Home
»
Crypto Banks
»
How to buy Crypto with Flagstar Bank

How to buy Crypto with Flagstar Bank

Adrian Graham
Fact Checked
Aug 30, 2022

Summary: Flagstar Bank does not directly offer cryptocurrency services for their customers to buy or sell Bitcoin and other Digital Assets.

This means that Flagstar Bank account holders will need to deposit USD from their Flagstar Online Banking platform to a licensed exchange like eToro US to buy Crypto.

Table of Contents

eToro Platform Highlights

Platform Highlights

  • Fast and Cheap US Dollar deposits from US Banks and ACH Transfer.
  • Trade over 70 Cryptocurrencies on a trusted and regulated platform with low fees.
  • Special Offer: Deposit $100 and get $10 Free.

Can I buy Crypto with Flagstar Bank?

Flagstar Bank does not offer any services via their online banking platform for their customers to buy and sell digital assets. They also do not support cryptocurrency custody services, which means you cannot store your digital assets with your bank.

This ultimately means that customers will need to sign up to an SEC licensed & registered trading platform to trade Crypto. Through this method, Flagstar Bank account holders can deposit US Dollars onto a platform to buy and sell cryptocurrencies like Bitcoin, Ethereum, Solana, Avalanche, and more.


How to buy Crypto with Flagstar Bank Online

The easiest way to buy Crypto with a Flagstar Online account is through a trusted cryptocurrency exchange in the USA like eToro. Their platform offers fast and cheap USD deposits from Flagstar Bank to trade over 60 Cryptocurrencies and thousands of Stocks, ETFs, Commodities, Bonds, Treasury Notes, and much more.

You can get started with this simple guide:

Step 1: Sign up to the eToro US trading platform and verify your identity.

Step 2: Select the 'Deposit Funds' button on your eToro Dashboard.

Flagstar Bank eToro

Step 3: Select 'USD' as your Fiat currency and 'Bank Transfer' to send funds from your Flagstar Bank Online account.

Flagstar Bank deposit USD

Step 4: Login to your Flagstar Bank account and send USD to the direct deposit details provided to you by eToro.

Flagstar Bank USD deposit to buy Crypto

Step 5: Once the money is in your account, you will be able to buy or sell any asset available on the platform for zero commissions.

Once you complete your purchase of a Crypto like Bitcoin, Ethereum or Solana - it will automatically be stored in your eToro Managed Crypto Wallet for secure custody. You can withdraw it onto a personal wallet, or to another exchange at any time.

Is Flagstar Bank Crypto Friendly?

Flagstar Bank is one of the few remaining major banks in the United States that has not yet taken a stance on cryptocurrency. This leaves many crypto enthusiasts wondering if Flagstar Bank is crypto friendly. The short answer is that we don't know. Flagstar has not made any public statements about its stance on cryptocurrency, so we can only speculate.

However, there are a few clues that suggest Flagstar may be open to working with cryptocurrency companies. For one, the bank is a member of the Blockchain Consortium, which is a group of banks and financial institutions that are exploring blockchain technology. They do allow customers to withdraw USD funds onto licensed and regulated trading platforms, so you should be safe in that regard.

About Flagstar Bank

Flagstar Bank is a bank that operates in the United States. It offers a variety of banking services, including checking and savings accounts, loans, and credit cards. Flagstar Bank was founded in 1987 and is headquartered in Troy, Michigan.

If you're looking for a bank with a wide range of services and a long history, Flagstar Bank may be a good option for you. In this short overview, we'll cover the bank's history, services, and fees to help you decide if it's the right fit for your needs.

Flagstar Bank was founded in 1987 and is headquartered in Troy, Michigan. The bank has over 100 branches in Michigan, Indiana, and Ohio. Flagstar Bank is a subsidiary of Flagstar Bancorp, Inc., a bank holding company that is listed on the New York Stock Exchange.

The Bank offers a wide range of banking services, including checking and savings accounts, loans, and credit cards. The bank also offers investment products and services, such as mutual funds and annuities. Flagstar Bank charges fees for some of its services, including monthly maintenance fees on checking and savings accounts, overdraft fees, and ATM withdrawal fees. The bank also charges interest on loans. Flagstar Bank does not charge annual fees on its credit cards.

Adrian Graham

Co-Founder & former banker turned Full-Time DeFi analyst and researcher. Left traditional finance to pursue my interest in digital assets and decentralized finance.

Twitter
View Posts