13 Best Ways to Buy Bitcoin with Bank Account or Bank transfer

Most of the newcomers in the world of cryptocurrencies find it very difficult to change their fiat money to digital money. Some of the reasons given highly revolve around how to buy bitcoin directly using money in your bank account.

The quickest and easiest way to buy Bitcoin using cash deposits in the United States or Europe is through Automatic Clearing House (ACH) transfers or SEPA payment system respectively. These two payment systems offer minimal fees but transactions can take up to 5 days for your Bitcoins to be reflected in your wallet. Various exchanges such as Coinbase and Binance currently allow for the direct trade of Bitcoin stock using bank transfers or through your bank account.

This article gives the 13 best ways to buy Bitcoins using bank transfers and bank accounts in the US, Europe and the rest of the world. In addition, a complete guide on how to buy BTC on each of these exchanges and countries will be provided.

What to remember before using a Bank account to buy Bitcoins?

VerificationFeesTransaction time
Most of the exchanges require their customers to provide their personal information before trading using a bank account as a procedural measure from banks. They normally require your full names, identification and an email/phone number.
It is key to check the variations between different transaction and processing fees of exchanges. Some exchanges charge over 30% more than their peers in fees. It may seem small in theory but in practice and in case of large transactions the difference is huge.
Buying BTC using banks is still one of the slowest ways to obtain Bitcoin. However, even in the industry some are slower than others. Coinbase transactions can take up to 5 days to be complete as other methods may take less than 3 days.

Why buy Bitcoins using Bank Account?

  1. Large purchases of Bitcoin

    Most people who are looking to purchasing and transacting very large amounts of Bitcoins are not able to use their credit/debit cards. Hence bank accounts/transfers offer an easy and cheaper way to buy BTC.

  2. Security

    Banks offer a security for funds through the intense verification process required before buying or selling Bitcoins on exchanges.

  3. Cheap

    Compared to other forms of directly exchanging cash to Bitcoins, bank transfers and wire transfers is one of the cheapest ways. Coinbase charges 1.5% for every transaction made using ACH /SEPA transfers. Contrastingly, the exchange charges close to 4% for a credit card/debit card purchase.

Best exchanges to buy Bitcoin using Bank Account or bank transfer

The following table shows the best and easiest ways to transform your cash in bank to Bitcoins.

Coinbase Review1.50%HighTrustedBuy
BitPanda Review5.00%HighTrustedBuy
Bittrex Review~3%HighHigh TrustBuy
HitBTC Review3%ModerateTrustedBuy
CEX.IO Review3.50%ModerateTrustedBuy
LocalBitcoins Review0% for buyers, 1% for sellersLowDepends on sellerBuy
GDAX Review1.50%HighTrustedBuy
Kraken Review6%ModerateTrustedBuy
Bitfinex Review0.1% for market makers and 0.2% for market takersLowLow TrustBuy
Gemini Review3%ModerateTrustedBuy

Buying Bitcoins with a bank account in the US

Currently, Coinbase ranks as the most popular cryptocurrency exchange in the US. It has over 10+ million traders who have so far traded over $50 Billion worth of cryptocurrencies in 32 countries around the world. The exchange was started in June 2012 by Brian Armstrong.

Coinbase is the easiest cryptocurrency exchange to use for a newbie and also the experts. As is on other exchanges, Bitcoin too, is the highest traded coin on the platform. The exchange allows its users to transfer funds from your bank account to the platform through the ACH bank transfer system.

Read: Coinbase Review >>

How to buy Bitcoin with Bank Account

  1. Verification process

    Coinbase offers its users a choice between instant verification and the deposit verification.

    Instant verification requires the user to have an online account in one of the accepted banks. If you already have a bank account, Coinbase will need your username and password to the online account and follow through the instructions.

    Once completed, your bank account will be instantly linked and available to use.
    Deposit verification is selected manually from the ‘Other banks’ option. The next step is to fill in your bank’s routing number followed by your bank account number and finally whether you are linking to the checking or savings account.

