
In conclusion, while Woodforest National Bank does not directly offer cryptocurrency trading, it facilitates its customers to securely invest in digital currencies via certified exchanges like eToro. By adhering to U.S. regulatory standards, the bank provides a safe environment for customers to engage in crypto trading, thereby offering them an opportunity to diversify their portfolio in the volatile financial landscape. It’s clear that Woodforest Bank represents a forward-thinking financial institution that embraces the new age of digital assets while ensuring customer security and regulatory compliance.