Summary: Banks generally don’t offer crypto trading as part of their platform due to the regulations and complexities that come with setting up a crypto exchange. However, that doesn’t mean you can’t use your Capital One Bank account to buy crypto.
All you need is a reliable and trusted cryptocurrency trading platform. We recommend using eToro as it’s a very well-known exchange (rated 4.2/5 with over 15000 reviews) with a good amount of cryptocurrencies to choose from and great support.
How to buy crypto or bitcoin with Capital One Bank
As stated above, just like with the vast majority of banks, you can’t buy crypto with Capital One Bank on their platform. At the time of writing, banks aren’t implementing crypto trading platforms yet, seemingly because of the extra regulations they need to adhere to, in addition to other complexities when it comes to setting up a cryptocurrency exchange.
However, luckily for us, there are plenty of crypto trading platforms to choose from that you can use to buy bitcoin or any other cryptocurrency you might want.
1. Choose a crypto trading platform
While there are a lot of crypto exchanges, it can get a bit tricky comparing them all as they all offer very similar features. The differentiating factors are mainly fees, the amount of digital assets to choose from, and any special features that the other exchanges don’t have.
The reason we recommend going with eToro is that they have a great combo of global reach (a lot of exchanges only work within specific GEOs), competitive fees, and a few very neat features (like “Copy Trading”, which allows you to copy the trades of other investors on the platform).
Let’s get into it!
2. Create an account on the exchange
The first thing to do is to create an account on the exchange and go through the required verification processes, which should go very smoothly as they’ve got it all streamlined.
3. Transfer funds into the account
Transferring funds from your Capital One Bank account is also pretty easy as eToro supports bank transfer, PayPal, credit/debit card, and a few more deposit methods.
4. Buy crypto
Once the funds are in the account, you can navigate to their markets section, choose your cryptocurrency and hit the buy/trade button.
And that’s it, you now have some crypto, congratulations!
About Capital One Bank
Capital One is the ideal bank for those who are looking for a full-service bank that offers a wide range of no-fee ATMs, as well as access to selected branches.
Capital One Bank ranks among the 10 most important banks in the nation, with branches throughout seven Eastern and two Southern States.
Capital One offers nine CD terms that can be used for six months up to five years. A majority of terms have rates that are comparable to big banks, with no minimum deposit required.
The term length determines the amount of early withdrawal penalties. The early withdrawal penalty for CDs that are less than one-year old is three months. CDs with terms over one year are subject to a penalty of six months.
Capital One 360 checking account offers competitive interest rates and tiered rates that allow those with larger balances earn more. The account is available for free and permits mobile deposit and online bill payments. There's also a 50 check freebie with your first checkbook.
Capital One stopped charging NSF (nonsufficient fund) fees in August 2021 and capped overdrafts at a single per day. In December 2021, the bank announced it was eliminating overdraft fees. This change became effective in early 2022. Capital One no longer offers an overdraft option for new account holders starting May 15, 2020.
Capital One 360 Checking members have access more than 70,000 feeless ATMs, including ATMs within the Allpoint and MoneyPass network.