Summary: Currently, Synchrony Bank provides no tools for clients to conduct cryptocurrency transactions directly via their online banking platform. Synchrony Bank customers interested in digital assets must transfer USD from their accounts into a reputable crypto exchange.
For investors keen to start their cryptocurrency journey, we recommend eToro, holding a FinCEN license and enabling immediate USD deposits from Synchrony Bank. With eToro, clients can trade leading cryptocurrencies like Bitcoin, Ethereum, Uniswap, Avalanche, and others, all at competitive industry rates.
- Fast and free US Dollar deposits for Synchrony Bank customers.
- Trade over 3,000 assets including Crypto, Stocks, and more.
- Licensed and regulated by both the FinCEN and the FINRA.
Can I Buy Bitcoin with Synchrony Bank?
Synchrony Bank does not currently offer any services that enable its customers to buy or sell Bitcoin, and other cryptocurrencies. This is because their online banking platform does not support digital asset infrastructure like custodial wallets, or token exchanges. The best way to buy crypto with Synchrony Bank online is by depositing USD from your account to an FinCEN-licensed and regulated platform in the USA.
How to Buy Bitcoin and Crypto with Synchrony Bank
The simplest and safest way to invest in digital assets using a Synchrony Bank account is through a cryptocurrency exchange approved by FinCEN. Synchrony Bank clients can transmit US Dollars via ACH Transfer, debit, or credit card from their account to a certified platform for purchasing and trading crypto assets like Bitcoin, Ethereum, and more.
Begin in minutes with our user-friendly guide:
- Create a free account on eToro and complete the verification requirements.
- Click 'Deposit Funds', pick a method and transfer USD from Synchrony Bank.
- Go to the search bar, find the token you want to buy and click 'Trade'.
- Enter the amount you want of USD you want to invest and tap 'Open Trade'.
Synchrony Bank Crypto Policy
Situated in Stamford, Connecticut, Synchrony Bank maintains a receptive viewpoint on cryptocurrencies. It allows its customers to explore digital assets through FinCEN-sanctioned crypto exchanges, providing a safeguard against conventional finance and banking unpredictability and portfolio enhancement with Bitcoin and other digital currencies.
Synchrony Bank clients can participate in crypto trading via platforms such as Kraken and Gemini. These support fast, safe USD transfers via ACH, debit, or credit cards, bolstered by the bank's sturdy infrastructure.
What is Synchrony Bank?
Synchrony Bank is one of the largest banks in the United States. The bank offers a wide range of services including checking, savings, and investments. The bank has over 12 million customers and operates in all 50 states. Synchrony Bank is FDIC insured and is a member of the Federal Reserve System. The bank was founded in 1988 and is headquartered in Stamford, Connecticut.
Final Thoughts
In conclusion, while Synchrony Bank does not directly offer services for purchasing or selling cryptocurrencies, it supports its customers' exploration into the digital asset market. Clients can utilize their Synchrony Bank accounts to transfer USD to FinCEN-approved platforms such as eToro for cryptocurrency investments. This approach allows customers to gain exposure to digital assets like Bitcoin and Ethereum, offering a hedge against traditional finance volatility and an avenue for portfolio diversification.
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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