How to Buy Bitcoin Online with Bank Transfer

These days, cryptocurrencies are the new craze – from Bitcoin to Dogecoin, there truly is a wealth of choice. But Bitcoin will always be the original, and just because it was the first cryptocurrency to be successful doesn’t mean that it hasn’t kept up with its younger and (arguably) more modern competitors.

In fact, Bitcoin is still leading the industry, and it does so by keeping up with the times and giving consumers what they need and want. And one of the most valued features of crypto coins is ease of use – that is, convenience.

There are many different ways in which Bitcoin contributes to this, but today, we’re going to talk about bank transfers. Of course, it all starts with buying Bitcoin, so the easier it is to do this for both Bitcoin and its traders, the more business Bitcoin will get.

Now, we all know what a bank transfer is in general terms, but how exactly does it work in relation to Bitcoin and cryptocurrencies in general?

What is a Bank Transfer?

In simple terms, a standard bank transfer is a payment that is made via your bank in order to transfer money online. Essentially, the process moves money from your bank account to the bank account of your chosen broker and it’s all done online.

Bank transfers are also sometimes referred to as wire or credit transfers, depending on who you ask.

What is a Bank Transfer Bitcoin Broker?

So, now that we have clarified what a basic bank transfer is, what exactly is a bank transfer Bitcoin broker?

Well, since an ordinary bank transfer is a payment that occurs from your bank account to the bank account of a broker, a bank transfer Bitcoin broker is a special type of broker that allows you to buy Bitcoin with a bank transfer. Because you can’t do that with any ordinary broker.

What Should You Look for When Selecting a Bank Transfer Bitcoin Broker?

If the idea of a bank transfer Bitcoin broker is something you’re unfamiliar with, you may be wondering what you’re supposed to be looking for when selecting this kind of specialised broker.

There are a few things that you need to consider, and we’re going to give you a run down.


We’ll start with the most obvious consideration and that is the fee that you’ll need to pay the broker, because let’s be honest, it’s always about the money. Some brokers charge more and others charge less. This all comes down to how much you’re willing and able to spend on their service. Everybody’s different. But whatever you do, make sure that you’re spending what you can afford and not overdoing it.


When it comes to money and making online payments, your first consideration ought to be security. Of course, you can rest assured that bank transfers are safe and your money will be protected. However, when you’re using a bank transfer Bitcoin broker, you’re adding another variable to the equation, which means you need to make sure that they’re secure too.

Now, this doesn’t just mean whether or not they’re trustworthy, but that is, of course, a consideration too. Rather, it’s about checking whether or not they’ve got all the important regulations and safety protocols in place to protect both you and your money. 

User Experience:

This is another factor that largely comes down to preference, but user experience is a really important part of choosing the right bank transfer Bitcoin broker for you. Some websites are simply more user friendly, or, may simply be more preferable for you and your taste.

Therefore, it’s really important that you have a look and make a decision on the type of user experience that the bank transfer Bitcoin broker in question is able to offer you. The last thing you want to do is skip this step and realise when it’s too late that you don’t enjoy the user experience on their website.


Speed may or may not be important to you, and if it is, it’s something you should consider and question when finding your bank transfer Bitcoin broker. Bank transfers generally aren’t the quickest payments in the world. However, it is possible to find specific brokers that are able to do instant transfers. Therefore, if that’s a priority for you, make sure that you check that instant payments are possible before you commit to a specific broker.


There are always limits on how much money you can transfer by means of bank transfers, as well as trading limits. Therefore, when you’re selecting the platform that’ll best suit your needs, make sure you take this into consideration, especially if it is something that is important to you.

Which Cryptocurrency Platforms Accept Bank Transfers?

Just like ordinary banks don’t accept payments in cryptocurrencies, not all cryptocurrency platforms accept payments via fiat money. In fact, many cryptocurrency platforms only accept crypto-to-crypto payments – generally speaking, these are decentralised platforms.

Thus, what you’re looking for is a platform that is centralised. There are many crypto platforms that are centralised and use bank transfers. This includes:

  • Online cryptocurrency exchanges
  • Various marketplaces
  • P2P lending platforms

The Best Bitcoin Brokers That Accept Bank Transfers

  • Pepperstone
  • Etoro
  • Coinmama
  • Coin Base
  • Trading 212

How Do You Deposit and Withdraw Via Bank Transfers?

As you’ll see in the next subsection, depositing money into your account is the most integral part of your Bitcoin purchasing journey, so we’re going to tell you just how to do that. As for withdrawing money, this is moving in the opposite direction and can only be done using fiat money that’s in your account – not direct Bitcoin.

How to Deposit Via Bank Transfers

The actual process of depositing money is quite simple. Just find the payment section on the website of the platform you’ve selected and choose a bank transfer.

