Buying crypto at Chase Bank: Bitcoin & Ethereum
Want to buy crypto at Chase Bank? On this page, learn how to invest in popular crypto like Bitcoin and Ethereum with Chase Bank.
How to buy crypto at Chase Bank?
You cannot buy crypto like Bitcoin & Ethereum directly from Chase Bank. Fortunately, however, it is possible to invest in crypto directly through a crypto exchange at this bank. Go through the following three steps to start investing in crypto right away!
Step 1: open an account with a crypto exchange
A crypto exchange is a party that allows individual investors to invest in the best-known crypto currencies. In the overview below, you can immediately see at which crypto exchanges you can invest with your Chase Bank account:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with Chase Bank after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.|
Step 2: deposit money into your account
After your account is opened, you can deposit money to the exchange. You can deposit money by transferring funds or by using your credit card.
Step 3: selecting your favourite crypto
Next, you need to decide which crypto you want to invest in. There are thousands of crypto currencies, but on the best-known exchanges you will mainly find the most popular ones. It is wise to read through the white papers of crypto currencies: that way you will get an idea of the crypto currency’s future plans. As soon as you are sure which crypto you want to buy, you can place an order.
Step 4: Buying Bitcoin from Chase Bank
Once you know which crypto you want to buy, you can place an order. Within the platform, navigate to the crypto you want to buy and press the buy button. You then enter the amount you want to buy the crypto for and you can then execute the order. The order is then sent to the exchange and your money is then exchanged for crypto!
Can you buy Bitcoin directly from Chase Bank?
It is not possible to buy Bitcoin & Ethereum directly at Chase Bank and JP Morgan Securities. However, you can possibly invest in shares of crypto companies. However, if you want to invest in crypto directly, you will have to connect your bank account at Chase Bank to a crypto exchange.
Buying bitcoin with Chase Quickpay
Chase Quickplay does allow you to invest Bitcoin directly. However, this way of investing works via peer 2 peer: you then buy the crypto directly from another user. This comes with the necessary risks: many crypto scammers exist and there is no central party to oversee that the transaction is carried out properly.
It may therefore be smarter to invest in crypto at a crypto exchange. At the top of this article, you will find a list of reliable crypto exchanges where you can invest in Bitcoin and other crypto.
What is Chase Bank’s stance on crypto?
Banks in America all have their own opinions on crypto: some firms embrace crypto as the future while others are mostly sceptical. In a recent article, Chase advises investing in crypto only with more money than you are willing to lose. The bank is clearly aware of the high risks crypto poses.
Yet this attitude is more positive than in the past. In 2017, for instance, the bank regularly froze balances of customers who deposited money on crypto exchanges. Still, it is expected to be a long time before you can actively invest in cryptocurrencies as an individual at Chase bank.
Buying crypto with Chase Bank wisely
The failure of FTX shows once again that you have to be very careful when investing in crypto with your Chase Bank account. FTX was the world’s largest crypto exchange after Binance and seemed to have a strong reputation. In the end, customers’ assets turned out not to exist at all and customers practically lost all their crypto.
It is therefore very important to invest in crypto only with reliable parties. The crypto landscape still lacks proper regulation, making it difficult to be 100% sure of the reliability of a platform. However, by moving your crypto to an external wallet after purchase, you take back control and, in case of an exchange’s failure, you won’t immediately run into trouble.
About Chase Bank
Chase Bank of Chase is also known in full as JPMorgan Chase Bank N.A. This large US company headquartered in New York has a long history dating back to 1955.
With more than 5,000 branches and 17,000 ATMs worldwide, JPMorgan Chase & Co is a large and reliable bank. Chase operates in over 100 countries and manages assets worth over $3 trillion dollars! Buying Bitcoin and other crypto at Chase Bank can therefore definitely be a good idea.
Conclusion: to buy or not to buy crypto at Chase Bank?
Buying crypto directly from Chase Bank is out of the question, but by linking the bank to a reliable exchange, you can still invest in crypto. Always be aware of the risks though: with crypto investments, you can safely lose your entire deposit.