Buying cryptocurrencies through GO2Bank directly is not common, as most banks do not offer this service. Instead, individuals typically use specialized cryptocurrency exchanges or platforms to buy digital assets.
For GO2Bank users keen to buy crypto, Kraken is an optimal choice. Kraken is a reputable US cryptocurrency exchange licensed across North American jurisdictions. With its strong regulatory credentials, as well as an intuitive user experience, Kraken enables seamless and compliant cryptocurrency purchases funded by GO2Bank accounts.
Can you buy crypto with GO2Bank?
While GO2Bank does not directly provide cryptocurrency trading, it offers strong support for clients to engage with the crypto market. Account holders can securely transfer U.S. dollars to regulated cryptocurrency exchanges that align with GO2Bank’s commitment to regulatory compliance.
Step-by-Step Guide on How to Buy Crypto with GO2Bank
Kraken emerges as a top choice for GO2Bank users interested in crypto. Here is a step-by-step guide to buying cryptocurrencies using Kraken:
Step 1: Register an Account on Kraken
Visit Kraken’s website to create a new account.
Step 2: Complete Identity Verification
Comply with Kraken’s Know Your Customer (KYC) requirements for identity verification. This is an important regulatory step that typically takes 1-2 days for approval.
Step 3: Link your GO2Bank account to Kraken.
Connect your GO2Bank account to Kraken for quick, affordable USD deposits and withdrawals.
Step 4: Deposit Funds
Transfer funds from your GO2Bank account into your Kraken account’s USD wallet.
Step 5: Purchase Cryptocurrency
Use the deposited USD to buy your preferred crypto, like Bitcoin or Ethereum, on Kraken’s platform.
Though every exchange differs in its verification process, once done, the crypto purchase process is similar across reputable platforms.
About GO2Bank
GO2Bank is a digital bank catering to a globally mobile customer base. Headquartered in Miami, Florida, GO2bank offers the following key services:
- Online banking and mobile app access for account management on-the-go
- FDIC-insured checking and high-yield savings accounts
- Global money transfers to over 200 countries
- Multi-currency accounts in USD, EUR, GBP, and CAD
- Personal and business loans
- Secured credit card to build or improve credit
- Access to over 55,000 fee-free ATMs nationwide
- Cash deposits supported at nearly 90,000 retailers
- Direct deposits available up to 2 days early
As a digital bank, GO2Bank aims to provide flexibility and convenience to clients through its mobile-first banking solutions. With no monthly minimum balance and no physical branch locations, the bank targets digital-savvy consumers and business owners seeking an accessible and low-cost banking experience.
What is GO2Bank’s status on cryptocurrencies?
While not directly involved in crypto trading, GO2Bank allows seamless funds transfers to regulated crypto exchanges, enabling clients to invest in digital assets. It is committed to remaining compliant with crypto regulations.
Does GO2Bank work with crypto?
Yes, GO2Bank supports crypto investing by facilitating USD transfers to sanctioned crypto exchanges that align with regulatory policies on digital assets. This provides clients with a secure avenue to participate in the crypto market.
As we have seen, GO2Bank provides a secure bridge for clients to engage with leading cryptocurrency exchanges like Kraken. Similarly, those banking with other institutions like Hargreaves Lansdown, Macquarie Bank, or Truist Bank may be interested in learning how to purchase Bitcoin, Ethereum and other crypto assets within regulatory guidelines.
For Hargreaves Lansdown customers, check out this guide on How to Buy Crypto with Hargreaves Lansdown. Macquarie Bank users can reference our article on How to Buy Crypto with Macquarie Bank. And for Truist Bank account holders, we walk through recommendations in our How to Buy Crypto with Truist Bank piece.
Conclusion
In summary, with GO2Bank’s focus on regulatory compliance and secure USD transactions, clients can confidently explore crypto investments on dependable exchanges like Kraken. Consider risks and educate yourself in this dynamic new asset class.
FAQs
What are the fees for buying crypto with GO2Bank?
The fees include exchange deposit/withdrawal charges and trading fees. Kraken offers competitive rates, like free USD deposits through ACH transfers and low trading fees starting from 0.16%.
Is Kraken safe to use with GO2Bank?
Yes, Kraken adheres to strict US FinCEN regulations, securing over $6 billion in daily trading volume. Its reliability and focus on compliance make it a safe choice.
What currencies can I use to buy crypto on Kraken?
Kraken allows USD deposits from GO2Bank to facilitate easy crypto purchases. It also supports EUR, CAD, and JPY transactions.
What cryptocurrencies can I buy on Kraken?
Kraken offers trading in over 200 cryptos like Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash and Stablecoins like USDT and USDC.
