How To Buy Crypto with Charles Schwab

    • James Page

James HeadshotAuthor: James Page - Last Updated on June 28, 2022

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 cryptocurrency trading platform. However, that doesn’t mean you can’t use your Charles Schwab account to buy crypto.

All you need is a reliable and trusted crypto exchange. 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.

Buy Crypto with eToro

How to buy crypto or bitcoin with Charles Schwab

As stated above, just like with the vast majority of banks, you can’t buy crypto with Charles Schwab 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, there are many crypto exchanges that you can use for buying bitcoin and other cryptocurrencies.

1. Choose a cryptocurrency trading platform

While there are a lot of cryptocurrency trading platforms, 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!

etoro crypto

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.

Sign Up with eToro

eToro sign up form

3. Transfer funds into the account

Transferring funds from your Charles Schwab account is also pretty easy as eToro supports bank transfer, PayPal, credit/debit card, and a few more deposit methods.

4. Buy cryptocurrency

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!

Buy Crypto with eToro

 

 

About Charles Schwab

Charles Schwab is still one of the top online brokerage platforms. Schwab has been a pioneer in the industry's move towards commission-free stock trading and ETF trading. It also made two significant acquisitions last yea, with TD Ameritrade the most notable. Schwab has attracted 15.8 millions additional customers in the last year. This makes it a major player in the industry. Schwab customers include all types of investors: novices to the most sophisticated.

Schwab has many platforms that can be used to satisfy the different needs of its customers. Schwab offers several brokerage platforms, including a browser-based platform at schwab.com, as well as a sophisticated, highly customizable workstation and mobile offerings. Customers who trade options or actively trade on margin as well as those who wish to trade FX, futures, cryptocurrencies or futures might find better options elsewhere.

Charles Schwab is a full-service broker that has over $6.6 trillion in client assets. Schwab customers will soon have access to TD Ameritrade thinkorswim's trading engine due to the company’s growth via acquisition. The TD Ameritrade trader-focused platform is joining Schwab's StreetSmart online platform for trading, which already meets the needs less intensive investors. Schwab offers a wide variety of financial products that are sufficient for the average investor. It may not be the best platform for active options traders, those looking to trade forex (FX), crypto currency, and futures markets.

Charles Schwab, like many online brokers, is not able to offer all of its features and platforms. Site navigation across Schwab’s various platforms is intuitive. Also, the account creation process takes less than ten minutes online. There are:

It's not as complicated to use the platforms, but the overview is. Schwab is able to show its customers all of their assets by offering a free aggregation.

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