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How to Buy Bitcoin with a Bank Account in 2024

Open Account 82% of retail CFD accounts lose money.
By Rebecca Campbell - Updated 24 June 2024
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Using a bank account is a popular way to purchase Bitcoin in 2024, thanks to its speed, simplicity, and the fact that most Bitcoin platforms accept it as a payment method.

We’re going to take you through how to buy Bitcoin with a bank account and whether this is the right payment method for you.

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.

1
Min Deposit
$ 100
User Score
4.95
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
$ 100
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
$ 10
Promotion
User Score
4.7
Offers an intuitive and easy-to-navigate platform, making it accessible for both novice and experienced traders
Global audience, providing various deposit options and allowing users to cash out directly to their bank accounts
Cold storage for funds and two-factor authentication to ensure the safety of users’ assets
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Description:
Bitstamp, established in 2011, is a pioneer in the cryptocurrency exchange world, offering a secure and straightforward platform for trading a variety of digital currencies. It’s known for its user-friendly design, robust security measures, and global reach, making it a preferred choice for crypto traders worldwide.
Payment Methods:
Bank Transfer, Debit Card, Credit Card, Cryptocurrencies, Apple Pay, Google Pay, Bank Transfer: SEPA
Full Regulations:
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong

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!

Table of Contents

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.

Frequently Asked Questions

Can I buy Bitcoin with my bank account outside of normal working hours?
Yes. Płatności w ramach Faster Payments can be processed at any time of day, including bank holidays.
Can banks block transfers to Bitcoin platforms?
Crypto is a nascent industry and regulators are still catching up. A few banks have blocked payments to certain crypto platforms that they deem unsafe due to lack of regulation. In most cases, however, payments are not blocked. You can contact your bank to find out which, if any, platforms they block payments to.
Can I also use bank transfers for withdrawals?
Yes. If you change your mind or sell your Bitcoin, you can send your funds back to your bank account through the same quick and simple process. Many platforms charge a withdrawal fee so you will have to check with your platform to find out how much a withdrawal will cost.
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Open Account 82% of retail CFD accounts lose money.