Summary: Chime Bank does not provide options for customers to purchase cryptocurrencies such as Bitcoin and Ethereum via their online banking app. Consequently, Chime Bank customers must register with a FinCEN-approved exchange to invest in these digital assets.
Following a detailed investigation into the countries leading exchanges, our expert team concluded that eToro is the number one option for Chime Bank customers. The platform supports quick and free USD transfers to facilitate trading, offering a broad range of crypto with competitive spreads. eToro is licensed by FinCEN in the US, and it's a trusted platform for over 10 million users nationwide.
- Free and instant USD deposits with Chime bank transfer (ACH), credit/debit cards and more.
- Trade over 25 crypto assets with industry-leading fees and spreads.
- eToro USA LLC is registered and regulated with FinCEN.
Can I Buy Bitcoin with Chime Bank?
Chime Bank doesn't offer cryptocurrency transactions through its mobile banking services. If you want to explore the digital asset market, we recommend using a reliable, licensed digital currency exchange in the United States. After depositing USD into your chosen platform, you can buy, sell, and trade cryptocurrencies like Bitcoin and Ethereum within US legal guidelines.
How to Buy Bitcoin and Crypto with Chime Bank
The easiest way to buy cryptocurrencies with Chime online is by depositing USD from your account into a trusted brokerage platform like eToro. Chime bank account holders can transfer funds via multiple payment methods, including bank transfer, credit/debit card, PayPal, Skrill, and more.
Chime Bank customers can buy crypto with this quick and easy guide:
- Create a free account on eToro and complete the verification requirements
- Click 'Deposit Funds', select a method, and transfer USD from Chime Bank.
- Go to the search bar, find the token you want to buy, and tap 'Trade'.
- Input the amount you want to invest in the token and tap 'Open Trade'.
Chime Bank Cryptocurrency Policy
Chime Bank, a renowned digital bank in the United States, upholds a thoughtful approach towards cryptocurrencies. They provide their customers with avenues to venture into digital currency investments via cryptocurrency brokers authorized by the Financial Crimes Enforcement Network (FinCEN). This enables customers to consider investment alternatives and hedge risks in traditional banking by diversifying their portfolios with Bitcoin and other digital assets.
Members of Chime Bank can seamlessly partake in cryptocurrency exchanges via recognized platforms such as eToro or Kraken. These platforms enable rapid and secure funding in USD via Chime's deposit options of ACH transfers or Chime debit or credit card, streamlining the process for clients to immerse themselves in the expanding world of virtual currency.
What is Chime Bank
Chime is a digital banking platform that offers mobile-only banking services, including a checking account with no monthly fees, a savings account with a competitive interest rate, and a debit card that can be used worldwide. It does not have physical branches, which allows it to offer low fees and competitive interest rates.
It's known for its user-friendly mobile app, which allows customers to easily manage their accounts, view transactions, and deposit checks using their smartphones. Additionally, the app includes budgeting tools that help customers track their spending and save money. The bank also offers a range of financial education resources to help customers better understand their finances and make informed decisions.
Final Thoughts
In conclusion, while Chime Bank doesn't directly facilitate cryptocurrency transactions, it provides a secure and seamless pathway for its users to invest in digital currencies via licensed brokers. By making use of reliable platforms such as eToro, Chime Bank users can effortlessly deposit funds and partake in the growing world of digital assets.
This approach not only offers a chance to diversify their investment portfolios but also allows them to explore alternative financial solutions beyond traditional banking. Chime's proactive stance towards cryptocurrencies reinforces its commitment to empowering its customers in the evolving landscape of financial services.
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.
