How to buy Crypto with Wells Fargo

Can I buy Bitcoin or Crypto with Wells Fargo?

Wells Fargo Bank does not directly offer cryptocurrency trading services for its customers to buy and sell digital currencies through their online banking platform. That said, Wells Fargo are a crypto-friendly bank and do allow customers to deposit US Dollars (USD) into licensed and regulated trading platforms to invest in the asset class.

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How to buy Crypto with Wells Fargo Bank online

We recommend that Wells Fargo bank account holders use a trusted digital asset exchange like eToro to buy and sell cryptocurrencies. Their platform offers fast and free deposits for Wells Fargo account holders and has significantly cheaper fees than popular exchanges like Coinbase.

The guide below is a quick overview on how to get started from your Wells Fargo Online account.

1. Create an account: Sign up to the eToro US trading platform and verify your personal or company identity
2. Deposit funds: Select the 'Deposit Funds' button on the bottom of your screen to deposit USD via a Wells Fargo bank transfer, or Wells Fargo Credit Card/Debit Card.
3. Find your Crypto: Once the USD hits your account, find the Crypto or other asset you want to buy on the eToro platform with their 'Discover' tab.
4. Execute your trade: Input the USD amount you want to invest and execute your trade.

Is Wells Fargo Crypto Friendly?

Wells Fargo does not currently have any internal banking policies that prohibits their customers from using regulated cryptocurrency exchanges in the United States.

This ultimately means that you can freely deposit and withdraw US Dollars into secure and trusted exchanges. Both Coinbase and eToro are great options, but just be mindful that Coinbase charges a 2% fee per trade.

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Wells Fargo Crypto Fund

In late 2021, Wells Fargo launched a Bitcoin Fund that allows their institutional customers to access BTC directly through their private banking accounts. This offering is only available to high-net worth investors who pass a certain test to verify they are sophisticated market participants.

The Bitcoin Fund that was released in partnership with NYDIG is quite expensive and simply tracks the price of Bitcoin. Clients pay a 2% management fee for the convenience of going directly through Wells Fargo and is best suited for people who are hesitant to use exchanges.

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About Wells Fargo Bank

Wells Fargo Bank is a national bank in the United States, headquartered in San Francisco, California. It is the fourth largest bank in the US by assets and the second largest by market capitalization. Wells Fargo provides banking, investment, mortgage, and consumer and commercial finance products and services through more than 8,700 locations, 12,500 ATMs, and millions more online.

Their bankis licensed by the US government and regulated by both federal and state agencies. The bank has been in operation since 1852 and has a long history of serving its customers well. Wells Fargo is a publicly traded company, listed on the New York Stock Exchange under the ticker symbol Wells Fargo & Company (WFC).

Wells Fargo offers a wide range of products and services, including checking and savings accounts, credit cards, loans, mortgages, and investment products. The bank also offers online and mobile banking services. Wells Fargo has a strong focus on customer service and providing a great experience for its customers.

Overall, Wells Fargo Bank is a safe and reliable choice for your banking needs. The bank has a long history of serving its customers well and offers a wide range of products and services. If you are looking for a comprehensive banking solution, they are one of the best options in the country.