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How to Buy Crypto with Bank of Hawaii

How to Buy Crypto with Bank of Hawaii

Fact Checked
February 26, 2023
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Summary: Bank of Hawaii does not offer direct support for buying Bitcoin and cryptocurrencies directly through its online banking platform. This means that investors will need to sign up to a regulated digital asset exchange in Hawaii and the USA that will allow you to deposit funds from your bank account to buy & sell cryptocurrencies.

Based on our analysis of over 30 exchanges, we found that Uphold was the best option for Bank of Hawaii account holders. Their platform offers fast and free USD deposits from any US bank account to trade over 250 crypto assets with zero fees. Uphold is licensed & regulated by FinCEN and are the best low-fee alternative to expensive brokers like Coinbase and eToro.

Table of Contents

Best Crypto Exchange for Bank of Hawaii

Platform Highlights

  • Free and instant USD deposits via Bank of Hawaii to Trade 250+ Cryptocurrencies.
  • Regulated by the FinCEN & SEC in the USA with audited Proof-of-Reserves.
  • Trusted by over 10 million retail and institutional investors in the United States.
Uphold - Bank of Hawaii
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Audited Proof of Reserves
Audited Proof of Reserves

How to Buy Bitcoin or Crypto with Bank of Hawaii

As outlined above, the best way to buy digital assets with a Bank of Hawaii account is through a regulated broker that is licensed by FinCEN. With this method, investors can easily connect their Bank of Hawaii account, or deposit funds with a Debit Card/Credit Card. Our expert team found that Uphold was the best option after comparing their deposit speed, fees & available assets with other top platforms.

Here is a simple step-by-step guide to getting 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 Uphold (USD + 30 more).
  3. Deposit Funds: Connect your Bank of Hawaii account via Plaid to quickly deposit USD.
  4. Buy Crypto: The final step is to find the crypto you want to buy and execute your trade.
Buy Crypto with Bank of Hawaii.
Deposit USD and Buy Crypto with Bank of Hawaii.

What are the Fees to Buy Crypto?

The fees to invest in cryptocurrencies will vary depending on which platform you choose.  At Uphold, they offer a 0% fee on USD deposits with Bank of Hawaii and some of the lowest trading fees in the industry. Their platform also boasts industry leading fees and spreads that average at around 0.5% per trade, which is significantly lower than alternatives like Coinbase, eToro and Kraken who charge in excess of 2%.

Is Bank of Hawaii Crypto-Friendly?

Bank of Hawaii's website states that they do not have a policy against cryptocurrencies, and customers may be able to use their Bank of Hawaii debit or credit card to purchase cryptocurrencies on FinCEN-licensed exchanges that are approved in the United States. It's important to note that transactions involving cryptocurrencies are subject to Bank of Hawaii's anti-money laundering (AML) and Know Your Customer (KYC) policies, and customers must comply with these requirements to transact with the bank.

Final Thoughts

Bank of Hawaii does not offer direct support for buying or selling cryptocurrencies, so investors will need to sign up for a regulated digital asset exchange with access to USD deposits from Bank of Hawaii. After reviewing over 30 exchanges, our team found that Uphold was the best choice for Bank of Hawaii account holders offering fast deposits and low-fees across over 250 crypto assets. Uphold is fully licensed and regulated by FinCEN, so customers can rest assured that their funds are safe and secure.

Andrew Chen

Andrew Chen is a lead editor and auditor of content for Buy Bitcoin Bank, with a Masters of Computer Science and extensive knowledge in cryptocurrency and blockchain technology. He has helped ensure the accuracy and quality of the platform's educational resources for new and experienced investors in the crypto space.

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