How to Buy Bitcoin with Bank Account

Reviewed by Colin Aulds

We've listed exchanges that will let you buy bitcoins with a bank account or bank transfer from checking accounts. ACH and wire transfers are the two most popular methods of bank transfer in the United States.

We may receive advertising compensation when you click certain products. Before jumping into this page, an important disclosure.

Key Takeaways

  • eToro, Coinbase and Kraken are three of the best exchanges for buying crypto with a bank account.
  • Bank transfer is one of the cheapest ways to buy bitcoins.
  • Exchanges that accept bank transfers will almost always be online and not in-person. You'll add your routing and account number.

eToroeToro

eToro allows you to buy Bitcoin & crypto with bank transfer in the United States via wire or ACH.

It offers a free wallet, app, and is easy and quick to use for purchases.

Limited time offer: Get $10 free once you trade $100 worth of cryptocurrency.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. BuyBitcoinWorldwide.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

Visit eToro's Website

Pros
  • Trusted exchange with 25+ million users
  • Easy to use to buy
  • The interface is clean and many coins supported
Cons
  • You cannot deposit cryptocurrency, but you can deposit with other payment methods
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Ease of Use
Easy
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Privacy
Low
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Speed
Average
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Fees
Low
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Reputation
Trusted
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Limits
High

UpholdUphold

Uphold is based in New York and supports US dollar deposits via bank account thru wire transfer or ACH transfer. Visit Uphold's Website

Pros
  • Ability to also buy gold and silver
Cons
  • Requires ID verification, so not private
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Ease of Use
Easy
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Privacy
Low
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Speed
Average
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Fees
Low
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Reputation
Trusted
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Limits
High

CoinbaseCoinbase

In the USA you can buy bitcoin with a connected bank account on Coinbase via ACH bank transfer or wire transfer. Coinbase charges a flat 1.49% fee on all transactions. Visit Coinbase's Website

Pros
  • Trusted exchange with 100 million+ users
  • Based in the USA; with a free wallet included
  • App available on Apple App Store & Play Store
Cons
  • Easy to use but fees can be high
  • Coinbase may track how and where you spend your bitcoins
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Ease of Use
Easy
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Privacy
Low
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Speed
Average
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Fees
Average
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Reputation
Trusted
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Limits
High

GeminiGemini

US customers can purchase bitcoins on Gemini by funding their account with ACH transfer or wire transfer. In our testing, we noticed that Gemini charges a $25 for wire transfers that are outgoing. Visit Gemini's Website

Pros
  • Trustworthy and regulated exchange
  • Instant deposit lets you buy coins quickly (but not withdraw them)
  • Some of the lowest fees in the US and Canada
Cons
  • Somewhat confusing to use for new buyers
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Ease of Use
Hard
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Privacy
Low
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Speed
Slow
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Fees
Low
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Reputation
Trusted
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Limits
High

CoinmamaCoinmama

Coinmama supports buying with bank transfer in the USA through wire or ACH. Our research has shown that there are no fees on purchases of 1000 USD or more, while purchases under 1000 USD cost 20 USD in fees.

Pros
  • Works in almost all countries
  • Highest limits for buying bitcoins with a credit card
  • Reliable and trusted broker
Cons
  • Some of the highest fees among credit/debit card bitcoin brokers
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Ease of Use
Easy
privacy icon
Privacy
Low
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Speed
Fast
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Fees
Average
reputation icon
Reputation
Trusted
limits icon
Limits
High

Coinbase Advanced TraderCoinbase Advanced Trader

US customers can fund their Coinbase Exchange trading accounts via ACH or bank wire. You'll connect your account via routing number and account number upon verifying your Coinbase account.

