Summary: USAA Bank currently does not offer cryptocurrency services directly through its online or mobile banking platforms. As a result, customers must sign up with a regulated crypto broker in the United States to purchase and trade digital currencies like Bitcoin or Ethereum.

Our top suggestion for USAA Bank clients is eToro. This platform enables quick and cost-effective ACH Transfers, Debit Card, or Credit Card deposits from USAA Bank's Online Banking, giving users access to the top cryptocurrencies with low fees and tight spreads. eToro is regulated by FinCEN in the USA and is a trusted platform to buy and custody crypto assets.

Best Crypto Exchange for USAA Bank
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Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.
Table of Contents

Can I Buy Bitcoin with USAA?

USAA does not directly support the buying or selling of cryptocurrencies, including Bitcoin, on behalf of its customers. Nevertheless, USAA does not explicitly prevent its members from acquiring cryptocurrencies through recognized U.S. cryptocurrency exchanges. It's essential for USAA members to work with an exchange that has obtained approval from regulatory bodies like the FinCEN, to guarantee the security of the platform and adherence to U.S. regulations pertaining to digital assets.

How to Buy Bitcoin and Crypto with USAA

The simplest and most secure way to invest in digital currencies using a USAA account is through a FinCEN-sanctioned cryptocurrency exchange. USAA members can use options such as ACH Transfer, debit, or credit card to transfer US Dollars from their account to an approved platform for purchasing and trading crypto assets, including Bitcoin, Ethereum, and more.

Here's a straightforward guide to help you get started:

  1. Register for a free account on eToro and fulfill the verification requirements.
  2. Select 'Deposit Funds', choose a method, and transfer USD from USAA.
  3. Utilize the search bar to locate the desired token, then click 'Trade'.
  4. Input the amount of USD you wish to invest and press 'Open Trade'.
Buy Bitcoin and Crypto with USAA.
Buy Bitcoin and Crypto with USAA.

USAA Cryptocurrency Policy

USAA, a top-tier financial service provider in the United States with a strong military community focus, holds an accommodating position towards cryptocurrencies. They allow their members to venture into digital currency investments via cryptocurrency exchanges authorized by the Financial Crimes Enforcement Network (FinCEN). This provides an attractive alternative for those seeking to hedge against traditional banking volatility or diversify their portfolios with Bitcoin and other virtual assets.

Members of USAA can seamlessly access cryptocurrency markets through reputable platforms such as eToro and Uphold. These platforms enable swift and secure USD funding via mechanisms like ACH transfers, debit cards, or credit cards.

What is USAA?

USAA is a United States-based financial services company that offers banking, insurance and investment products to 11.8 million current and former members of the U.S. military and their families. USAA was founded in 1922 by a group of 25 Army officers to provide affordable insurance to military personnel.

In terms of banking, USAA offers checking and savings accounts, credit cards, loans and mortgages. They have over 2,700 physical branches across the country and 24/7 customer support. Their mobile app has been rated 4.8 out of 5 stars on the App Store with over 100,000 ratings.

USAA Banking
The USAA online banking platform.

Final Thoughts

In conclusion, while USAA doesn't directly offer the buying or selling of Bitcoin or other cryptocurrencies, it does not prevent its members from participating in the crypto market via approved exchanges. Following FinCEN regulations, USAA members can use platforms like eToro or Uphold to invest in digital currencies, using methods such as ACH transfers, debit, or credit cards. This supports an open avenue for USAA members to diversify their portfolios, providing an alternative hedge against traditional banking volatility. Always remember to carry out thorough research and understand the risks involved when venturing into cryptocurrency investments.