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How to Buy Crypto with Citibank [2024]

How to Buy Crypto with Citibank
Diana Paluteder

Summary: Unfortunately, Citibank does not offer crypto directly on its own platform. However, Citibank customers are free to link their banking accounts to a cryptocurrency broker licensed by the Financial Industry Regulatory Authority (FINRA) to buy digital assets such as Bitcoin (BTC) and Ethereum (ETH).

In short, to buy cryptocurrencies with Citibank, we suggest using a reputable multi-asset investment platform eToro. After testing more than ten trading platforms, we found eToro to be the best choice for Citibank customers, as it offers low fees, a wide selection of assets, and has over 30 million users.

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. Other fees apply. For more information, visit etoro.com/trading/fees.

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

  • eToro USA is registered with FINRA for securities trading.

30+ 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.

Does Citibank allow crypto purchases? 

Yes, you can buy crypto with Citibank, but you need to connect to a FINRA-licensed cryptocurrency exchange. As mentioned above, this is because Citibank does not offer cryptocurrency trading directly through its online banking platform.

How to buy crypto with Citibank?

The best way to buy Bitcoin or any other cryptocurrency with a Citibank account in the US is through a broker like eToro, which is a 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 crypto with Citibank: 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 Citibank 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.

Disclaimer: Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

How to Buy Crypto with Citibank: 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. Other fees apply. For more information, visit etoro.com/trading/fees.

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

  • eToro USA is registered with FINRA for securities trading.

30+ 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 Citibank

Citibank (or Citi for short), the retail banking subsidiary of the multinational financial services company Citigroup, is among the world’s largest financial institutions, with 2,649 branches in 19 countries, including 723 in the US. It offers a comprehensive range of banking products to both individuals and small businesses. 

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

Services offered by Citibank include: 

  • Personal banking: Checking accounts, savings accounts, credit cards (rewards/cash back/travel), mortgages, home refinancing, certificate of deposits (CDs), individual retirement accounts (IRAs); 
  • Business banking: Business checking and savings accounts, loans and lines of credit, credit cards;
  • Wealth management: Financial planning and investment services, Robo-advisors

Citibank’s crypto policy

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

Even though Citi doesn’t offer cryptocurrency trading services, Citibank is a seemingly crypto-friendly bank. In June 2022, Citi Group announced its plans to pilot digital assets safekeeping capabilities by integrating Harmonize, a digital asset custody and orchestration platform developed by the Swiss cryptocurrency custody firm Metaco, into its existing infrastructure.

As a general stance on crypto, in 2021, Citibank published a white paper offering insights, advice, and understanding of crypto, specifically exploring these emerging assets as a form of payment, its risks, and potential wider mainstream adoption in the future.

How to buy crypto safely

Cryptocurrencies are still considered highly speculative investments and are subject to severe volatility, making them much riskier than traditional asset classes such as stocks or bonds. In addition, fraud and cybercrime among crypto assets are particularly rampant, putting both seasoned and inexperienced investors at risk. 

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: 

How to buy crypto with Citibank?

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

Does Citibank allow crypto purchases?

While Citibank doesn’t offer crypto trading directly through its own platform, customers can connect their bank accounts to a FINRA-regulated crypto broker to buy digital assets.

What crypto exchanges does Citibank allow?

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

What is Citibank’s crypto policy?

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

Does Citibank have a crypto wallet?

Even though not launched yet, Citi Group has announced a cooperation with a digital asset custody startup Metaco, with plans to integrate their Harmonize platform to pilot custodian services for cryptocurrencies.

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. Other fees apply. For more information, visit etoro.com/trading/fees.

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

  • eToro USA is registered with FINRA for securities trading.

30+ 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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