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How to Buy Crypto with Truist Bank [2024]

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

Summary: Truist Bank does not offer crypto trading directly on its platform. Therefore, US investors have to go via a licensed third-party broker to buy cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) by depositing USD from their Truist bank account. 

To buy Bitcoin and other cryptocurrencies with Truist Bank, we suggest using a regulated multi-asset investment platform eToro. After analyzing over ten popular trading platforms, we found eToro to be the best option for Truist customers, as it offers low fees, a wide selection of digital assets, and is already trusted by over 30 million users. Also, being regulated by FINRA and FinCEN makes it a cost-effective and safe choice.

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 Truist Bank? 

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

How to buy crypto with Truist Bank?

The best way to buy Bitcoin or any other cryptocurrency with a Truist 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 Truist Bank: 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 Truist 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 Truist Bank: 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 Truist Bank

Truist Bank (NYSE: TFC) is an American bank formed in 2019 through a merger of BB&T (Branch Banking and Trust Company) and SunTrust. It’s among the top 10 banks in the US, operating across 2,781 branches in 15 states and Washington, DC, providing a wide range of banking and financial services to retail, small business, commercial and corporate clients. 

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

Services offered by Truist include: 

  • Personal banking: Checking and savings accounts, credit cards, loans, mortgages, insurance, certificate of deposits (CDs);
  • Business banking: Business checking and savings accounts, loans and lines of credit, credit cards, merchant services, insurance;
  • Wealth management: Tools and resources for financial planning, self-directed trading (stocks and mutual funds with access to market insights), Robo-advisors

Truist crypto policy

While Truist Bank doesn’t support crypto trading directly from its platform, Truist crypto users can take advantage of their bank accounts and transfer funds to FINRA-regulated crypto exchanges to buy digital assets.

After thoroughly assessing Truist Bank’s online resources, Truist Bank doesn’t have a specific crypto policy or limitations on crypto transfers to crypto exchanges. Nevertheless, the bank has released several sources on crypto, on what to know before investing in crypto, and warning its customers about the volatility of digital currencies by breaking down the risks of buying crypto.

How to buy crypto safely

Even though cryptocurrencies have been gaining popularity among investors and the general public for the past few years, they remain highly volatile investments, particularly when compared to more traditional asset classes such as stocks or bonds. In addition, the crypto scene is teeming with fraud and cybercrime, 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 about how to buy crypto with Truist: 

Can you buy crypto with Truist?

While Truist 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.

How to buy crypto with Truist?

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

What crypto exchanges does Truist allow?

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

What is Truist’s crypto policy?

Truist Bank’s crypto policy 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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