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How to Buy Crypto with Santander Bank in United States

Last updated on November 26, 2023

Quick Summary: While Santander 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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Santander Bank Homepage

As mentioned in my quick summary, like most United States banks, Santander Bank 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 cryptocurrency exchanges to pick from that allow you to buy Bitcoin and other cryptocurrencies.

Next you’ll want to sign up to an exchange (for this short guide I’ll use eToro as it’s a global and widely used exchange) and deposit funds so you can start trading crypto.

How to buy crypto or bitcoin with Santander Bank

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

1. Pick a cryptocurrency trading platform

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 Santander Bank.

Buy Crypto With eToro

About Santander Bank

Santander Bank, N. A. (/,sa:nta:n’de@r/) previously Sovereign Bank, is a 100% owned subsidiary part of the Spanish Santander Group. It is headquartered in Boston and its primary customer base is in the Northeastern United States. It holds $57.5 billion in bank deposits and operates around 700 retail banks, and more than 2,000 ATMs and employs around 9,800 people. It provides a range of financial products and services such as mortgages, retail banking corporate banking, corporate banking managing cash and credit cards capital markets as well as wealth and trust management, and insurance.

Santander Bank, N.A. was established on the 8th of October 1902, as Sovereign Bank, a savings and loan company in Wyomissing, Pennsylvania. The first customers of the company were mostly workers in the textile industry. Sovereign increased its size rapidly during the savings and loans crisis in the 1980s and 1990s and acquiring a number of banks. in 2000 Sovereign acquired two-and-a-half New England branches from the newly-merged FleetBoston Financial, becoming the third-largest retail banking institution in the Boston region. The purchase was prompted by a mandate by regulators of banks to require that Fleet Bank and BankBoston divest 306 branches to be eligible to a merger.

In the latter part of September the bank announced it would switch its brand name “Santander” as part of its parent company’s plan to establish a global brand. The rebranding process was completed on the 17th of October 2013.

In March of 2015, Scott Powell was appointed as the chief of U.S. business at Santander as well as the CEO of Santander Holdings USA, replacing Roman Blanco. Powell quit his position as CEO in December of this year. Powell was succeeded by Timothy Wennes.