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How to Buy Crypto with Chime [2024]

How to Buy Crypto with Chime [2023] | Step-by-Step Guide
Diana Paluteder

Summary: Chime Bank does not offer cryptocurrency trading directly on its own platform. Instead, customers can link their Chime banking accounts to a licensed crypto broker to buy Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies. 

If you want to buy crypto with your Chime bank account, we recommend using a trusted multi-asset investment platform eToro. After testing more than ten trading platforms, we concluded eToro to be the best choice for Chime customers, as it offers low trading fees, a wide selection of assets, and is regulated by FINRA. Therefore, it is a safe and cost-effective choice for US crypto investors.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Can you buy crypto with Chime? 

You can buy crypto with Chime, but you need to connect to a FINRA-licensed cryptocurrency exchange. As mentioned above, this is because Chime does not offer the buying and selling of cryptocurrency directly through its online banking platform.

How to buy crypto with Chime?

The best way to buy Bitcoin or any other cryptocurrency with a Chime account in the US is through a FINRA-regulated broker like eToro, which is a licensed and widely trusted multi-asset investing platform with over 70 cryptocurrencies and unique features such as “Copy Trading,” which enables users to copy top-performing crypto traders, in addition to a staking service, custom watchlist, as well as advanced charts and technical analysis tools. 

How to buy Bitcoin and crypto with Chime: Step-by-Step

You can get started in minutes with four simple steps:

  • Step 1: Create an account on eToro and complete your verification (personal or company);
  • Step 2: Enter the USD amount you want to deposit on the eToro platform;
  • Step 3: Connect your Chime account to deposit your selected fiat currency;
  • Step 4: The final step is to find the cryptocurrency you want to purchase and execute your trade.
How to Buy Crypto with Chime: eToro banner.
Crypto on eToro.Source: eToro.com

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

About Chime

Chime is an American financial technology company that offers checking and savings accounts as well as credit cards. The bank accounts are provided via Chime’s partners and are FDIC-insured up to $250,000. Chime does not charge monthly or overdraft fees, nor does it require an opening deposit or minimum balance to open a free checking account. As of now, the company only offers personal accounts. 

How to Buy Crypto with Chime: Homepage screenshot.
Chime’s homepage. Source: Chime.com

According to CNBC, Chime is the second-largest fintech unicorn in the US as of Q3 2023, valued at $25 billion.

Chime crypto policy

While Chime Bank doesn’t provide access to crypto trading directly from its platform, Chime customers can link their accounts to FINRA-regulated crypto exchanges to buy digital assets. 

You can also find educational resources on Chime’s website on crypto, such as a quick beginner’s guide and an article about crypto savings accounts

How to buy crypto safely

Cryptocurrencies are still a relatively new and untested financial instrument, making them a much riskier investment than more traditional asset classes such as stocks or bonds. So, although the price of crypto can spike to extraordinary highs, it can, unfortunately, crash to painful lows just as quickly.

Furthermore, although cryptocurrency broker-dealers in the US are required to register with FINRA, which imposes several requirements on them, including implementing and maintaining both anti-money laundering (AML) and customer identification programs (CIPs), crypto assets themselves are not regulated. 

Fortunately, there are steps you can take to ensure you’re being careful when buying crypto. Let’s look at a few tips on what you should do when getting started with digital assets and how to best protect yourself and your money.

How to buy crypto safely – tips

  • Research the cryptocurrency you want to buy: Make sure you understand how it works and what the risks are; 
  • Only use a safe device: Avoid public computers and Wi-Fi networks. Always use your personal computer with a VPN, which helps establish a secure connection between you and the web, keeping your sensitive information safe;
  • Choose a reputable exchange: Ensure the exchange is licensed by the appropriate regulators in your country and has a solid track record. Study the exchange’s user terms and agreements carefully to learn more about where your money is kept and what happens to your funds if the business goes bankrupt. You may also want to scour through user reviews to catch any red flags;
  • Secure your account: Use two-factor authentication and a strong password to protect your account;
  • Use a secure wallet: Store your cryptocurrency in a secure wallet to protect it from hackers. You can opt for either a hot (online) or cold (offline) wallet. To choose the right one for you, make sure to check out our in-depth guide on crypto wallets;
  • Don’t invest money you can’t afford to lose: Because the crypto market can be so volatile, you need to be conservative with your investments, particularly when starting out. For more investing tips, have a look at our guide on investing mistakes to avoid;
  • Monitor your investments: Keep an eye on the market and be aware of any changes in the price of the cryptocurrency you’re investing in. 

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

FAQs: 

What is Chime?

Chime is a US-based mobile banking platform that offers online banking services, including a checking account, savings account, and debit card. Chime operates entirely online and does not have any physical branch locations.

Can I buy crypto with Chime?

While Chime doesn’t offer crypto trading directly through its own platform, customers can buy crypto with Chime by connecting their bank accounts to a FINRA-regulated crypto broker.

How to buy crypto with Chime?

You can buy crypto with Chime by connecting your banking account to a licensed third-party cryptocurrency platform.

What crypto exchanges does Chime allow?

Customers can connect their Chime banking account to a FINRA-licensed cryptocurrency exchange to buy crypto. 

Is Chime crypto friendly?

While you can’t use Chime to buy crypto directly on their platform, Chime is a crypto-friendly bank. It allows you to connect your account and transfer funds to a regulated crypto exchange or an online investment platform to buy individual cryptocurrencies.

What is Chime’s crypto policy?

Chime allows its customers to use their online banking accounts or services to buy, sell and trade digital assets through regulated exchanges. 

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

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