Buy cryptocurrencies with bank transfer
There is on doubt about it, bank transfer is one of the cheapest ways to buy cryptocurrencies. Most crypto exchanges charge very little or no fee at all, when transferring your FIAT with a bank transfer.
Exchanges with bank transfers deposits
| Name | Region | Fees SEPA / SWIFT, ACH and Wire | Buy |
|---|---|---|---|
| Bitpanda | Europe | Free | Buy |
| Coinbase | Australia, Europe, UK and US | Free / $10 | Buy |
| Coinmama | Africa, Asia, Australia, Europe, South America, UK and US |
0% / 20£- 0 above £1000 | Buy |
The list above shows a selection of crypto exchanges that offer purchase of bitcoin and other cryptocurrencies with bank transfers.
The downside of bank transfers
The main pain point when making a bank transfers is the waiting time. It usually takes banks 3-5 business days to process your transaction. So if you want to buy bitcoin or other cryptocurrencies as quick as possible then other payment options like credit card would be more ideal.
Be aware that your bank might also charge a fee when transferring money from your bank account to the crypto exchanges bank account - but this is very normal. Thats how the banks earn their money.
Buying crypto with bank transfer on Bitpanda
Bitpanda (review) is a European exchange and therefore they also have SEPA which is the equivalent to bank transfer for the European union. Bitpanda is a very reliable exchange and it is under European regulation.
Setting up a SEPA transaction on the Bitpanda Platform
- You type in how much you want to deposit
- Not down the bank details of Bitpanda - Super important to remember you reference so that Bitpanda can see that the money come from you.
- Go to you internet bank and transfer the money.
- Wait 1-3 business days and your money should be on your account.