Buy Crypto whit Bank Account
5 Ways to Buy Crypto with a Bank Account
Buying Cryptos with a bank wire is probably the best way to go in order to get the cheapest exchange rate possible. Depending on where you live in the world, there are different exchanges that will be best suited for you. In this post we will cover the main reputable exchanges that supply bank wire services.
To buy cryptocurrency with a bank account, you can use a cryptocurrency exchange or brokerage that allows linking a bank account and transfer funds. The process typically involves the following steps:
- Create an account on a cryptocurrency exchange or brokerage that supports bank transfers.
- Complete any required verification steps, which may include providing personal information and identity verification documents.
- Link your bank account to the exchange or brokerage by providing your account information.
- Transfer funds from your bank account to your crypto account using the exchange or brokerage’s platform.
- Place an order to buy crypto using the trading tools provided by the platform.
Some popular crypto platforms that support bank transfers include Coinbase, Cryptocom,Kraken,Cexio and Binance. It’s important to note that the process and requirements for buying crypto with a bank account can vary between different exchanges and brokerages, so it’s important to carefully research and compare different options to find the one that best suits your needs.
How to Buy Crypto with a Bank Account Summary
- Visit Coinbase and open an account
- Go to your dashboard and select – “Add payment method”
- Add your bank account
- Go to “Buy/sell”
- Buy Crypto
1. Buy Crypto with your bank account through Crypto.com
Pros: Multiple payment options, no deposit fees, wide selection of cryptocurrencies
Cons: Some geo-restrictions apply Crypto.com App is centralized Crypto.com exchange is not available to U.S. residents
Crypto.com is a cryptocurrency exchange company based in Singapore. As of May 2022, the company reportedly had 50 million customers and 4,000 employees. The exchange issues a token, Cronos.The company was initially founded in Hong Kong by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo in 2016 as “Monaco”. In 2018, the company was renamed as Crypto.com following a purchase of a domain owned by cryptography researcher and professor Matt Blaze. Domain sellers valued the domain at US$5–10 million.
2. Buy Crypto with your bank account through Binance
Pros: Low non-instant and instant buy fees , Extremely large coin selection , Numerous extra services
Cons: Hiccups in account verification Not available in the US
Binance is a cryptocurrency exchange which is the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.
3. Buy Crypto with your bank account through Coinbase
Pros: Fast transfers within the US and EU, low fees
Cons: Slow support, Not completely available worldwide
Coinbase is one of the pioneering companies in the Bitcoin ecosystem and has been around since late 2012. Coinbase supplies brokerage services to many countries around the world (meaning they sell you Bitcoins and other cryptos directly and not through a trading platform).
For US customers, Coinbase allows you to connect your bank account via ACH bank transfer. For European customers Coinbase will also allow you to buy Bitcoins with a SEPA transfer.
For all countries Coinbase supports (100+ in total) there is a US$10 fee for wire deposits, as well as a standard trading fee of 0.50% or less.
4. Buy Crypto with your bank account through CEX.io
Pros: Multiple payment options, no deposit fees, wide selection of cryptocurrencies
Cons: Relatively high fees on brokerage service (can be avoided by using the trading platform)
CEX.io is one of the oldest crypto companies around, founded in 2013. Today the company provides two main services – a brokerage service and a trading platform service. The brokerage service is usually more expensive, but easier to use. On the other hand, the trading services are cheaper but can be confusing.
The company supplies the option for SEPA transfers within the EU and bank transfers for countries outside the EU. All bank account transfers are 0% in fee for depositing money.
5. Buy Crypto with your bank account through Bitfinex
Pros: Accepts bank wire deposits and withdrawals, Suited for advanced traders
Cons: Slow support, U.S. citizens not accepted , High trading fees
Bitfinex is a cryptocurrency exchange owned and operated by iFinex Inc registered in the British Virgin Islands.Their customers’ money has been stolen or lost in several incidents, and they have been unable to secure normal banking relationships.Bitfinex was founded in December 2012 as a peer-to-peer Bitcoin exchange, offering digital asset trading services to users around the world. Bitfinex initially started as a P2P margin lending platform for Bitcoin and later added support for more cryptocurrencies.