How to Buy Crypto with PNC Bank [2023] | Step-by-Step

Summary: PNC Bank doesn’t offer customers the chance to buy cryptocurrencies on its own platform. Instead, PNC customers can connect their banking accounts to a Financial Industry Regulatory Authority (FINRA) licensed cryptocurrency broker to buy digital assets like Bitcoin (BTC) and Ethereum (ETH). 

In short, to buy crypto with PNC, investors in the US will need to sign up with a FINRA-regulated crypto exchange like eToro and deposit USD from their PNC account.

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Intermediate Traders and Investors

2.8 Million Active Accounts

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Finbold is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

Does PNC allow crypto? 

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

How to buy crypto with PNC?

The best way to buy Bitcoin or any other cryptocurrency with a PNC bank 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 crypto with PNC: 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 PNC 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.

About PNC

PNC Bank is one of the largest American banks, with 2,629 branches and 9,523 ATMs based in Pittsburgh, Pennsylvania. On top of standard banking services such as checking and savings accounts, loans, and mortgages, PNC also provides insurance options and wealth management services. Note that PNC product details, rates, and fees may vary by location. 

Services offered by PNC include: 

• Retirement accounts: Individual retirement accounts (IRAs), retirement options for small businesses;
• Investment products: stocks, bonds, mutual funds;
• Banking services: Checking accounts, savings accounts, small business accounts, credit cards, loans, mortgages, overdrafts, and lines of credit;
• Insurance products: Life and long-term care insurance;
• Wealth management: Financial planning and portfolio management.  

Best for:

Intermediate Traders and Investors

2.8 Million Active Accounts

Get Started

Finbold is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

PNC’s crypto policy

PCA Bank does not currently offer any products or services related to cryptocurrencies. That said, the bank does allow customers to freely invest in digital assets through FINRA-regulated crypto exchanges with their PNC bank accounts or credit/debit cards.

How to buy crypto safely

As a relatively new market, cryptocurrencies are considered highly speculative and are subject to extreme price fluctuations, making them a much more temperamental investment than stocks or bonds. In addition, the crypto sphere is teeming with schemers, putting both inexperienced and seasoned 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:

• 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 about how to buy crypto with PNC: