Summary: Goldman Sachs, unfortunately, does not allow its clients to buy crypto directly from the bank as a part of its service. Nonetheless, Goldman Sachs account holders can still transfer funds from their accounts to a regulated crypto exchange and invest in tokens such as Bitcoin (BTC) and Ethereum (ETH) that way.
American investors looking to buy crypto with Goldman Sachs can sign up with a third-party brokerage like eToro and deposit USD or other fiat currencies from their accounts.
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Can you buy crypto with Goldman Sachs?
Buying crypto directly through Goldman Sachs is not an option, as the bank’s online platform does not, as of yet, provide this service. However, that should not discourage you from entering the world of digital asset trading. Instead, you can connect your Goldman Sachs account to a crypto exchange, such as eToro, and start adding crypto to your portfolio that way.
How to buy crypto with Goldman Sachs?
To start trading crypto, Goldman Sachs account holders can register an account at a reputable crypto exchange like eToro.
eToro is a highly authorized investment platform with a comprehensive array of crypto trading features that facilitate user access to a diverse portfolio of over 70 digital currencies and investment assets.
Among the most useful features is copy trading, which enables users to replicate and learn from the investment strategies of top-performing crypto traders on the platform. Additionally, eToro introduces users to:
- Hodling, a long-term investment approach that focuses on weathering market fluctuations;
- Staking, that is, holding specific cryptocurrencies within your account to generate passive income over time.
- Charts and technical analysis tools that help users make informed decisions and increase their odds of successful investing.
Best Crypto Exchange for Intermediate Traders and Investors
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Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.
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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.
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Copy top-performing traders in real time, automatically.
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eToro USA is registered with FINRA for securities trading.
How to buy crypto with Goldman Sachs: Step-by-step
To buy crypto with Goldman Sachs, you can:
- Step 1: Create an eToro account (personal or company);
- Step 2: Link your eToro and Goldman Sachs accounts;
- Step 3: Deposit USD or other fiat currencies on the eToro platform;
- Step 4: Look for the token you want to buy and submit the order.
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.
About Goldman Sachs
Goldman Sachs is an American multinational banking and financial services company. It was established in 1869 by the renowned investor Marcus Goldman and has since grown into one of the most recognizable names in the global finance industry, having significant influence in investment banking, securities, asset management, and myriad other financial activities.
Services provided by Goldman Sachs include:
- Personal banking: Checking and savings accounts, credit cards, loans, investment banking services, mortgages, etc.;
- Business banking: Asset management, financial management, investment solutions for nonprofits, FICC and equities, financial Cloud services, enterprise partnerships, global investment research and banking, liquidity investing, etc.;
- Wealth management: Private and personal wealth management, investment research.
Goldman Sachs crypto policy
As mentioned, Goldman Sachs does not offer clients the option of buying crypto directly from the bank. However, the bank still has a positive outlook on cryptocurrencies, so things might change in the future.
In 2022, the bank announced it intended to introduce Over-The-Counter (OTC) cryptocurrency trading options for its clients. This could open a huge window of opportunities for the clients and introduce them to some kind of hybrid business model between traditional and decentralized finance (DeFi).
How to buy crypto safely
While the allure of cryptocurrencies is undeniable, it is important to acknowledge that they are still highly volatile investments in comparison to financial instruments like stocks or bonds. This is mostly due to a lack of standardized regulation. However we must mention the fact that crypto attracts hackers and fraudulent parties who target inexperienced or unsuspecting investors.
That is not to say that the crypto world is the wild west of the internet, with everyone getting scammed left, right, and center. Indeed, crypto trading platforms adhere to rules set by institutions such as the Financial Industry Regulatory Authority (FINRA). That is not a reason for concern. However, the fact that cryptocurrencies themselves circulate without any universally standardized regulatory framework is.
Precautions when buying crypto
In light of these considerations, it is advisable that you take some precautions to safeguard your information and protect your funds. For example, you can:
- Conduct thorough research: Before buying crypto, conduct comprehensive research on the broker and the token to understand not only the potential rewards but also the risks associated with investments of this nature;
- Use an updated device and ensure a safe internet connection: Stay away from shared computers and public Wi-Fi networks. Instead, use your own device with updated software and a virtual private network (VPN) client. Why should you use VPN when trading crypto? Check out our dedicated guide to learn more;
- Use reputable exchanges: Find a crypto exchange that follows regulatory guidelines in your jurisdiction and has a good track record. Be sure to check their terms of service, too, to avoid being surprised by any hidden fees;
- Practice account security: Implementing two-factor authentication (2FA) and using a strong, unique password to thwart unauthorized access to your data is wise;
- Use safe wallets: Try using cold (offline/hardware) crypto wallets;
- Be wise: Do not fall for hype and only invest what you can afford to lose;
- Monitor your investment: When you do buy crypto, make sure you monitor its performance and always keep an eye out for potential new investment opportunities.
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 Goldman Sachs
Can you buy crypto at Goldman Sachs?
No, clients cannot buy crypto at Goldman Sachs yet. However, the company announced it would introduce an over-the-counter crypto buying option for its clients.
How to buy crypto with Goldman Sachs?
To buy crypto with Goldman Sachs, you can make an account at a trusted crypto trading platform such as eToro and link it to your Goldman Sachs account to transfer funds.
Is Goldman Sachs crypto-friendly?
Yes, Goldman Sachs is crypto-friendly and plans to make digital currencies available to its clients.
How to buy crypto with Goldman Sachs card?
To buy crypto with a Goldman Sachs card, you will have to find a brokerage that accepts your card as a valid payment method.
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.
