finder.com
US
AU
NZ
UK
CA
SG
More
US
AU
NZ
UK
CA
SG
More

Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

How to buy cryptocurrency with your bank account

Read our step-by-step guide to buying bitcoin and other digital currencies with a bank transfer.

Tim Falk
Tim Falk

Updated

Fact checked

What's in this guide?

If you want to buy cryptocurrency with US dollars, using a crypto exchange that accepts bank transfers can be one of the cheapest and most convenient solutions. But if you’re new to cryptocurrency, it can be tough knowing where to get started.

Read on for a list of which exchanges accept bank transfers and how you can buy crypto with your bank account.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy cryptocurrency with a bank transfer

Name Product Deposit methods Fiat Currencies Cryptocurrencies
eToro USA Cryptocurrency Trading
eToro USA Cryptocurrency Trading
Wire transfer,Online banking
USD

15
cryptocurrencies
Disclaimer: eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.

Copy the trades of leading cryptocurrency investors on this unique social investment platform. Non-US residents can read our review of eToro's global site here.
Go to site
View details
Crypto.com App
Crypto.com App
Bank transfer (ACH),PayPal,Bank transfer (SEPA),SWIFT,Xfers,Credit or Debit Card
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

64
cryptocurrencies
Get credit card crypto purchase fees waived when signing up for Crypto.com. T&Cs apply.
Buy 55+ cryptocurrencies at true cost, earn up to 8% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Go to site
View details
Coinbase Digital Currency Exchange - US
Coinbase Digital Currency Exchange - US
Bank transfer (ACH),Credit card,Debit card,Bank transfer (SEPA),Wire transfer
USD, EUR, GBP

24
cryptocurrencies
Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
Go to site
View details
Coinmama Cryptocurrency Marketplace
Coinmama Cryptocurrency Marketplace
Credit card,Bank transfer (SEPA),SOFORT,SWIFT,Fedwire
USD, EUR, AUD, CAD, GBP, JPY

10
cryptocurrencies
Founded in 2013, CoinMama lets you buy and sell popular cryptos with a range of payment options and quick delivery.
Go to site
View details
Binance.US Cryptocurrency Exchange
Binance.US Cryptocurrency Exchange
Bank transfer (ACH),Bank transfer,Cryptocurrency,Debit card,Wire transfer
USD

28
cryptocurrencies
Get a US$15 bonus when you trade US$100 or more of any supported crypto. T&Cs apply.
Trade with USD on Binance.US, the American dollar onramp of the world’s largest cryptocurrency exchange. Non-US residents can read our review of Binance's main exchange here.
Go to site
View details
Kraken Cryptocurrency Exchange
Kraken Cryptocurrency Exchange
Electronic Funds Transfer,Wire transfer,Osko,PayID,Ethana Custody
USD, EUR, GBP, JPY, CAD, CHF, AUD

40
cryptocurrencies
Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.

UK residents: In addition to normal crypto trading, Kraken offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Go to site
View details
CEX.IO Cryptocurrency Exchange
CEX.IO Cryptocurrency Exchange
Bank transfer (ACH),Credit card,Bank transfer (SEPA), Faster Payments Service,Skrill
USD, EUR, GBP, RUB

23
cryptocurrencies
Disclaimer: Highly volatile investment product. Your capital is at risk.
Use your USD, EUR or RUB to buy and sell cryptocurrency at competitive exchange rates and with high maximums for verified accounts.
Go to site
View details
Paxful P2P Cryptocurrency Marketplace
Paxful P2P Cryptocurrency Marketplace
Cash,Credit card,Cryptocurrency,PayPal,Western Union
DZD, XCD, ARS, AMD, AWG, AUD, AZN, BSD, BHD, BDT & 140+ more

1
cryptocurrency
Connect with bitcoin buyers and sellers through this peer-to-peer marketplace that accepts cash, credit and more than 300 other payment methods.
Go to site
View details
CoinSwitch Cryptocurrency Exchange
CoinSwitch Cryptocurrency Exchange
Credit card,Cryptocurrency
USD, JPY, RUB, EUR

387
cryptocurrencies
CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Go to site
View details
Paybis Cryptocurrency Exchange
Paybis Cryptocurrency Exchange
AdvCash,Credit card,Debit card,Neteller,Payeer
USD, EUR, GBP, CAD, JPY

9
cryptocurrencies
Buy Bitcoin and other popular cryptocurrencies with credit card or debit card on this digital cryptocurrency exchange.

