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How to Buy Crypto with Webster Bank in United States

Last updated on November 12, 2023

Quick Summary: While Webster 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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Webster Bank Homepage

As mentioned in my quick summary, like most United States banks, Webster Bank doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a crypto exchange 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.

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 Webster 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.

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 crypto

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 Webster Bank.

Buy Crypto With eToro

About Webster Bank

Webster Bank is an American commercial bank that is headquartered at Stamford, Connecticut. There are 177 branch locations as well as 331 ATMs that are located within Connecticut; Massachusetts; Rhode Island and Westchester County, New York.

Webster was established around 1935, in 1935 by Harold Webster Smith as the First Federal Savings of Waterbury in Connecticut. At just at the age of 24, Smith borrowed from family and friends to create the institution that provided mortgages for homeowners Connecticut residents. Smith was CEO from 1987 to 1987 and then as chairperson of the board until 1995 , when First Federal was renamed Webster Bank in honor of his name.

Webster Financial Corporation is the holding company for Webster Bank, N.A. as well as Webster Insurance. Webster Bank owns the asset-based lending company Webster Business Credit Corporation, the company that provides insurance premium finance Budget Installment Corporation, Webster Capital Finance and also provides the health savings account trustee as well as administration assistance via HSA Bank of Sheboygan, Wisconsin which is an affiliate from Webster Bank.

The year 2015 was the most successful for Webster Bank. Webster Bank had over $24 billion in assets , and an estimated market capitalization of $3 billion. The network was comprised of the 177 branches and 331 ATMs that were located throughout Connecticut; Massachusetts; Rhode Island in addition to Westchester County, New York.

Following that $5 billion merger between USD 2022 and Sterling the assets grew to $65 billion. There are more than 380 ATMs, 202 branches and a more extensive presence across New York City. New York city area, including New Jersey.