Buying bitcoin and other crypto directly from your bank account is maybe the most convenient way to buy bitcoin, especially if you are transacting a large amount. Also, depending on the bank you are using and the country you are in, you can get better exchange rates. Moreover, cryptocurrency exchanges consider this method less risky. Also, it is cheaper and can be a lot easier to buy bitcoins with a bank account or checking account compared to other methods like credit cards. Bank transfers also have higher limits, therefore you can make larger transactions.
Buy Crypto With a Bank Account
- With Juno Bank, formerly OnJuno, in the USA, allows you to have an integrated crypto wallet in your checking account app and while Wirex allows you to save crypto and fiat currency in a single account in the European Economic Area (EEA), the UK, Hong Kong, New Zealand, the Philippines, Singapore and Taiwan.
- Revolut Bank is available in the UK, EU countries and the USA, and some other countries, which allows you to invest in Bitcoin “virtually”, without being able to transfer your Bitcoin to an external wallet unless you’re a Revolut Metal customers in the UK.
- With platforms such as Relai in Europe and Swan in the USA or Paybis in many more countries in the world, you transfer money to their account and they deposit Bitcoin to your wallet, without having to perform any extra steps. More examples you can find below.
Buy bitcoin with bank account in USA: in August 2022, Sullivan Bank in the US announced that it has partnered with Bakkt enable Sullivan Bank customers to buy, sell and hold bitcoin and Ethereum.
OnJuno: Buy Bitcoin with checking account
OnJuno, rebranded to Juno, is a combined US dollar, bitcoin and crypto checking account for customers in the USA. You can use Juno bank to invest, buy, sell and send bitcoin, ethereum or USDC using your checking account app. Your crypto wallet is directly linked to your Checkings Account, meaning you can buy crypto with checking account.
When you sign up for an account, you also get a MasterCard Metal card. With this crypto checkings account, you can manage both fiat currency and cryptocurrency using one account and use the account as your daily driver to receive salary, pay bills and auto-invest in crypto. Bank Juno is a great solution if you want to buy bitcoin instantly with your checking account. For example, you can do it automatically when your salary is deposited on your account, by setting up a rule to invest everything or a part of it in bitcoin.
How to Buy Crypto with Revolut Bank
Revolut is a crypto friendly bank that allows you to buy Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and many more crypto (as well as stocks). Unfortunately, you can’t transfer your Bitcoin to an external crypto wallet unless you’re a Revolut Metal customers in the UK. One notable feature that Revolut offers is automatic recurrent buying. Revolut is available in the European Economic Area (EEA), Australia, Singapore, Switzerland, and the United States. It will soon be available in Hong Kong.
To buy cryptocurrency on Revolut, you need to sign up on the website or download Revolut app for Android or iOS. You then need to go to Dashboard, select Cryptocurrencies, then read and accept the T&Cs. You will then be able to buy instantly.
How to Buy Crypto with Relai
Relai is a bitcoin only crypto investment app without KYC and which you can use in EEA countries. You can use it to buy and sell crypto. You can buy and sell crypto on Relai without registering or creating an account. Relai comes with a non-custodial crypto wallet, giving you full control of your private keys. You can use the app to transfer the bitcoin to any other wallet.
To buy crypto using Relai, you need to download the app. Then enter the amount of bitcoin you want to buy. You can set the number of times you want to be buying bitcoin. It can either be once, weekly or monthly. You will need to make a bank transfer through SEPA to Relai to complete the transaction. The next thing, you need to enter your IBAN number. You will be provided with payment details and the amount you need to pay. Once you have made the payment, you will receive bitcoin, which generally can take anything between 2 and 7 workdays.
How to Buy Crypto with Swan
Swan is another app that you can use to buy Bitcoin, but is moslty used by US citizens (although it can also be used from outside). You can use your current account or wires to buy bitcoin. You can set recurring bitcoin purchases and it does not charge withdrawal fees. Through Swan, you can invest in bitcoin using the Dollar Cost Averaging strategy.
You can buy bitcoin instantly on Swan by clicking the “Buy Instantly” button for a 1.49% fee. You can buy bitcoin at the current market price and you will be billed from your current bank account. International customers who want to buy bitcoin worth more than $10,000, you need to wire funds to their accounts. Wire transfers cost only a 0.99% fee. Only U.S customers can directly link their bank accounts with Swan.
How to Buy Bitcoin PayPal
In 2020, PayPal launched a service to allow you to buy Bitcoin using your PayPal account in the US. In 2021, the company launched a similar service in the United Kingdom. As a PayPal customer, you will be able to buy, hold and sell Bitcoin and other cryptocurrencies directly from your PayPal account.
To buy Bitcoin with Paypal, login to Paypal and select Cryptocurrency. You should see the option for cryptocurrency in the top right of the dashboard, next to ‘Send’ and ‘Request’. Select ‘Bitcoin,’ select ‘Buy,’ select the amount you want to buy, select payment method then hit the ‘Buy’ button.
How to Buy Crypto with Mode
Mode is a mobile app available on Play Store and App Store that you can use to buy bitcoin with a bank account in the UK. It offers a secure way to pay online through open banking technology. You can top up your Mode balance using your UK bank account for free. You don’t need to provide a billing address or card details since you can use your Mode pay balance or a bank account to buy bitcoin. You can use Face or Touch ID technology to verify payments. The platform is safe and secure to buy and store safely your bitcoin.
How to Buy Crypto with Strike
Strike is an app that helps you send, spend, remit, and buy bitcoin. To buy bitcoin on Strike, you need to download the app. Sign up using your name, phone number and email. Then, set up a bank account you can use to transfer fiat currency. You can then withdraw from your bank account and pay directly to your wallet address. Transactions are super-fast. You can apply dollar-cost averaging strategy when using Strike for long-term and successful bitcoin investment.