Founded in 1904, BofA offers a range of banking services and products to individuals, businesses, small and middle-market enterprises, and large corporations. The Bank of America, also known as BofA, is a multinational financial institution and one of the largest banks in the United States. If you are going to invest in digital assets, you must do so through an exchange thatis registered with FinCEN as a Money Services Business and is licensed to operate in the US by FINRA.įurthermore, there is nothing stipulated in the Bank of Americas terms and conditions that would forbid its users from investing in digital assets like Bitcoin or Ethereum.
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They also offer instant and free USD deposits via BofA ACH Transfer to trade any asset available on their platform.īank of America has never restricted its clients from buying and selling cryptocurrencies through authorized and licensed cryptocurrency exchanges in the USA. To avoid high fees, you may consider using a platform like eToro, which has zero fees and tight spreads averaging around 1%.
Popular retail crypto platforms such as Coinbase and Kraken often charge higher fees, which can be as high as 2% per trade when taking into account fees and spreads. Complete the USD deposit and use the funds credited to your account to invest in cryptocurrencies.īank of America fees for investing in cryptocurrency may vary depending on the exchange you use.Select the amount of USD you want to deposit and your preferred deposit method (e.g Bank of America ACH Transfer or Debit/Credit Card).Select the 'Deposit Funds' button on the bottom left of your screen.Visit eToro to sign up and verify your identity.Here is a simple step-by-step guide to get started: With this method, you can quickly connect your account and deposit USD through ACH Transfer, Debit Card, or Credit Card to trade and invest in over 70 cryptocurrencies with no fees in a regulated environment.
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How to Buy Crypto and Bitcoin with Bank Of AmericaĪs outlined above, the easiest way for Bank of America customers to invest in cryptocurrencies is through a regulated third-party platform like eToro. However, Bank of America doesn't directly offer crypto trading, so ensure to use a FINRA-regulated exchange for secure and legal transactions.
Yes, you can buy cryptocurrencies through Bank of America by transferring US Dollars to a US-regulated crypto exchange using various methods like bank transfers or ACH.
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