Buy Bitcoin With Your Bank Account

• Published: March 21st, 2018
• Updated: September 29th, 2020

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Buy bitcoin with bank account

Buying Bitcoin with your bank account is hard right?


But you’re probably wondering:

How do I know which exchange to use?

Well, for most of you, Coinbase is going to be the easiest and lowest fee exchange for you to use.

That being said, this page will outline all the different options for purchasing Bitcoin with a bank account. If you’d prefer to use a credit or debit card, we also have a guide on that.


.16%-.26%2011Nearly All

Once you’ve chosen your exchange, look at the bottom for buying tutorials that include annotated pictures.


Coinbase (4.5)*

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.

Supported Payment Methods

Visit Coinbase Read Review

BEST FOR Beginners

eToro USA (4.8)*

eToro USA is an investing platform that allows its users to purchase CFDs for Bitcoin, cryptocurrency, and even stocks. eToro is fantastic for beginners due to their interface, social copy trading, and low fees.

Supported Payment Methods

Visit eToro USA Read Review

Bitpanda is an extremely reliable exchange that has several payment options and cryptocurrencies available. For bank transfers, Bitpanda allows SEPA, SOFORT and online bank transfers.

They recently updated their fees to be the lowest in the industry. Bitpanda charges users a 1.49% purchasing fees when a bank account is used, and 1.29% fee when selling to your bank account.

Bitpanda has also eliminated transaction fees to and from the exchange, making it simple to send any amount of cryptocurrency. They eliminate this fee by covering it themselves!

Bitpanda added support for other currencies than the Euro, such as the Swiss Franc, British Pound and US Dollar.

The main downside of Bitpanda is that it is limited in the countries that it can serve. It is only available to users in Europe, including Switzerland, Croatia, and Norway.

They have a wallet built into the exchange where you can keep your coins, but we do not recommend leaving cryptocurrency in an exchange wallet for a long period of time.

These new changes offer customers better usability and improved speed and making Bitpanda one of our highest recommended cryptocurrency exchanges.

Visit Bitpanda is another option and has been around since 2013. Based in London, UK, allows users to purchase Bitcoin with their bank accounts. They support SWIFT and SEPA bank deposits and charge a flat processing fee of $10. appears to have no purchasing fees, but they make money by charging a premium. Basically, they list the price of Bitcoin higher than it currently is and when users make a purchase they profit off the spread. supports 24 US states and pretty much all countries around the world.

Overall, is a great option if you want a quick and easy way to purchase packages of cryptocurrency.



Coinbase Pro, once known as GDAX is an exchange owned by Coinbase, that allows its users to purchase Bitcoin with 0% fees.

This exchange is far more complicated than some of the other exchanges, so we don’t recommend this for new cryptocurrency buyers.

Coinbase Pro allows ACH transfers, bank wires, and SEPA transfers for European countries. Coinbase Pro and Coinbase can instantly deposit and withdrawal from each other.

Visit Coinbase
Read Review


Gemini is another US-based exchange that has pretty low transaction fees between .1%-.75%. This fee scales by trading volume, with the first discount at 10 BTC traded in the past 30 days.

The exchange can be somewhat difficult to use for a beginner but once gotten the hang of, is a great exchange.

Gemini serves all states except Hawaii but plans to support them soon. In addition to the above-mentioned states, they also support, Washington D.C., Canada, Hong Kong, Singapore, Puerto Rico, South Korea, and the U.K.

A convenient feature of the exchange is that you can instantly purchase cryptocurrency with any method, and will not be charged for a few days. This is great for buying dips or bottom.

Gemini is a pretty safe exchange and has no major hacks or security leaks. Funds on the exchange are FDIC insured, meaning in the event of an exchange hack your funds are insured up to an amount.

Gemini’s customer support gets some flak for being slow, and somewhat unhelpful, but in my experience, I have had no issues. Gemini is also owned by the Winklevoss twins who had very early involvement with Facebook.

Visit Gemini


Kraken is a great option too, they are based in the US and allows Bitcoins to be purchased with ACH transfers. They have a somewhat difficult to use user interface so I would not recommend them to a beginner.

Kraken offers XBT (their version of Bitcoin) as well as the following fiat currencies: USD, EUR, CAD, and JPY.

The following deposit methods are used on the exchange:

  • SEPA Transfer
  • USD Bank Transfer Deposit
  • EUR Bank Wire Deposit
  • JPY Bank Deposit
  • Cryptocurrency Deposits

They have a great security system and are extremely trustworthy. As far as fees go, expect a .25% taker fee and a .1% maker fee when using a limit order. Depending on your account’s verification level, users can purchase different amounts of cryptocurrency monthly.

Visit Kraken


Bitstamp is one of the highest volume and oldest cryptocurrency exchanges. They have a lengthy verification process so for those trying to get Bitcoin’s quick might not be the option. They have a large selection of fiat currency pairings and payment options.

