Summary: Varo Bank does not directly offer cryptocurrency trading services through its online banking platform.
Customers of Varo will need to sign up to a licensed and regulated crypto exchange like eToro to deposit USD and invest in digital assets.
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Can I buy Crypto with Varo Bank?
Unfortunately, Varo Bank does not offer any cryptocurrency services. This includes digital asset trading and crypto custody, which means you cannot buy or store your cryptocurrencies with the bank.
That said, Varo Money is crypto-friendly and does allow its customers to deposit US Dollars (USD) into licensed trading platforms to invest in the asset class.
How to buy Crypto with Varo Bank online
The easiest way to invest in cryptocurrencies online via a Varo Bank account is with a trusted trading platform like eToro. They offer fast and cheap USD deposits from Varo accounts to trade over 65 cryptocurrencies and thousands of Stocks, ETFs, Commodities, and more.
You can follow this simple guide to get started from your Varo account:
- Step 1: Sign up to the eToro USA trading platform and verify your identity as a US citizen.
- Step 2: Select the 'Deposit Funds' button at the bottom of your eToro Dashboard.
- Step 3: Select USD and your preferred deposit method to start buying Crypto via Varo Money (bank transfer, credit card/debit card or PayPal).
- Step 4: Once the USD has landed in your account, you can buy, sell and trade any of the thousands of assets listed on their platform.
About Varo Bank
Varo Bank is a digital bank headquartered in San Francisco, California. Varo was founded in 2015 by CEO Colin Walsh and COO Ramen Koodli. Varo has no brick-and-mortar locations but offers a fee-free checking account, a savings account that earns interest, and personal loans.
Varo Money is a safe bank. Varo Bank is FDIC insured and all deposits are protected up to $250,000. Varo Bank uses 256-bit SSL encryption to protect your personal information and keeps your money in FDIC-insured banks.
Varo also offers early direct deposit so you can get paid up to 2 days early if your employer offers direct deposit. Additionally, there are no overdraft fees, foreign transaction fees, or monthly maintenance fees.