HomeBitcoinHow to Buy Bitcoin in 2023How to Buy Bitcoin Online With Bank Transfer

How to Buy Bitcoin Online With Bank Transfer

Khashayar Abbasi
Khashayar Abbasi
24th Apr 2023

There are many ways to buy Bitcoin with fiat money, including e-wallets, credit cards, and more. Yet, some traders prefer using bank transfers, one of the oldest and most secure methods.

This guide highlights some of the top brokers that let you buy cryptocurrencies with a bank transfer. We’ll also go through the steps involved and discuss the various advantages and disadvantages of using this payment method to invest in Bitcoin.

Top Bitcoin Brokers That Accept Bank Transfer

Before we begin, it’s worth noting that several Bitcoin brokers accept payments via bank transfer. To narrow down your options to the best, we’ve listed our top picks below.

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What Is a Bank Transfer Bitcoin Broker?

Bank transfer is a payment method that includes using your bank to transfer money online. This method is often referred to as a wire or credit transfer. It involves transferring your funds from your bank account to the account of the broker of your choice.

A bank transfer bitcoin broker is a broker that allows you to buy Bitcoin with a bank transfer.

What Crypto Platforms Accept Bank Transfer?

To use bank transfer, you must visit a platform that accepts fiat money. That said, you’ll find plenty of crypto trading sites that only focus on crypto-to-crypto trading, meaning fiat payment methods are not available. These are decentralized exchanges in most cases.

In short, to accept a bank transfer, a trading site needs to be centralized. Many types of crypto trading sites use bank transfers, including various marketplaces, P2P lending platforms, online cryptocurrency exchanges, and more.

How to Buy Bitcoin with Bank Transfer?

If you have experience using bank transfer as a payment option online, you shouldn’t have any issues when buying Bitcoin. Here’s a quick overview.

Step 1: Select a crypto broker
Step 2: Register
Step 3: Deposit funds with bank transfer
Step 4: Buy BTC

How to Deposit and Withdraw via Bank Transfers?

As you can see, to start buying BTC, you first need to deposit funds into your account, and that’s where bank transfers come into play. Here’s how to make deposits and withdrawals using this payment method.


Depositing via a bank transfer is easy, but it’s not the fastest payment option out there. Depending on the bank you use, it sometimes takes more than a day to complete the transaction. In some cases, you might need to wait even longer.

Nonetheless, bank transfers are at the very least secure. So, take a look at the process of depositing through a bank transfer.


If you want to cash out your funds, you can do that on many platforms, provided that they also accept a bank transfer as a withdrawal option. Naturally, you cannot withdraw cryptocurrencies with a bank transfer, as banks only allow fiat money (at least for now). Therefore, you can use this method only if you wish to withdraw fiat money. Here’s how.

Step 1: Log in to your account
Step 2: Follow the relevant steps
Step 3: Enter the withdrawal amount
Step 4: Withdrawal confirmtion
You might have to enter your banking details, especially if you hadn’t used a bank transfer to deposit.

What Should I Look For in a Bank Transfer Bitcoin Broker?

There are certain considerations before you buy Bitcoin with fiat funds.

Fees: All brokers charge their services, but some of them are more expensive than others.

Limits: There are limits to how much you can deposit and withdraw using bank transfer, in addition to trading limits. All of those should be taken into account when selecting the right platform for you.

Speed: A bank transfer isn’t the fastest payment option out there, but you can minimize the time required to deposit by selecting a broker that offers instant transactions.

Security: Bank transfers are safe and secure, but you also need to make sure that the broker of your choice also has all the security protocols in place to maximize your protection.

User experience: Some crypto trading platforms are more convenient to use than others.

Should I Buy Bitcoin Using Bank Transfer

Bank transfers are used all around the globe. If you’re interested in using this payment method for Bitcoin brokers, make sure to check their primary advantages and disadvantages.

Pros & Cons

Direct bank payments — You’ll avoid using any kind of card or e-wallet and deposit your funds directly from your bank account.
Secure — Banks are still the most relevant institutions, and that’s why they pay special attention to making all transactions as secure as possible, so it’s safe to say that a bank transfer is one of the most secure payment options.
Easy to use — Using bank transfers to make transactions isn’t difficult, and you can master it after your first deposit.
Not available on some platforms — Some Bitcoin brokers don’t facilitate bank transfers. However, you shouldn’t have any issues finding one that does.
Slower than other payment options — Bank transfers can sometimes take up to a couple of business days before they arrive in your balance, unlike many other instant payment methods.
High fees in some cases — Sometimes, bank transfer can be costly, but that mainly depends on your location, bank, and several other factors, so you should check possible transaction fees before making one.

Is Using Bank Transfer the Best Method to Buy Bitcoin?

Bank transfers have their advantages, but they're not the fastest method.

What Are the Alternative Payment Method to Buy Bitcoin with?

Instead of using a bank transfer, you can always use some of the methods from the list below:

E-wallets: There are several great e-wallet options, with the most popular one being PayPal. They are fast, secure, and convenient. Moreover, they are accepted by many online crypto brokers.

Credit /debit cards: If you have a bank account, the chances are you already have a credit or debit card. Some of the most popular brands are Visa, Mastercard, American Express, and Discover.

Apple Pay: If you own an Apple device, you can set up its unique payment method, which offers fast and affordable transactions. Moreover, plenty of online brokers accept this method.

Final Thoughts

Bank transfers are relatively more secure compared to other payment methods, so while they might be slower, the chances of losing your money to cybercriminals are minimal.


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Author Bio
Khashayar Abbasi
Khashayar Abbasi
Khashayar discovered Bitcoin back in 2014 and has since spent countless hours researching the different use cases of cryptocurrencies. He has a bachelor's degree in International Relations and has been a writer in the financial services industry for nearly half a decade. In his spare time, Khashayar enjoys photography, cycling, and ice skating.