You are at: Home » Buy Bitcoin (BTC) » Buy Bitcoin with a Bank Account/Wire Transfer
Author
Last updated on:
Fact Checker

10 Ways to Buy Bitcoin with a Bank Account

By: Alexander Reed | Last updated: 2/22/24

Buying Bitcoin with a bank account is probably the best way to go in order to get the cheapest exchange rate possible. Different exchanges will be best suited for you depending on where you live in the world. This post will cover the leading reputable exchanges that supply bank wire services.

How to Buy Bitcoin with a Bank Account Summary

  1. Visit Kraken and open an account
  2. Go to your dashboard and select – “Add payment method”
  3. Add your bank account
  4. Go to “Buy/sell”
  5. Buy Bitcoin
Kraken
Supported countries:
Worldwide
Overall rating:
eToro
Etoro Logo
Supported countries:
Worldwide*
Overall rating:
Coinmama
Supported countries:
Worldwide
Overall rating:
CEX.IO
CEXIO Logo
Supported countries:
Worldwide
Overall rating:
Coinbase
Supported countries:
100+ Countries*
Overall rating:
arrow-left arrow-right

eToro disclaimer: This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

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. Take 2 mins to learn more


If Kraken doesn’t work for you, or you’d like to review additional options, keep on reading. Here’s what I’ll cover:

  1. Kraken
  2. eToro
  3. Coinmama
  4. CEX.IO
  5. Coinbase
  6. Bitpanda
  7. Luno
  8. Bitstamp
  9. Bitfinex
  10. CoinCorner
  11. Frequently Asked Questions
  12. Conclusion

1. Buy Bitcoin with your bank account through Kraken

Kraken Bitcoin exchange homepage screenshot


Pros: Reputable exchange, low deposit and trading fees

Cons: No brokerage service, historically a lot of reported downtime

Headquartered in San Francisco, Kraken is a veteran exchange known to be one of the largest Bitcoin exchanges in terms of euro volume and liquidity.

It operates across the United States (with the exception of New York and Washington state due to regulation) and Canada, as well as in the European Union, Asia, Africa, and South America.

SWIFT deposits are available for US dollars with a 150 USD minimum through Etana Custody or a 4 USD minimum through Bank Frick. SEPA deposits are available for EU members, with a 1 EUR minimum. 

Deposit fees are mostly free, with the exception of just a handful of options.

Read our full Kraken review here.

2. Buy Bitcoin with your bank account through eToro

eToro investment platform homepage screenshot


Pros: Intuitive interface for beginners, low fees

Cons: Not available worldwide, mainly suited for price speculation

eToro is a pioneering trading company that puts an emphasis on cryptocurrency. It supplies users with an easy-to-use trading platform for investing in cryptocurrencies. eToro is more suited for price speculation (not available for US users) than actually buying the coins, as withdrawing them to your wallet is much more complicated than with other platforms. 

eToro accepts SWIFT transfers worldwide and ACH transfers within the US. eToro also offers a mobile wallet for trading, sending, and receiving funds.

Read our full eToro review here.

Visit eToro Read review

eToro disclaimer: This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

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. Take 2 mins to learn more

3. Buy Bitcoin with your bank account through Coinmama

Coinmama crypto broker homepage screenshot


Pros: Good support, good reputation, smooth platform

Cons: Not supported in New York, Hawaii, or Louisiana

Coinmama is a brokerage company that accepts bank transfers, including SEPA, for purchases, with a minimum amount of 5 USD per transaction, a maximum of 10,000 USD, and a 1,000,000 USD monthly limit.

The company has been around since 2013 and is considered to have a good reputation, fast service, and an easy-to-use and smooth platform

If you use a bank transfer with Coinmama’s service, you can save up to 5% of the processing fee compared to its debit and credit card transactions. Furthermore, using bank transfers lets you enjoy higher spending limits than credit card purchases.

Read our full Coinmama review here.

Visit Coinmama     Read review    

4. Buy Bitcoin with your bank account through CEX.IO

CEX.IO crypto exchange homepage screenshot


Pros: Multiple payment options, good reputation, wide selection of cryptocurrencies

Cons: Relatively high fees on brokerage service (can be avoided by using the trading platform)

CEX.IO was founded in 2013 and is one of the oldest crypto companies around. Today, the company provides two main services – a brokerage service and a trading platform service. The brokerage service is usually more expensive but easier to use. On the other hand, the trading services are cheaper but can be confusing.

