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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.

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Tim Falk

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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 page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.

Where to buy cryptocurrency with a bank transfer

5 of 17 results
Finder Score Fiat currencies Cryptocurrencies Deposit methods Disclaimer
8.6Great
50
1086
Cryptocurrency, PayPal, P2P
Not available for US citizens
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8Great
73
281
Bank transfer, Credit card, Cryptocurrency, Debit card, P2P
Disclaimer: Highly volatile investment product. Your capital is at risk. Not available for US citizens
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8.2Great
26
105
Bank transfer, Debit card, PayPal, Wire transfer
Crypto Trading is offered via eToro USA LLC (NMLS ID: 1769299). This entity is not a registered broker-dealer or FINRA member and your cryptocurrency holdings are not FDIC or SIPC insured. Investments are subject to market risk, including the possible loss of principal.
Important information
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.
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OKX logo
9.4Excellent
OKX Cryptocurrency Exchange
9.4Excellent
1
181
Bank transfer (ACH), Debit card, Wire transfer, Apple Pay, Google Pay, Plaid
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SoFi logo
7.8Great
SoFi Crypto
7.8Great
1
29
External bank transfer (ACH), Inbound wire transfer, ATM deposit
DIGITAL ASSETS EXCEPT SOFI EARN (SOFIE) ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE SoFi Crypto is offered by SoFi Bank, N.A. Cryptocurrency and digital assets are not deposits, involve risk and are not insured by FDIC. Please refer to the SoFi Crypto Account Agreement and SoFi Crypto Risk Disclosure for additional terms and conditions.
Important information
DIGITAL ASSETS EXCEPT SOFI EARN (SOFIE) ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Digital assets offered through SoFi Crypto are highly speculative, involve significant risk, and may result in the complete loss of value. These assets are not deposits, are not insured by the FDIC or SIPC, are not bank guaranteed, and may lose value. SoFi Crypto is offered by SoFi Bank, N.A., a national bank regulated by the Office of the Comptroller of the Currency. SoFi Bank does not provide investment, tax, or legal advice. Please refer to the SoFi Crypto Account Agreement and SoFi Crypto Risk Disclosure for additional terms and conditions. SoFi Earn (SOFIE) is a separate product from SoFi Crypto. SOFIE is a tokenized deposit representing a deposit liability of SoFi Bank, N.A., Member FDIC. Funds represented by SOFIE are eligible for FDIC insurance up to applicable FDIC rules and limits. SOFIE is not a payment stablecoin. Please refer to the SoFi Bank Tokenized Deposit Account Agreement for additional terms and conditions. Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 10/20/26. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at https://www.sofi.com/crypto/legal/tokenized-deposit-rate-sheet. Funds represented by SOFIE are insured up to $250,000 per depositor, per insured bank, for each account ownership category pursuant to the FDIC's general deposit insurance rules. For more information visit FDIC.gov.
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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

Images: Shutterstock

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

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Tim Falk is a freelance writer for Finder. Over the course of his 20-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio

Tim's expertise
Tim has written 26 Finder guides across topics including:
  • Banking
  • Personal Loans
  • Car Loans
  • Stock Trading
  • Cryptocurrency
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