(BCH) Bitcoin Cash has attracted a dedicated community of supporters who champion its vision of a scalable, low-cost digital currency. Bitcoin Cash remains a prominent player, offering an alternative vision for the future of digital cash.
Litecoin (LTC) is a peer-to-peer cryptocurrency designed to complement Bitcoin rather than compete with it. Litecoin has established itself as one of the oldest and most widely adopted cryptocurrencies in the market.
Polkadot (DOT) is an interoperability hub connecting multiple blockchains for seamless data sharing.
Filecoin (FIL) is a decentralized storage network designed to allow users to store, retrieve, and share data securely on a global scale.
Shiba Inu (SHIB) is a playful token and a light-hearted alternative to Dogecoin (DOGE) with a vibrant ecosystem of DeFi and NFTs.
Stellar (XLM) is a decentralized platform designed to facilitate cross-border payments and asset transfers quickly and at a low cost.
NO LONGER AVAILABLE
Polygon (MATIC): is no longer available as an asset in the Investment Portal.
You can access the (Self-Directed) Investment Portal inside Consumer Online Banking (OLB) and/or the Consumer App:
- Login to OLB or App
- Select a checking or savings account
- Investment Portal will be listed in the selected Menu
There is a $0.99 minimum fee per trade, with a fee range of 1-2.99% per trade depending on the size of the transaction. You will be shown the amount of the trading fee before you confirm the trade. The complete fee structure is as follows:
Minimum trade amount = $6.00
Maximum single transaction buy/sell order amount = $7,500 There are currently no daily, weekly or monthly buy limits.
| Dollar Amount | Transaction Fee |
|---|---|
| Minimum Transaction Fee | $0.99 |
| $6.00 - $1,000 | 2.99% |
| $1,000.01 - $5,000 | 1.75% |
| $5,000.01 - $7,500 | 1.49% |
Simply enroll in a crypto account and accept the terms and conditions. Once your account is set up you can select your coin type, how much you want to purchase or sell, designate which checking or savings account you want debited/credited and confirm. That’s it!
Only members over the age of 18 and in good standing and have not caused Frankenmuth Credit Union a loss can buy/sell/hold cryptocurrency. At this time, residents of the states of Texas, New York and Idaho are not permitted to buy/sell/hold cryptocurrency through FCU. Trust accounts may not buy/sell/hold cryptocurrency through FCU. Commercial accounts may not be used.
- Enroll and accept the Terms & Conditions
- Click on the “Invest” button (Note: This button will say “Trade” after your first transaction)
- Select the asset name to view all supported assets
- Select your desired asset
- Enter in how much cryptocurrency you want to purchase (you may enter this in USD or in the cryptocurrency value)
- Designate which Direct Deposit Account you would like to make the purchase from (e.g., checking)
- Click “Preview transaction”
- You will be taken to a confirmation screen that displays the transaction fee and the net amount of digital assets you will be receiving
- Click “Confirm purchase”
- Congrats! Your order is complete; your account will be debited and your digital asset account will be credited with the corresponding amount of the purchase in near real-time
You can place a Buy or Sell order at any time, though there may be occasions when scheduled maintenance occurs. During these maintenance windows, crypto Buy and Sell orders will be temporarily unavailable. A message will appear at the top of the order screen notifying you of the time and date of these maintenance windows.
Yes. You can purchase digital assets from your FCU checking or savings account.
Current market prices for the available cryptocurrencies are shown on both the main Crypto Home screen and your Portfolio screen. Prices are updated every 5 seconds.
Your cryptocurrency balance can be viewed on your mobile banking App dashboard by clicking “More” and then by clicking the (Self-Directed) Investment Portal button at the top. In Online Banking (OLB), click the (Self-Directed) Investment Portal tab on your Online Banking dashboard.
The value of your cryptocurrency can be determined by checking your balances within your Online Banking (OLB) or Mobile App. The value of cryptocurrency can be highly volatile, so it is important to monitor it regularly.
- Click on the “Invest” button (Note: This button will say “Trade” after your first transaction)
- Click on the “Sell” tab
- Select the asset name to view all supported assets
- Note: you may only sell assets that you are currently holding
- Select your desired asset
- Enter in how much cryptocurrency you want to sell (you may enter this in USD or in the cryptocurrency value)
- Designate which Direct Deposit Account you would like the proceeds of the sale to be sent to (e.g., checking)
- Click “Preview transaction”
- You will be taken to a confirmation screen that displays the transaction fee and the net amount of USD you will be receiving
- Click “Confirm sale”
- Congrats! Your order is complete; your account will be credited and your digital asset account will be debited with the corresponding amount of the purchase in near real-time.
No. Because trades are near instantaneous and are irreversible, trades cannot be refunded. For more information please review the Terms and Conditions.
Generally, if purchasing cryptocurrency through an exchange or financial institution, you cannot use the cryptocurrency to transact. Most only allow buying, selling, and holding crypto.
Currently, only market orders are available for trading. Other order types may be made available in the future.
Frankenmuth Credit Union Members can have only one InvestiFi —crypto/self-directed investment— account per primary account holder’s Social Security number (SSN). You can manage your investments seamlessly through the FCU Consumer App and Online Banking, providing a convenient and flexible investment experience.
Your crypto holdings are taxable when you sell them – just like any other investment asset. Monthly statements with all the information necessary to manage your taxes are located within the (Self-Directed) Investment Portal > Menu > Documents.
We currently do not support digital asset deposits. This feature may be available at a future date. Currently, through our platform, you are only able to buy, sell and hold/manage digital assets.
No. You can only place orders for digital assets through your Frankenmuth Credit Union Consumer Online Banking (OLB) or mobile banking App but you are able to call and have someone walk you through how to make a trade/place an order.
No. The two most important goals for us as a financial institution in offering cryptocurrency is to make it as easy and safe to buy, sell and hold cryptocurrency as possible. In order to meet both of those goals (ease and safety), for a variety of both security and regulatory reasons, you are not able to send cryptocurrency to a wallet outside of Frankenmuth Credit Union or receive cryptocurrency from a wallet outside of Frankenmuth Credit Union.
Currently, we only provide the ability to buy, sell and hold digital assets through Frankenmuth Credit Union, with no ability to pay or transfer outside of Frankenmuth Credit Union.
Losing cryptocurrency held via Frankenmuth Credit Union is very, very unlikely – it is held on your behalf securely by Frankenmuth Credit Union.
