How to Buy Crypto with First Republic Bank
Summary: While First Republic Bank doesn’t offer crypto trading on its own platform, you can easily use your account to buy crypto using a third-party cryptocurrency exchange.
There are plenty of crypto exchanges to choose from, we recommend using eToro as the exchange to work with.
They have most of the popular cryptocurrencies available, are easy to work with, and have fantastic support!
Buy Crypto with eToro
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As mentioned above, just like most banks, First Republic Bank doesn’t offer cryptocurrency trading directly, as setting up a cryptocurrency trading platform is quite complex and comes with regulations and extra requirements for the banks.
There are many crypto trading platforms that you can use for buying bitcoin and other cryptocurrencies.
You can sign up for an exchange (we will use eToro as our example because it is a trusted and worldwide exchange) and transfer funds to the exchange to trade crypto.
Table of Contents
How to buy crypto or bitcoin with First Republic Bank
There are only 4 steps involved, let’s get started!
1. Choose a crypto trading platform
As mentioned above, we’ll be using eToro for this guide as they are a widely used exchange and have over 50 cryptocurrencies to choose from. They also have a few really neat features like “Copy Trading”, which enables users to copy the trades of popular investors on the platform.
Let’s get started!
2. Sign up with the trading platform
The first thing to do is to sign up with the platform.
Once you’ve completed the initial sign-up process, you’ll have to go through a quick verification process (also known as KYC).
3. Funding your account
Next up is funding your account. When it comes to depositing money to your eToro account, you have the option to use a bank transfer, PayPal, credit/debit card, and more.
4. Buy crypto
Finally, just go to the eToro Markets section, find the cryptocurrency you would like, and buy it.
And that’s it, it’s all pretty straightforward, now you know how to buy bitcoin or most other cryptocurrencies with First Republic Bank.
About First Republic Bank
First Republic Bank has the best interest rates and features for customers with large account balances. This makes it an attractive choice for those who have a lot of money in deposits.
First Republic Bank, a bank and wealth manager company, has about 87 locations in various cities throughout the United States.
First Republic Bank Classic Checking accounts require a minimum $500 deposit in order to open. The account doesn't pay interest, but charges $25 per month for service.
Classic Checking accounts come with a free initial order of checks.
First Republic Bank offers an ATM Rebate Checking Account for customers who frequently withdraw from ATMs outside of their network. This account allows you to keep at least $3,500 in a checking account. A $25 monthly fee will be charged if your daily average balance falls below $3,500.
First Republic does not charge ATM withdrawal fees or rebates outside-of-network fees. This includes transactions made outside of the U.S. However, fees from certain countries may not be refunded.
ATM Rebate Checking accounts pay a small amount of interest for balances greater than $3,500 and require a minimum $500 deposit.
First Republic Bank CDs have a high minimum deposits requirement. However, higher yields can also be found elsewhere.
There are many terms available. However, better deals can be found at banks that offer them.
You can withdraw money from the liquid CD at any time during the seven-day period without being charged a penalty.
To avoid paying a $25 monthly maintenance charge, the Money Market Savings account must have a minimum of $5,000. Account holders will need to keep that balance in order to avoid the $5k minimum deposit.
Five interest tiers are available for the Money Market Savings account: Below $50,000, $50,000 or More, $500,000 or More, $500,000 or More, $2 Million or More, $5 Million or Less, and $5,000,000 or Less.
The highest-tier APY paid on balances greater than $5 million is not competitive with money market accounts at online banking that do not have a minimum balance requirement.
First Republic Bank provides phone support seven days per week. This makes it easy for customers to access the help they need when they need it. It offers financial advice on its website. However, its mobile app has been rated highly by iOS users. Android users are less enthusiastic. The app received a 3.6 overall rating.
First Republic Bank is a bank/wealth management company that has offices in many cities throughout the United States. This bank was established in 1985 and offers checking, savings, and money market accounts. You can also choose from a range of CD terms.