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 KeyBank 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 KeyBank
As stated above, just like with the vast majority of banks, you can’t buy crypto with KeyBank 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 cryptocurrency exchanges 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 KeyBank 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!
It is the best bank for people who live in its branches.
KeyBank, a regional bank, has over 1,000 full-service branches.
Key Smart Checking has no maintenance fees and all you have to do to open an account is deposit $10. This makes it a very accessible option for anyone in the bank's area.
The fee for overdrafts ($33) is slightly higher than the other banks. KeyBank charges $38 for each additional overdraft in the current or previous 11 cycles.
KeyBank offers five checking account options. KeyBank offers five checking accounts. There is no monthly maintenance fee, overdraft fees or monthly maintenance fees. Key Advantage Checking offers interest as well as the Key Privilege Checking account for higher balances.
Depending on your account, you might have to pay $3 for an out-of network ATM. KeyBank partners with Allpoint ATMs to make it possible for you to use over 40,000 ATMs in the country free of charge. Access to Zelle will be available on the bank’s mobile app for person-to–person payments.
KeyBank offers a variety of CDs from seven days up to ten years.
To open a CD, you'll need to deposit at minimum $2,500. This is higher than what other banks require. Higher rates can be found elsewhere.