Buying crypto in 5 steps at M&T Bank (2023)
It is not possible to invest in crypto directly with your M&T Bank account. However, with the five steps in this article, I am happy to explain how you can still buy crypto such as Bitcoin and Ethereum with your M&T Bank account.
Buying crypto in 5 steps at M&T Bank
Step 1: open an account with a crypto exchange
First, you need to connect your M&T Bank account to a crypto exchange. A crypto exchange is a company that brings together supply & demand for crypto. Private investors can then invest in the most popular crypto currencies with one simple click. The table below shows you directly which providers you can invest in crypto currencies with:
|Trade against low fees in Bitcoin & other cryptos! Try for free with a demo & deposit money with M&T Bank after. Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.|
|Try crypto trading without using a crypto exchange or a bank to deposit: speculate on both increasing and decreasing prices with the CFD provider Plus500 using a demo account. 82% of retail CFD accounts lose money.|
|Invest in hundreds of altcoins against low fees. Receive 20% permanent discount over all transactions!|
Step 2: activate your account
In the beginning, the crypto market was completely unregulated: anyone could open an account anonymously and trade crypto directly. These times are over; crypto exchanges, like banks, now have to confirm the identity of their customers. Therefore, to actually trade in crypto, you will first have to upload proof of your identity and address.
Step 3: deposit money
After your account is activated, you can deposit funds into your crypto account using your M&T Bank account. Keep in mind that with some crypto exchanges, it can take several business days for the money to appear in your account. It is also important to pay attention to transaction fees.
Step 4: research which crypto you want to invest in
New investors sometimes cannot see the wood for the trees: after all, you can invest in thousands of different crypto currencies these days. Yet Bitcoin and, to a lesser extent, Ethereum are still the dominant crypto currencies. As a beginner, you can therefore take an immediate stake in the crypto market with an investment in these cryptos. Regardless, it is important to first research the market properly and determine whether crypto suits you.
Step 5: buy crypto with your M&T Bank account
You are now all set to execute your first crypto order! To do this, navigate to the crypto you want to buy and press the buy button. Then enter the amount you want to invest and press the execute button. Keep in mind that it may take some time for the investment to appear in your account. It is advisable to regularly evaluate your investment: that way, you make sure the crypto still fits your risk profile.
About M&T Bank
M&T Bank Corporation or in full Manufacturers and Traders Trust Company is an American bank headquartered in Buffalo, New York. With nearly 800 branches in New York, Pennsylvania, Delaware, Virigina and Washington D.C., among others, M&T Bank is a serious player.
M&T Bank is a reliable partner for customers, but has certainly been so for investors too. In fact, the bank has been profitable since 1976 and did not cut its dividend even during the 2008 financial crisis. Of course, past results are no guarantee for the future, but this shows that M&T Bank is a reliable party!
Can you buy Bitcoin at M&T Bank
It will not be possible to buy Bitcoin and other crypto at M&T Bank in the near future. However, by connecting your bank account to a crypto exchange, you can invest in Bitcoin, Ethereum and hundreds of other altcoins without any problems. However, never forget that investing in crypto is risky; there is always the risk of losing your entire deposit.