Buy Crypto with Chase Bank | Regulated Platforms (2023) (2024)

FAQs

Why is Chase not allowing me to buy crypto? ›

Chase Bank itself does not offer any services for buying or selling cryptocurrencies, so you'll need to use an exchange that meets the regulatory requirements. By using a regulated exchange in the US, you can ensure that your transactions are secure and that you are protected as a consumer.

If you receive this error, we suggest taking the following steps: Ensure your payment method is registered and you've correctly completed the verification process. Please refer to the identity verification FAQ page. Try again with a different card (Visa or Mastercard), issued by a different bank.

Yes, you can technically buy crypto with your Chase Freedom card — just know that 100% of U.S. credit card companies treat crypto purchases as cash advances. In the eyes of your bank, your Bitcoin purchase is more like an ATM withdrawal, than a regular purchase on Amazon.

Does Chase Bank allow crypto purchases? You can buy cryptocurrency using a Chase Bank account or payment card, however, not on its trading platform. Instead, Chase supports USD deposits to other FinCEN-regulated brokerage and exchange platforms like eToro.

In a move likely to spur other financial institutions into action, JPMorgan Chase now supports money transfers to both the Coinbase and Gemini cryptocurrency exchanges, which are two exchanges that have invested heavily to meet regulatory hurdles.

Moonpay accepts most major credit cards, including VISA and MasterCard. Some virtual, prepaid, and debit cards are also accepted.

We currently support Euro bank accounts that can receive SEPA payments, UK bank accounts that can receive FPS payments, and US bank accounts that can receive ACH payments.

MoonPay is not registered with the U.S. Securities and Exchange Commission and does not offer securities services in the United States or to U.S. persons.

Best high-limit card for bonus cash back: Chase Freedom Unlimited® — $500 minimum limit. Here's why: The Chase Freedom Unlimited® offers a $500 minimum credit limit, but the limit is at least $5,000 if you're approved for the Visa Signature® version of the card.

How do I link crypto to chase? ›

You'll need good to excellent credit to qualify for the Chase Freedom Unlimited®. Generally speaking, this is defined as a credit score of 690 or better. But a credit score alone isn't enough to qualify for any credit card.

Can my bank prevent me from buying crypto? Yes. If the bank flags the transaction you'll have to call them and manually OK the transaction or try a different bank.

If your account isn't recognized as a trusted payment source, you may not be able to buy crypto and add cash on your account. Coinbase uses an automated system to help us protect the community and our site from fraud.

By making a simple SEPA transfer with your bank account, you can buy Bitcoin or any other cryptocurrency directly to your personal wallet without making any initial deposits.

Revolut. Revolut is easily the best challenger bank for crypto in 2023, allowing transactions with exchanges for all account levels, from credit and debit cards to wire transfers. Revolut also offers in-app crypto trading and staking opportunities, making it the number-one choice for crypto enthusiasts.

Which bank works best with Coinbase? ›

Ally Bank is a crypto-friendly bank for cryptocurrency enthusiasts in the United States. This banking service operates 24/7. This bank allows people to purchase and sell cryptocurrencies via Coinbase. It allows you to credit to purchase Bitcoin and other cryptos from exchanges.

Trading Fees

MoonPay's greatest drawback are transaction fees. You pay trading fees and variable network fees, and MoonPay is significantly more expensive than crypto exchanges like Coinbase and FTX.US. Paying 4.5% on card payments is incredibly steep.

Quick ID Verification

With Berbix and Alloy, MoonPay gets their customers registered and trading within 15 minutes.

MoonPay allows you to easily sell Bitcoin and cash out directly into fiat currency and your bank account.

MoonPay is active in more than 160 countries and is trusted by 300+ leading wallets, websites, and applications to accept payments and defeat fraud.

Fees: A flat fee of $4.99 + 3.5% will be applied on top any purchase below $141. Once you purchase $142. and above a fee of 7% will be applied and deducted from your total amount. Additional fees: You may be charged a foreign exchange and foreign transaction fee (depending on the terms of your card issuer).

MoonPay is available to all global customers, excluding residents of Louisiana, Texas, New York, and Hawaii.

MoonPay also charges dynamic network fees that depend on blockchain conditions. This is the same process other exchanges use, and during periods of congestion, network fees can get pretty high, especially for cryptos like Bitcoin and ETH. You see the network fees before executing a trade.

Identity verification services to prevent fraud. This allows MoonPay to confirm your identity by comparing the information you provide us to public records and other third party databases.

Why is my card declining when I try to buy crypto? ›

Many card policies do not yet support cryptocurrency purchases. If you've received one of these errors, this may apply to your card: Card doesn't support crypto transactions. Card often declines crypto transactions.

Bank of America: Does not permit crypto purchases with any of its credit cards. Barclays: Does not permit crypto purchases with any of its credit cards. Chase: Does not permit crypto purchases with any of its credit cards. Discover: Does not permit crypto purchases with any of its credit cards.

Can my bank prevent me from buying crypto? Yes. If the bank flags the transaction you'll have to call them and manually OK the transaction or try a different bank.

The following are a few reasons why you can't place a buy order: You don't have enough buying power to place the trade. Crypto are non-marginable and can't count as collateral, so you'll need to have enough cash in your account to place the order. You don't have enough equity to reach your margin minimum.

Your card may be declined for a number of reasons: the card has expired; you're over your credit limit; the card issuer sees suspicious activity that could be a sign of fraud; or a hotel, rental car company, or other business placed a block (or hold) on your card for its estimated total of your bill.

There's a reason some creditors won't let you buy cryptocurrency with their cards. On top of the volatility of crypto, using credit adds more unnecessary risk to your investment. Unfortunately, Bratcher says that high-risk payment methods will continue to emerge in the crypto sector.

'The two most bitcoin-friendly banks'

The Silvergate Exchange Network (SEN) and Signature's Signet were real-time payment platforms that crypto customers considered core offerings. Both allowed commercial clients to make payments 24 hours a day, seven days a week, through their respective instant settlement services.

After a prolonged bear market in 2020, analysts and investors are optimistic that the crypto markets will rally in 2023. This positive outlook has been bolstered by the fact that the industry has managed to weather the storm and show signs of recovery even in difficult times.

If you are unable to sell or withdraw from Coinbase, it could be due to one of a few reasons: There are restrictions in your region. You are a new account holder. You haven't completed the verification.

Why can't i cash out on Coinbase? ›

It's directly related to purchasing crypto or adding cash in local currency using a linked bank account. For security reasons, you won't be able to immediately cash out your local currency using a linked bank account or send crypto purchased with such funds off of Coinbase (we call this “cashout availability”).