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How to buy Crypto with Merrill Edge

How to buy Crypto with Merrill Edge

Karen Tren
Fact Checked
Sep 10, 2022

Summary: The Merrill Edge trading platform does not offer any products to buy or sell Bitcoin, Ethereum, Solana or other digital assets. Their brokerage only allows investors to buy crypto-related stocks like Coinbase or Microstrategy.

If you want to buy and sell crypto, stocks, ETFs, commodities and more from one regulated brokerage in the USA, we recommend eToro.

Table of Contents

Best Merrill Edge Alternative

Platform Highlights

  • Trade 70+ Cryptos & 7,000+ Stocks, ETFs and more.
  • Fast and Cheap ACH Transfers from any US Bank.
  • Zero fees or trading commissions on Crypto & Stocks.

Can I buy Crypto with Merrill Edge?

As at time of writing, there is no way to buy cryptocurrencies directly through the Merrill Edge platform. The only way to get exposure to digital assets on Merrill Edge is by investing in crypto related stocks like Coinbase, Grayscale Bitcoin Trust (GBTC), Arkk Invest or Microstrategy.

Although crypto stocks like Coinbase do track the volatility of crypto-assets, the return on investment has been historically better from buying the underlying like Bitcoin or Ethereum.

How to buy Crypto from Merrill Edge

If you are a Merrill Edge user with a Bank of America (BofA) account, you will need to sign up to an exchange that accepts bank transfers to buy cryptocurrencies. The best method to get started quickly is eToro, they offer fast and cheap US Dollar deposits to trade over 80 cryptos and over 8,000 stocks, ETFs and other assets.

You can follow this simple 4 step guide to get started"

  1. Sign up to the eToro platform and verify your personal information.
  2. Deposit USD from your bank account via ACH Transfer, Debit Card or Credit Card.
  3. Find the Crypto you want to buy and select 'Trade'.
  4. Input the USD amount and execute your order.
Trade thousands of assets in one platform with eToro.

Will Merrill Edge offer Crypto?

Merrill Edge have not made any statement outlining any futures plans for their platform to offer cryptocurrency trading. Their self-directed accounts are optimized for retail investors and are designed to simplify the trading process.

Adding cryptocurrency products like Bitcoin, Solana, Avalanche and more could complicate their product suite and confuse their users. This is why crypto curious Merrill Edge users will need to migrate to alternative platforms like eToro.

About Merrill Edge

Merrill Edge is an online brokerage platform owned by Bank of America. It was launched in 2010 and offers a variety of investment products and services to its clients. Merrill Edge is licensed and regulated by the US Securities and Exchange Commission (SEC).

Merrill Edge offers a variety of investment products, including stocks, bonds, mutual funds, ETFs, and options. It also offers banking services, such as checking and savings accounts, credit cards, and mortgages.

Merrill Edge

If you're looking for an online broker that offers a wide range of investment products and services, competitive pricing, and a user-friendly platform, Merrill Edge is a good option to consider. However, it's important to note that Merrill Edge does not offer physical branches or investment advice.

Karen Tren

Full-time writer and cryptocurrency newbie! Learning about NFTs, DeFi and GameFi with my research and writing for BuyBitcoinBank.

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