How To Buy Crypto with Truist Bank

    • 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 crypto exchange. However, that doesn’t mean you can’t use your Truist 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.

Buy Crypto with eToro

How to buy crypto or bitcoin with Truist Bank

As stated above, just like with the vast majority of banks, you can’t buy crypto with Truist 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 crypto exchange.

However, there are many cryptocurrency exchanges that you can use for buying bitcoin and other cryptocurrencies.

1. Choose a cryptocurrency 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!

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 Truist 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!

Buy Crypto with eToro

 

 

About Truist Bank

Truist Bank is ideal for customers who live near one its nearly 2,500 locations throughout the South, East or Midwest. It also boasts more than 3,500 ATMs.

Students aged 23 years and under who attend school close to one of the branches or ATMs of The Truist Student Checking do not have to pay a monthly fee.

Truist was formed in 2019 from the merger of BB&T, SunTrust and other banks. According to the Federal Reserve Truist was America's seventh largest bank as of December 31, 2021.

Truist has four checking accounts. The Truist Bright Checking was one of the reviewed. It costs $50 to open and $12 per month, unless there is a minimum daily account balance of $1500 or a direct deposit of $500 or greater.

Students studying at colleges near Truist Banks or ATMs may be interested in Truist Bank's Student Checking account. This account has no monthly fee and does not require a minimum opening deposit. Eligible students must be aged 23 or older.

Truist Online Savings account is available without requiring a minimum deposit. It also doesn't charge a monthly fee. However, the account doesn’t yield a competitive rate. Its APY rate is lower than Bankrate’s national average.

According to Truist, CD terms can be extended for seven days to five year. Bankrate reviewed only four terms that were available online, including six months, one-year, 18-months, and two-year terms. All four balance tiers were available for each of the CD terms, but all tiers received the same APY. This was below Bankrate’s national average.

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