Prior to you closing your account you can either liquidate your cryptocurrency holdings or elect to keep your digital assets directly with the Qualified Custodian.
Your cryptocurrency holdings are like any other assets that you hold with Frankenmuth Credit Union and they are treated exactly the same as any other assets if you were to die. Your beneficiary or other designated person with a power of attorney would have access to all of your Frankenmuth Credit Union assets and would liquidate them on whatever basis they felt was warranted.
Your cryptocurrency buy-or-sell-transaction should take only a few moments to process. The transaction details and corresponding cryptocurrency or dollars will be shown in your account very quickly, usually within less than a minute.
- You can place a Buy or Sell order at any time, though there may be occasions when scheduled maintenance occurs. During these maintenance windows, crypto Buy and Sell orders will be temporarily unavailable. A message will appear at the top of the order screen notifying you of the time and date of these maintenance windows.
No. The two most important goals for us as a financial institution in offering cryptocurrency is to make it as easy and safe to buy, sell and hold cryptocurrency as possible. In order to meet both of those goals (ease and safety), for a variety of both security and regulatory reasons, you are not able to send cryptocurrency to a wallet outside of Frankenmuth Credit Union or receive cryptocurrency from a wallet outside of Frankenmuth Credit Union.
Currently we only provide the ability to buy, sell, and hold/manage cryptocurrency through Frankenmuth Credit Union, with no ability to pay or transfer out.
Yes, like any investment product your cryptocurrency may lose (or gain) in value over time. Cryptocurrencies are volatile and unpredictable, meaning their prices can go up and down quickly and without warning.
There are many factors that can affect the value of a cryptocurrency, such as supply and demand, regulation, hacking, competition, innovation, and market sentiment. You should only invest in cryptocurrencies if you are aware of the risks and willing to accept the potential losses.
Cryptocurrency markets are open 24/7/365, and prices change by the second. Depending on how long you took to confirm the trade, the price may have changed slightly based on the latest market prices.
Digital Assets are not insured by the National Credit Union Share Insurance Fund (NCUSIF), the Federal Deposit Insurance Corporation (FDIC) or the Securities Investor Protection Corporation (SIPC).
Your cryptocurrencies will not earn interest like a regular savings account.
Statements are generated by the qualified custodian and will be available for download in the (Self-Directed) Investment Portal. The statements will summarize account activity and are chronicled monthly. Statements will not be emailed directly to users. Statements will be available for 12 months at minimum. If you need to request a statement please contact our Call Center.
When you created your account, we completed what’s called the KYC (Know Your Customer) process of verifying your identity and personal information. If you’ve done this and agreed to our terms and conditions, you are all set! You don’t have to do things like upload your ID, take a picture of yourself, or do other things that other platforms make you do. We already know who you are and trust you!
If you no longer want the cryptocurrency platform to appear inside your Online Banking (OLB) or mobile App, use the opt-out form below. Note, if you Opt Out of the (Self-Directed) Investment Portal, you will also Opt Out of Securities.
If you would like to engage with the cryptocurrency platform at a later date, please contact our call center or ask Chatbot Carl for instructions on how to enable the cryptocurrency platform for your account. Ask Chatbot Carl: Crypto Opt In
For general questions about the platform or technical crypto questions, please call 877-798-4609 or use the email button below.
Frankenmuth Credit Union is equipped with additional tools to help answer your questions and has resources available to get additional support if answers are not immediately available. That being said, we will not be able to offer financial advice or reverse or modify any transaction already completed.
We use a combination of systems to make sure your crypto that you store with Frankenmuth Credit Union is secure. We independently monitor your crypto balance with our qualified custodian daily to ensure there is agreement on the balance between all parties, and immediately work to resolve any discrepancies if any do appear. Crypto being held with our qualified custodians is not used for any other purposes, and is there for you when you want to sell it.
Cryptocurrency purchased through our digital asset service offering is held with a regulated qualified custodian.
Accessing cryptocurrency through your credit union is an easy, safe and quick way to invest in digital assets like Bitcoin Cash, Bitcoin, Ethereum, Litecoin, XRP-Ripple and Dogecoin. There are a number of advantages to this innovative offering:
It’s Easy! Because you are already a member, there are no additional forms to fill out or funds that are required to be transferred away from your primary accounts. As a result, you are able to begin buying and selling cryptocurrencies almost immediately.
Your Personal Information is Safe & Secure! Your identity and banking information have always been safe with us. When you leverage our digital asset services, that same level of security holds true. By buying or selling digital assets through Frankenmuth Credit Union, your personal information will be securely shared with InvestiFi, our selected qualified custodian and liquidity provider only to the extent necessary to conduct transactions.
It’s Quick! Buying or selling cryptocurrency through your credit union means you have near immediate access to your crypto when you buy it, and your funds when you sell. You have near-instant access to digital asset trading with funds from your checking and savings accounts.
No Surprises or Hidden Fees! When you trade digital assets through your credit union, fees are clearly shown before you place your trade.
AAVE is a decentralized finance (DeFi) protocol built on the Ethereum blockchain, designed to facilitate lending and borrowing of cryptocurrencies without intermediaries. Launched in 2020 by founder Stani Kulechov (initially as ETHLend in 2017), AAVE allows users to deposit assets into liquidity pools to earn interest or borrow against their crypto holdings. It stands out with innovative features like flash loans—uncollateralized loans repaid within a single transaction—making it a pioneer in the DeFi space.The native token of the AAVE protocol is AAVE, which serves multiple purposes within the ecosystem. Holders can stake AAVE in the protocol’s Safety Module to help secure the network and earn rewards, while also using it to pay fees or participate in governance decisions. Initially launched as LEND, the token was swapped to AAVE in a 100:1 migration in 2020. The protocol supports a wide range of assets, enabling users to lend, borrow, and leverage their crypto in a decentralized and permissionless manner. AAVE has emerged as one of the leading DeFi platforms, competing with the likes of Compound and MakerDAO, thanks to its user-friendly interface and robust feature set. Its ability to offer flexible borrowing options and high liquidity has attracted significant attention from both retail and institutional users. Despite challenges like smart contract risks inherent to DeFi, AAVE continues to evolve, integrating with layer-2 solutions and expanding its offerings to maintain its position as a cornerstone of decentralized finance.
