Buy Crypto with Charles Schwab

Learn about investing in cryptocurrencies with Charles Schwab, recommended US-based exchanges, associated fees, and various deposit methods.

Bottom Line: Charles Schwab does not provide investment options for purchasing actual cryptocurrencies such as Bitcoin and Ethereum. Schwab exclusively supports investments in crypto ETFs and Trusts, which can be costly, carry extra risks, and doesn’t give you direct ownership of digital assets. The best way to buy crypto in the US is through a regulated exchange. Our team has extensively researched the top trading platforms and has determined that Kraken is the number one option for Schwab users. It offers free and instant USD deposits to trade over 200 cryptocurrencies in a FinCEN-licensed environment.

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Kraken is the best digital asset exchange for Schwab customers wanting to buy, sell, trade and stake cryptocurrencies as it offers free and instant USD deposits to trade hundreds of tokens with low fees.

Can I Buy Crypto on Charles Schwab?

No, Charles Schwab does not offer digital currency on its platform. Instead, the platform provides access to crypto-adjacent instruments such as ETFs, trusts, and stocks. We advise against investing in crypto derivatives due to the heightened risks, such as custodial and management risks. If you want to securely invest in digital assets, we recommend using a licensed cryptocurrency exchange in the United States overseen by the Financial Crimes Enforcement Network (FinCEN).

How to Buy Crypto with Schwab Alternative

The safest and most affordable way for Charles Schwab customers to invest in digital assets like Bitcoin is through a licensed cryptocurrency trading platform. As previously mentioned, we recommend using the Kraken exchange as it offers free and instant USD deposits via multiple payment methods, including ACH transfer, bank transfer, credit/debit card, PayPal, and more.

Charles Schwab users can begin their crypto-investing journey with this short and simple guide:

  1. Open an account on Kraken for free by supplying your email address and completing identity verification.
  2. Click ‘Buy Crypto’ in the top right-hand corner of your screen, making sure to set 'USD' as your preferred currency.
  3. Choose your ideal payment method and pick the cryptocurrency you want to acquire.
  4. Enter the amount you want to invest and click the 'Buy' button to complete your transaction.

Charles Schwab Cryptocurrency Policy

Charles Schwab has been a game-changer in the financial services sector, particularly regarding cryptocurrency investments. The firm offers a secure and efficient gateway for investors to enter the crypto market through their ETFs but does not support direct spot trading of Bitcoin and other tokens. Charles Schwab operates under stringent regulations, ensuring compliance with U.S. Financial Crimes Enforcement Network (FinCEN) guidelines or equivalent authoritative bodies. This ensures a trustworthy and reliable experience for users looking to diversify their portfolios with cryptocurrencies.

About Charles Schwab

Charles Schwab is a leading financial services company based in the United States, offering a comprehensive suite of investment and banking solutions to individual and institutional clients. Founded in 1971 by Charles R. Schwab, the platform has revolutionized the investment landscape by providing user-friendly, low-cost brokerage services, including stock and options trading, mutual funds, ETFs, and retirement accounts. 

With a focus on innovation and client-focused solutions, Schwab also offers robust research tools, financial planning services, and educational resources to empower investors to make informed decisions. Its commitment to transparency, integrity, and client satisfaction has made it a trusted name in the financial industry, attracting millions of users seeking to grow their wealth and achieve financial security.

The Bottom Line

To sum up, Charles Schwab does not provide a direct option for purchasing digital currencies on its platform. Instead, it offers exposure to crypto through investment vehicles such as ETFs and Trusts, which carry additional risks and costs. For investors interested in directly investing in digital assets, we recommend using a regulated exchange, such as Kraken. With its extensive range of trading options, unique features, and competitive fees, it is the best alternative for Charles Schwab users looking to dive into the world of crypto investing.


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