Pros
  • Some of the lowest fees available for US and EU customers
  • Possible to buy bitcoins for 0% fees
Cons
  • The user interface is confusing for first-time buyers
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Ease of Use
Hard
privacy icon
Privacy
Low
speed icon
Speed
Average
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
High

KrakenKraken

Kraken is one of the world's largest crypto exchanges. It supports bank transfer deposits from the US via international bank transfer, ACH transfer, wire transfer and SWIFT. Visit Kraken's Website

Pros
  • Very low 0.25% taker fee, falling to 0.1% with sufficient trading volume
  • Very low maker fee, falling to 0% with sufficient trading volume
  • Highly-rated for security and data protection
Cons
  • Requires ID verification, so not private
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Ease of Use
Hard
privacy icon
Privacy
Low
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Speed
Average
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
High

CEX.ioCEX.io

CEX.io allows for purchases of bitcoins using ACH or wire transfer in the USA.

Pros
  • Support for many countries and regions
  • Low 0.2% trading fee
  • Established and trusted exchange
Cons
  • Verification process is extensive, requiring much personal information (including a photo) and incurring a long delay
  • GBP market lacks liquidity
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Ease of Use
Average
privacy icon
Privacy
Low
speed icon
Speed
Average
fees icon
Fees
Average
reputation icon
Reputation
Trusted
limits icon
Limits
Average

Fee Comparison

ExchangeFees
eToro1%
Coinbase1.49%
Gemini1.49% if over $200; Higher if Less Than $200 Purchase
Kraken0 - 0.5%

What are the pros of buying with a bank account?

The benefit of using a bank account are fees. Bank account is usually the cheapest deposit method for buying coins. Limits are also usually higher when using a bank account, assuming you have verified your account.

What are the cons of buying with a bank account?

The cons are speed. Bank transfers are slow in many countries, so bank transfer is often the slowest way to buy bitcoins.

What about bank vs credit card?

In our testing, we observed that credit card or debit card purchases will be faster, but come with much higher fees. Bank account is slower in general but has lower fees.

Can you buy bitcoin with Plaid?

Plaid banking have an article on their website detailing the steps to take to connect your Plaid account with a crypto wallet.

Safety Precautions:

  • Secure your Transactions: Make sure the exchange uses HTTPS. Don't use public wifi when signing up.
  • Enable 2FA: Most exchanges force you to use 2FA, so this won't be an issue. If the exchange does not require 2FA, don't use it.
  • Check the URL: Match the URL in the browser to the one you're trying to reach. Some scams try to change letters around.

bank account bitcoin

Steps to Buy Bitcoin with Bank Account:

  1. Registration: Sign up for the exchange you want to use.
  2. Verification: Verify your ID. You'll usually need to verify your ID before you can buy.
  3. Connect Bank Account: Once verified, you can connect your bank account.
  4. Deposit Funds: Deposit USD or your local currency to your exchange account.
  5. Purchase Bitcoin: Once your funds are deposited, you can acquire bitcoins.
  6. Withdraw: Move your bitcoins off the exchange after.

Factors to Consider Before Choosing an Exchange:

  • Geographical Restrictions: Some exchanges only work in certain countries. In the USA, some don't work in certain states..
  • Liquidity: Platforms with higher liquidity allow you to buy and sell Bitcoin at competitive prices.
  • Customer Service: Most exchanges offer customer service if you have an account.
  • User Reviews: Check reviews on platforms like Trustpilot or Reddit for user experiences.

Methodology

We researched exchanges that support bank transfers in the USA. Then, we listed trusted exchanges that are proven and not scams.

Article Sources

BuyBitcoinWorldWide writers are subject-matter experts and base their articles on firsthand information, like interviews with experts, white papers or original studies and experience. We also use trusted research and studies from other well-known sources. You can learn more about our editorial guidelines.

  1. Square - Bank Transfers: What They Are and How to Do Them, https://squareup.com/us/en/the-bottom-line/managing-your-finances/what-is-a-bank-transfer
  2. Experian - What Is the Difference Between ACH and Wire Transfer?, https://www.experian.com/blogs/ask-experian/what-is-the-difference-between-ach-and-wire-transfer/

About the Author

jordan tuwiner

Jordan Tuwiner is the founder of BuyBitcoinWorldwide.com. He studied computer science at Towson University and holds an online degree in trading & cryptocurrency. Jordan has been writing about Bitcoin since 2015. His work has been featured in The Guardian, International Business Times, Forbes, VentureBeat, CoinDesk and many other top Bitcoin media outlets.



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