Algorand (ALGO) is a decentralized, open-source blockchain platform designed to address the blockchain trilemma by offering scalability, security, and decentralization without compromise. Founded by Turing Award winner Silvio Micali in 2017, Algorand utilizes a unique consensus mechanism known as Pure Proof of Stake (PPoS), which allows for fast and efficient transaction processing while ensuring that even small holders of ALGO tokens can participate in the network’s governance. Algorand’s PPoS consensus mechanism is designed to avoid the energy-intensive processes of traditional Proof of Work systems, making it an environmentally friendly blockchain solution. The platform supports a variety of use cases, including decentralized finance (DeFi), tokenized assets, and enterprise applications. Its high throughput and low transaction costs make it suitable for applications requiring fast settlement times, such as payments and remittances. Algorand has gained significant adoption due to its focus on innovation and performance, with partnerships across industries, including finance, real estate, and supply chain management. The Algorand Foundation, which oversees the development of the ecosystem, also supports a robust developer community through grants and educational initiatives. As the ecosystem continues to grow, Algorand aims to enable a more equitable and accessible global economy by providing the infrastructure for decentralized applications and financial products.
Avalanche (AVAX) is a decentralized platform that aims to provide a scalable and interoperable ecosystem for building custom blockchain networks and decentralized applications (DApps). Launched in September 2020 by Ava Labs, Avalanche distinguishes itself through its unique consensus protocol, Avalanche consensus, which offers high throughput, low latency, and security guarantees. With its focus on performance and flexibility, Avalanche aims to address the scalability limitations of existing blockchain platforms and enable a wide range of use cases, including DeFi, enterprise solutions, and asset tokenization. One of the key features of Avalanche is its subnets architecture, which allows developers to create custom blockchain networks tailored to their specific requirements. These subnets can interoperate seamlessly with the Avalanche mainnet, providing interoperability and composability between different blockchain networks. Avalanche’s architecture also enables efficient cross-chain asset transfers and communication, facilitating decentralized exchange and liquidity provision across multiple networks. Avalanche has quickly gained traction within the blockchain community, attracting developers, investors, and users seeking scalable and interoperable solutions. Its growing ecosystem includes a diverse range of projects and applications, from decentralized finance protocols to decentralized identity solutions and gaming platforms. As Avalanche continues to evolve and expand its capabilities, it is poised to play a significant role in shaping the future of decentralized technology and driving innovation across various industries.
Polkadot (DOT) is a next-generation blockchain protocol designed to connect multiple specialized blockchains into a unified network. Created by Ethereum co-founder Dr. Gavin Wood and launched in 2020 after a successful ICO in 2017, Polkadot aims to solve blockchain interoperability challenges. Its innovative architecture consists of a main relay chain that coordinates consensus and security across the network, while parallel chains called parachains handle specific use cases and applications. This design enables cross-chain transfers of any data or asset type, not just tokens, creating an interconnected internet of blockchains. The native token of the Polkadot ecosystem is DOT, which serves multiple critical functions within the network. DOT is used for governance, giving holders voting rights on protocol upgrades and network changes through an on-chain governance mechanism. It’s also essential for staking in Polkadot’s nominated proof-of-stake (NPoS) consensus mechanism, where validators and nominators stake DOT to secure the network and receive rewards. Additionally, DOT serves as a bonding mechanism during parachain slot auctions, where projects lock up DOT to secure a connection to the relay chain for their specialized blockchain. Polkadot has positioned itself as a key player in the blockchain interoperability space, competing with projects like Cosmos and Avalanche. Its unique approach to scaling through parallel processing of transactions across multiple parachains has attracted significant developer interest and institutional investment. With its substrate development framework making it easier to build custom blockchains, Polkadot has fostered a growing ecosystem of projects spanning DeFi, NFTs, gaming, and enterprise applications. As blockchain adoption increases, Polkadot’s vision of a heterogeneous multi-chain framework continues to gain traction as a potential foundation for Web3 infrastructure.
Filecoin (FIL) is a decentralized storage network designed to allow users to store, retrieve, and share data securely on a global scale. Launched in 2020 by Protocol Labs, founded by Juan Benet, Filecoin builds on the InterPlanetary File System (IPFS) to create a marketplace where individuals and organizations can rent out unused storage space or purchase storage from providers. It aims to disrupt traditional centralized cloud storage services by offering a censorship-resistant, cost-effective alternative powered by blockchain technology. The native cryptocurrency of the Filecoin network is FIL, which serves as the economic backbone of the ecosystem. Users pay storage providers in FIL to store or distribute their data, while providers stake FIL as collateral to participate in the network and earn rewards for fulfilling storage agreements. Filecoin uses a unique Proof of Replication (PoRep) and Proof of Spacetime (PoSt) consensus mechanism to ensure data is reliably stored and maintained over time, incentivizing a robust and trustworthy storage infrastructure. Filecoin has positioned itself as a key player in the decentralized web (Web3) movement, competing with centralized giants like Amazon S3 and Google Cloud while complementing other blockchain ecosystems. Its ability to offer verifiable, scalable, and distributed storage has attracted developers, enterprises, and projects focused on data preservation, NFTs, and dApps. Though it faces challenges like network complexity and adoption hurdles, Filecoin continues to grow, enhancing its protocol to support a decentralized, resilient internet.
Hedera Hashgraph (HBAR) is a decentralized public network launched in 2019 by Dr. Leemon Baird and Mance Harmon, designed to provide fast, secure, and fair transactions using an alternative to traditional blockchain technology called the Hashgraph consensus algorithm. Unlike blockchains that rely on mining or staking for validation, Hashgraph uses a “gossip about gossip” protocol combined with virtual voting to achieve high throughput and low latency. The native cryptocurrency, HBAR, serves both as a medium of exchange on the network and as a means to pay for transaction fees, while also providing network security through staking. One of Hedera’s defining features is its governance model, which is managed by the Hedera Governing Council—a group of up to 39 global organizations from various industries, including Google, IBM, and LG. This model is intended to ensure decentralization while maintaining stability and trust in the network’s development. HBAR plays a central role in Hedera’s ecosystem by powering decentralized applications (dApps), micropayments, supply chain tracking, token issuance, and identity verification. Its combination of high transaction speed (thousands per second), low fees, and energy efficiency has positioned Hedera as a strong contender for enterprise and Web3 use cases. Beyond payments and dApps, Hedera has expanded its capabilities to include the Hedera Token Service (HTS) for issuing and managing digital assets, the Hedera Consensus Service (HCS) for verifiable event logging, and integrations with decentralized finance (DeFi) platforms. Its low carbon footprint has also made it appealing to projects focused on sustainability, including tokenized carbon credits. While some critics point to its permissioned governance model as a trade-off compared to fully permissionless blockchains, Hedera continues to grow its adoption and remains among the top digital assets by market capitalization, demonstrating the potential of alternative distributed ledger technologies.
