How to Buy Crypto with USAA [2024]

Summary: USAA Bank doesn’t offer cryptocurrency trading directly on its own platform. Instead, customers can link their USAA banking accounts to a licensed crypto broker to buy digital assets such as Bitcoin (BTC) and Ethereum (ETH). 

If you want to buy Bitcoin and other cryptos with USAA, we recommend using a trusted multi-asset investment platform eToro. After testing over ten trading platforms, we concluded eToro to be the best choice for USAA customers, as it offers low trading fees and a wide selection of crypto assets. Therefore, it is a safe and cost-effective choice for US crypto investors.

Best Crypto Exchange for Intermediate Traders and Investors

• Invest in 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.

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Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency 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.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Does USAA allow crypto purchases? 

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

How to buy crypto with USAA?

The best way to buy Bitcoin or any other cryptocurrency with a USAA account in the US is through a reputable 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 custom watchlist, as well as advanced charts and technical analysis tools.

How to buy crypto with USAA: 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 USAA 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.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Best Crypto Exchange for Intermediate Traders and Investors

• Invest in 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

Get Started

Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency 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.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

About USAA

USAA Bank was founded in 1922 by a group of Army officers to provide affordable insurance to military personnel. The bank has now grown to offer a wide range of banking and insurance services to former and current US military members and their families.

Services offered by USAA include: 

• Retirement accounts: Individual retirement accounts (IRAs), certificate of deposits (CDs);
• Investment products: stocks, bonds, mutual funds, options, and ETFs;
• Banking services: Checking accounts, savings accounts, credit cards, rewards points cards, loans, mortgages, overdrafts, and lines of credit;
• Insurance products: Life and home insurance;
• Wealth management: Financial planning, portfolio management, and automated investing.  

USAA crypto policy

USAA Bank doesn’t provide any products or services related to cryptocurrencies directly from their platform, nor do they accept crypto as a form of payment. However, USAA customers can link their accounts to crypto exchanges or online brokers like eToro to buy digital assets. 

USAA is okay with transfers to cryptocurrency exchanges; however, they clearly state that they don’t directly offer crypto from your USAA FSB account, USAA FSB doesn’t also accept crypto as a form of payment, and you can’t store any crypto.

Therefore, USAA seems like a crypto-friendly bank. This article from November 2022 on USAA’s website clearly outlines their stance on digital currencies, giving a detailed overview for USAA account holders who want to buy, sell or transfer crypto:

“Buying or selling your crypto will still be handled through Coinbase’s site, not directly from your USAA FSB account. USAA FSB does not currently accept crypto as a form of payment nor store any crypto. Linking your Coinbase account gives you the convenience of seeing all of your crypto on your usaa.com account summary page.“

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. In addition, fraud and cybercrime, and scams such as rug pull among crypto assets are especially 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: 

Best Crypto Exchange for Intermediate Traders and Investors

• Invest in 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

Get Started

Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency 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.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD