How to Buy Crypto with Citibank

Bottom Line: Citibank customers cannot buy or sell crypto through the bank but can convert their money to digital assets by transferring funds to a licensed digital currency exchange. Finding a platform that accepts deposits from Citi accounts, debit, and credit cards is crucial. Investors should choose a FinCEN-licensed exchange, ensuring they engage in crypto asset trading in a regulated environment.

Our team of experts has thoroughly assessed the top crypto investing platforms and concluded that eToro is the perfect option for Citibank clients. eToro offers free and instant USD deposits to trade thousands of assets, including cryptocurrencies, stocks, commodities, and more. In addition to buying and selling assets, eToro also provides a copy trading feature that allows users to mimic the trades of successful traders.

Can I Buy Crypto with Citibank?

Citibank customers can explore the realm of cryptocurrency investment by swapping their USD for digital assets like Bitcoin through licensed digital asset exchanges in the United States. Citibank permits its account holders to transfer funds to reputable cryptocurrency trading platforms under the supervision of the Financial Crimes Enforcement Network (FinCEN). US investors must choose a trading platform regulated by this authoritative agency to ensure asset security.

How to Buy Crypto with Citibank

The most secure way for Citibank account holders to invest in digital assets like Ethereum is by using a FinCEN-regulated broker like eToro. This method allows investors to securely trade various cryptocurrencies by depositing USD through options like ACH Transfer, Debit Card, Credit Card, Skrill, Neteller, PayPal, and more.

Citibank customers can follow this step-by-step guide to buy crypto:

  1. Open a free account on eToro and complete the verification process.
  2. Click 'Deposit Funds', select a method, and send money from Citibank.
  3. Go to the search bar, find the crypto you want to buy and tap 'Trade'.
  4. Input the amount you want to purchase and tap 'Open Trade'.
How to Buy Bitcoin and Crypto with Citibank

Citibank Cryptocurrency Policy

Citibank acknowledges cryptocurrency’s transformative impact on the financial landscape. By actively exploring collaborations with innovative blockchain-based projects, Citibank positions itself at the forefront of the rapidly-evolving crypto ecosystem. The bank has announced future plans to offer cryptocurrency directly through its platform, although the exact date has yet to be confirmed. Citibank's progressive stance on digital currencies signifies its commitment to embracing cutting-edge fintech solutions, fostering economic growth and stability in the digital age.

Deposit and Trading Fees

Grasping the fee structure is crucial when diving into the cryptocurrency market through Citibank. Here's a breakdown of the typical costs you may face when dealing with cryptocurrencies: 

  • Deposit Fees: Citibank may levy certain fund transfer fees, unlike many crypto exchanges offering free deposit services. Transactions from a credit card may involve a fee, typically exceeding 2%. 
  • Transaction Fees: Many crypto trading platforms adopt a spread, a small percentage derived from each transaction. The extent of this spread can vary based on the specific digital currency and the platform, generally around 1%. 

It's vital to remember that costs can differ between different platforms. Hence, a comprehensive analysis of the existing fee structures from your chosen cryptocurrency exchange and Citibank is strongly advised.

The Bottom Line

To conclude, Citibank customers can securely invest in crypto assets by utilizing a digital currency exchange licensed by FinCEN or FINRA. We recommend using eToro due to its competitive fees, user-friendly interface with mobile and desktop compatibility, low fees, wide selection of assets, and free ACH transfers. In addition, eToro is considered one of the most secure exchanges in the world. To learn more about this exchange, visit our eToro Review.


Can I buy crypto with Citibank?
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