Cryptocurrency, or “crypto,” is any kind of decentralized digital currency.
Cryptocurrencies are based on cryptography, or advanced mathematical algorithms that are very difficult to crack. Cryptography is probably used a lot in your everyday life already – your phone and computer use it to keep your passwords secret and your data private.
Unlike traditional currencies, like the US Dollar, crypto is not issued or controlled by a central government or bank. Instead, crypto is managed by massive, free-to-join networks of computers. These computers maintain a shared ledger of all transactions on the network called a “blockchain.” The computers earn rewards in exchange for confirming that new transactions are valid. A majority of computers in the network need to agree when a new coin is produced or a new transaction is completed. Thus, the more computers that join the network, the more secure it is.
Most cryptocurrencies are finite in quantity, which is why some people view them as a hedge against inflation.
Cryptocurrency transactions are irreversible and permanent, recorded on a public blockchain.
Because cryptocurrency is transacted on a public ledger (or the blockchain) and the network of computers to create new crypto is free to join, anyone can easily participate in cryptocurrency. As long as someone has access to the internet they can get involved with crypto, regardless of location, government, or credit score. This makes the ecosystem more fair, equitable, transparent, and global.
Many advocates see the most popular cryptocurrencies like Bitcoin and Ethereum as the future and an alternative to traditional fiat currency like the US Dollar.
A blockchain is a public ledger of transactions that is maintained and verified by a decentralized, peer-to-peer network of computers. The computers work together to confirm that new transactions are valid through different types of “consensus mechanisms” (ways of coming to agreement that a transaction is valid) that vary based on the particular blockchain. Each computer in a blockchain network maintains its own copy of the shared record, making it essentially impossible for a single computer to alter any past transactions or for malicious actors to overwhelm the network. Truly decentralized blockchains do not rely on centralized authorities or intermediaries to transact globally, securely, verifiably and quickly, making technology like cryptocurrency possible.
Once a new coin is generated, it can be exchanged in the online community just like cash. The blockchain is validated by the community to record every transaction ever made with the currency. By sharing that information openly, people can agree on what amount of currency was sent or received.
Data on the blockchain is stored in one long public ledger. The details of each transaction are added to the newest block. When the block reaches a designated amount of data, it is complete. It is then given a unique code, called a hash. This is part of what makes cryptocurrency and blockchain so secure. As every transaction relies on an algorithm that relies on past transactions, the system just gets even more secure and difficult to break as time goes on.
A digital asset is anything that is stored digitally, is uniquely identifiable and can be used to store value. Cryptocurrency is one form of digital asset, but there are others as well.
They were originally intended to be used as a store of value, unit of account, or medium of payment between people for products and services purchased. As cryptocurrencies have evolved and new cryptocurrencies have been created the purposes/use cases have evolved as well, and different cryptocurrencies have different use cases/purposes. Some cryptocurrencies (such as Ethereum, Cardano, and Solana) even serve as innovation platforms which others can build new applications on.
Most cryptocurrency relies on innovations in computer science, such as digital signatures and cryptographic hashing, and combines them in a unique manner that is reinforced by economic incentives. Digital signatures provide strong control of assets, while cryptographic hashing and the economic incentives of mining or staking assure that no one entity controls the network and that transactions between users are valid.
The coins available to purchase are Bitcoin Cash, Bitcoin, Ethereum, Litecoin, XRP-Ripple and Dogecoin and are visible to you in the consumer Online Banking (OLB) and mobile banking App. Frankenmuth Credit Union decides which coins to offer and there will be communication when there are changes to the coins that are offered.
(BTC) Bitcoin is the first and most well-known cryptocurrency. It was created in 2009 by an anonymous person or group using the pseudonym Satoshi Nakamoto. Bitcoin is unique in that it has a limited supply of 21 million units, which are released gradually through a process called mining. Bitcoin also has a high level of security due to its use of cryptography and decentralized network.
By design, there is a limited supply of Bitcoin available, making many investors equate it to “digital gold” and a long-term investment and hedge against inflation. One drawback of Bitcoin is that it is harder to use as a regular form of payment like some other cryptocurrencies because it takes a relatively long time – around 10 minutes – for each transaction to be verified, and the more Bitcoin transactions going on at once around the world, the longer it takes. This is why Bitcoin may be better suited for large transactions and investing.
Some technology companies have been developing ways to speed up this process. Want to learn more about how Bitcoin works? Check out our advanced topic of Proof-of-Work.
The smallest amount of Bitcoin you can have is 1 Satoshi, which is equal to 0.00000001 Bitcoin. You might consider investing in Bitcoin if you want to invest in the most established coin on the market.
Yes. However, compared to other industrial consumers of energy, digital asset mining is notably sustainable, and transparently so. According to the Bitcoin Mining Council’s latest Q1 survey of miners, which consists of a bottom-up analysis of 50% of current hash-rate, Bitcoin miners surveyed use 64.6% sustainable energy (defined as wind, solar, hydro, or nuclear). An increasing number of mining companies now use renewable sources, such as geothermal energy or solar power, to power their operations. Sustainable bitcoin mining is growing: Most operations in North America are at least offsetting some carbon emissions or actively trying to use more clean energy.
Bitcoin was the first cryptocurrency to be created and is still the largest and most widely known cryptocurrency. It operates on a decentralized, peer-to-peer network and uses a blockchain to maintain a secure and transparent ledger of transactions.
Cryptocurrency is a general term for digital or virtual currencies that use cryptography for security and are not controlled by any central authority. There are many other cryptocurrencies that have different features, such as anonymity, smart contracts, or low fees, but they are usually less established, less liquid, and more volatile than Bitcoin.
Two main differences between Bitcoin and other cryptocurrencies:
Purpose: While Bitcoin was created as a decentralized digital currency, other cryptocurrencies have been developed for different purposes, such as smart contract platforms (e.g. Ethereum), privacy-focused transactions (e.g. Monero), or faster transaction times (e.g. Litecoin).
Technology: Different cryptocurrencies use different underlying technologies to achieve their goals. For example, Ethereum uses a different consensus mechanism than Bitcoin and has its own programming language to allow for the creation of decentralized applications (dapps).
