How to Buy Crypto with Huntington Bank

Can I Buy Bitcoin with Huntington Bank?‍

Yes, Huntington Bank customers can purchase Bitcoin and other digital currencies by using regulated crypto trading platforms in the U.S. While the bank does not directly facilitate digital asset investments, it allows you to transfer funds to exchanges that adhere to Financial Crimes Enforcement Network (FinCEN) regulations.

‍

How to Buy Crypto with Huntington Bank

‍Huntington Bank customers can purchase crypto through a regulated exchange like Kraken. This platform operates as a registered Money Services Business (No. 31000270997766) with FinCEN. It offers access to 280 digital currencies for spot and futures trading with up to 5x leverage. Users can deposit USD using ACH transfers, debit cards, and credit cards.

Huntington Bank customers can buy crypto on Kraken by following these steps:

1. Registration: Visit the Kraken website and sign up using your email address. Complete the identity verification process to meet KYC regulations.
2. Connect Bank: Transfer funds from your Huntington Bank account using an ACH transfer, wire transfer, or debit card.
3. Select Asset: Once your funds are available, explore the wide selection of digital assets offered on Kraken.‍
4. Execute Your Trade: Choose the cryptocurrency you want to buy, enter the amount in USD, review the transaction details, and confirm your purchase.

‍

What are the Fees?

‍Understanding the costs of converting US Dollars to cryptocurrency through an exchange is recommended to avoid unexpected expenses. There are typically charges applied to depositing and withdrawing funds, as well as trades. Most platforms charge around 1% to 2% for trading fees. 

Kraken is a strong choice, offering trading fees as low as 0.16%, lower than competitors like Coinbase, which charges 2%. Additionally, Kraken supports free USD deposits from Huntington Bank through various payment methods, including ACH transfers and card payments.

‍

Is Huntington Crypto-Friendly?

Yes, Huntington Bank is considered a crypto-friendly bank as it allows transactions to platforms that comply with Financial Crimes Enforcement Network (FinCEN) regulations. The bank does not offer direct crypto trading services, it allows customers to securely transfer funds to regulated exchanges. 

The bank is dedicated to offering modern financial services and provides exposure to crypto through its Bitcoin ETF. Although users cannot physically hold individual assets, they can invest in digital currencies through trusted exchanges that follow anti-money laundering (AML) and Know-your-customer (KYC) standards.

‍

About Huntington Bank

Huntington Bank, based in Columbus, Ohio, serves the Midwest with a focus on customer-friendly banking. Its products include the Huntington 25 Checking account with no monthly fees when certain conditions are met, the Huntington Voice Credit Card that lets customers choose their rewards, and The Hub, a digital tool for managing finances. 

‍

Bottom Line

In conclusion, Huntington Bank customers can invest in digital assets by sending USD to regulated exchanges like Kraken. With low fees and access to a wide range of 280 cryptocurrencies, Kraken is an excellent option for American investors. In addition to trading, users can take advantage of the NFT marketplace, staking options and OTC desk.