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Austin Jacob • May 28th, 2020

How to Buy Bitcoin with ACH (2020)

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Welcome to Bitpremier, the ultimate cryptocurrency beginner resource.

You’re here because you want to purchase Bitcoin using ACH, a popular United States transfer system.

What’s interesting about ACH is that not all American exchanges use the system. For example, Kraken, a leading exchange around the world that supports the US, will return any funds sent to them using the method.

If you’re dead set on using this method, then let’s jump right into the top exchanges that allow deposits via ACH.

Coinbase Home

Based out of San Francisco, California, Coinbase is considered by many to be the most reputable beginner-friendly exchange. Since 2012, they’ve made it simple for any crypto newbie to buy and sell Bitcoin through their gorgeous user interface. Just make an account, link your preferred payment method, and start purchasing.

Please note that if you are based in the United States, most credit card purchases are disabled. For AML reasons, Coinbase, like most exchanges, requires users to submit a picture of their ID and other information for verification purposes.

When it comes to fees, this will depend on the payment method used. Bank purchases charge 1.49% and on credit and debit purchases expect 3.99%. Purchase limits depend on your accounts verification level, with the highest tier of verification allowing $50,000 to be purchased daily.

Want to see a step by step picture annotated guide on how to purchase Bitcoin on Coinbase? We've got you covered.

Visit Coinbase Read Review

 

Gemini is an exchange based in New York, US that allows for the trading of USD against Bitcoin, Ethereum, Litecoin, Zcash, and more. For fees on Gemini's brokerage service, expect 1.49% fees on buys and sells for orders over $200. Gemini's brokerage service is an intuitive way for beginners to purchase cryptocurrency.

If you feel comfortable using their exchange feature, have your account switched to ActiveTrader mode. On this mode, fees scale base off your trading volume and are between .35% and 0% depending on if you are a maker or taker.

Why use Gemini?

      • You want a secure exchange
      • You enjoy low fees
Visit Gemini
 

eToro USA is an investing platform that allows its users to purchase CFDs for Bitcoin, cryptocurrency, and even stocks.

One of eToro's most notable feature is their support for copy trading. Also known as social trading, this will allow users to view the top trader's exact moves, letting them replicate as little or as much of their strategies as they'd like.

At press time, the service supports 40 US states and several other US territories. 

eToro has a few different fees that you should be aware of. When trading any crypto to crypto, you'll pay a .1% fee. If fiat is converted to the cryptocurrencies below, you'll also pay the spread mentioned below.

Visit eToro USA Read Review

 

What is ACH?

ACH, also known as Automated Clearing House Network, is a popular payment system in the United States of America.

In 2019 ACH moved 24.7 billion electronic payments

Conclusion

Now that you know your options for purchasing Bitcoin with ACH, pick the one that suits your needs best.

Are fees important to you?

Go with Gemini.

Is a simple user experience valuable to you?

Go with Coinbase.

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