US residents: Restricted in the following states - NY, CT, NM, WA, HI, AL, VT, FL, AK, NV.
Go to site
View details
loading

Compare up to 4 providers

How to buy cryptocurrency with your bank account

Buying crypto with your bank account is actually quite easy. To show you how to do it, let’s look at an example of how to buy bitcoin (BTC) with US dollars.

Choosing the right exchange

There are a number of platforms to choose from when purchasing crypto with your bank account, so compare your options to see how each exchange performs across a range of key areas:

  • Payment methods. How can you send USD to the exchange: bank transfer, debit card and/or PayPal? Look for an exchange with your preferred method.
  • Fees. How much will it cost you to complete your transaction? Remember to also consider the trading fees the exchange charges.
  • Transaction limits. Are there any minimum or maximum limits on the amount of crypto you can purchase? When you want to transfer the crypto you purchase away from the exchange, what is the minimum withdrawal limit?
  • Processing times. How long will it take for you to complete your crypto purchase from start to finish? For example, bank transfers can take four to five business days on Coinbase, though debit card purchases are almost instant.
  • Supported cryptocurrencies. Which cryptocurrencies can you purchase directly with USD? Some platforms will only provide access to one or two popular digital currencies while others will offer a much wider range.
  • Ease of use. Does the platform have a simple and intuitive user interface that you can navigate without any problems?
  • Signup and verification. What information and documentation will you need to provide to register for an account? How long does the verification process take?
  • Security features. What protective measures are in place to ensure the security of your funds? For example, does the platform support two-factor authentication? Where are your funds stored? Has the exchange ever been hacked?
  • Customer support. How can you contact the customer support team? What contact methods are supported and during what hours is the team available? Is there an online help center where you can easily find solutions to a range of common problems?
  • Reputation. Check out online forums and reviews to gauge what level of community trust the platform has. Would other users recommend it?

Answering these questions should help you narrow down your choices and find a platform that will work for you.

Compare exchanges now

Must read:How to store your crypto

If you want to store your newly acquired crypto coins on the exchange where you bought them, you can. However, this is not recommended for a couple of reasons:

  • You don’t control your private keys, the exchange does.
  • Exchanges are frequently targeted by hackers and there have been numerous incidences of security breaches.

With this in mind, the safest course of action is to move your digital coins into a secure wallet that allows you to retain control of your private keys. From desktop and mobile wallets to online and hardware wallets, there are plenty of options to choose from. Make sure you do your research before picking one that’s right for you.

Find out more about choosing a cryptocurrency wallet.

Is it safe to buy crypto using a bank account?

Buying crypto with a bank account offers a safe and secure way to exchange USD for digital currency, but only if you’re certain you’re dealing with a reputable exchange provider. With this in mind, it’s essential that you thoroughly research the credentials of any platform before transferring any funds.

You’ll need to find out the following:

  • Who are the people behind the platform?
  • Where is it based?
  • How is it regulated and is it properly licensed?
  • How long has it been in business?

Of course, if you plan on buying cryptocurrency from someone through a peer-to-peer platform, you’ll need to be certain you’re dealing with a reputable seller before transferring any funds. This is why it’s a good idea to set up the trade through a marketplace that uses some sort of reputation system and has security measures in place to protect against fraud.

From a broader point of view, you should also be fully aware of the risks associated with buying cryptocurrency before you make a purchase. Cryptocurrencies are complicated and volatile assets, so there’s a risk of losing some or all of the money you spend.

Pros and cons

Pros

  • Buy crypto directly with USD.
  • Relatively simple process.
  • Cheaper than buying with a credit card.
  • Suitable for beginners looking to get their hands on some digital currency.

Cons

  • Bank transfers can take several business days to process.
  • Only a limited selection of altcoins can be purchased with USD — many digital currencies can only be exchanged for other cryptocurrencies.
  • Fiat-to-crypto trades usually attract higher fees than crypto-to-crypto trades.

Next steps

If you want to buy crypto with your bank account, the first thing you need to do is start comparing a range of cryptocurrency exchanges. Compare their features, accepted payment methods, transaction limits, fees and level of community trust to find a platform that’s right for your needs.

Compare exchanges now

FAQs

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Images: Shutterstock

Disclosure: At the time of writing, the author holds ADA, ICX, IOTA and XLM.

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site