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How to Buy Crypto with Charles Schwab Corporation in United States

How to Buy Crypto with Charles Schwab Corporation in United States

By Hong Xie

Last updated on December 21, 2023

Quick Summary: While Charles Schwab Corporation does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of United States cryptocurrency exchanges to pick from, but we suggest using the eToro exchange.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.

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As mentioned in my quick summary, like most United States banks, Charles Schwab Corporation doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a cryptocurrency exchange and comes with regulations and extra work for the banks.

Thankfully there are many crypto trading platforms to pick from that allow you to buy Bitcoin and other cryptocurrencies.

Once you’ve signed up to a crypto exchange (in our example I’ll be using eToro as it’s a highly trusted and global exchange), you can easily move money from your bank account to the trading platform., and exchange it for a variety of cryptocurrencies.

How to buy crypto or bitcoin with Charles Schwab

Let’s get started! Just follow our 4 quick steps.

1. Pick a cryptocurrency exchange

As mentioned above, I’ll be using eToro for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For eToro there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy cryptocurrency

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with Charles Schwab Corporation.

Buy Crypto With eToro

About Charles Schwab Corporation

The Charles Schwab Corporation is an American multinational company that provides financial services. It provides commercial, banking, investment, banking and other services such as consulting, financial advisory services for both institutional and retail customers. It has more than 360 branches, with the majority located in financial centres in both the United States and the United Kingdom.

It is the 7th biggest bank across the United States with over US$8.5 trillion in assets of clients. It was home to 29.0 million brokerage accounts in active use, 2.1 million corporate retirement plan participants, 1.5 million banking accounts and $8.5 trillion in assets of its clients at the time of February 7th 2022. It was established at San Francisco, California, and has its headquarters at Westlake, Texas.

The company was founded under the name of Charles Schwab & Co. in 1971, named after its founder Charles R. Schwab, the firm capitalized on the financial liberalization of the 1970s and pioneered discount the sale of securities that were equity. After its first major opening in Sacramento The bank expanded to Seattle prior to the growth spurred the bank to make investment in automation, technology and digital record-keeping.

First to offer round-the-clock order entry and quotation, it was acquired from Bank of America in 1983 for $55 million. Then, three years after, the financial success of the bank’s no-cost mutual funds inspired the founder to purchase his company in return with a purchase price of $280 million.

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Hong Xie

Hong Xie is a seasoned banking professional whose expertise spans over two decades. Known for his strategic approach to financial planning and wealth management, Hong has helped countless individuals and businesses achieve their financial goals. His analytical skills and thorough understanding of financial regulations ensure that his advice is both practical and compliant.