How to buy crypto from KeyBank (Bitcoin/Ethereum)
Unfortunately, you cannot buy Bitcoin, Ethereum or other crypto directly from KeyBank. However, by opening an account with a reliable crypto exchange, you can still invest in crypto!
The roadmap to investing in crypto at KeyBank
Step 1: open an account with a reliable crypto exchange
To buy crypto with your account at KeyBank, you need an account at a reliable crypto exchange. A crypto exchange is a company that brings together that supply and demand for crypto. Below you can immediately see a list of reliable exchanges where you can invest in crypto:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with KeyBank after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Step 2: activate your account
Before you can get started investing in crypto, you need to activate your account. You do this by confirming your identity and address.
After your account is activated, you can transfer funds to the crypto exchange from your KeyBank account. Please note that it may take a few days for the transaction to be processed.
Step 3: buy crypto!
Now that you have an account with a crypto exchange, you can finally use the funds at KeyBank to buy crypto! To do this, navigate to the crypto you want to invest in and press the buy button. Keep in mind that it may take several minutes before the transaction is actually carried out. There may also be small price differences between exchanges, as they all have their own market where supply and demand determine the price.
The future of crypto
Some people actively speculate on the price of crypto. This can be interesting: you can speculate on both rising and falling prices this way. If you are not a professional, though, this is very difficult. After all, few people manage to consistently beat the market.
If you are confident about the future of crypto, you can also choose to invest for the long term. In crypto terms, this is also known as hodling.
I myself use this strategy; I buy Bitcoin and Ethereum monthly for a fixed amount. That way, I buy crypto at both relatively low and high prices. This gives me peace of mind and ensures that I receive average returns on crypto in the long run.
Of course, the exact future of crypto is uncertain. It is therefore important to consider the risks when investing in crypto with your KeyBank account. In the Western world, my guess is that it will be a long time before crypto will be used as an actual currency. In countries with unstable exchange rates, is where I see crypto playing an important role; after all, when your own currency and government is unreliable, a decentralised system can offer a solution.
KeyBank is part of KeyCorp which is a regional bank headquartered in Cleveland, Ohio. KeyBank is one of the largest banks in America and with as many as 1,000 branches and more than 40,000 ATMs, they manage to reach an extensive number of customers.
KeyBank is a high-quality bank, but you need to deposit a minimum of $2,500 to open an account. You can turn to KeyBank for various financial services: for example, online banking, savings and investing. The bank also excels at customer service, as they are available 24/7. Now we just have to wait for crypto to become available at KeyBank!