As long as the cryptocurrency remains in your financial institution account, it cannot be used by anyone other than you. Bitcoin and other cryptocurrencies can be used for illegal purposes, just like any other form of currency or asset. However, it is important to note that the vast majority of cryptocurrency transactions are legitimate and legal. As a cryptocurrency user, it is important to use caution and due diligence when transacting with others outside of your financial institution and to report any suspicious activity to the appropriate authorities..
Cryptocurrency is unique in that unlike other assets like stocks or commodities, there is no underlying asset driving its value. Instead, its value is derived from the fact that a community of people trust and agree upon its value together.
Like how the US Dollar has value because everyone agrees it has value and treats it as such, many crypto investors and visionaries see popular cryptocurrencies taking a similar position and becoming widely accepted to have value. People having faith in its value gives it inherent value, which will only grow with continued adoption.
The various real-world applications of blockchain and cryptocurrency technology further drive its value. For instance, the Ethereum network powers smart contracts, NFTs, and a variety of other decentralized applications.
Cryptocurrency is also said to have value because of how it could act as a hedge against inflation. As only 21 million Bitcoin can ever be produced, for instance, it has defined scarcity and value.
(ETH) Ethereum is a decentralized blockchain platform that was created in 2015 by a young programmer named Vitalik Buterin. Like Bitcoin, Ethereum is a cryptocurrency, but it is also a platform for building decentralized applications (dApps) using smart contracts. Smart contracts are self-executing programs that run on the Ethereum blockchain and automatically enforce the terms of an agreement between parties. One of the key differences between Ethereum and Bitcoin is that Ethereum allows developers to build decentralized applications on top of its blockchain, while Bitcoin is primarily used as a store of value and a means of exchange.
(DOGE) is a cryptocurrency that began as a lighthearted parody but has grown into a widely recognized digital asset. Created in 2013 by software engineers Billy Markus and Jackson Palmer, it was inspired by the popular “Doge” Internet meme featuring a Shiba Inu dog. Initially intended to be a fun and friendly alternative to Bitcoin, Dogecoin has developed a strong community that uses it for tipping online content creators, fundraising, and other charitable activities.
Technically, Dogecoin is based on the Litecoin codebase and utilizes the Scrypt algorithm, which allows for faster transaction times and lower fees compared to Bitcoin. Unlike Bitcoin, Dogecoin does not have a capped supply, meaning new coins are continually mined. This inflationary model is designed to encourage the currency’s use in transactions rather than hoarding as a store of value.
Dogecoin gained significant attention in 2021 due to social media buzz and endorsements from high-profile figures. Its surge in popularity highlighted the influence of Internet culture on financial markets and sparked discussions about the role of meme-based assets in the cryptocurrency space. Despite its humorous origins, Dogecoin has become a notable player in the digital currency market, demonstrating the power of community engagement in driving adoption.
(XRP) Ripple is a digital payment network and cryptocurrency platform that aims to revolutionize cross-border transactions and remittances. At its core is XRP, the native cryptocurrency of the Ripple network, which serves as a bridge currency for facilitating fast and low-cost international money transfers. One of Ripple’s key benefits is its lightning-fast transaction speed. While traditional bank transfers can take days to settle, Ripple transactions are typically confirmed within 4-5 seconds. This rapid settlement time makes it an attractive option for financial institutions and businesses that require quick cross-border payments. Ripple also has low transaction fees. The cost to complete a transaction on the Ripple network is just 0.00001 XRP, which is a fraction of a penny at current rates. This makes it highly cost-effective for processing large volumes of transactions, especially when compared to traditional banking systems. Ripple’s versatility is also noteworthy. The network can process transactions not only in XRP but also in other fiat currencies and cryptocurrencies. This flexibility allows for seamless currency exchanges and enhances its utility in the global financial ecosystem. Ripple has gained traction among large financial institutions. Major banks and payment providers have adopted Ripple’s technology, demonstrating its potential for widespread institutional adoption. In December 2020, the SEC sued Ripple Labs, claiming XRP should be classified as a security. The case focused on whether XRP sales on exchanges violated securities laws. In July of 2023, a judge ruled in Ripple’s favor, stating that these sales were not investment contract offers, thus not breaching securities laws. This was seen as a major win for Ripple and the cryptocurrency sector, influencing how digital assets are regulated and classified.
(LTC) Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee in October 2011 as a fork of the Bitcoin Core client. Designed to complement Bitcoin rather than compete with it, Litecoin aims to offer faster transaction confirmation times and improved scalability. It achieves this through its use of the Scrypt hashing algorithm, which allows for more efficient mining and quicker block generation times compared to Bitcoin’s SHA-256 algorithm. With its focus on speed and efficiency, Litecoin has established itself as one of the oldest and most widely adopted cryptocurrencies in the market.
One of Litecoin’s key features is its commitment to maintaining a high level of decentralization and security. Like Bitcoin, Litecoin operates on a decentralized network of nodes, ensuring censorship-resistant transactions and network integrity. Additionally, Litecoin has implemented various improvements over the years, including Segregated Witness (SegWit) and the Lightning Network, to enhance its scalability and transaction throughput. These upgrades have further solidified Litecoin’s position as a reliable and efficient digital currency.
Litecoin has garnered a strong community of supporters and users who value its fast transaction speeds, low fees, and robust security features. It has also found utility as a means of transferring value and a store of wealth, serving as a viable alternative to traditional fiat currencies. As the cryptocurrency landscape continues to evolve, Litecoin remains a prominent player, offering a stable and reliable option for individuals and businesses seeking to participate in the digital economy.
(BCH) Bitcoin Cash emerged as a fork of Bitcoin in August 2017, aiming to address scalability issues and improve transaction speed and cost-effectiveness. Advocates of Bitcoin Cash believed that increasing the block size limit would enable more transactions to be processed on the blockchain, thereby enhancing its utility as a peer-to-peer electronic cash system. Since its inception, Bitcoin Cash has attracted a dedicated community of supporters who champion its vision of a scalable, low-cost digital currency.
One of the key features of Bitcoin Cash is its commitment to on-chain scaling, which prioritizes larger block sizes to accommodate a higher volume of transactions. This approach diverges from Bitcoins Lightning Network solution, which seeks to facilitate off-chain transactions for scalability. Proponents of Bitcoin Cash argue that on-chain scaling preserves the decentralized nature of the network and ensures that transactions remain accessible to all participants without relying on third-party solutions.
