Summary: Arvest Bank customers can easily invest in digital assets by connecting to regulated cryptocurrency exchanges. While the bank doesn't offer direct trading services, it does permit users to connect with platforms recognized by the Financial Crimes Enforcement Network (FinCEN), which accept USD deposits. Once funds are transferred, they can be used to purchase a wide range of digital assets.

After comprehensively evaluating available exchanges, we chose Kraken as the optimal choice for Arvest Bank clients. Headquartered in the United States and operating under FinCEN's oversight, Kraken provides trading and staking services for over 200 crypto assets. It is considered one of the country’s most secure platforms as it provides regularly audited proof-of-reserves.

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Can I Buy Bitcoin with Arvest Bank?

Yes, Arvest Bank account holders can acquire Bitcoin and a range of other digital currencies. Users simply need to find a legitimate cryptocurrency exchange based in the US that is regulated by FinCEN and other relevant financial authorities. Once located, USD from your Arvest Bank account can be transferred to the trusted crypto investing platform and used for trading assets.

How to Buy Crypto with Arvest Bank

Arvest Bank patrons can invest in digital currencies through a regulated exchange like Kraken, located in the United States and supervised by FinCEN. It offers US investors the opportunity to buy, trade, sell, and stake more than 200 crypto tokens. Additionally, it allows USD deposits directly from Arvest Bank accounts using ACH, wire transfers, and debit or credit cards. 

For American investors interested in trading crypto assets using their Arvest Bank accounts, here’s a straightforward guide:

  1. Account Setup: Start by signing up for an account on Kraken. Finish the identity verification process for individual or business accounts.
  2. Currency Selection: After login, navigate to the deposit section and choose your preferred currency, such as USD.
  3. Deposit Funds: Select a convenient payment method like ACH transfer, wire transfer, or credit card.
  4. Crypto Purchase: Finally, select the cryptocurrency you wish to purchase and verify the transaction.
How to Buy Crypto with Arvest Bank.
How to Buy Crypto with Arvest Bank.

Arvest Bank Cryptocurrency Policy

Arvest Bank adopts a progressive stance towards cryptocurrency policy, endorsing financial advancement while following regulatory guidelines. The bank permits its users to invest in crypto tokens via credible platforms like Kraken, which complies with all U.S. Securities and Exchange Commission (SEC) regulations and is registered under Payward, Inc., with FinCEN as a Money Services Business. (MSB Registration No. 31000239561651).

Digital Asset Investing Fees

Understanding the costs incurred when trading is vital for maximum returns. For instance, Kraken has specific fees which can impact your financial performance. Here’s a simple guide to the fees you should note:

  • Spot Trading Fees: Kraken uses a sliding scale for spot trading fees. For order placers (makers), the rates start at 0.16% and at 0.26% for order acceptors (takers). These fees decrease as trading volumes go up, enhancing your profitability.
  • Deposit Fees: While Kraken allows you to deposit digital currencies without charges, adding fiat money to your account involves a nominal fee, which varies based on the payment method like ACH transfers or credit cards. Awareness of this is crucial, specifically if you often use fiat.
  • Withdrawal Costs: The fees for fund withdrawals are competitive and differ depending on the cryptocurrency type. For example, withdrawing Bitcoin will cost a flat rate of 0.0005 BTC.

To sum up, Kraken offers reasonable trading fees that become increasingly attractive with higher trading volumes. The platform's deposit and withdrawal fees are also competitive, making it an appealing option for investors intent on optimizing their returns.

What is Arvest Bank?

Arvest Bank is a regional financial institution headquartered in Bentonville, Arkansas, offering a comprehensive range of banking services, including personal and business accounts, loans, and investment options. Established in 1961, the bank is the oldest in the state and has grown to operate more than 270 branches across Arkansas, Oklahoma, Missouri, and Kansas. 

Known for its strong focus on community engagement and customer service, Arvest Bank has garnered a reputation for its commitment to financial literacy and local development. With assets exceeding $23 billion, the bank continues to be a reliable choice for individuals and businesses seeking personalized financial solutions.

Arvest Bank: Home Page.
Arvest Bank: Home Page.

Final Thoughts

To wrap up, Arvest Bank facilitates access to FinCEN-recognized digital asset platforms such as Kraken, thereby providing a regulated, secure pathway for its customers interested in trading cryptocurrencies. Kraken is impressive due to its selection of over 200 tokens and a firm commitment to regulatory adherence. The frequent audits ensure all user assets are fully covered, ensuring the platform's trust value among investors.