Key Takeaway: GoBank allows customers to invest in crypto through regulated exchanges, though it doesn’t directly support crypto trading.
Kraken is the top choice for GoBank users, offering instant, fee-free USD deposits via wire and ACH, and access to over 200 digital currencies for trading and staking, all under FinCEN compliance.
- Instant and free USD deposits from GoBank via ACH, bank transfer, credit cards and more.
- Trade and stake over 200 crypto assets with industry-leading fees and tight spreads.
- Registered as a Money Services Business with Financial Crimes Enforcement Network (FinCEN).
Can I Buy Bitcoin with GoBank?
Absolutely, GoBank users can obtain Bitcoin and a wide variety of other digital assets by transferring funds to a trusted crypto exchange in the United States. We recommend selecting a trading platform that is recognized by the Financial Crimes Enforcement Network (FinCEN) or other relevant authorities to ensure regulatory compliance in your region. Simpy transfer money to the exchange and swap your USD directly for cryptocurrency.
How to Buy Crypto with GoBank
GoBank customers keen on digital currency trading can do so by using a reliable crypto exchange like Kraken. It operates under FinCEN's supervision, providing a secure trading environment for US investors. Kraken accommodates the purchase, selling, and trading of a wide variety of more than 200 cryptocurrencies. American investors can deposit USD through ACH, wire transfers, and debit or credit cards.
For investors based in the USA, getting started is simple by following these steps:
- Account Setup: Register an account on Kraken, and complete all necessary identity verification.
- Currency Selection: After logging in, navigate to the deposit section and USD as your preferred fiat currency.
- Fund Account: Choose your desired payment method, such as ACH transfer, wire transfer, or credit or debit card.
- Purchase Cryptocurrency: Lastly, pick the cryptocurrency you wish to buy, confirm the operation, and the process is complete.
GoBank Cryptocurrency Policy
GoBank displays a positive attitude toward financial innovation, taking a progressive view on cryptocurrencies. It allows customers to buy digital currencies through reliable platforms like Kraken, adhering to the Securities and Exchange Commission (SEC) laws, enabling a smooth investing process. Kraken is listed as a Money Services Business (MSB) under FinCEN and functions under Payward, Inc., registration No. 31000239561651.
Digital Asset Investing Fees
Knowing about the fees associated with cryptocurrency investments is essential for all investors. Some charges levied by Kraken might influence your investment returns. Here's a breakdown of the costs:
- Spot Trading Costs: Kraken spot trading fees are determined on a sliding scale, starting at 0.16% for order makers and 0.26% for order takers. Higher trading volumes can result in lower fees, potentially increasing your returns.
- Deposit Fees: Crypto deposits in your Kraken account are free. However, fiat currency transfers might involve small fees based on the payment method selected, such as ACH transfers or credit and debit cards.
- Withdrawal Costs: Kraken applies standard fees for withdrawals, dependent on the cryptocurrency type. For example, withdrawing Bitcoin incurs a fee of 0.0005 BTC.
Kraken's fees are reasonable in comparison to industry standards and become increasingly more attractive as trading volume rises. Both deposit and withdrawal fees are competitive, making it a suitable option for investors seeking optimal returns.
What is GoBank?
GoBank was introduced in 2013 as the premier mobile checking account by the fintech company, Green Dot. It shares features with GO2bank, such as early direct deposit and the convenience of depositing cash at participating retailers. To avoid the monthly fee, direct deposits are necessary, and the bank operates without any physical branches.
With customer experience in focus, GoBank has earned a reputation for its innovative solutions and commitment to meeting customer needs. Its fee-free ATM network, early paycheck access, and mobile check deposits make it an excellent option for customers who value convenience and ease in their banking experience.
Final Thoughts
In conclusion, GoBank facilitates customers’ interest in digital currencies by allowing access to reliable, FinCEN-regulated digital asset exchanges, like Kraken. Providing access to over 200 cryptocurrencies, as well as offering unwavering adherence to regulatory compliance, Kraken ensures a secure trading environment for investors. Regular audits verify the site’s collateral for user assets, meaning all transactions are fully backed.
Dylan Matthews is the Co-Founder and head of operations at Buy Crypto Bank, with a background in engineering and experience as a Prop Trader. He has leveraged his knowledge and skills to build and scale the platform, providing users with a seamless experience for buying and selling cryptocurrency.
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