Despite its vision and technical innovations, Bitcoin Cash has faced challenges and controversies within the broader cryptocurrency community. Differences in opinion regarding the direction of the project have led to contentious debates and splits within the community. However, Bitcoin Cash continues to evolve, with developers working on improvements to enhance its scalability, security, and usability. As the cryptocurrency landscape evolves, Bitcoin Cash remains a prominent player, offering an alternative vision for the future of digital cash.
Chainlink (LINK) is a decentralized oracle network that connects smart contracts with real-world data, enabling blockchain applications to securely interact with external sources of information. Launched in 2017 by Sergey Nazarov and Steve Ellis, Chainlink addresses the oracle problem, which refers to the challenge of securely and reliably obtaining data from off-chain sources and integrating it into smart contracts. By providing a decentralized infrastructure for data feeds and APIs, Chainlink ensures the integrity and reliability of data inputs, enhancing the functionality and trustworthiness of smart contract applications. One of Chainlink’s key features is its decentralized network of oracle nodes, which retrieve and verify data from various sources, including APIs, web services, and IoT devices. These nodes use cryptographic techniques and economic incentives to ensure the accuracy and reliability of data feeds, mitigating the risk of manipulation or tampering. Chainlink also offers a wide range of data aggregation and aggregation services, enabling developers to access a diverse array of data points and customize their smart contract applications. Chainlink has emerged as a critical infrastructure component for decentralized finance (DeFi), gaming, insurance, and supply chain applications, among others. Its robust and secure oracle solutions have garnered widespread adoption and integration within the blockchain ecosystem, with numerous projects leveraging Chainlink’s services to enhance the functionality and reliability of their smart contracts. As the demand for trusted data and interoperability grows, Chainlink is poised to play a pivotal role in bridging the gap between blockchain networks and the external world.
NEAR Protocol (NEAR) is a layer-1 blockchain platform designed to enable the creation and deployment of decentralized applications (dApps) with a focus on usability and scalability. Launched in 2020 by founders Alex Skidanov and Illia Polosukhin, NEAR aims to bridge the gap between blockchain technology and mainstream adoption by offering a developer-friendly and user-centric environment. It employs a unique sharding mechanism called Nightshade, paired with a Proof of Stake (PoS) consensus, to achieve high throughput and low transaction costs. The native cryptocurrency of the NEAR ecosystem is NEAR, which plays a central role in powering the network. Users can stake NEAR tokens to participate in securing the blockchain and earn rewards, while also using them to pay for transaction fees and interact with dApps. NEAR’s architecture supports a wide range of applications, from decentralized finance (DeFi) platforms to gaming and social projects, bolstered by its ability to process transactions quickly and efficiently, making it appealing to both developers and end-users. NEAR has gained traction in the blockchain community for its emphasis on simplicity and accessibility, positioning itself as a viable alternative to platforms like Ethereum and Solana. Features like human-readable account names (instead of complex addresses) and a robust developer toolkit have fueled its growth. While it faces competition in the crowded layer-1 space, NEAR continues to innovate, expanding its ecosystem and partnerships to deliver a scalable, low-cost, and inclusive blockchain solution.
Shiba Inu (SHIB) is a decentralized cryptocurrency created in August 2020 by an anonymous founder known as “Ryoshi” as a light-hearted alternative to Dogecoin (DOGE). Initially dubbed the “Dogecoin killer,” SHIB was launched as an Ethereum-based ERC-20 token with a massive initial supply of one quadrillion tokens. The project gained significant attention in 2021 when Ethereum co-founder Vitalik Buterin, who had been gifted 50% of the SHIB supply, donated a substantial portion to India’s COVID-19 relief fund and burned the remainder, dramatically reducing the circulating supply and generating global media coverage. The native token of the Shiba Inu ecosystem is SHIB, which functions primarily as a community-driven cryptocurrency with strong meme culture associations. Unlike utility-focused tokens, SHIB initially gained value through community adoption and virality rather than technical innovation. However, the ecosystem has expanded to include additional tokens like LEASH and BONE, as well as ShibaSwap, a decentralized exchange where users can trade, stake (called “bury”), and provide liquidity (called “dig”) with SHIB tokens. The community, known as the “SHIB Army,” has been instrumental in driving adoption and development initiatives within the ecosystem. Despite its origins as a meme token, Shiba Inu has evolved to build more utility around its ecosystem through several developments. These include the launch of Shibarium, a layer-2 scaling solution on Ethereum aimed at reducing transaction costs and increasing speed; SHIB: The Metaverse, a virtual reality platform; and various partnerships enabling SHIB as a payment method. While critics point to its massive supply and question its long-term value proposition compared to cryptocurrencies with more established use cases, SHIB has maintained its position among the top cryptocurrencies by market capitalization, demonstrating the power of community-driven projects in the cryptocurrency space.
Solana (SOL) is a high-performance blockchain platform designed for decentralized applications and cryptocurrency transactions. Launched in 2020 by Anatoly Yakovenko, Solana aims to solve the scalability issues that often plague other blockchain networks. It utilizes a unique consensus mechanism called Proof of History (PoH) in conjunction with Proof of Stake (PoS), which allows the network to process thousands of transactions per second with minimal fees, making it one of the fastest blockchain platforms available. The native cryptocurrency of the Solana network is SOL, which serves multiple functions within the ecosystem. Users can stake SOL to help secure the network and earn rewards, as well as use it to pay for transaction fees and interact with smart contracts. The platform has attracted a wide array of developers and projects, including decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and various other decentralized services, due to its scalability and efficiency. Solana has rapidly grown in prominence within the blockchain space, positioning itself as a competitor to established platforms like Ethereum. Its ability to handle high transaction volumes with low latency has garnered attention from both developers and investors. Despite facing some challenges, such as occasional network outages, Solana continues to develop its technology and expand its ecosystem, aiming to provide a scalable and user-friendly platform for decentralized applications
Stellar Lumens (XLM) is a decentralized platform designed to facilitate cross-border payments and asset transfers quickly and at low cost. Founded by Jed McCaleb and Joyce Kim in 2014, Stellar aims to provide financial inclusion to the unbanked and underbanked populations worldwide by connecting financial institutions, payment systems, and individuals through its open network. Unlike traditional banking systems that rely on correspondent banking, Stellar’s blockchain enables direct peer-to-peer transactions, eliminating intermediaries and reducing transaction fees and settlement times. One of Stellar’s key features is its consensus mechanism, which employs the Stellar Consensus Protocol (SCP) to reach agreement on the validity of transactions among network participants. SCP enables fast and scalable transaction processing while maintaining decentralization and security. Stellar also supports the issuance and trading of digital assets, known as tokens, which can represent various assets, including fiat currencies, commodities, and securities. Stellar has gained recognition for its partnerships with major financial institutions, payment processors, and non-profit organizations to facilitate cross-border payments and remittances. Its user-friendly interface and developer-friendly tools have made it accessible to a wide range of users and developers, fostering innovation and adoption within the Stellar ecosystem. As Stellar continues to expand its network and capabilities, it remains dedicated to its mission of creating an inclusive financial system that empowers individuals and promotes economic opportunity worldwide.
