Summary: Truist Bank customers can effortlessly trade cryptocurrencies. While the bank does not offer this service within its banking system, it enables its account holders to securely transfer U.S. dollars to digital currency exchanges under the regulation of the FinCEN. This method aligns with the bank’s commitment to adhering to the strict financial laws of the United States. In turn, it establishes a secure and compliant platform for its users’ transactions.

In our analysis of different exchanges for crypto investment, eToro proved as the best choice for Truist Bank clients. It permits immediate and free USD transfers, and it is widely known for its relatively low fees. Fully registered with U.S. authorities, including the FinCEN, eToro offers an extensive range of digital assets and additional financial instruments. In addition, it provides features like smart portfolios and copy trading functionalities.

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Can I Buy Bitcoin with Truist Bank?

Yes, Truist Bank customers can participate in digital asset investments by registering with a USA-based cryptocurrency exchange and transferring funds from their bank account to purchase tokens like Bitcoin. Although the bank doesn't provide a direct trading feature for digital currencies through its own interface, it allows transactions to external platforms authorized by the Financial Crimes Enforcement Network (FinCEN). It’s best for clients to select an exchange that supports USD deposits to minimize conversion fees.

How to Buy Crypto with Truist Bank

If you want to invest in cryptocurrencies from your Truist Bank account, we recommend using a digital asset exchange registered with the Financial Crimes Enforcement Network. Our team has chosen eToro as the leading option, enabling you to deposit USD for free using ACH transfer, wire transfer, PayPal, or debit and credit cards. When you move the funds to the platform, you can buy a broad range of tokens, including BNB, Dogecoin, Pepe, and more.

Here's a brief guide with four simple steps to help you enter the crypto market:

  1. Setting Up: Sign up on eToro and complete the account verification process.
  2. Adding Funds: Select 'Deposit Funds,’ choose your preferred payment method, and transfer U.S. dollars from your Truist Bank account.
  3. Choosing A Token: Use the platform’s interface to find the digital currency you want to invest in, and then choose 'Trade.'
  4. Wrapping Up: Specify the amount of USD you want to invest and proceed by clicking 'Open Trade.'
How to Buy Crypto with Truist Bank.
How to Buy Crypto with Truist Bank.

Truist Bank Cryptocurrency Policy

Truist Bank actively embraces digital assets, helping its clients join the cryptocurrency market. It enables this by securely connecting its customers with platforms approved by the Financial Crimes Enforcement Network. We highlight eToro as the natural choice for American investors. eToro is an exchange registered with the FinCEN that complies with U.S. financial regulations. Its headquarters is at 221 River Street, 9th Floor, Hoboken, NJ 07030, USA.

Digital Asset Investing Fees

Cryptocurrency exchanges can imply fees on transactions. If you are new to trading, it would be best to explore these costs before investing. This way, you’ll be able to make more informed and strategic decisions. Here’s a brief overview to get you started:

  • Transaction Expense: On platforms like eToro, you can expect to pay around 1% for buying or selling tokens.
  • Deposit Fee: The charges for funding your account depend on the payment method you use. For example, ACH transfers or bank deposits are usually less expensive than credit or debit card transactions.
  • Withdrawal Cost: Withdrawing your digital assets typically incurs expenses, which differ based on the coin. For widely used ones like Bitcoin, a standard rate is common, often near 0.0005 BTC.

Choosing eToro for crypto trading through a Truist Bank account can be a smart decision. This platform not only has a huge portfolio of digital currencies but also ensures a competitive fee policy and clear pricing. Additionally, its compliance with U.S. financial regulations guarantees the safety of your funds.

What is 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.

Truist Bank: Home Page.
Truist Bank: Home Page.

Final Thoughts

In summary, Truist Bank grants its account holders a convenient way into the cryptocurrency market by enabling secure transfers to FinCEN-registered exchanges. Our top pick for these transactions is eToro for its broad range of digital assets and straightforward navigation, making it suitable for beginners and experienced traders alike. Additionally, it provides competitive fees and unique features like social trading and copy trading, enhancing the investment experience.