For fees, Bitstamp charges .05% on international deposits, and have trading fees ranging between .1%-.25% depending on the amount of cryptocurrency traded. The more you trade, the lowers your fees will be.

Bitstamp FDIC insures accounts that hold a US Dollar balance, protecting funds in the event of a hack. Their customer support is pretty good, with people having few complaints.

Lastly, Bitstamp serves several countries including Europe and the US. For a more complete list, check out their page.

Visit Bitstamp

Swan is a Bitcoin-only savings company, making it easy for anyone to dollar cost average at their pace. Signing up is as easy as filling out answers to sentences asking the amount and frequency of Bitcoin you’d like to purchase. Linking a bank is extremely straightforward and secure.

At Swan, they know that keeping a balance on an exchange is never a great idea, so they also allow you to withdrawal balances automatically once you’ve reached a certain threshold.

Visit Swan

How to Buy Bitcoin on Coinbase

If you decide to buy Bitcoin on Coinbase, you will need to create an account. Click “Create Account” and then confirm your email.

Coinbase Sign Up

After confirming, you will be asked to confirm your phone number. Type in your phone number and Coinbase will text you a code. Enter the sent code to go the next step.

Next, you will need to verify your identity by entering several fields. Coinbase requires this due to the United States regulations.

Coinbase Signup Form

Don’t give up yet, we are almost ready to buy Bitcoin!

Press the settings tab on the navigation bar and click “Link a new account”. On this page, you can select the payment method that you want to link.

In this tutorial, we will be buying Bitcoin with our Bank account as it is the lowest fee option. As stated above, using a bank account will cause your Bitcoin to be delivered in a few days.

This can be annoying, but on the bright side, the price you buy in at is locked after buying.
Choose Payment Method Bank Account

After linking your bank account you are ready to buy Bitcoin!

Go to the navigation bar and click the Buy/Sell tab. From here, you can enter an amount of Bitcoin that you want to buy, or the amount of $ that you want to buy. The opposing field will be filled in automatically.

Click the blue Buy Bitcoin button when you are ready!

Buying Bitcoin with Bank Account

You have successfully purchased Bitcoin! Wait a few days for the Bitcoin to arrive in your account. After your Bitcoin arrives, you may want to move it to a secure hardware wallet.

Learn how to and why you should store Bitcoin on a hardware wallet in our guide.

Frequently Asked Questions

How do I get the best price of Bitcoin?

Buying Bitcoins with a bank account is one of the most popular ways to buy Bitcoin. You get the most out of your money by getting extremely low fees.

By buying Bitcoin with your bank account, you are purchasing Bitcoin with the lowest fees! The next way to reduce the cost of buying Bitcoin is to use the exchange that has the lowest going rate for Bitcoin.

The cost differences between Bitcoin will usually be pretty small but is an option for those looking to get the most bang out of your buck.

Always check what the current price of Bitcoin is before making a purchase on an exchange. Occasionally there is a discrepancy between exchanges.

How do I buy Bitcoin instantly with my bank account?

Due to the outdated processing times involved with bank accounts, purchasing Bitcoin instantly with your bank account is not exactly possible.

Expect to wait around three to five days for Bitcoin or other purchased cryptocurrency to reach your account. If you are concerned with locking in your price, most exchanges do that upon checkout anyway.

Why should I use a bank account to buy Bitcoin?

Buying Bitcoin via a bank transfer or bank wire is the lowest fee option when purchasing from an exchange.

Although you do not receive your funds instantly, the price you purchased at is saved. Unless you want to purchase Bitcoin and quickly move it off the exchange, a bank account is the best method for purchasing Bitcoin.

It also is the highest limit option, allowing users to purchase huge amounts of cryptocurrency on certain exchanges.

Are there disadvantages to buying Bitcoin with a bank account?

Besides the time it takes for Bitcoin to arrive to your wallet, there is no real downside to using your bank account. For those concerned with privacy, a bank account purchase may not be your best option.

Can I sell Bitcoin back to my bank account?

Yep! After you decide to sell your Bitcoin, you can keep the funds on the exchange, or send it back to your bank account! Certain exchanges charge a fee for this process, so keep an eye out for that.

What exchange should I use to purchase Bitcoin for the first time?

We recommend Coinbase, due to its low fees, good purchasing limits, and the extremely simple user interface. It’s CEO is Brian Armstrong, and is very well known in the cryptocurrency community.


Buying bitcoins with a bank account is an extremely popular method due to the high purchasing limits and low transaction fees associated with it. If time is a concern, consider purchasing Bitcoin with a credit or debit card.

Austin Tuwiner
Austin Tuwiner Administrator
Austin is the owner of Bitpremier, and got involved in Bitcoin in 2012. After working as a cryptocurrency journalist and and at several blockchain startups, he decided to start Bitpremier and educate the world on Bitcoin.
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