The company supplies the option for SEPA transfers within the EU, SWIFT, Faster Payments, domestic wire, and bank transfers for countries outside the EU. All bank account transfer fees are minimal at $2.99.

Read our full CEX.IO review here.

Visit CEX.IO     Read review

5. Buy Bitcoin with your bank account through Coinbase

Coinbase buying cryptocurrency option


Pros: Fast transfers within the US and EU, low fees

Cons: Slow support, not completely available worldwide

Coinbase is one of the pioneering companies in the Bitcoin ecosystem and has been around since late 2012. Coinbase supplies brokerage services to many countries worldwide (meaning they sell you Bitcoin and other cryptos directly and not through a trading platform).

For US customers, Coinbase allows you to connect your bank account via ACH bank transfer. For European customers, Coinbase will also allow you to buy Bitcoin with a SEPA transfer, Faster Payments, or Easy Bank Transfer.

For all countries Coinbase supports (100+ in total), there is a US $10 fee for wire deposits and a €0.15 EUR fee for SEPA deposits..

Read our full Coinbase review here.

Visit Coinbase     Read review    

6. Buy Bitcoin with your bank account through Bitpanda

Bitpanda crypto exchange homepage screenshot


Pros: Multiple payment options, intuitive interface, wide variety of investable assets

Cons: Not available worldwide, fees “hidden” inside the exchange rate

Bitpanda was founded in 2014 and supplies brokerage services for Bitcoin plus other cryptocurrencies to countries within the Eurozone and a handful of other countries. The company accepts SEPA transfers from European countries.

You can deposit nine major fiat currencies via bank transfer: the Euro, US dollar, Swiss franc, British pound, Swedish krona, Hungarian forint, Czech koruna, Polish zloty, and Danish krone. 

At the time of writing, there are zero fees on all deposit methods, including credit cards.

The minimum amount to buy and sell assets is 1 EUR or 1.50 USD.

Read our full Bitpanda review here.

Visit Bitpanda     Read review

7. Buy Bitcoin with your bank account through Luno

Luno crypto exchange homepage screenshot


Pros: Best option for under-served, emerging markets

Cons: Limited country support

Luno (formerly known as BitX) is a great option for emerging markets. The company supports many European countries, as well as Indonesia, Malaysia, Nigeria, South Africa, and Uganda.

For Australia, bank transfers are free for amounts above $50. SEPA transfers are free for accounts verified in Europe. Deposit fees for Uganda and South Africa are free.

Read our full Luno review here.

Visit Luno Read review

8. Buy Bitcoin with your bank account through Bitstamp

Bitstamp crypto exchange homepage screenshot


Pros: Reputable exchange, low deposit and trading fees

Cons: No brokerage service; platform can be confusing for beginners

Probably the oldest exchange on this list is Bitstamp, which was founded in 2011. The exchange has offices worldwide, including Singapore, Luxembourg, Slovenia, and the USA. 

SEPA, ACH, and Faster Payments deposits are free. 

Trading fees on the platform vary depending on your monthly volume; for most users, the fee will be between 0.25% and 0.50%. Bitstamp does not offer brokerage services, so you must know your way around trading platforms to use the site.

Read our full Bitstamp review here.

Visit Bitstamp     Read review

9. Buy Bitcoin with your bank account through Bitfinex

Bitfinex crypto exchange homepage screenshot


Pros: High liquidity, reasonable fees

Cons: Complex interface, history of hacks

Bitfinex, registered in the British Virgin Islands, is one of the world’s oldest Bitcoin exchanges, having been founded in 2012. The company supports bank account transfers worldwide and takes a 0.1% deposit fee for incoming wire transfers with a minimum fee of 60 USD or EUR. 

Bank wires with OpenPayd have a 5 EUR fee per transaction.

The company supplies only a trading platform and no brokerage services. Trading fees depend on volume and start at 0.2%.

Read our full Bitfinex review here.

