How to Buy Bitcoin with a Bank Account in 2024

How to Buy Bitcoin with a Bank Account

The easiest way to buy Bitcoin with a bank account is to purchase it online from a crypto exchange. Exchanges make it easy to buy and sell Bitcoin and other cryptocurrencies directly from your smartphone, tablet or computer. Check out our recommended platforms below and follow the steps to safely buy Bitcoin with a bank account.

1. Choose a platform

A regulated platform, including our top choices below, is the best and safest place to purchase Bitcoin. You’ll need to provide a few personal details to create an account and then complete the KYC process by providing a photo ID and/or proof of address.

Most Popular

1

Min Deposit

$ 100

User Score

5

CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR

No need to open a crypto exchange account or use a special wallet

Regulated Broker - FCA, ASIC, CySEC (license number 250/14)

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Description:

Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares, Options and Cryptocurrencies. CySEC license number (#250/14)

Payment Methods:

Bank Transfer, Debit Card, PayPal, Credit Card, Visa, Mastercard, American Express, Trustly, Apple Pay, Google Pay, Discover, Bank Transfer: SEPA, Bank Transfer: FPS, skrill

Full Regulations:

ASIC, FCA, FSA, MAS, CySEC #250/14

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2

Min Deposit

$ 10

User Score

4.95

Up to $240 bonus!

Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.

Trade on the world's leading social trading and investing platform

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Description:

eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

Payment Methods:

Bank Transfer, Debit Card, PayPal, Credit Card, Wire Transfer

Full Regulations:

CySEC, FCA

3

Min Deposit

$ 0

Promotion

User Score

4.8

Get insights from millions of investors, creators, and analysts

Build your portfolio of stocks, ETFs, and crypto–all in one place

No minimum deposit

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Description:

Public is an investing platform that allows you to invest stocks, ETFs, crypto, and alternative assets like fine art and collectibles—all in one place.

Payment Methods:

Debit Card, Wire Transfer, Check, Bank Wire

Full Regulations:

Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.

2. Make a deposit using a bank account

You will have to link your bank account with your trading platform by providing any bank details requested, such as the sort code and account number. Now you can make a deposit by entering how much you wish to deposit and selecting online banking as the payment method.

3. Buy Bitcoin

Now that you have funds in your account, find the trading pair for BTC and your deposited currency. You can create a market order to buy Bitcoin immediately, or a limit order to specify a price to buy at in the future. Enter how much you want in either BTC or fiat and hit the “Buy” button!

Where to Buy Bitcoin with a Bank Account?

There are lots of crypto platforms out there and pretty much all of them offer Bitcoin. To find the one that’s right for you, consider factors such as whether you find the platform easy to use and whether it offers the features you want.

Safety and regulatory status are also important aspects when choosing a platform. We’ve shortlisted the top regulated platforms below that will let you buy Bitcoin with a bank account.

Pros & Cons of Buying Bitcoin with a Bank Account

Here are some of the benefits and drawbacks of buying Bitcoin with a bank account to help you decide whether it’s the right payment method for you.

Pros

• Low fees. The fees for bank transfers tend to be lower than those for some other payment methods, or even non-existent.
• Fast. When you use Faster Payments, your funds will typically be available to trade with immediately.
• Simple. Once you have connected your trading platform to your bank account, you will be able to make bank transfers with a couple of clicks.

Cons

• Bank limitations. You will need a bank account with online banking set up. Some banks may not be available for this payment method.

Fees When Buying Bitcoin with a Bank Account

There are typically no fees for making a deposit via bank transfer. There may be some costs associated with purchasing Bitcoin, such as blockchain transaction fees and any spreads, commissions, or trading fees charged by your platform. You will need to consult the small print for your chosen platform to ascertain exactly how much these will be.

Is Buying Bitcoin with a Bank Account Right for Me?

In summary, bank transfers are a quick and easy way to purchase Bitcoin. While this method may not be suitable for some people with limited access to financial services, those with online banking will appreciate the speed and convenience of buying Bitcoin with their bank account.