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 exchange. However, that doesn’t mean you can’t use your Fifth Third Bank account to buy crypto.
All you need is a reliable and trusted cryptocurrency 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.
How to buy crypto or bitcoin with Fifth Third Bank
As stated above, just like with the vast majority of banks, you can’t buy crypto with Fifth Third 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 trading platform.
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 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 Fifth Third Bank 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!
About Fifth Third Bank
Fifth Third Bank will satisfy if you're looking to find a regional financial institution with the basic features that you would expect at a brick and mortar bank.
Fifth Third Bank is a regional banking institution that serves customers in 11 US states and has more than 1,090 branch offices.
Fifth Third Bank offers several types of checking accounts. Momentum doesn't require a deposit or charge a monthly fees to open, but it does pay no interest.
No matter which account you choose, customers have access to more that 50,000 free ATMs. You can access your checking account through a highly rated mobile banking app. This app offers many features including instant alerts about account activity, mobile deposit collection, and the ability to update information.
Fifth Third Bank offers several types CDs. Although the rate for a 1-year CD is extremely low, it only requires $500 to open.
You can also get certificates of deposit and promotional CDs, with rates that differ depending on your location. Savings can also open a 529 CD to put money aside for college.
Fifth Third Bank offers a variety of savings accounts, including one specifically for minors as well as a health savings account.