Visit Bitfinex Read review

10. Buy Bitcoin with your bank account through CoinCorner

CoinCorner Bitcoin exchange homepage screenshot


Pros: Smooth platform, good reputation, established company

Cons: Supports limited countries

CoinCorner is a Bitcoin exchange established in mid-2014. The company is based in the Isle of Man and currently supports 30 countries. 

EUR deposits are made with SEPA and are also free, with a 5 EUR minimum and no maximum.

Visit CoinCorner     Review coming soon 


11. Frequently Asked Questions

Why should I use a bank account instead of a credit card?

People who want to buy large amounts of Bitcoin or don’t have any access to credit or debit cards will probably look to buy Bitcoin with their bank account.

Since exchanges have substantially less risk when people purchase Bitcoin with their bank account, the fees for such a process are significantly lower. Unlike credit cards, bank transfers are considered irreversible and reduce the risk of chargeback.

So, if you buy $1,000 from Coinbase via a bank transfer, you’d pay $14.9 in fees, while if you bought the same amount with a credit card, you’d pay $39.9 in fees. As you can see, you can save 50% and more when using a wire transfer.

Also, buying limits are much higher when using a bank transfer to fund your account than when using a credit or debit card.

On the downside, bank transfers are usually less convenient to execute and take longer to process since the transfer needs to clear several banks on its way to the exchange.

How do I transfer Bitcoin to my bank account?

You can’t transfer Bitcoin to your bank account. Bitcoin can only be held inside a Bitcoin wallet. If you would like to “cash out” your bitcoins, you’ll need to exchange them back to fiat currency (dollars, euros, etc.) and then withdraw that currency to your bank account.

Do I need a bank account to buy Bitcoin?

No, you don’t have to have a bank account in order to buy Bitcoin. There are a variety of methods to buy Bitcoin without a bank account.

Can you buy Bitcoin at a bank?

No, you can’t. You’ll have to use dedicated Bitcoin exchanges in order to buy Bitcoin.


12. Conclusion – Bank transfers are cheaper but slower

If you’re thinking about buying large amounts of Bitcoin or don’t have any access to credit cards, you should probably use one of the methods above. Keep in mind that some banks may require additional info about the nature of the transaction and may also collect additional fees for the transfer itself.

In my opinion, if the purchase amount isn’t large, you’re better off using your credit card or debit card. It will cost a little more, but the coins will arrive quicker, and there will be much less hassle in the buying process.

If you have any questions about the process or the exchanges, please ask them in the comment section below.

Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including investments in gold and, since early 2013, Bitcoin. While not extensively tech-savvy, I've immersed myself in Bitcoin through dedicated study, persistent questioning, hands-on experience with ecommerce and marketing ventures, and my stint as a journalist. Writing has always been a passion of mine, and presently, I'm focused on crafting informative guides to shed light on the myriad advantages of Bitcoin, aiming to empower others to navigate the dynamic realm of digital currencies.

View all Posts by Alexander Reed

Free Bitcoin Crash Course

Learn everything you need to know about Bitcoin in just 7 days. Daily videos sent straight to your inbox.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
We hate spam as much as you do. You can unsubscribe with one click.
We hate spam as much as you do. You can unsubscribe with one click.

42 comments on “Buy Bitcoin with a Bank Account/Wire Transfer”

Leave a Comment

Your email address will not be published. Required fields are marked *

  1. For any hack related jobs, crypto recovery or data recovery reach out to (zattrecoverypro1 ⓐ Gmail Dot Com) they also help trace accounts that are hacked and track down scammers as well.

  2. There are a lot of untrue recommendations and its hard to tell who is legit. If you have lost money to scam contact (zattrecoverypro1 ⓐ Gmail Dot Com) they will surely help you out. Took me long to find them

      1. Nick Marinoff

        Unfortunately, we are not at liberty to discuss financial agendas for ourselves or others at this time.

  3. If we would rathere not pay wire transfer fees, which of the above allow you to do it by other means? Like Abra just does a debit from bank account, takes a day or so, but they have this new rule that you cant then withdraw it for 60 days…… which is rather inconvenient ! You can convert to BTC immediately, but cant withdraw

Scroll to Top