Thinking about buying cryptocurrency with your Bank of America credit card? You're not alone! Many people are exploring this option. The short answer is yes, you can buy cryptocurrencies with a Bank of America credit card. However, the process may not be as smooth as you’d like. For example, some banks, including Bank of America, have hesitated to allow direct cryptocurrency purchases with credit cards. This is largely due to the high volatility associated with crypto.

How Can You Buy Crypto with Bank Of America?

While directly purchasing crypto with your Bank of America credit card might be tricky, there are alternative methods. A regulated third-party site like eToro is the simplest option for Bank of America customers to invest in cryptocurrency. You can also explore connecting your Bank of America debit card to a cryptocurrency exchange. To use this option, you must link your Bank of America debit card to your cryptocurrency exchange.

Keep in mind that major banks like Citibank, Bank of America, and Wells Fargo do not allow direct purchases of crypto. Crypto exchanges often accept credit cards, but your bank provider will likely treat these transactions as cash advances, incurring higher fees and interest rates.

Alternatively, Customers of Bank of America can instead use their BofA bank account to purchase Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies through a third-party exchange by linking their bank account directly, bypassing the credit card limitations.

Read the previous article, “Can I buy Crypto with a Bank of America Credit Card?” here. for more in-depth information.