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Buy Crypto with a Bank Transfer

Buy Crypto with a Bank Transfer

Adrian Graham
Fact Checked
Oct 9, 2022

Summary: Buying Bitcoin and cryptocurrencies with a bank transfer is one of the easiest and safest methods available. The only consideration for investors is the specific bank transfer type required for their bank and jurisdiction.

If you are looking to get started quickly, we recommend the eToro platform which offers both SEPA and ACH bank transfers for investors in Europe and the US. Continue reading our guide to learn how to invest in digital assets with funds from any bank account in over 140 countries.

Table of Contents

Best Crypto Exchange for Bank Transfers

Platform Highlights

  • Instant and cheap Bank Transfers from 140 different countries.
  • Buy 80+ Cryptos and over 8,000 Stocks, ETFs & Commodities.
  • Globally licensed and regulated trading platform. Over 18 million customers worldwide.

How to Buy Bitcoin and Crypto with a Bank Transfer

The best way to buy Bitcoin and Cryptocurrencies with a bank transfer is with a globally licensed and regulated trading platform. As mentioned above, we recommend the eToro exchange because they hold digital asset licensing from key financial regulators in the USA, UK and Europe which makes them compatible with all major banks.

The guide below is a simple 4-step guide to investing in cryptocurrencies with an ACH or SEPA bank transfer in any country.

Step 1: Sign up to a Regulated Broker

The first step is to sign up for a regulated broker or exchange that offers the ability to buy cryptocurrency with a bank transfer. The best way to find a reputable platform is by checking online broker reviews or by looking for an exchange that is listed on a major stock exchange like the Nasdaq. To simplify things, we recommend eToro which is licensed in over 140 countries.

eToro Bank Transfer
Sign up to eToro.

Step 2: Select your Bank Transfer Method

Once you have signed up and logged in, the next step is to select your preferred bank transfer method and the fiat currency you want to deposit. For European investors this will be SEPA and for US investors this will be ACH. Depending on your country of residence, you may also have the option to use a wire transfer.

Fund Account with a Bank Transfer
Fund Account with a Bank Transfer.

Step 3: Complete your Bank Transfer

After you select your bank deposit method, eToro will provide you with unique deposit details to complete your transfer. You will now need to log in to your online banking account to complete the bank transfer to send funds to the platform.

Deposit Funds with Bank Transfer
Transfer Funds to your Unique ID.

Step 4: Execute your Crypto Trade

Once you complete the bank transfer to the details provided by eToro, your funds will arrive in minutes and you will be able to make your trade. Simply navigate through the eToro Crypto dashboard, find the coin you want to buy and execute your trade.

Explore and buy Crypto
Find your Crypto and Execute your Trade.

Is Buying Digital Assets with a Bank Transfer Safe?

Buying Bitcoin and other digital assets with a bank transfer is safe, if your bank is crypto-friendly. Fortunately, since the institutionalization of cryptocurrencies, most major banks have started to take a positive stance toward the asset class. This means that you should be able to easily deposit funds into regulated platforms like eToro, Coinbase or Kraken.

Even if your bank is not currently crypto-friendly, there are a few workaround methods you can use to buy digital assets with a bank transfer. The most common method is to use an intermediary service like Paypal or Skrill that allows you to easily convert your fiat currency into Bitcoin or Ethereum.

The Bottom Line

Investing in digital assets with a bank transfer is safe and easy if you use a regulated broker or exchange like eToro. If your bank is not currently crypto-friendly, there are workaround methods that you can use to buy Bitcoin and other digital assets. The most popular methods are to use an intermediary service or a peer-to-peer trading platform.

Adrian Graham

Co-Founder & former banker turned Full-Time DeFi analyst and researcher. Left traditional finance to pursue my interest in digital assets and decentralized finance.

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