Crypto Banks
Buy Crypto with First Horizon Bank

Buy Crypto with First Horizon Bank

Fact Checked
March 15, 2023
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Summary: First Horizon Bank does not support cryptocurrency investing services through its online banking platform. This means that investors will need to sign up with a licensed crypto broker to deposit USD with an ACH Transfer from their First Horizon account.

If you are looking to get started quickly, we recommend the eToro platform. Their platform offers fast and free bank transfers from First Horizon Bank to trade over 70 cryptos and thousands of stocks, ETFs and other assets The eToro exchange is licensed and regulated by FinCEN in the USA and boasts over 10 million users.

Table of Contents

Best Crypto Exchange for First Horizon Bank

Platform Highlights

  • Fast and free US Dollar deposits for First Horizon Bank customers.
  • Trade over 4000 assets including Crypto, Stocks, and more.
  • Licensed and regulated by both the FinCEN and the FINRA.
eToro - First Horizon Bank
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Audited Proof of Reserves
Audited Proof of Reserves

How to buy Crypto with First Horizon Bank

The easiest way to invest in Bitcoin, Ethereum and other cryptocurrencies with a First Horizon Bank account is with a licensed exchange that accepts ACH transfers. We recommend the eToro crypto broker because they offer instant and free USD deposits via ACH, debit card or credit card from a First Horizon bank account. They are also a well-regulated and audited platform that are safe for investors to use as a custodian of their funds.

You can get started in 4 simple steps:

  1. Create an account on eToro and complete your verification (personal or company).
  2. Select the 'Deposit Funds' button at the bottom of your eToro Dashboard.
  3. Connect your First Horizon Bank account or Debit/Credit Card to quickly deposit US Dollars.
  4. The final step is to find the Cryptocurrency you want to buy and execute your trade.
Buy Crypto First Horizon Bank.
Buy Crypto with First Horizon Bank.

Is First Horizon Bank Crypto-Friendly?

First Horizon Bank is a crypto-friendly bank in the United States that allows its customers to buy, hold and transact with the digital asset economy. The bank does not have a history of freezing customer accounts that are depositing or withdrawing funds from licensed crypto brokers in the country. This means that investors are safe to deposit funds into regulated and trusted exchanges in the country.

What are the Fees?

The fees associated with investing in crypto assets differ among exchanges. However, eToro stands out as one of the more cost-effective platforms in the US, offering zero-fee deposits, commission-free trading, and tight spreads around 1% depending on the specific cryptocurrency you decide to trade. This pricing structure is considerably more competitive compared to well-known retail brokers like Coinbase and Kraken, which charge over 1.49% per trade.

About First Horizon Bank

First Horizon Bank is a regional banking institution that serves customers in the southeastern United States. The bank operates more than 200 branches in Tennessee, Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, Missouri, North Carolina, and South Carolina. First Horizon Bank is a subsidiary of First Horizon National Corporation (NYSE: FHN), a leading financial services company headquartered in Memphis, Tennessee

First Horizon offers a full range of banking products and services for personal and business customers, including checking and savings accounts, loans and credit products, online and mobile banking, and more.  The bank also offers a variety of specialized services, such as investment and wealth management, trust and estate planning, and commercial banking.

First Horizon Online Banking.

Final Thoughts

In conclusion, if you're a First Horizon Bank customer interested in investing in cryptocurrency, it's important to note that the bank does not offer this service through its online banking platform. However, you can easily deposit USD with a licensed crypto broker like eToro, which offers fast and free bank transfers and is a well-regulated and safe platform for investors. With eToro, you can buy and trade over 70 cryptos, as well as thousands of stocks, ETFs, and other assets, with zero deposit fees and commission-free trading. As a crypto-friendly bank, First Horizon does not freeze accounts of customers transacting with licensed crypto brokers.

Adrian Graham

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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