Here Is How You Can Buy Bitcoin Using a Bank Account - Coindoo

Here Is How You Can Buy Bitcoin Using a Bank Account

Editorial Team Avatar
Jan 10, 2019
5 min reading time

A few years have passed since Bitcoin’s launch, the world’s first ever cryptocurrency known for starting what already is one of the biggest revolutions in the financial field.

During these years, a lot has happened in the cryptosphere. Hacks, attacks, ICO scams, and incredibly high volatility are all part of the crypto environment. However, despite all of that, cryptocurrencies are now stronger than ever, more and more exciting and innovative projects are slowly but surely changing the world with each step.

This unprecedented exposure has also resulted in the creation of more and more cryptocurrency exchanges which, in turn, only made cryptos a lot more popular and accessible to the public. So much so that it’s easier to buy crypto (especially Bitcoin) now than it ever was.

One of the simplest and most efficient ways of buying Bitcoin is with your bank account. At this point, you may be wondering why should you use a bank account instead of a credit card, for example.

Why buy Bitcoin with a bank account?

For starters, purchasing Bitcoin with your bank account is far less risky than other methods. Unlike credit card payments, bank transfers are considered irreversible on most exchanges and, therefore, reduce the risk of chargeback.

Another advantage of the said method is the fact that fees are significantly lower. On most cryptocurrency exchanges, you will get between 30% and 60% lower fees for using wire transfer over the credit card method.

Since banks are usually reputable and trustworthy institutions, the buy limits are also much higher when using a bank transfer to fund your account. The only real drawback of this method of buying Bitcoin with your bank account is the potentially long times involved (since the transfer needs to clear several banks on its way to the exchange).

To help you out, we created a list with some of the best crypto exchanges from where you can purchase Bitcoin with a bank account.


Coinbase is one of the oldest and most popular crypto exchanges and has been in business since late 2012. The crypto brokerage exchange serves 32 countries and allows its users to buy Bitcoin using their bank accounts, among other methods.

Currently, the exchange supports Bitcoin, Ethereum, Litecoin, 0x, Ethereum Classic, and Bitcoin Cash. The exchange charges 1,49% fees for bank purchases and has mandatory AML/KYC requirements. You mainly want to use Coinbase for its fast transfers and low fees.

The process of buying Bitcoin is pretty much straightforward on Coinbase, as you only have to sing up for an account on the platform, connect your bank account by completing some verification steps, and follow through by accessing the platform’s Buy section.

Launched in 2013, is another leading crypto exchange that has been in the sphere for quite some time now. The London-based crypto exchange allows you to purchase Bitcoin with your bank account. The list of supported cryptos includes Bitcoin, Ethereum, Ripple, Bitcoin Cash, Zcash, Bitcoin Gold, to name a few. The main advantage of is that it doesn’t charge fees for bank account transfers.

To buy you must first register an account, and then head over to the Buy section. Please note that you will have to undergo a complete verification process. Please check out the exchange’s dedicated sections for limits and commissions, as well as for transaction, deposit/withdrawal, and margin trading fees.


Bitstamp is a Luxembourg-based crypto exchange that allows its users to trade between fiat and cryptocurrencies. It supports USD, EURO and cryptos such as Bitcoin, Litecoin, Ethereum, Ripple, and Bitcoin Cash.

Bitstamp charges 0,5% for international deposits, and the trading fees range from 0,1% to 2,5% depending on the amount that’s being traded. To buy Bitcoin on Bitstamp, simply sign up for a free account, deposit your funds in your Bitstamp account, choose bank account as the preferred method and place the order. Confirm the order by clicking “buy BTC.”


LocalBitcoins is not the most popular crypto exchange/brokerage service out there, but it has made a name for itself in the sphere during the last couple of years. It has been around 2012 and servers all countries. Even more impressive is the fact that it supports almost all major fiat currencies, and the KYC is not mandatory.

LocalBitcoins is a peculiar crypto service, hence, you should first check out the FAQ section before attempting to buy Bitcoins with your bank account.


Kraken is one of the newer crypto exchanges on the market. The platform is the world’s largest Bitcoin exchanges regarding euro volume and liquidity. The exchange supports USD, EUR, JPY, and CAD, and has one of the most impressive collections of supported cryptocurrencies, Bitcoin included.

How do I buy Bitcoin instantly with my bank account?

Unfortunately, the traditional banking systems are so slow and outdated, that purchasing Bitcoin instantly via bank account is not yet currently possible. Usually, the process takes somewhere between three and five days.


Buying Bitcoin with the help of your bank account is without a doubt one of the safest and most convenient methods thanks to its accessibility, purchasing limits and low transaction fees. However, the said method requires you to be patient a few days. If speed is what you’re after, then there are better options, such as using a credit or debit card.

* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
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