Summary: Truist Bank does not offer any Cryptocurrency-investment services. The only method available to Truist customers is transferring USD from their account to a FinCEN-licensed Cryptocurrency exchange. Once your funds have arrived on the platform, you can directly buy a variety of Cryptocurrencies like Bitcoin and Ethereum.
We have analyzed the country's top Cryptocurrency investing platforms and found that eToro is the number one pick. eToro is regulated by FINRA and licensed with FinCEN in the United States. It is considered the most secure and trusted digital asset exchange in the world and has been operating since 2007 and has never once been subject to a cyber attack or hacking incident.
Best Crypto Exchange for Truist Bank
Platform Highlights
- Free and instant USD deposits to buy and sell over 4000 assets.
- Trade Crypto, Stocks, Indices, Commodities, ETFs and Fiat Currency.
- Licensed with the FinCEN and registered with the FINRA.
%201.svg)
Can I Buy Crypto with Truist?
Currently, Truist Bank does not support purchasing, trading, or storing of cryptocurrencies through its digital banking services, mobile application, or physical branches. If you're keen to invest in digital currencies, we recommend utilizing a credible, regulated crypto exchange based in the United States. After successfully transferring USD to your selected platform, you are able to securely conduct buying, selling, and trading of cryptocurrencies, adhering to US regulatory standards.
How to Buy Bitcoin and Crypto with Truist Bank
As previously mentioned, the best way to buy Bitcoin, Ethereum, and other Cryptocurrencies with a Truist Bank account or card is through eToro. Truist customers can deposit US dollars to eToro via multiple payment methods including Bank Transfers, ACH Transfers, Credit or Debit Card Deposits or PayPal.
Buy Crypto with Truist Bank in these four simple steps:
- Open a free account on eToro and complete the verification process.
- Click 'Deposit Funds', pick a method and transfer money from Truist 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'.
What are the Fees?
Cryptocurrency investment costs can vary based on the exchange used. eToro, for instance, is cost-effective as it doesn't charge for depositing funds and caps withdrawal fees at $5 per transaction. A 1% trading fee applies to buy/sell actions.
This structure is more affordable compared to platforms like Coinbase and Kraken, which typically charge a 1.49% transaction fee plus an additional 1% spread for retail investors.
Truist Bank Cryptocurrency Policy
Truist Bank is progressively entering the realm of digital currencies, granting its customers the ability to transfer their U.S. dollars to sanctioned cryptocurrency exchanges. This implies that customers can lawfully purchase, trade, and exchange digital currencies such as Bitcoin and Ethereum on platforms that have been approved by U.S. financial regulators.
However, it is crucial to highlight that while Truist Bank is enabling these transactions, they aren't currently providing any distinctive cryptocurrency-specific offerings or services. Furthermore, as of the present moment, they have not made any announcements regarding future plans in this direction.
About Truist Bank
Truist Bank, formerly SunTrust Bank, is a bank headquartered in Atlanta, Georgia that provides financial services for consumers and businesses in the United States. The company operates 2,200 branches and over 4,000 ATMs across 11 southeastern states. The company's history dates back to 1891 when it was founded as the Commercial Travelers' Savings Bank.
In 1902, the bank changed its name to SunTrust Bank and in 1993, the company acquired Crestar Financial Corporation, expanding its operations into Virginia and Washington, D.C. In December 2019, SunTrust announced it would merge with BB&T to form Truist Financial Corporation. Truist Bank is a member of the Federal Deposit Insurance Corporation (FDIC) and is an Equal Housing Lender.
.webp)
Final Thoughts
Truist Bank doesn't directly support cryptocurrency transactions, they do facilitate transfers to regulated exchanges like eToro, a secure and trusted platform for cryptocurrency investment. With eToro's competitive fee structure and comprehensive security measures, Truist customers can safely trade and hold digital currencies like Bitcoin and Ethereum.
While Truist is making strides in the digital currency domain, they currently do not offer any specialized crypto services. As the landscape of cryptocurrency evolves, it's crucial to stay informed about developments within your banking institution and the broader financial market.
Post Tags
Author
Dylan Matthews is the Co-Founder and head of operations at Buy Bitcoin Bank, with a background in engineering and experience as a Prop Trader. He has leveraged his knowledge and skills to build and scale the platform, providing users with a seamless experience for buying and selling cryptocurrency.
