Banks are available in every nook and corner of the world but can you buy bitcoin with a bank account or transfer?
You can purchase almost anything online with the help of your bank. Let’s find out how and other frequently asked questions (FAQs).
A bank transfer is a very secure way of buying Bitcoin directly. It is a more secure method than any other and the best part is that it attracts the lowest fee. Depending upon the location you are in and the cryptocurrency exchange you’re using, you can choose to buy bitcoin with SWIFT ( an international wire transfer) or a bank transfer.
This guide will help you to know what are the best places from where you can buy BTC easily and securely by using the money in your bank. When you buy Bitcoin with bank transfer or SWIFT transfer, usually cryptocurrency exchanges don’t charge fees. However, they charge withdrawal fees when you withdraw your bought Bitcoins and other cryptos from the exchange to your wallet address. If you want to hold bitcoin or other digital assets for a longer period of time, choosing a hardware wallet (such as Ledger Nano) is preferred.
Buying Bitcoin from a cryptocurrency exchange or a person-to-person (P2P) site by using your bank account or wire transfer is the most secure way. There are many reasons why many people prefer this method.
Though many banks have reservations about dealing with cryptos, more and more banking institutions are becoming more open with the idea of cryptos as a financial asset. In fact, some of the institutions such as Wirex have incorporated the exchange right into their app.
Now, let’s check the BTC buying process in different cryptocurrency exchanges with your bank account. The process is more or less similar. That’s why we’ll check the BTC purchasing steps in eToro:
Step #1: First of all, you’ve to create a crypto trading account with eToro.
Step #2: Once it is opened, verify the same.
Step #3: Now, connect the cryptocurrency trading account with your bank account.
Step #4: Go to “Bitcoin” and choose the amount of BTC you would like to purchase.
Step #5: Once the purchase is complete, Bitcoins would be added to your crypto exchange’s portfolio in eToro.
These are the 5 steps involved in the process of buying BTCs by using your bank account in the eToro crypto exchange. The best part here is that in most cryptocurrency exchanges you can buy other cryptos and altcoins too for completing your portfolio. For getting the maximum return on your investment (RoI), you can also start copy trading by using the best and most reliable bots.
Coinmama is one of the most popular and reliable cryptocurrency exchanges. It offers services in all countries. Do you want to buy Bitcoin in Coinmama? If yes, you can do so by using the International Bank Transfers (SWIFT) method for sending money. In case you are in Europe, you can do the same by using SEPA transfer.
This crypto exchange doesn’t charge any fees on the purchase of EUR 1,000 or more worth of Bitcoin. However, you have to pay EUR 20 as fees to Coinmama if you buy Bitcoin worth less than EUR 1,000.
This crypto exchange is one of the most preferred ones in the United States. The US crypto customers can buy Bitcoins through Gemini cryptocurrency exchange by funding their bank accounts with ACH transfers.
This is a very popular trading platform and a reliable cryptocurrency exchange. The crypto coins supported by this platform include Bitcoin (BTC), Ethereum (ETH), Zcash (ZEC), Litecoin (LTC), and others. For making bank deposits quickly, you may use all the popular methods including bank transfer, NETELLER, SEPA, PayPal, and others. The best part is that eToro also provides copy-trading facilities to its customers.
Coinbase is the largest cryptocurrency exchange and broker in the US and also across the world. In the US, you can buy Bitcoin through Coinbase by using a connected bank account through ACH bank transfer. In Europe, users can purchase with a bank account through SEPA transfer.
It generally takes 5-days for the crypto coins to get delivered when you use the ACH method for making purchases. When you use the SEPA method, it takes less than 2-days for the coins to get delivered. On all transactions, Coinbase charges a flat 1.49% fee. For unlocking the instant payment options through bank transfer, Americans may add with a Visa or Mastercard credit card.
In terms of daily average trading volume, Kraken is the largest euro-denominated Bitcoin exchange in the world. All the bank transfer deposit methods from the customers of the United States, Japan, UK, Canada, and European Union are supported. You can make deposits through Interac, SEPA transfer, and international bank transfer. In fact, Kraken provides its customers with multiple payment options including bank account payment, credit cards, debit cards, and others.
You can also check out my other articles on:
Most of these payment options are available worldwide for almost all cryptocurrency exchanges.
Banks don’t sell Bitcoins. However, there are many banks that accept BTCs. Here is a list of such banks that accept Bitcoins:
No, you can’t buy Bitcoin (BTC) with your Chase bank account because it outrightly bans Bitcoin purchase. However, Chase QuickPay’s free service allows users having checking accounts with Chase Bank to make P2P transfers with other accounts, which are a clearXchange (CXC) network’s part.
You can also use this Chase Quickpay service for purchasing bitcoins on Paxful. The process of purchase is very simple and it takes less than an hour for a bitcoin transfer to your Paxful wallet.
The popular banks that explicitly bans or limits bitcoin buying are:
No, you can’t buy Bitcoin (BTC) with your Bank of America bank account.
If you want to increase your return on investment from the cryptocurrency market, consider using reliable automated copy-trading bots such as NapBots.com. NapBots offers complete trading automation solutions through the use of its own tested trading strategies; offering quantitative trading strategies previously reserved for hedge funds to the public.
This cloud-based platform connects to major exchanges such as Binance, Bitmex, Bitfinex, OKEX, Kraken, Bitstamp, and Bitpanda. The setup and installation are easy. So, the non-experts can also use it. The simple and special approach of NapBots helps it provide you with excellent ROI.
NapBots.com is a reliable copy trading platform having a 4.1 review rating out of 5. Instead of using complicated trading tools, this crypto bot scans the market in real-time and automatically trades for you. Exploit their 15 years of experience in quantitative trading at global financial institutions. If you don’t have the time to study charts and graphs, let the experts trade for you, and copy exactly what they do.
You can put your trading on autopilot and keep earning even when you’re sleeping. NapBots is the ultimate crypto trading bot that scans the market in real-time and automatically trades for you. Any novice trader with zero skills can also start trading like a pro and earn money with this unique trading tool, NapBots.com.
NapBots crypto trading software is special because it comes with:
If you still need assistance, you can refer to the following step-by-step purchasing guides for the various payment methods: