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How to Buy Crypto with Synchrony Financial in United States

Last updated on December 9, 2023

Quick Summary: While Synchrony Financial 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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Synchrony Financial Homepage

As mentioned in my quick summary, like most United States banks, Synchrony Financial 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.

There are a large number of crypto exchanges 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 Synchrony 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 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 Synchrony Financial.

Buy Crypto With eToro

About Synchrony Financial

Synchrony Financial is a consumer financial services firm based in Stamford, Connecticut, United States. The company provides consumer finance products, such as loans, promotions, loyalty programmes, as well as installment loans to companies and FDIC-insured savings for consumers. products via Synchrony Bank, its wholly owned subsidiary online bank.

Synchrony is the biggest provider of credit cards with private labels within the U.S. Brands partnered with Synchrony include Amazon, Lowe’s, Guitar Center, Gap, Cathay Pacific, Rakuten, Verizon, Sleep Number, and Sam’s Club.

In the year 2019 Synchrony increased its home and auto acceptance locations as well as value propositions. Synchrony has partnered in 2019 with Discover Financial, and launched the Synchrony HOME Credit Card, which can be used by customers to finance their home expenses in more than a million retail stores all over the nation. Synchrony also expanded the Car Care acceptance network to more than 500,000 locations in 25 categories that include gasoline, auto parts and services, car washes parking and ride-sharing.

Synchrony’s corporate ventures division, Synchrony Ventures, invests in companies at the beginning of their development that offer the latest technology and products.

In the year 2016, Synchrony Financial launched Digital Apply which is a credit application website. It also launched SyPI (Synchrony plug-in) an option for mobile apps of retailers, that allows customers to get access to their credit card details. In 2019 more than 20 retailers had embraced SyPI and over 2 billion dollars in credit card transactions had been processed using SyPI.

In the year 2018, Synchrony created the Alexa Store Card ability to allow customers to manage their Amazon Store Card accounts using the voice technology.

The large majority of the retail stores that Synchrony has are using Synchrony’s AI-powered Virtual Assistant Sydney to card holders.