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How to Buy Crypto with Eastern Bank in United States

Last updated on November 12, 2023

Quick Summary: While Eastern Bank 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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Eastern Bank Homepage

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

Thankfully there are many cryptocurrency 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 Eastern Bank

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

1. Pick a crypto 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.

Sign Up With eToro

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 crypto

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 Eastern Bank.

Buy Crypto With eToro

About Eastern Bank

Eastern Bank is a bank that is headquartered within Boston, Massachusetts. Prior to its demutualization in 2020, it was the longest-running large mutual institution across the United States and the largest community bank in Massachusetts. Eastern had 95 branches.

Eastern was able to hold a 3.2 percent percentage of market shares in Massachusetts in 2016. It was established around 1818, in Salem in Massachusetts, then relocated in 1818 to Lynn, Massachusetts. The company launched an aggressive expansion program towards the end of the 90s and relocated its headquarters in the Boston Financial District. In the year 2020, Eastern Bank announced plans to cease mutualization and transition into an openly traded corporation.

Eastern Bank was established on April 15th, 1818 in the name of Salem Savings Bank and became insured by the Federal Deposit Insurance Corporation on October 1st 1983. On the 19th of October in 1989 Eastern Savings Bank’s parent company, Lynn located in Massachusetts, Eastern Bank Corporation, renamed it Eastern Bank, and reorganized it into a mutual holding corporation that was one of the very first companies of its type in Massachusetts.

In June of 2020, Eastern Bank announced that it would de-mutualize to become a publicly traded institution. Eastern Bank’s IPO took place in October 2020. The IPO resulted in $1.8 billion with an estimated market capitalization that was $19 billion.

The 7th of April, 2021 Eastern Bank announced that it had agreed to join with Medford in Massachusetts, Century Bank, with Eastern Bank remaining as the main institution. The announcement was made with a value at $642 million.