How to Buy Bitcoin With Bank Account?

/How to Buy Bitcoin With Bank Account?

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How to Buy Bitcoin With Bank Account? 2018-06-26T21:52:19+00:00
How to Buy Bitcoin With Bank Account?

How to buy Bitcoin with bank account

Quick inner navigation:

  1. Exchanges that support buying Bitcoin with a bank account
  2. Pros and cons of buying Bitcoins with bank account
  3. How to check if an exchange is legit or not
  4. Transfer Bitcoin to Bank Account
  5. Other methods of buying bitcoin
  6. How to keep your Bitcoins safe

Bitcoin is a cryptocurrency that exists digitally and therefore cannot be centralized or be controlled by world governments.

As the leading cryptocurrency, Bitcoin value makes it very attractive to investors and this scenario forces exchange and trading sites to continuously offer a range of buying methods.

Furthermore, there is an increasingly a large number of people who would like to buy cryptocurrency, specifically Bitcoin, but lack access to payment methods like credit/debit card.

For such a group, I recommend buying Bitcoin with a bank account.

Where can you buy bitcoins with a bank account?

This really depends on where you live. As such, there are several exchange sites that offer this service around the world.

Step-by-step guide to buying Bitcoin with Bank Account

  • You can buy Bitcoin with your bank account in these simple steps.
  • Login your account/ bitcoin wallet at the site
  • Navigate to BUY> BITCOIN
  • Select payment method as Bank transfer (ACH, SWIFT, SEPA) etc.
  • Click on confirm and proceed to new page
  • Enter amount to pay- complete the details as required
  • Then select BTC and click ‘buy’
  • Confirm: your bitcoins will be sent to your bitcoin wallet

Exchanges that support buying Bitcoin with a Bank Account

CoinbaseCoinbase >>

Coinbase is one of the leading cryptocurrency brokerage sites in the world. You can buy bitcoin with bank account:

  • In the US- through ACH transfer which can take up to 5 days
  • In Europe- buying bitcoin with a bank through SEPA wire transfer that can take up to 2 days.

Apart from bank transfer, you can also use credit/debit card.


  • Fees per transaction- 1.49% flat rate fee on all bank transfers.
  • Ease of Use- easy to use and friendly
  • Privacy- low privacy (Coinbase can track transactions)
  • Handling Speed- its average (between 2-5 days)
  • Reputation- Coinbase is a trusted site around the world
  • Limits- the site offers high limits on bitcoin buy with bank account

Bit PandaBitpanda >>

It is a very popular exchange cryptocurrency exchange site.

BitPanda allows you to buy bitcoins with your bank account and accepts payments made through

  • SEPA
  • Online Bank Transfer


  • Ease of Use- easy to use with a great user interface
  • Privacy- low(you must verify account)
  • Speed- fast transactions that take less than a day
  • Fees- the site charges very low fees on wire transfers
  • Reputation- the site is trusted by its community
  • Limits- you get high buying limits when you buy bitcoin with bank account

 CoinCorner OriginalCoincorner >>

Coincorner is an exchange site located on the Isle of Man. It supports users from the UK and Europe. The site accepts bitcoin buy with bank account.

Payments via transfer are done through SEPA.

Other payment methods include credit/debit card, PayPal


  • Ease of Use-easy to use
  • Privacy- low privacy as you must verify account
  • Speed- operates at average speeds
  • Fees- Coincorner charges slightly high fee of 5% fee on bank transfers
  • Reputation- trusted and reliable site
  • Limits- average limits >>

CEX.IO is a convenient and reputable exchange with a good customer support team. The site offers four types of accounts that are different in terms of fees, trading limitations, and buying methods. It allows you to buy bitcoin with bank transfer.


  • Fees per transaction- 2% flat rate fee on all bank transfers.
  • Ease of Use- easy to use and friendly
  • Privacy- low privacy (all accounts are verified)
  • Handling Speed- its average but varies from country to country
  • Reputation- convenient and trusted site around the world
  • Limits- the site offers high limits on bitcoin buy with a bank account

Other payment methods include: credit/debit card and cryptocurrency

LocalbitcoinsLocalbitcoins >>

Localbitcoins is available worldwide. It allows crypto sellers and buyers to meet for transactions. You can buy bitcoin using bank transfer.


  • Fees per transaction- no fees on all bank transfers.
  • Ease of Use- easy to use and friendly
  • Privacy- varies depending on agreements between seller and buyer
  • Handling Speed- fast
  • Reputation- ranks well among Bitcoin enthusiasts
  • Limits- no limits

Other payment methods: cash deposit, PayPal, MoneyGram, and cash by mail.

247 Exchange 247exchange >>

247exchange is a bitcoin exchange site available all over the world. The site requires no verification if the volume of trade is small.


  • Fees per transaction-.1% fee charged
  • Ease of Use- suitable for bitcoin beginners
  • Privacy- high privacy as no verification needed
  • Handling Speed- between 1-3 days
  • Reputation- reliable
  • Limits- a high of $3,000 per day; $30,000 per month

Other payment methods: credit card, debit cards, and cash

Site is accessible at over 400,000 locations

Bitcoin >>

This is a bitcoin website that is located in Europe and serves bitcoin lovers from around the globe. has built a good reputation among its users. The site is secure and reliable. It only allows payments done with SEPA bank transfer


  • Fees per transaction- .1% fee on all SEPA transactions
  • Ease of Use- very easy
  • Privacy- low privacy
  • Handling Speed- slow; it takes over 4 days to complete transaction
  • Reputation- good
  • Limits- limits vary depending on type of account 

Lake BTCLakeBTC >>

LakeBTC is a great exchange for users who love trading in Bitcoins. It is secure and available in many countries around the world.


