How to Buy Crypto with RBC Bank
Summary: While RBC 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, RBC 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.
Luckily for us, there are plenty of crypto exchanges to choose from that you can use to buy bitcoin or any other cryptocurrency you might want.
Once signed up to an exchange (we’ll be using eToro for our example as it’s a widely trusted and global exchange), you can simply transfer funds from your bank account to the exchange, and trade it for crypto.
Table of Contents
How to buy crypto or bitcoin with RBC Bank
There are only 4 steps involved, let’s get started!
1. Choose a crypto exchange
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 RBC Bank.
About RBC Bank
RBC Bank is the trading title of RBC Bank Georgia, N.A. The United States-based retail banking unit of Royal Bank of Canada (RBC), which is targeted at Canadian snowbirds, expatriates and frequent tourists, is RBC Bank. RBC Bank, despite its limited reach, is a federally chartered institution. Its trading name is "N.A." letters.
RBC Bank USA (formerly RBC Centura) was the original owner of the brand. It was formed in 2001 by RBC after it acquired Centura Bank, a Raleigh, North Carolina-based bank. RBC Bank USA's American banking division was sold to PNC Financial Services in 2012. RBC Bank's cross-border services for Canadians were transferred over to the newly formed RBC Bank (Georgia), N.A. subsidiary.
Centura Bank was formed when Peoples Bancorp and Planters Corp. merged in Rocky Mount, North Carolina on November 2, 1990. Royal Bank of Canada purchased Centura Banks in June 2001 and rebranded them under the RBC Centura brand. RBC Bank announced that the bank would cease using the name "Centura" in April 2008 and will operate the unit as RBC Bank. As of 2011, Rocky Mount had over 1000 employees working in areas such as mortgage processing and information technology.
RBC Centura bought Tucker Federal Bank parent company Eagle Bancshares, giving it a larger customer base in Atlanta after the 1998 acquisition of Security First Network Bank. The bank had one branch. Flag Bank was acquired by the bank, thereby increasing its presence in Georgia. RBC's Southeast expansion continued after it acquired 39 branches from Birmingham-based AmSouth Bank, which was headquartered in Alabama on March 9, 2007. RBC Centura did not previously have any locations in Alabama.
After the acquisition of Alabama National BanCorporation, RBC's presence in Alabama, Georgia and Florida grew significantly. RBC was approved by the United States on February 5, 2008. 51 branches were reopened as RBC Bank on April 14, 2008. All remaining branches were re-opened in June 2008. ANB was present in three states via eleven subsidiaries.
RBC's 2008 construction of the RBC Plaza (now PNC Plaza) was not the first significant move to make Raleigh, NC a more thriving community. RBC bought the naming rights to Raleigh Entertainment & Sports Arena in 2002. This arena is home to the Carolina Hurricanes and North Carolina State University basketball. With a 20-year lease, the arena was renamed RBC Center. The cost was $80 million. The NHL's Stanley Cup Finals were held at the RBC Center in June 2006. On June 19, 2006, Carolina Hurricanes beat the Edmonton Oilers to win the Stanley Cup.
PNC purchased the naming rights for RBC. The name was changed to PNC Arena in March 2012.
PNC bought RBC in 1995. It had a total workforce of 5,000, with 500 employees located in Raleigh.
RBC Centura participated in the November 2007 "Dunmore Homes” project in Sacramento, California. Construction was stopped on August 8, 2007 due to liquidity problems with the home builder. After being sold to a mortgage lender officer for $500, the company was quickly inducted into New York. In Manhattan, the company filed for bankruptcy. RBC Centura Bank, a major Dunmore Homes lender, learned about the sale details and filed a lawsuit on November 7. In a Fresno County lawsuit, the company claimed that the $500 sale of all assets was inadequate and was intended to "hinder delay and defraud creditors," including RBC.
Four Dunmore projects were funded by RBC, from Bakersfield to Yuba City. Dunmore Homes received a total loan of $105,000,000. According to an affidavit from Dunmore Homes, the owe $39 million. It has also secured claims against these projects as collateral. The company claims that the project's value is less than the loan balance. According to Dunmore Homes, 26 new-home communities are being financed by nine major lenders including RBC.
PNC Financial Services purchased RBC Bank USA from Royal Bank of Canada on June 19, 2011. The purchase price was $3.45 billion. RBC Bank was sold in March 2012. All RBC Bank branches were rebranded to PNC branches upon acquisition. The RBC Bank brand was then discontinued for US customers.
RBC Insurance, RBC Wealth Management, and RBC Investing remained RBC subsidiaries.
RBC eventually offered retail banking services to American customers after it acquired Los Angeles-based City National Bank. This was in 2015.