Crypto Banks
Buy Crypto with Wells Fargo

Buy Crypto with Wells Fargo

Alysha Jane
Fact Checked
Feb 3, 2023

Summary: Wells Fargo does not offer cryptocurrency investing and trading as a product or service on their online banking platform. That said, they do allow customers to transfer funds from their bank accounts to FinCEN-licensed crypto exchanges in the country to invest in the asset class.

Our top pick for Wells Fargo account holders is Uphold. Their platform offers fast and cheap USD deposits to trade & stake 200+ cryptocurrencies with zero fees. The Uphold exchange is licensed and regulated by FinCEN, making them a safe way to get started.

Table of Contents

Best Crypto Exchange for Wells Fargo

Platform Highlights

  • Trade and stake over 200 cryptocurrencies with zero fees.
  • Fast and free deposits from Wells Fargo Bank via ACH Transfer, Debit Card, Credit Card & more.
  • Regulated by FinCEN in the USA with Audited Proof-of-Reserves.
Uphold - Wells Fargo
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Audited Proof of Reserves
Audited Proof of Reserves

How to buy Crypto with Wells Fargo Bank

We recommend that Wells Fargo bank account holders use a trusted digital asset exchange like Uphold 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 or eToro.

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

  1. Sign Up: Create an account on Uphold and complete your verification (personal or company).
  2. Connect Account: Select the currency you want deposit on the Uphold Platform (USD, EUR + 30 more).
  3. Deposit Funds: Connect your Wells Fargo Bank account or Debit/Credit Card to quickly deposit your selected fiat currency.
  4. Buy Crypto: The final step is to find the cryptocurrency you want to buy and execute your trade.
Deposit USD from Wells Fargo Bank to buy Crypto
Deposit USD from Wells Fargo Bank.

Is Wells Fargo Crypto-Friendly?

Wells Fargo has not taken an official position on cryptocurrencies. However, the bank has indicated that it is closely monitoring developments in the cryptocurrency market and is open to the potential use of cryptocurrencies in the future.

It is important to note that Wells Fargo, like other US banks, does not 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.

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.

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 Online Banking.

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.

Final Thoughts

In conclusion, Wells Fargo does not currently offer cryptocurrency products or services, but they do allow customers to transfer funds from their bank accounts to regulated crypto exchanges in the US. For those looking to buy crypto, our recommended option is Uphold, a licensed and regulated platform that offers fast and cheap USD deposits and over 200 cryptocurrencies to trade and stake.

Alysha Jane

I am a Finance graduate and market analyst that enjoys researching and writing about digital assets and how they intersect with Macro.

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