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How to Buy Crypto with Fifth Third Bank

How to Buy Crypto with Fifth Third Bank

Adrian Graham
Fact Checked
Jan 4, 2023

Key Takeaway: Fifth Third Bank (53 Bank) does not directly offer any products or services which enables its customers to buy or sell cryptocurrencies through their online banking platform. This means that 53 customers will need to deposit US Dollar (USD) from their bank account into a regulated exchange.

If you are looking to get started quickly, we recommend the Uphold platform because they are a FinCEN-licensed exchange that offers fast USD deposits from Fifth Third Bank to trade and stake over 200 cryptocurrencies.

Table of Contents

Best Crypto Exchange for Fifth Third Bank

Platform Highlights

  • Trade 200+ Cryptos with fast & cheap USD Deposits via Fifth Third Bank ACH Transfer or Credit/Debit Card.
  • Regulated by FinCEN in the USA and has an audited Proof-of-Reserves.
  • Feature-rich platform with Crypto Staking and hundreds of Stocks, ETFs & Metals to trade.
Uphold - Fifth Third Bank
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Audited Proof of Reserves
Audited Proof of Reserves

Can I buy Crypto with 53 Bank?

Fifth Third Bank (53 Bank) does not directly offer cryptocurrency trading services for customers through the online banking platform. They also do not provide any crypto custodial services for retail or institutional investors, which means you cannot store your coins with their FDIC insured accounts.

That said, Fifth Third does allow its customers to deposit and withdraw US Dollars (USD) from licensed digital asset trading platforms, if they want to invest in the asset class.

How to buy Crypto with Fifth Third online

As outlined above, the best way to buy cryptocurrencies like Bitcoin and Ethereum with a Fifth Third Bank account is with a licensed crypto broker. Our top pick for investors in the US is Uphold because they offer fast and cheap USD deposits from Fifth Third to trade 200+ crypto assets and hundreds of stocks, ETFs, commodities and more with zero fees.

You can follow the simple guide below to get started:

  1. Sign Up: Create an account on Uphold and complete your verification (personal or company).
  2. Connect Account: Select the currency you want deposit on the Uphold Platform (USD + 30 more).
  3. Deposit Funds: Connect your Fifth Third Bank account or Debit/Credit Card to quickly deposit USD.
  4. Buy Crypto: The final step is to find the cryptocurrency you want to buy and execute your trade.
Connect Fifth Third Bank account and deposit USD.
Connect Fifth Third Bank account and deposit USD.

Is Fifth Third Bank Crypto Friendly?

Fifth Third Bank does not prohibit their customers from investing in Bitcoin, cryptocurrencies or other aspects of the rapidly growing meta-economy. This means you can safely deposit USD into licensed crypto exchanges to trade any available asset.

About Fifth Third Bank (53 Bank)

Fifth Third Bank (53 Bank) is one of the largest banks in the United States. The bank has over 1,000 branches and more than 2,500 ATMs across 10 states. Fifth Third Bank offers a wide range of financial services, including personal banking, business banking, investment services, and mortgage loans.

Fifth Third

53 Bank is licensed and regulated by the Federal Deposit Insurance Corporation (FDIC). The bank is a member of the FDIC's Transaction Account Guarantee program, which provides deposit insurance for transaction accounts.

Fifth Third has received generally positive reviews from customers. However, there have been some complaints about the bank's customer service and fees. Overall, Fifth Third Bank is a solid option for banking services in the United States.

Fees for buying Crypto with Fifth Third

There are two main fees you need to be mindful of when buying Cryptocurrency with a Fifth Third Bank - these are:

  • Deposit Fees: The fees you pay to deposit USD to an exchange
  • Trading Fees: The fee charged to buy Bitcoin with USD

With the Uphold platform, both the Deposit Fees and Trading Fees are completely free for customers depositing USD from a Fifth Third bank account. This makes them the most fee-friendly option available.

Final Thoughts

Fifth Third Bank does not offer direct crypto trading services for customers, but they do allow USD deposits to licensed digital asset exchanges. Customers can use these exchanges to buy cryptocurrencies with their Fifth Third bank accounts. We recommend Uphold as our top pick for investing in the crypto space due to their low fees, wide range of assets and reputable service. Finally, be sure to double check all fees associated with the platform you choose before making a purchase. Happy trading!

Adrian Graham

Co-Founder & former banker turned Full-Time DeFi analyst and researcher. Left traditional finance to pursue my interest in digital assets and decentralized finance.

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