Summary: Associated Bank allows its customers to venture into the world of cryptocurrency by linking them to authorized digital asset exchanges. It's important to note that while the bank does not offer direct trading services, it does enable customers to transact on platforms recognized by the Financial Crimes Enforcement Network (FinCEN) that facilitate USD deposits.
After a comprehensive review of top exchanges, we have identified Kraken as the ideal choice for Associated Bank customers. Kraken, a platform based in the U.S. which operates under FinCEN’s guidelines, supports a huge selection of over 200 different cryptocurrencies for trading and staking.
- Instant and free USD deposits from Associated Bank via ACH, bank transfer, credit cards and more.
- Trade and stake over 200 crypto assets with industry-leading fees and tight spreads.
- Registered as a Money Services Business with Financial Crimes Enforcement Network (FinCEN).
Can I Buy Bitcoin with Associated Bank?
Yes, customers of Associated Bank can acquire Bitcoin and other digital currencies by transferring funds to a trusted cryptocurrency exchange in the USA. We advise selecting a trading platform that is regulated by FinCEN or other appropriate financial authorities. Simply transfer funds from your Associated Bank account to a secure trading platform to begin swapping USD for digital assets.
How to Buy Crypto with Associated Bank
Customers of Associated Bank can invest in cryptocurrencies through a regulated exchange like Kraken located in the United States and overseen by FinCEN. This platform allows U.S. investors to buy, sell, trade, and stake a wide range of over 200 tokens. It also enables USD deposits directly from Associated Bank accounts via ACH, wire transfers, and credit and debit cards.
Here's a step-by-step guide for American customers interested in cryptocurrency trading:
- Open an account: Set up your account on Kraken, completing the necessary identification verification process.
- Choose your currency: After logging in, navigate to the deposit section and select your desired currency, such as USD.
- Fund your account: Choose a suitable payment method like ACH transfer, wire transfer, credit or debit card.
- Buy Cryptocurrency: The final step involves choosing your preferred crypto asset and verifying the transaction.
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Associated Bank Cryptocurrency Policy
Associated Bank maintains a forward-thinking approach towards cryptocurrencies, supporting financial innovation while complying with all regulations. The bank allows its customers to invest in digital currency via trustworthy platforms like Kraken. Kraken adheres to all the Securities and Exchange Commission (SEC) regulations and is registered as a Money Services Business with FinCEN, operating under Payward, Inc., and can be found under MSB Registration No. 31000239561651.
Digital Asset Investing Fees
Understanding the costs involved in investing in digital assets is essential for success. Platforms like Kraken implement certain fees that can affect your earnings and should be considered:
- Spot Trading Costs: Kraken employs a sliding scale for spot trading fees, starting at 0.16% for order placers and 0.26% for order takers. These rates can drop with an increase in your trading volume.
- Deposit Fees: While depositing cryptocurrencies is free on Kraken, adding fiat currency incurs nominal fees. This rate varies based on the payment method, such as ACH transfers or credit and debit cards.
- Withdrawal Costs: Fees for withdrawing funds depend on the type of crypto token being transferred. For example, withdrawing Bitcoin incurs a flat fee of 0.0005 BTC.
Kraken's trading fees are competitive, decreasing in cost as your trading volume increases. The platform's deposit and withdrawal fees are also comparable to other exchanges, making it a suitable choice for traders intending to obtain optimal financial results.
What is Associated Bank?
Associated Bank is a leading financial institution headquartered in Green Bay, Wisconsin, offering a regional banking experience for customers in the Midwest. Recognized for its comprehensive banking services, the bank caters to individuals, businesses, and government entities.
Although its branches are limited to just three states, Associated Bank’s large ATM network extends its banking footprint past the Midwest, where the bank mainly operates. Interest rates are low for Associated Bank’s CDs, saving, and money market accounts, and various fees apply, but they offer stellar checking accounts that make digital banking easy.
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Final Thoughts
To recap, Associated Bank presents a secure and regulated path towards cryptocurrency trading by providing access to reputable platforms like Kraken. With Kraken's extensive range of more than 200 digital assets and committed adherence to regulatory compliance, it's an ideal choice for American investors. It is one of the few exchanges worldwide that regularly undergo audits, ensuring the safety of users' assets.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
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