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How to Buy Crypto with State Street Corporation in United States

Last updated on November 12, 2023

Quick Summary: While State Street Corporation 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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State Street Corporation Homepage

As mentioned in my quick summary, like most United States banks, State Street Corporation 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 exchanges that you can use 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 State Street

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 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 State Street Corporation.

Buy Crypto With eToro

About State Street Corporation

State Street Corporation is an American bank and financial services holding company that is headquartered on One Lincoln Street in Boston and with branches across the world. State Street Corporation is the second-oldest continuously functioning United States bank; its predecessor, Union Bank, was founded in 1792. State Street is listed as 15th in the list of the top banks across the United States by assets.

It is among the biggest asset management firms around the globe, having US$3.9 trillion of assets managed and US$43.3 trillion in administration and custody. State Street is the biggest custodian bank worldwide, offering securities services, and is regarded as a crucial important institution by the Financial Stability Board. Alongside BlackRock along with Vanguard and BlackRock Vanguard, State Street is believed as one of the Big Three index fund managers which dominate the corporate world of America.

This company was ranked at 316th on the Fortune 500 as of 2022. The company is listed on the list of banks too large to fail, which is published by the Financial Stability Board.

The name is derived from State Street in Boston, it was also known as “Great Street to the Sea” during the 18th century when Boston was transformed into a bustling maritime capital. The logo of the company was previously an eagle to symbolize the maritime industry of Boston in the 18th century.