Buy cryptocurrencies with bank transfer
There is on doubt about it, bank transfers are 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. They have higher limits than credit cards meaning that you are able to transfer larger amounts with the same verification level.
Benefits from using a bank transfer:
- Very low fees if not free
- Usually higher limits than credit cards
Points to consider before using a bank transfer:
- Usually transactions take 2-3 business days
- Your banks can charge you an additional fee
The downside of bank transfers
The main pain point when making a bank transfer is the waiting time. It usually takes banks 2-3 business days to process your transaction. So if you want to buy bitcoin or other cryptocurrencies as quickly 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.
Exchanges with bank transfers deposits
|Name||Region||Fees SEPA / SWIFT, ACH and Wire||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.
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 came from you.
- Go to your internet bank and transfer the money.
- Wait 1-3 business days and your money should be on your account.
Bitpanda is the leading crypto exchange in Europe with more than 1 million users. You can trade more than +30 cryptocurrencies, gold, silver and other metals.