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How to Buy Crypto with Mechanics Bank in United States

Last updated on November 12, 2023

Quick Summary: While Mechanics 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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Mechanics Bank Homepage

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

Thankfully there are many crypto exchanges 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 Mechanics Bank

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.

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 Mechanics Bank.

Buy Crypto With eToro

About Mechanics Bank

Mechanics Bank is a full-service community banking financial institution with its headquarters within Walnut Creek California. It was established in 1905 and has branches across the state of California. The bank holds more than $17 billion of assets and more than 1,000 associates working at more than 130 retail locations.

Mechanics Bank was originally chartered in 1905 as The Iverson Bank and Trust Company established by the city of Richmond around 1905. It was changed to The Mechanics Bank in 1907. Soon after the change, Edward M. Downer joined the bank and, by 1919, he was purchasing a majority stake and was soon elected the president.

The first days of the bank began in 1905 in 1905 when E.M. Downer began offering financial services to his clients through a safe on the floor of his office. It was a huge service for the locals as the nearest bank at the time was in The Contra Costa County seat at Martinez 13 miles (21 kilometers) away. In 1915, he was appointed second vice president, and later in 1919, after acquiring the majority of his interest in the bank, he was named president up until the time of his demise in 1938. His successor was the son of his E.M. Downer Jr. in 1939, who was president until 1978.