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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.

If you want to buy cryptocurrency with euros, 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
Bitpanda Cryptocurrency Exchange
Cash, Credit card, Cryptocurrency, Neteller, Bank transfer (SEPA), SOFORT
EUR, GBP, CHF, USD

83
cryptocurrencies

A European exchange which enables users to pay in EUR, GBP, CHF and USD through a variety of payment platforms.
eToro Cryptocurrency Trading
Bank transfer, Credit card, Debit card, Neteller, PayPal, Online banking, Skrill
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK & 5+ more

31
cryptocurrencies

Disclaimer: Volatile investment product. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Copy the trades of leading cryptocurrency investors on this unique social investment platform. $50 minimum deposit.
CoinSmart Cryptocurrency Exchange
CoinSmart Cryptocurrency Exchange
Interac e-Transfer, Bank transfer (SEPA), Wire transfer, Credit or Debit Card
CAD, EUR

9
cryptocurrencies

Purchase a handful of leading cryptocurrencies with EUR and enjoy 24/7 customer support.
Kriptomat Cryptocurrency Exchange
Credit card, Neteller, SOFORT, Skrill, SEPA
EUR, USD, GBP, BGN, HRK, CZK, HUF, PLN, SEK, TRY

198
cryptocurrencies

Finder Exclusive: Sign up with code FINDER15 and get EUR 15 when you spend over EUR 100 each month. T&Cs apply.
Buy a large selection of cryptocurrencies instantly via credit card or bank account after registering. Store your crypto conveniently in Kriptomat's multi-currency wallet.
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

870
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in GateTokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
FTX Cryptocurrency Exchange
FTX Cryptocurrency Exchange
Credit card, Wire transfer, Silvergate Exchange Network (SEN), Signature SIGNET
USD,EUR,GBP,AUD,HKD,SGD,TRY,ZAR,CAD,CHF,BRL

72
cryptocurrencies

Sign up through Finder for a 5% discount on all trading fees. T&Cs apply.
FTX is an exchange built by traders for traders, with a range of derivatives markets such as options and futures with deep leverage, in addition to standard spot markets. Note: Not available for US customers.
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

458
cryptocurrencies

Finder exclusive: Sign up and use code 1xf56 for one month of VIP 1 benefits. Deposit/transfer more than 0.1 BTC to KuCoin within 7 days of registration for 1 month of VIP 2 benefits. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Crypto.com App
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

156
cryptocurrencies

Buy 100+ cryptocurrencies, earn up to 14.5% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Binance Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, GBP, EUR, RUB, TRY, NGN, UAH, PHP, CZK & 20+ more

314
cryptocurrencies

New users earn up to USD $500 in bonus rewards on qualified deposits and trades. Valid till 31 December 2021. T&Cs apply.
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance 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.
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

38
cryptocurrencies

Get a Welcome Bonus of USD 15 in WXT when you sign up with Wirex through Finder. T&Cs apply.
Spend a range of cryptocurrencies anywhere Mastercard is accepted with the Wirex Crypto Card and earn rewards.
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Compare up to 4 providers

Bank account payment methods

There are three ways you can buy crypto with your bank account:
  • Bank transfer. Bank transfers are usually free and offer a simple way to deposit funds – just enter the exchange’s bank account details from your financial institution’s Internet banking portal like you would for any other payment. However, these transfers can take one to two business days to arrive.
  • Credit or Debit card. Register with an exchange that accepts credit or debit card transactions to purchase cryptocurrencies. Most leading exchanges now accept card transactions as a payment method.
  • SEPA payments. The Single Euro Payments Area (SEPA) is the best option for cross-border euro bank transfers. The service aims to make cross-border euro transfers within this area equivalent to a domestic transfer within your own country.

Depending on the exchange you choose, the exchange may support one, two or even all three of these payment methods.

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 euros.

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:

  • Bank account payment methods. How can you send EUR to the exchange from your bank account: bank transfer, credit card or SEPA transaction?
  • Fees. How much will it cost you to complete your transaction? Remember to consider the trading fees the exchange charges and any additional fees the banks or payment methods may add on.
  • 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? Some payments can clear instantly, bank transfers can take one to two business days.
  • Supported cryptocurrencies. Which cryptocurrencies can you purchase directly with EUR? 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?
  • Sign up 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 2-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 centre 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

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 EUR 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 EUR
  • 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 EUR – 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.

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