    Once linked, after around 2-3 business days, click the Linked Accounts tab and follow the instructions to verify your account. Deposit a small amount to the account and you are good to go. Wait for test deposits to be completed. Your account is now verified, you are able to buy bitcoins on Coinbase using your account

  2. Transaction period

    Once you are verified you are now able to by Bitcoin. Send the funds to Coinbase, and exchange them for Bitcoins. The transaction is instant but it takes a around 3-5 working days for the coins to reflect in your account.


  • Security procedures are divergent for most banks hence you may be asked for supplementary information and fill in additional protection questions. This is independent to different banks.
  • Ensure the name on your Coinbase account is the same as that of your registered bank account. This is done specifically for security purposes.


  1. Cheap: Fees are a standard 1.49% for every transaction amount.
  2. Very Liquid: With over 10+ million traders, your Bitcoins will always have a market to Buy/Sell.
  3. Convenient and easy to use for the new beginners in the cryptocurrency arena.


  1. Only available in 32 countries, locking out many investors in other countries from accessing the service.
  2. Takes 3-5 days for coins to reflect. A lot can have happened in that time to your Bitcoin’s price.
  3. The public nature of the Bitcoin blockchain gives Coinbase the ability to track any Bitcoin’s traded on the site. Coinbase tracks the Bitcoins in case of any suspicious activity or illegal activity is noticed.

Buying Bitcoins with a bank account in Europe

Exchanges currently prefer bank payments for Bitcoins through SEPA payment system. We aim at giving a complete follow through on how to buy Bitcoins on GDAX and BitPanda if you are in Europe. Currently, BitPanda only offers its services to EU citizens across 32 countries. GDAX on the other hand, is a subsidiary of Coinbase exchange and serves the US and Europe.

Read: Bitpanda Review >>

How to buy Bitcoins on Bitpanda using bank transfers in Europe

  1. Go to the official BitPanda website. Check for the security padlock sign. BitPanda Sign in
  2. Login to your BitPanda account or sign up. Click the ‘Buy’ tab.
  3. On the next page, choose Bitcoin, select the ‘Euro Wallet’ option and enter the amount you want to buy. Click next step.
    select bitcoin
  4. Finish the trade by confirming the buy.
  5. Wait for the Bitcoins to show in your wallet. It takes about 45 minutes to reflect.

How to buy Bitcoins on GDAX using Bank transfers in Europe

1. Go to the official GDAX exchange page. Create an account if you are a new user, this takes less than 5 minutes.
Gdax website
2. You will be directed to the Coinbase wallet account.
3. Select the buy option and choose the amount of Bitcoins you want to buy.
4. Select the SEPA payment option.
5. Finalize the transaction and wait to receive your Bitcoins. The transaction period is 3 business days.
Read: GDAX Review >>

Buying Bitcoins with a bank account in the rest of the world

The two most popular ways to buy bitcoins using a bank transfer or bank account is on Local Bitcoins and Paxful. These are peer-to-peer platforms that allow users to trade Bitcoins amongst each other. This article focuses on the two ways due to the simplicity to buy.

This section aims at giving a comprehensive guide on how to buy Bitcoins using cash deposits in other countries around the world excluding the US and Europe.

Read: Paxful Review and Localbitcoins Review

How to buy Bitcoins using bank transfers on LocalBitcoins

  1. Go to the official Localbitcoins.com website (Check for the secure green sign on the URL). Click ‘Buy Bitcoins’ tab.
    Localbitcoin website
  2. From the dialogue boxes on the screen, put in the amount of BTC you wish to buy, select your country and the payment option. In this case, choose the bank transfer option that you deem best.
  3. Click ‘Search’.
    click search
  4. Choose the most favorable trader from the results section. Make sure you read, understand and follow the trader’s terms of trade.
    read trader's terms
  5. Finalize trade by clicking ‘Send trade Request’.


  1. Easy to use for beginners.
  2. Quick to find a seller to buy Bitcoins.


  1. Sellers tend to overprice the Bitcoins to compensate for the risk involved.


It is getting easier and cheaper to purchase and trade Bitcoins in the world. The ways highlighted above are the easiest ways to buy Bitcoins in US, Europe and rest of the world. Banks require verification details of the users to be able to transact Bitcoins.

Using bank transfers is one of the cheapest ways to get Bitcoin but the long transaction periods makes the method less favorable to users.