Buying bitcoin with a 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 bank account and able to buy bitcoins with checking account in the US, 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, US, the Philippines, Singapore and Taiwan.
- Revolut (available in EU/EEA countries and the USA) allows you to buy and sell Bitcoin from your account directly, and transfer it to an external wallet or make bitcoin transactions.
- With platforms such as Relai in Europe and Swan in the USA or Paybis in many more countries in the world, you automatically buy bitcoin simply by making a bank transfer to their account. They then deposit Bitcoin to an address of your own choice, without having to perform any extra steps. More examples you can find below.
Buy bitcoin instantly with bank account in the USA: in August 2023, Sullivan Bank in the US announced that it has partnered with Bakkt to 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 buy bitcoin with a checking account in the US. Your crypto wallet is directly linked to your Checking Account, meaning you can use it to buy crypto instantly.
When you sign up for an account, you also get a MasterCard Metal card. With this crypto checking 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 financial institution available in EU/EEA countries, and the USA. It offers the convenience of buying and selling various cryptocurrencies directly through its banking app. Users can access popular cryptocurrencies such as Bitcoin, Litecoin and Ethereum, as well as other digital assets. Revolut’s user-friendly interface makes it easy for customers to engage in crypto transactions, but is not the cheapest in the market.
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. One noteworthy feature of Revolut is its support for automatic recurring cryptocurrency purchases, allowing users to gradually accumulate digital assets over time. Users also have the flexibility to transfer their Bitcoin to external wallets or engage in Bitcoin transactions directly through the app.
How to Buy Crypto with Relai
Relai is a bitcoin only crypto investment app without a KYC procedure, which you can use in EEA countries. You can use it to buy bitcoin. You can buy and sell bitcoin on Relai without registering or creating an account. Relai comes with a noncustodial 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 and if you wish 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 mostly 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, UK, and Luxembourg. 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 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 instant. You can apply dollar-cost averaging strategy when using Strike for long-term and successful bitcoin investment.
Buying Bitcoin With a Bank Account
If you’re looking for the simplest option in the US, Juno is a good choice. It’s a checking account that allows you to buy and sell Bitcoin directly from your account. You can also use Juno to send and receive Bitcoin payments. If you’re looking for an option in Europe, Revolut is a good choice. It’s a mobile banking app that allows you to buy and sell Bitcoin, as well as other cryptocurrencies. If you’re already familiar with PayPal, you can also use it in the UK and US.
There are a few things to keep in mind when buying Bitcoin with a bank account. First, make sure that your bank supports Bitcoin transactions. Second, choose a reputable Bitcoin exchange that offers fiat deposits. Finally, be aware of the fees associated with buying Bitcoin
How do I buy crypto with bank account?
To buy cryptocurrency with a bank account, you need to choose a reputable bank or fintech such as Revolut, Relai, and PayPal. After creating an account and completing verification, you can deposit funds from your bank account to the exchange and purchase the desired cryptocurrency. Confirm the transaction, and the cryptocurrency will be available in your account.
How do you buy crypto if your bank won't let you?
If your bank doesn't allow you to buy crypto, consider using a different bank, exploring peer-to-peer exchanges, using crypto ATMs, or finding an exchange that accepts credit/debit cards for crypto purchases.
Can I buy crypto with IBAN?
Yes, you can buy crypto with IBAN by sending money from your bank account to a crypto exchange that supports IBAN transfers such as Coinbase, Relai, Ibandirec, Binance, Pocket Bitcoin, and Kraken.
Can I buy bitcoin with a bank transfer in UK?
Yes, you can buy Bitcoin with a bank transfer in the UK using crypto exchanges such as: Bitcoin UK, Bit2Me, Coinmama, and Paybis.