Depositing money is simple and on your side, it’s quick. However, what isn’t quick is the processing time. Much like ordinary bank transfers, it can take a while, sometimes up to a day or even more to complete.

However, while this may not be the quickest process, it certainly is secure. So, when you’re deciding what to do and how to deposit money into your account, you’ll really need to decide whether you want to prioritise speed or security.

How to Withdraw Via Bank Transfers

As we mentioned, withdrawing money from a cryptocurrency platform can be done on certain platforms, but you can only withdraw fiat money, not fiat money that’s been converted to Bitcoin. In addition, you need to make sure that the platform you’ve accepted allows for withdrawals by means of bank transfers. Just because they allow withdrawals, doesn’t mean it’ll be in the form of a bank transfer.

Thus, if the platform you’re using allows bank transfers for withdrawals and you’re wanting to withdraw fiat money, then the process is simple. Just go onto the payments section on the website, click on withdrawals and follow the prompts.

How Do You Buy Bitcoin with Bank Transfers?

Once you’re ready to transfer Bitcoin, you’ll be delighted to hear that the process is actually very straightforward. In fact, it’s much the same as doing an ordinary bank transfer. Just follow these easy steps:

  1. Select a bank transfer Bitcoin broker. Analyse your options carefully, go through our list of considerations when selecting a broker and then make an informed decision. We’ve even created a list below of some of the best options to choose from if you don’t know where to start. The nice thing about this list is that all of the options accept bank transfers.
  2. The next step is to become a member of the trading platform in question – this is a requirement. Generally speaking, this refers to centralised platforms and not necessarily all decentralised platforms. But, as we said above, most platforms that are decentralised don’t accept bank transfers, so you’ll pretty much only be looking at centralised platforms anyway.
  3. Find the payment section on the website or the platform to make your first deposit. Select the wire transfer/bank transfer option as your preferred method of payment, and go ahead and fill in the desired amount that you’d like to transfer.
  4. Now, your account balance will be loaded/topped up with fiat money, and you can start buying Bitcoin via the broker that you’ve selected. The online process is pretty easy, so you should have no problem getting this right. Just be sure to keep tabs on the value of Bitcoin to ensure you have the funds needed to complete the process.

Is it a Good Idea to Buy Bitcoin Using a Bank Transfer?

If you’re wondering whether or not it’s a good idea to buy Bitcoin using a bank transfer, you’re certainly asking a good question. When it comes to any financial related decision, it’s always a good idea to do your research and be confident in what you’re doing. That’s why we’re going to tell you more  about both sides of the coin. We’re going to delve deeper into the pros and the cons of buying Bitcoin using a bank transfer so that you know exactly what your available options are and whether or not this is the best option for you.  

Pros of Buying Bitcoin Using a Bank Transfer:

  • It’s secure. The security of your funds is arguably the most important part of any transaction process. As banks are the primary type of financial institution, they have extensive experience in ensuring that their customer’s funds are safe and secure. Every reputable bank uses state-of-the-art technology to ensure that the payment processes that they provide are secure. So, you can be sure that when you transact using bank transfers, your money is safe.
  • It’s direct. One of the biggest pluses of using bank transfers to buy Bitcoin is that you can make direct payments into the crypto platform you’re using. This means that you can purchase Bitcoin directly from the platform itself and not involve a third-party. You don’t need to go through an extra step like you would with an e-wallet or a bank card. Not only is this easier and quicker, it is also less risky. The fewer steps in the transfer process, the more secure it will be.
  • It’s easy to use. Using bank transfers to deposit money into the account of your cryptocurrency is easy. All you have to do is follow the prompts on the website and you’ll be good to go.

Cons of Buying Bitcoin Using a Bank Transfer:

  • It can be slow. As we’ve mentioned previously, bank transfers in general tend to be quite slow transaction methods, and this applies in this case too. It can take several business days for the money you’ve deposited to reflect in your balance on the platform you’ve chosen, so if you’re in a rush, this probably isn’t the best option for you.
  • Fees may be higher. This all depends on the bank you’re using, your location and several other factors, but sometimes, bank transfers can charge pretty hefty fees. Always make sure you check out these fees before you go ahead.
  • It’s not always an option. Unfortunately, not all Bitcoin brokers allow bank transfers, so if that’s your preferred method of payment, it’s something you need to check out. Luckily though, these days, most do, so you certainly won’t have a problem finding a broker that’ll allow you to make payments via bank transfers.

Thus, if you’re wondering whether or not using bank transfers is the best way to buy Bitcoin, it really all comes down to the individual. The process has several pros and cons, and it’s up to you to decide what your priorities are and which of these things are important to you.

The important take away is that it’s possible (and safe) to buy Bitcoin online by means of a bank transfer, as long as you take all of these aspects into consideration.

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