How To Buy Crypto with M&T Bank
- James Page
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Author: 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 crypto exchange. However, that doesn’t mean you can’t use your M&T 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 M&T Bank
As stated above, just like with the vast majority of banks, you can’t buy crypto with M&T 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, there are many cryptocurrency trading platforms that you can use for buying bitcoin and other cryptocurrencies.
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 M&T 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 M&T Bank
M&T Bank is ideal for those who live close to a branch and need a checking account without a monthly fee.
M&T Bank, based in Buffalo, New York has its headquarters. According to assets, it is the 25th largest bank.
M&T Bank's EZChoice Checking accounts have no monthly fees and require only $25 to open. It allows for peer-to-peer payments via Zelle. Customers can customize their debit card by uploading photos or using M&T Bank's.
M&T Bank boasts 1,600 ATMs across its network. Non-M&T ATMs are $3.
M&T Bank charges $50 for the closure of an M&T checking bank account within 180 calendar days of opening it.
Customers who have more than $1 in their Relationship Savings account can earn interest. The yield is still lower than that of the national average savings account, even for those at the top tier of $100,000.
There are two ways to get rid of the $7.50 monthly service charge on the Relationship Savings accounts: keep a minimum balance of $500 per day, make one deposit into the Relationship Savings bank account per service charge cycle, or open an M&T checking and savings account.
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