How to Buy Bitcoins with a Bank Account

Buying Bitcoins with a bank wire is probably the best way to go in order to get the cheapest exchange rate possible. Depending on where you live in the world there are different exchanges that will be best suited for you. In this post we will cover the main reputable exchanges that supply bank wire services.

How to Buy Bitcoins with a Bank Account

Here’s what I’ll cover:

  2. eToro
  3. Coinbase
  4. Bitpanda
  5. Kraken
  6. Conclusion

1. Buy Bitcoins with your bank account through

Pros: Multiple payment options, no deposit fees, wide selection of cryptocurrencies

Cons: Relatively high fees on brokerage service (can be avoided by using the trading platform) is a multinational Bitcoin exchange established in 2013 and located in London, U.K. was started as a cloud mining provider but later shut down mining services and is currently operating as a cryptocurrency exchange platform that enables trading several cryptocurrencies and such fiat money as USD, EUR, GBP and RUB. is registered in the United States Financial Crimes Enforcement Network as a money service business. requires verification of all users due to Know Your Customer and Anti-Money Laundering policies. These measures, high levels of security, due diligence of users and transaction data helped to receive the second level certificate of the Payment Card Industry Security Standard.

This certificate confirms that has a secure network, strong access control measures, a regularly monitored system and a maintained information security policy.

2. Buy Bitcoins with Your Bank Account Through eToro

Pros: Intuitive interface for beginners, low fees

Cons: Not available worldwide, mainly suited for price speculation

Developer of social trading and investing platform designed to open the global markets for everyone to trade and invest in a simple and transparent way. The company’s social trading and the investing platform allows investors to manually invest in instruments across six different asset classes and automatically copy the trades of other traders on the platform and access investment portfolios, enabling clients to connect people with expertise in everything from investing in traditional asset classes to cryptocurrencies.

75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. CFDs are not offered to US users. Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

3. Buy Bitcoins with your bank account through Coinbase

Pros: Fast transfers within the US and EU, low fees

Cons: Slow support, Not available worldwide

Coinbase is a digital currency broker exchange where you can buy and trade Bitcoin and a few other cryptos. It is different from traditional cryptocurrency exchanges because it allows you to buy crypto using fiat currencies.

Coinbase is considered one of the biggest crypto-broker exchanges in the world!

Coinbase is considered one of the biggest crypto-broker exchanges in the world!

They hold over $20 billion in assets and over $50 billion in crypto has been traded using its platform since it was founded in San Francisco, California in 2012.

Coinbase actually has two core products; a broker exchange and a professional trading platform named GDAX. However, the two can be used independently from one another.

With over 13.3M active users, there are few exchanges that are as trusted and reliable as Coinbase. If you want to buy cryptocurrencies with your fiat money (USD, EUR, etc.), Coinbase may be the exchange for you.

4. Buy Bitcoins with your bank account through Bitpanda

Pros: Multiple payment options, intuitive interface, relatively low fees

Cons: Not available worldwide, fees “hidden” inside the exchange rate

As a cryptocurrency exchange, BitPanda was not directly regulated for many years. This has all started to change recently both with the addition of more financial services within the company, to an increasingly regulated mindset being adopted within the sector. BitPanda is now regulated in France by the AMF regulatory body.

This is a very positive move for an already well-respected and trustworthy EU-based service as BitPanda is. Their willingness to be subjected to regulations in France where KYC checks and compliance monitoring are known to be stringent helps demonstrate the seriousness with which BitPanda considers your security as a trader.

Internally, the company also follows all the required regulations when it comes to AML and KYC checking while trying to keep the registration process as fast and efficient as possible. Their website provides a very secure environment where the latest encryption technology is in place to keep all of your trades safe and secure.

BitPanda has also always retained an excellent standing within the community of traders for being secure, easy to deal with, and very transparent in the manner in which they operate including their fees and charges.

5. Buy Bitcoins with your bank account through Kraken

Pros: Reputable exchange, low deposit and trading fees

Cons: No brokerage service, limited options for bank account transfer, historically a lot of reported downtime

Kraken is a cryptocurrency exchange. It was founded in July 2011 and is based in San Francisco, CA. It is one of the largest and oldest exchanges. Its founder is Jesse Powell. The company has raised $118 million in seed funding.

Kraken allows you to exchange fiat currencies such as USD, Canadian Dollar, Euro, and GBP into cryptocurrency. You can also exchange from one cryptocurrency into another. There are over 50 cryptocurrencies available on Kraken for buying via fiat currency or exchanging.

There are over 50 cryptocurrencies available on Kraken for buying via fiat currency or exchanging.

Kraken seems to check all the necessary boxes for a reliable and secure crypto exchange. It is based in the U.S. and has never been hacked. Kraken allows you to trade directly from fiat currency to crypto. 


If you’re thinking about buying large amounts of Bitcoin or don’t have any access to credit cards you should probably use one of the methods above. Keep in mind that some banks may require additional info about the nature of the transaction and may also collect additional fees for the transfer itself.

In my opinion, if the purchase amount isn’t large, you’re better off using your credit card. It will cost a little more but the coins will arrive quicker and there will be much less hassle in the buying process.

Wire transfers are cheaper but slower