  • Fees per transaction-.between 0.15% – 0.2%
  • Ease of Use- good for novice traders
  • Privacy- low
  • Handling Speed- 2-3 days
  • Reputation- good
  • Limits- flexible limits

Other payment methods: PayPal, Neteller, cash, MoneyGram, western union

ExmoExmo >>

Exmo is a cryptocurrency platform that allows buying bitcoin with a bank account. The site has operations in more than 200 countries.


  • Fees per transaction- .0.2%
  • Ease of Use- complicated interface; not appropriate for beginners
  • Privacy- low
  • Handling Speed- 2-5 days
  • Reputation- complains about the support team being unhelpful
  • Limits- for bitcoins it’s between a minimum of 0.001 – 100 BTC

Other payment methods: Debit card, credit card, Neteller, PayPal, cryptocurrency among many others.

Paxful.comPaxful >>

Paxful is a popular bitcoin trading website. The site is available worldwide. It offers to ‘buy bitcoin with bank’.


  • Fees per transaction- .1% fee charged
  • Ease of Use- quite easy to use; takes time to get used to though.
  • Privacy- good privacy.
  • Handling Speed- fast; less than a day when funds available
  • Reputation- popular and reliable
  • Limits- limits daily spend at between $50 and $5,000

Other payment methods: Debit and credit card, cash payments, PayPal, Payoneer, Skrill, and gift cards.

BItlioBitLio >>

BitLio is a unique site that provides a variety of services related to bitcoin. Besides allowing you to buy and sell, BitLio can facilitate payment of bills with BTC. Its services are available in over 40 countries.


  • Fees per transaction- they use a sliding scale fee structure- low as .0% fee charged
  • Ease of Use- very user-friendly interface
  • Privacy- low
  • Handling Speed- between 3-7 days
  • Reputation- popular site with a great support team.
  • Limits- varies depending on location

BitQuickBitQuick >>

BitQuick is a website that allows you to buy and sell Bitcoin in over 50 U.S states. BitQuick has been gaining in reputation due to the great customer support it offers.


  • Fees per transaction- .free (0%)
  • Ease of Use- good for beginners
  • Privacy- average
  • Handling Speed- takes between 1-2 days
  • Reputation- great customer support
  • Limits- limits capped at $9,999 per day

Pros and cons of buying Bitcoins with bank account


  • Many cryptocurrency exchange sites do not want to deal with the risks of chargeback and reversibility associated with methods credit cards and debit cards.
  • The irreversibility of bank transfers makes them attractive to exchange sites that do not have to worry about chargeback risks.
  • The fees charged for transactions done via bank accounts are significantly lower allowing you to save as much as 50% of the fees you’d pay when using other payment methods like a debit card.
  • The other advantage is that using bitcoin bank transfer as your payment method gives you a higher buying limit compared to credit or debit card.


  • It takes much longer to complete transactions when using bank transfers.
  • Some banks do not allow account holders to buy bitcoin with bank transfer.

How to check if an exchange is legit

Before you commit your funds into trading on a particular site, it is always advisable to find out whether that site is legit or not. Here are a few parameters that can help you distinguish between serious, legit sites from cheap scams.

  • Fees: find out about fees charged on transactions. If a site offers free transactions on ALL services, be careful.
  • Check site’s community rating: it is good to find out what the community thinks about the site. Positive reviews indicate reliability.
  • Security: find out the security measures in place and whether the site has ever been hacked. Is the site secured?
  • Limitations: good sites will have some form of limitation in place.
  • Try to find out about the site’s reputation: it is advisable to find out how the site has conducted its business so far and if any pending issues can impact you.

Transfer Bitcoin to Bank Account

If you have had enough trading and you want to liquidate your bitcoins, there is no better exchange to sell bitcoins with convenience than to use Established in 2012, this peer to peer bitcoin exchange brings bitcoin sellers like you to sellers located in your city or country.

Localbitcoins lets you set the selling amounts, minimum and maximum, the payment method and additional details about yourself such as how a potential customer can contact you when you are offline. Customers will pick you and make an offer or accept your terms to buy a specific amount of bitcoins., on the other hand, gets involved by asking you to send the payment to an escrow account. Once the buyer sends money to your preferred bank account, you then alert the exchange to release the bitcoins to the buyers. You can also complete the payment using cash but this is only convenient for small payments.

Other methods of buying bitcoin

There are several other methods you can use to buy bitcoins. These are:

How to keep your Bitcoins safe

After you purchase Bitcoin at aside, it is good to store them in a wallet.

A wallet is a device/software that helps you receive, store or send Bitcoins.

There are several types of wallets: desktop wallets, mobile wallets, hardware wallets and paper wallets.

Bitcoin can be stored in a number of wallets. Find out about each before choosing.

When choosing the best wallet, consider the following:

  • Security– it should have features like encryption for security.
  • Reputation – what does the community of users have to say about the wallet
  • Ratings – expert ratings will help you know more about the wallet’s capabilities
  • Support – check if there is a customer support for the wallet users, and how is the support.

Simple guide how to store bitcoin in a wallet

Are you worried about keeping your Bitcoins safe after buying at an exchange? Well, just follow this simple guide and your coins will be safe from scammers and trolls.

  • Transfer your precious Bitcoins from the site’s account to your offline wallet immediately.
  • Use your private key or passphrase to secure your wallet.
  • Create a backup of the private key and keep it somewhere you consider the safest place.
  • Encrypt the wallet and log off.
  • Your bitcoins are safe.

Final thoughts!

You can buy Bitcoins in a number of ways. To have an easy time when trying to buy Bitcoins at an exchange, first, find out if the site you intend to use supports that payment method. If it does, then the process won’t be time-consuming at all.

I welcome you to aBitGreedy, check our guides section for more on how to buy Bitcoins and other cryptocurrencies.


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