How to Buy Crypto with Park National Bank

What is Park National Bank

Park National Bank is a national bank headquartered in Columbus, Ohio. It is a subsidiary of Park National Corporation, a financial services holding company. The bank was founded in 1908 and has over $8 billion in assets. Park National Bank has over 200 branch locations across the US.

Unfortunately, the bank does not allow the direct investing of cryptocurrencies through its online platform. Not to worry, there are alternative methods to purchasing tokens with the funds in your Park National Bank account. Simply go through a secure, regulated and licensed crypto exchange like eToro. To learn more about eToro, you can visit our eToro Review.

How to Buy Bitcoin with Park National Bank

The best way to buy Bitcoin and other cryptocurrencies with Park National Bank is to go through eToro. On eToro, Park National Bank account holders can deposit USD via Bank Transfer, Credit/Debit Card, PayPal, Neteller & Skrill. Follow the below guide to get started.

1. Sign Up: Create an account on eToro and complete the sign-up process.
2. Deposit USD: Click 'Deposit Funds', pick a method and send USD from Park National.
3. Buy Bitcoin: Look for Bitcoin in the search bar, input the amount and click 'Open Trade'.

Is it expensive to invest in crypto?

Not at all, especially when you use the eToro exchange as it offers multiple free and instant deposit methods for Park National Bank account holders. Although deposits are free on eToro, withdrawals are subject to a $5 fee. Additionally, there is a 1% fee any time you sell or buy a cryptocurrency. This is much lower than the industry average.

Can I legally buy crypto in the US?

Yes, you can legally buy crypto in the United States. There are no federal or state laws that prohibit the purchase of cryptocurrencies. While there are no laws prohibiting the purchase of cryptocurrencies, it is important to note that some states have enacted their own regulations.

For example, New York state has a BitLicense requirement for businesses that deal in digital currencies. Businesses that do not obtain a license may be subject to fines and other penalties. Make sure to do your own research in the state you are residing in.