How to Buy Crypto with Citibank

Can I Buy Bitcoin with Citibank?

‍Yes, Citibank customers can purchase digital currencies like Bitcoin through licensed cryptocurrency exchanges in the USA. Though the bank does not directly offer crypto investment services, it facilitates transfers to platforms that adhere to Financial Crimes Enforcement Network (FinCEN) regulations. Citibank users can deposit USD using ACH bank transfers or debit cards.

‍

How to Buy Crypto with Citibank

‍Investing in cryptocurrency with Citibank is safe when using approved exchanges. We recommend using Kraken, a platform that complies with FinCEN guidelines and supports over 250 digital assets for trading on both spot and futures markets with up to 5x leverage. Kraken offers multiple payment methods for USD deposits, including ACH transfers, bank transfers, credit cards, debit cards, and Google Pay.

Follow this guide to buy crypto with Citibank through Kraken:

1. Register: Visit the Kraken website and create a new account using your email address. Complete the identity verification process to comply with KYC regulations.
2. Connect Your Account: Initiate a transfer from your Citibank account. This can be done via an ACH transfer or using a debit card.
3. Choose Token: Once your funds are available, browse the wide selection of over 250 digital currencies.‍
4. Execute Transaction: After selecting the cryptocurrency you want to purchase, enter the amount of USD you wish to invest. Carefully review the transaction details and confirm your purchase.

‍

What are the Fees?

Familiarising yourself with the fees charges when using a digital asset exchange is essential for avoiding unforeseen costs. This can include charges for depositing funds, executing trades, and withdrawing money. Trading fees vary depending on the platform and typically range from 1% to 2%.

For Citibank customers looking for an affordable option, we recommend Kraken. Its trading fees start at a competitive rate of just 0.16%, which is significantly lower than many other exchanges, such as Coinbase, where fees can exceed 2%. Additionally, Kraken offers free USD deposit options like ACH transfers, making it an appealing option for American investors.

‍

Is Citibank Crypto-Friendly?

Yes, Citibank is considered crypto-friendly and supports transfers to exchanges registered with the Financial Crimes Enforcement Network (FinCEN). The bank facilitates these transactions while adhering to FinCEN's stringent regulations, ensuring a secure environment for crypto investments.

By enabling USD transfers to approved investment platforms, Citibank provides its customers with a straightforward way to enter the cryptocurrency market. The bank is committed to integrating modern investment options within its broader financial services, allowing clients to explore digital currency investments with confidence.

‍

About Citibank

Citibank, a major global financial institution, offers various banking products and services. With flagship offerings like the Citi Priority Account Package, Citi Personal Wealth Management, and Citi ThankYou Rewards, Citibank provides comprehensive financial solutions, from everyday banking to investment management. Committed to innovation and customer satisfaction, Citibank continues to lead in providing modern financial services.

‍

Bottom Line

In conclusion, Citibank offers its customers a straightforward way to invest in digital currencies through regulated exchanges like Kraken. Although the bank does not provide direct crypto trading services, it supports USD transfers to compliant platforms, ensuring a safe investment environment. With Kraken's competitive fees and extensive cryptocurrency options, Citibank clients can confidently enter the digital asset market.