Bitcoin

Learn where and how to securely buy Bitcoin via Bank transfer in this simplified guide

Cryptocurrencies including Bitcoin are dominating the crypto market in recent years with more people seeking ways to purchase them. One of the most common methods to buy Bitcoin is via Bank transfer. This way the coins can be bought with the cheapest exchange rate.

The buyer needs to ensure the safe buying of Bitcoin while bank transfers are secure. When buying Bitcoin via Bank transfer, the transfer of funds is taking place directly from the bank account to a cryptocurrency exchange. The exchange, in turn, will credit the account with the corresponding amount of Bitcoin. There are many cryptocurrency exchanges available to buy Bitcoin through banks. Some popular exchanges include Coinbase, eToro, Kraken, Bitpanda, Binance, etc. Buying Bitcoin via Bank transfer is relatively easy. However, to ensure buying Bitcoin safely, there are several steps to follow. Let’s look at Where and how to securely buy Bitcoin via Bank transfer in detail:

Where to Buy Bitcoin via Bank Transfer?

1. Coinbase

The popular exchange, Coinbase is beginner friendly allowing to buy, sell and store bitcoin

2. Kraken

Kraken is a reputable exchange with low deposits and trading fees. One of the largest Bitcoin exchanges in terms of euro volume and liquidity

3. Bitpanda

Founded in 2014, Bitpanda allows depositing 5 major fiat currencies via Bank transfer.

4. Binance

Binance, based in Europe provides users with access to a wide range of cryptocurrencies. They also accept bank transfers as a payment method.

5. eToro

eToro is an intuitive interface for beginners supplying an easy-to-use trading platform for investing and accepts Swift transfers worldwide.

How to securely buy Bitcoin via Bank transfer?

The steps to follow are:

  1. Choose an apt Cryptocurrency exchange that has proven track records and high ratings.
  2. The exchanges ask for account verifications before buying Bitcoins. Users need to provide an identification document.
  3. After verifying the bank account, users need to link their bank account by providing bank details.
  4. Place an order to buy after linking. In this step, the user can select the payment method.
  5. After placing an order, wait for confirmation from the exchange depending on the amount of Bitcoin bought.
  6. Once confirmed, the Bitcoin will be transferred to the user’s wallet where they can store it safely.