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How to Buy Crypto with New York Community Bank in United States

Last updated on November 12, 2023

Quick Summary: While New York Community 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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New York Community Bank Homepage

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

There are a large number of crypto trading platforms that you can use 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 NYCB

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 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 New York Community Bank.

Buy Crypto With eToro

About New York Community Bank

New York Community Bancorp, Inc. is the parent company of Flagstar Bank, N.A. which is one of the largest local banks across the nation. The Company is located at Hicksville, New York with regional headquarters in Troy, Michigan. Proforma, as of September 30 2022 as of September 30, 2022, the Company was carrying $88.4 billion in funds, $66.0 billion in loans and deposit of $58.3 billion and equity of stockholders in the amount of $9.3 billion.

Flagstar Bank, N.A. has 395 branches spread in nine states, with strong positions within both the Northeast as well as the Midwest with exposure to markets with high growth within areas like the Southeast as well as the West Coast. through the company’s Flagstar Mortgage division, the Company operates across the country through 81 retail home loan offices as well as an expansive wholesale network of around 3000 mortgage originators from third parties.

New York Community Bancorp, Inc. via its bank subsidiary, Flagstar Bank, N.A. has roots in two of the largest markets: the Northeast particularly, New York City and in Michigan. The Company was established in 1859, as the Queens County Savings Bank which was the only bank to be established by the state of New York in the New York City Borough of Queens. The Company was listed on the stock exchange in 1993 and has since grown organically, and through a number of accretive acquisitions and mergers which culminated in the latest acquisition Flagstar Bancorp, Inc. that was closed on the 1st of December, 2022.

The roots of Flagstar Bank go from 1987, in Bloomfield Hills, Michigan when it was called First Security Savings Bank. It was established as a federal savings and savings company in 1987, and took on its Flagstar designation in. This was in response to the acquisitions that it made that it had made on its own. Flagstar has retail outlets in four states of the Midwestern region and in California and its mortgage division is active across the country.