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 will need to register with a FinCEN-approved exchange to invest in these digital assets.
Our top recommendation for US investors is eToro. Their platform supports quick and free USD transfers from Chime Bank to facilitate trading, offering a broad range of cryptocurrencies with no fees and competitive spreads. eToro is licensed by FINRA and FinCEN in the United States, and it's a trusted platform for over 10 million users in the country.
Best Crypto Exchange for Chime Bank
Platform Highlights
- Free and instant USD deposits for Chime Bank customers to buy 4000+ assets.
- Invest in several asset classes such as Crypto, Stocks, Commodities, and more.
- Licensed with FinCEN as a Money Services Business & is a member of FINRA.
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Can I buy Crypto with Chime Bank?
Currently, Chime Bank doesn't offer cryptocurrency transactions through its online banking, mobile app, or physical branches. If you're keen on exploring the cryptocurrency market, consider using a reliable, US-regulated crypto exchange. After depositing USD into your chosen platform, you can then buy, sell, and trade cryptocurrencies within US legal guidelines.
How to buy 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'.
Is Chime Bank Crypto-Friendly?
Yes, Chime is a crypto-friendly bank that allows its customers in the United States to deposit and withdraw US Dollars from regulated digital asset service exchanges. However, Chime customers must use FINRA-regulated platforms like eToro in order to buy Crypto. We suggest avoiding off-shore and unregulated exchanges like Binance, which may result in getting your bank account frozen.
About 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.
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Final Thoughts
In conclusion, Chime itself does not offer direct access to the Cryptocurrency market, but its customers can easily invest in digital assets by transferring USD to a licensed and regulated trading platform. Our team recommends using the eToro exchange as it offers the lowest trading fees in the US, free deposits and a wide range of 4000 assets to buy and sell.
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Author
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.
