Does USAA allow crypto purchases?

  • 10/07/2021
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The emergence of DeFi organizations in the crypto industry encouraged many institutional investors to pay attention to financial blockchains deployed on blockchain more carefully. Millions of people willing to invest their money in digital assets and dozens of promising projects offering their unique solutions have made the crypto market an attractive one for big names in finance. USAA is one of many institutions that incorporated cryptocurrency services in its business model. Discover how USAA uses Bitcoin by reading this article.

Key Points:

Does USAA accept Bitcoin?
  • USAA is an American financial institution designed for US military personnel.
  • USAA members can link their Coinbase accounts and view all of their transactions in the USAA app.
  • USAA clients who own businesses can accept crypto using NOWPayments’ solutions.

What is USAA?

What is USAA?

USAA is short for the United Services Automobile Association, a company which over its long history of existence, has managed to expand its range of services from insurance to banking and investments. USAA is a group of companies that operate in different spheres. The particular feature of USAA is that its products can only be accessed by active and former military personnel, as well as their spouses and children. Moreover, in order to start working with USAA, a serviceman needs to join the organization and be eligible to become its member. USAA makes a large assortment of tools available to its members, from education plans and brokerage services to credit cards and loans.

How USAA Uses Bitcoin

How USAA Uses Bitcoin

USAA recognized the demand for cryptocurrency services among its members quite early. Instead of taking time and allocating resources to creating its own crypto exchange and wallet infrastructure, USAA decided to use the existing solutions. Thus, in 2015, USAA partnered with Coinbase to bring the option of managing cryptocurrency to its clients. Essentially, USAA lets its members link their Coinbase accounts to USAA and thus monitor their crypto balance. USAA users also can transfer their money between their USAA and Coinbase accounts. Such an arrangement makes it fairly easy for USAA clients to manage all of their funds in one place. Additionally, USAA has a mobile app which is even more convenient.

Currently, USAA does not accept Bitcoin directly, but its partnership with Coinbase certainly gives one hope that it may change in the near future. For now, USAA members can enjoy tracking all of their crypto transactions using the USAA app.

How Businesses can Accept Bitcoin

While USAA does not feature crypto payments, more and more businesses begin doing it. NOWPayments provides crypto payment gateway solutions to merchants and organizations that want to accept cryptocurrencies from clients.

NOWPayments has designed several tools for facilitating crypto transactions. Small businesses can create crypto invoices or use the web-based PoS terminal to issue separate crypto invoices to each client. Owners of eCommerce stores that utilize the services of Shopify, WooCommerce, PrestaShop, and other platforms can accept crypto using plugins.

Bloggers and charities can collect donations from their audience members by employing widgets, buttons, and links. NOWPayments does not store the crypto of its clients and deposits all payouts instantly.

Conclusion

USAA is a major financial services firm that helps US military personnel to leverage their resources more constructively. The company has partnered with Coinbase to let its members gain access to their crypto holdings in the USAA app. Does USAA accept Bitcoin? No, but there is still a chance that it will start offering cryptocurrency trading eventually.

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