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 trading platform. However, that doesn’t mean you can’t use your First Republic Bank 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.
How to buy crypto or bitcoin with First Republic Bank
As stated above, just like with the vast majority of banks, you can’t buy crypto with First Republic 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 cryptocurrency exchanges that you can use for buying bitcoin and other cryptocurrencies.
1. Choose a crypto exchange
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 First Republic 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 First Republic Bank
First Republic Bank is a great choice for people who hold large amounts of money in deposit products. It offers the best features as well as the highest interest rates.
First Republic Bank is a bank/wealth management company that has approximately 87 offices across the United States.
First Republic Bank Classic Checking account opening requires a minimum of $500 deposit. If the account is not kept at least $2,500, it doesn't pay any interest. Instead, $25 per month service charges are charged.
Classic Checking accounts include a free check order.
First Republic Bank's ATM Rebate checking account is for those who use out-of-network ATM withdrawals frequently and have a minimum of $3,500 in a check account. Monthly fees of $25 are charged for any monthly balance below the daily average of $3,500.
First Republic doesn’t charge any fees for ATM withdrawals or rebates out of-network fees. Some fees may not be refunded in certain countries.
ATM Rebate checking account pays a small amount in interest on balances above $3,500. It requires a $500 minimum deposit.