Cryptocurrency, online banks, and fintech companies are some of the latest financial innovations to come out of the past decade.
Bitcoin is the most popular cryptocurrency and Chime is one of the most popular fintech companies, but can you use them together?
You can’t buy Bitcoin with Chime directly. Chime, like most other financial institutions, is wary of cryptocurrency and isn’t as willing to let their customers invest in it as other companies might be. However, if you want to invest in Bitcoin with Chime, you can do it trough Paxful, Cash App or Coinbase.
Just because you can’t buy Bitcoin directly through Chime doesn’t mean you can’t use your Chime wallet to purchase some of the cryptocurrency.
You can do this through sites like Paxful, a P2P exchange app specializing in cryptocurrency transfers.
If you’re interested in purchasing cryptocurrency through a fintech app like Chime, another option may be to purchase it through another fintech app like Cash App.
While other fintech apps like Paypal also offer Bitcoin, they don’t support the Chime debit card.
You can also head straight to the apps that sell Bitcoin as well. Apps like Coinbase and Binance offer easy ways for new investors to get started with Bitcoin.
How to Buy Bitcoin with Chime using Paxful
Paxful is a huge online marketplace for crypto investors to buy their favorite coin: Bitcoin.
You can buy Bitcoin through over 350 different payment methods on their website.
These payment methods range from the more traditional, like a check, to a little more unconventional, like a car.
One of the 350 payment methods is to use a Chime instant transfer.
If you create an account with Paxful, you can link your Chime account and use an instant transfer to purchase Bitcoin.
You can also purchase cryptocurrencies Tether and USD coin.
It’s easy to buy Bitcoin on Paxful using Chime.
All you have to do is create an account, get your free Bitcoin wallet, enter how much you want to spend, and finally, search the marketplace for the buyer you want to do business with.
You can also choose the currency you want to do business with on Paxful if you don’t want to do it in USD.
Once you transfer the payment from your Chime account, the Bitcoin should be moved over to your free Paxful Bitcoin wallet.
Getting an account with Paxful is easy.
All you need Is your phone number, email address, and identification.
Paxful is a very secure site to use.
The payment and the Bitcoin go into an escrow account making sure both sides of the transaction get what they bargained for.
Chime may have had problems with its customers buying cryptocurrencies in the past, but from what I’ve seen online researching this article, they shouldn’t give you too many problems buying Bitcoin through Paxful.
How to Buy Bitcoin with Chime through Cash App
While Cash App and Chime have a lot in common, they aren’t entirely similar.
One of the biggest differences between the two is that you can buy Bitcoin through Cash App.
Luckily, you can connect your Chime account to Cash App in order to buy Bitcoin.
You can connect your Chime account to Cash App like you would any other bank account.
To connect your Chime account to Cash App, start by opening up your Cash App and heading to the profile section. On the home screen, it’s the button in the upper right hand corner.
From your profile section in Cash App, scroll down and click on the button that says Linked Banks.
Click Link Bank or, if you already have a bank linked, click on it and click replace bank. Cash App will then give you a screen letting you know that they use Plaid to link your bank account.
Plaid is a very popular software used by a lot of different fintech companies to connect their service to external bank accounts in a secure and reliable manner.
It’s entirely free and you don’t have to use it if you don’t want to.
Plaid will display a list of all the most popular banks.
Chime isn’t one of the first they display, so you can use Plaid’s search bar to find them.
Once you find Chime in Plaid’s search bar you’ll be asked to enter your Chime credentials.
Once you enter your Chime credentials, Chime will ask for your permission to share your information with Plaid and Cash App.
If you choose to say yes, Chime can share all of your information automatically, saving you from having to enter any of it yourself.
If you don’t want to share your information, you can enter it yourself. All you need is your Chime routing number and account number.
Once your Chime account is correctly linked to Cash App, you’ll see the last three digits of your account number along with the words Stride Bank in your Linked Bank section of Cash App.
Now, whenever you want to buy bitcoin on Cash App, you can do so using your Chime balance.
There are limits to how much Bitcoin you can buy and sell on Cash App.
My current limits are $100,000 a week in Bitcoin sales and an unlimited amount in purchases, as I have a fully verified account.
Can You Use Chime on Coinbase?
Coinbase is one of the most popular cryptocurrency exchanges online. You can even connect your Chime debit card to the service, enabling you to buy Bitcoin with your Chime balance.
I do want to mention, this may go against Chime’s terms of service, so be aware before you make a purchase.
I have also seen reports of users having difficulty getting their money from Coinbase back to Chime, even though they had no problem moving their money from Chime to Coinbase.
If you still want to use your Chime debit card on Coinbase, you can start by creating a Coinbase account. Coinbase has both an app and a website that you can use, and it doesn’t make a difference which you choose to make your account.
To link your Chime debit card to Coinbase, after you’ve made your account, head to the settings portion of Coinbase.
Click on a button that says “Payment Methods” and add your Chime debit card.
Input your Chime debit card’s information, including your card number, expiration date, and security code on the back.
Once Coinbase has connected your card to their system, they will want to verify that they have the right one.
They verify your card by making trial deposits, small deposits of less than a dollar.
Once you see the trial deposits in your account, enter the dollar amounts back into Coinbase to confirm that they have indeed sent the money to the right account.
Again, I want to reiterate that this may not be what Chime wants for their customers, and if you do this there could be repercussions. Check with Chime customer service to be sure, as each account is different.
Once the trial deposits have been confirmed, you should be able to buy Bitcoin on Coinbase using your Chime debit card.
Can I Use Chime to Send Bitcoin?
While you can’t use Chime to purchase Bitcoin directly, many users wonder if you can use it to send Bitcoin to other users.
Venmo, PayPal, and Cash App can all send Bitcoin to other users on their respective platforms, so can you use Chime to send Bitcoin to other people as well?
Unfortunately, you can’t.
Chime doesn’t have all the extensive cryptocurrency features as some of its fintech company competitors.
If you want to use your Chime balance to send someone Bitcoin or another cryptocurrency, your best bet may be to link your Chime debit card to one of the fintech companies listed above.
What Crypto Apps Accept Chime?
Fintech companies and online banks are very new in the financial world.
Many financial institutions don’t know how to treat them — are they banks, or something else?
Chime falls into this category, with a lot of other financial institutions not accepting their debit card, or treating it as a prepaid card, barring them from their service.
If you’re looking to use Chime on your crypto app, you may run into some trouble.
But, there are a couple of crypto apps that accept Chime, including Uphold, eToro, and Coinbase.
To use any of these crypto apps and Chime together, all you have to do is create a profile through the crypto app, and add Chime as your payment method.
You can usually add Chime through your Chime debit card, but some of these crypto apps may accept your Chime account number and routing number instead.
I want to reiterate that using Chime and a crypto app may go against their terms of service, leading them to close your account.
Before investing with a crypto app and Chime together, I’d recommend reaching out to their customer support team and making sure that your account is eligible for cryptocurrency transactions.
Check out more guides about using Chime I’ve written:
- 3 Main Differences Between Chime and Chase
- Chime Takes on Traditional Banks: Why It is Winning Over
- 5 Convenient Ways to Put Money on Your Chime Card
- Chime Bank Name and Address (How to Set Up Direct Deposit)
- What to Do: Chime Closed Your Account with Money in it
- 3 Main Ways How Does Chime Make Money