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How to Buy Crypto with Simmons Bank in United States

How to Buy Crypto with Simmons Bank in United States

By Martha Perry

Last updated on November 12, 2023

Quick Summary: While Simmons 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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As mentioned in my quick summary, like most United States banks, Simmons 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 trading platforms 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 Simmons Bank

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

1. Pick a crypto 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.

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 Simmons Bank.

Buy Crypto With eToro

About Simmons Bank

Simmons Bank is a bank that operates within Arkansas, Kansas, Missouri, Oklahoma, Tennessee, and Texas. It is the main affiliate of Simmons First National Corporation, an institution that holds bank assets.

The bank was established by Dr. John Franklin Simmons in Pine Bluff, Arkansas in 1903. In 1933 in the midst of the Great Depression, it was one of the first Arkansas banks to reopen following the federally-imposed “bank holiday”. It was in the year 1967 that it became the first institution in Arkansas to provide credit cards. On the 23rd of March 1984, a customer (Mary Stone) took out $285 from an automated teller machine located in Sydney, Australia in the first transaction ever made through an ATM.

The company was acquired in October of 2012 when it purchased Excel Bank. The company then bought Metropolitan National Bank. The acquisition also included Simmons Tower. On August 14, 2014, the firm purchased Delta Trust & Bank. In February of 2015 the company purchased Liberty Bancshares and Community First Bancshares. In November of 2015 the company purchased Ozark Trust and Investment Corp. In September of 2016 the company purchased Citizens National Bank. The company then bought First South Bank. In October of 2017 the company bought Southwest Bancorp, Inc. and First Texas BHC, Inc. In April of 2019 the company bought Reliance Bancshares, Inc.

In July of 2019 the company bought Landmark Bank, Inc. which is a affiliate belonging to Landrum its parent firm with its headquarters in Columbia, Missouri, for approximately $434 million. The merger was concluded and marketing adjustments were made on February 18 and 18.

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Martha Perry

Martha Perry brings a wealth of experience in personal finance and consumer banking. Her advice on credit management, savings, and investment has empowered many to improve their financial health. Martha's approachable manner and clear, practical advice resonate with a broad audience, from savvy investors to financial novices.