Bitcoin and Ethereum are two of the most popular cryptocurrencies in the world. They both use blockchain technology to record and validate transactions, but they have different purposes and features. Bitcoin was created as a digital currency that can be used as a store of value and a medium of exchange, while Ethereum was designed as a platform for smart contracts and decentralized applications.
Purpose: Bitcoin was designed primarily as a digital currency and a store of value, while Ethereum was created as a platform for decentralized applications (dApps) and smart contracts.
Blockchain: Bitcoin and Ethereum both use blockchain technology, but they have different consensus algorithms. Bitcoin uses a proof-of-work (PoW) algorithm, while Ethereum is in the process of transitioning to a proof-of-stake (PoS) algorithm. This means that the way transactions are validated and added to the blockchain differs between the two.
Transaction speed: Ethereum has a faster block time than Bitcoin, which means that transactions can be processed more quickly. However, Bitcoin is currently more widely adopted and has more transactional capacity than Ethereum.
Supply: Bitcoin has a fixed maximum supply of 21 million coins, while Ethereum currently has no maximum supply limit. However, Ethereum has a plan to limit its supply through a series of upgrades known as Ethereum 2.0.
Programming language: Ethereum is unique in that it allows developers to write and execute smart contracts using its own programming language, Solidity. Bitcoin does not have a native programming language for smart contracts.
Community: While both Bitcoin and Ethereum have large and active communities, they differ in their respective focuses. The Bitcoin community tends to be more focused on financial and economic issues, while the Ethereum community is more focused on building decentralized applications and exploring the potential of blockchain technology.
The value of cryptocurrencies can change rapidly. Much like anything that holds value, supply and demand play a big factor in the market price. There is no central authority that maintains a crypto’s value. As a result, the value can go up and down very quickly. For that reason, buying crypto as an investment can be riskier than others. Some cryptocurrencies (known as stablecoins) can be pegged to the USD and be fully collateralized and thus don’t fluctuate as much as other cryptocurrencies. Not all stablecoins are fully collateralized and thus carry great risk than holding the equivalent amount in USD.
A cryptocurrency wallet is a digital wallet that is used to store, send, and receive cryptocurrency. It consists of a public key and a private key, which are used to sign and verify transactions. A cold wallet is a type of cryptocurrency wallet that is not connected to the internet. This makes it less vulnerable to hacking or other security breaches, but it also means that it is less convenient to use than a hot wallet. A hot wallet is a type of cryptocurrency wallet that is connected to the internet. It is more vulnerable to hacking or other security breaches, but it is also more convenient to use than a cold wallet.
No, you do not need your own wallet for your cryptocurrency investments with Frankenmuth Credit Union. Your cryptocurrency is held by Frankenmuth Credit Union on your behalf with a qualified custodian – in a similar manner to the cash in your checking and savings accounts.
Cryptocurrency is volatile by nature. Because crypto generates no cash flow, traders rely on changes in sentiment to drive the price. Unlike the U.S. dollar, there’s no central authority that maintains the crypto’s value. As a result, the value can go up and down very quickly. For that reason, buying crypto as an investment can be much riskier than other assets.
Cryptocurrencies themselves cannot be “hacked” in the traditional sense, as they are decentralized digital assets that exist on a secure, distributed ledger called a blockchain. However, the wallets and exchanges used to store and trade cryptocurrencies can be vulnerable to hacking and other cyber attacks.
Bitcoin scams are unfortunately common in the cryptocurrency world, but there are several steps you can take to protect yourself. When your cryptocurrency is held with your trusted financial institution, it is very secure. However, like with any scams involving money, there are additional ways to keep yourself safe:
- Hold your cryptocurrency with your trusted financial institution: Buying, selling, and holding your digital assets with your trusted financial institution will provide you with the greatest protection.
- Beware of phishing scams: Phishing scams are designed to trick you into giving away your private information by posing as a legitimate website or email. Always double-check the URL of any website or email address to make sure it is legitimate.
- Don’t fall for get-rich-quick schemes: If someone promises you huge returns on your Bitcoin investment in a short amount of time, it is likely a scam. Always be skeptical of any investment opportunity that sounds too good to be true.
- Research before investing: Before investing in any cryptocurrency, do your own research and make sure you fully understand the risks involved. Don’t invest more than you can afford to lose. By following these tips, you can help protect yourself from Bitcoin scams and make more informed decisions about your investments.
Cryptocurrency works through a decentralized network of computers that verify and record transactions using cryptography. When a transaction is initiated, it is broadcast to the network and verified by a group of computers known as miners. These miners use complex algorithms to solve mathematical problems and the first miner to solve the problem is rewarded with newly minted cryptocurrency. Once the transaction is verified, it is added to a public ledger called a blockchain, which is maintained by the network and cannot be altered or deleted.
We use a combination of systems to make sure the crypto that you store with Frankenmuth Credit Union is secure.
We independently monitor your crypto balance with our qualified custodian daily to ensure there is agreement on the balance between all parties, and immediately work to resolve any discrepancies if any do appear. Crypto being held with our qualified custodians is not used for any other purposes and is there for you when you want to sell it.
Cryptocurrency may be a good investment for some people, but it is also highly risky and volatile. The value of cryptocurrency can rise and fall rapidly, and there is no guarantee that you will make a profit. It is important to do your own research and consider your personal financial situation before investing in cryptocurrency.
Some of the advantages of cryptocurrencies are:
- They offer fast, cheap, and global transactions without intermediaries or censorship.
- They provide transparency, accountability, and immutability through the blockchain.
- They enable financial inclusion and empowerment for people who lack access to traditional banking services.
- They offer privacy and anonymity for users who value their personal data and freedom.
- They foster innovation and experimentation in the fields of technology, economics, and social change.
Some of the disadvantages of cryptocurrencies are:
- They are volatile, unpredictable and susceptible to market fluctuations and speculation.
- They are vulnerable to hacking, theft, fraud and human error.
- They face legal uncertainty and regulatory challenges in different jurisdictions.
- They require technical knowledge and skills to use safely and effectively.
- They consume significant amounts of energy and resources for mining and network maintenance.
A cryptocurrency exchange is a platform that allows users to buy, sell and trade cryptocurrency with other users. It operates similar to a traditional stock exchange, but with cryptocurrency instead of stocks. However, stock exchanges are heavily regulated, while cryptocurrency exchanges do not have any central regulatory authority.
A decentralized exchange is a type of cryptocurrency exchange that operates on a decentralized network, meaning that it does not rely on a central authority to process transactions. This makes it more secure and less vulnerable to hacking or other security breaches. However, cryptocurrency exchanges do not have any central regulatory authority.
A smart contract is a self-executing contract that is written in code and stored on a blockchain. It is designed to automatically execute the terms of the contract when certain conditions are met without the need for a third party to enforce the contract. Smart contracts use blockchain technology, which allows for secure and transparent execution of the contract without the need for intermediaries like lawyers or banks. Instead, the terms of the contract are encoded into a program and stored on a decentralized blockchain network. Smart contracts have many potential applications from finance and insurance to real estate and supply chain management. They have the potential to revolutionize the way we do business, enabling faster, more secure and more transparent transactions.
Cryptography is the science of secure communication and data protection.
Cryptography plays a critical role in the Bitcoin and crypto networks by ensuring the security and authenticity of transactions and maintaining the integrity of the blockchain. Transactions are secured using public-key cryptography, which uses two mathematically related keys: a public key and a private key. The public key is shared freely and used to encrypt transactions, while the private key is kept secret and used to decrypt them.
Many believers in blockchain and cryptocurrency technology think it may revolutionize many aspects of global commerce. It can make payments, foreign trade, and transfers of value more efficient than traditional systems. Blockchain technology also has the potential for making things like the homebuying process more quick and seamless.
A financial custodian is a type of financial organization that holds assets and securities for investors. Using a crypto custodian significantly reduces the risk of theft or loss of your digital assets. Rather than storing physical items like stocks, bonds, or cash, the custodian securely stores your cryptocurrency.
Effective as of 6/26/2024 at 10:00am Eastern Time, Etana Custody, Inc. (“Etana”) will no longer provide cryptocurrency services to Frankenmuth Credit Union members. As a reminder, Etana is the custodian on the back end, who has been the custodian for the digital assets you have been provided access to via Frankenmuth Credit Union’s online and mobile banking.
Frankenmuth Credit Union will continue to make digital asset trading available through its online and mobile banking via SAFE Trust Company, a public trust company organized under the laws of the State of Wyoming (“SAFE”), which will commence after the transfer from Etana to SAFE is complete, at approximately 10:00pm Eastern Time on 6/26/2024.
Until 10:00am ET on 6/26/2024, Etana will continue to serve as the digital asset custodian through Online Banking and Mobile Banking. You can continue to buy and sell cryptocurrency as you have been until this point. After that, there will be a blackout period for approximately 12 hours while the digital assets are transferred from Etana to SAFE, which is expected to be completed at approximately 10:00pm Eastern Time on 6/26/2024.
After the conversion from Etana to SAFE is complete, your experience will feel very similar, there will just be a different service provider (SAFE) on the back end maintaining custody of your digital assets. The next time you login after the transfer is complete, you will be prompted to review and accept the new SAFE terms of service, which will complete this custodian conversion process.
Effective 6/26/2024, residents in the states of Nevada, South Dakota, North Dakota, Georgia, Louisiana, North Carolina, South Carolina, New York, Ohio and Connecticut are not permitted to buy/sell/hold cryptocurrency through Frankenmuth Credit Union.
What Steps Do You Need to Take?
If you wish to be transferred to SAFE, you do not have to do anything else. Your digital asset account and balance will automatically be transferred to your new SAFE account on 6/26/24 between 10:00am-10:00pm Eastern Time. Upon completion of the transfer of service from Etana to SAFE, the next time you login, you will be prompted with the onboarding steps to accept new documents, such as SAFE´s Custodial Services Agreement, SAFE’s Terms of Service, in addition to the Credit Union/InvestiFi Terms of Use, below for your reference. For context, InvestiFi is the Credit Union’s technology service provider for the digital asset experience.
This process has been designed to be as smooth as possible for all our Credit Union members, but we do apologize in advance for any inconvenience you may experience.
If you do not wish to be transferred to SAFE, you must opt out—by using the button below—of this transfer, no later than 11:59pm Eastern Time on 6/18/24. In this case, you will need to either sell your digital assets, or set up new credentials with Etana no later than 11:59pm Eastern Time on 6/20/24. To opt out, use the button below. PLEASE NOTE, IF YOU OPT OUT OF THE TRANSFER AND YOU REMAIN WITH ETANA, YOU WILL NO LONGER BE ABLE TO ACCESS YOUR DIGITAL ASSETS VIA THE CREDIT UNION’S ONLINE OR MOBILE BANKING.
For self-directed crypto accounts, currently, there is no ability to add a beneficiary for the account through the platform.
Digital assets (cryptocurrencies) are made available and held in a digital wallet maintained by SAFE Trust Company, a Wyoming trust company, not the credit union or InvestiFi or its affiliates. SAFE is a separate entity from, and not an affiliate of Frankenmuth Credit Union or InvestiFi. Digital assets are (1) not federally insured; (2) not obligations of Frankenmuth Credit Union; (3) not guaranteed by Frankenmuth Credit Union; (4) heavily speculative and volatile; (5) may have associated fees; (6) may not allow member recourse; and (7) offered by a third party. Frankenmuth Credit Union may receive compensation from your purchase of digital assets. Digital assets (i.e. cryptocurrencies) held in your digital asset account with SAFE (i.e. Crypto account) are not federally insured by any government entities, including, but not limited to, NCUA. Your digital investing account does not support wallet-to-wallet transferring of your digital assets (i.e. Cryptocurrencies). You should carefully consider whether buying or holding digital assets is suitable for you in light of your financial situation. Digital assets are not obligations of Frankenmuth Credit Union and are not guaranteed by Frankenmuth Credit Union. For additional terms and conditions governing your digital asset account, please refer to our Crypto Terms and Conditions. If you do not want the Cryptocurrency platform to appear in your FCU Consumer Online Banking or App, please use this form to opt-out.