Why you should buy crypto with Bank transfer

Quick

When using a Bank transfer account to receive funds, most transactions take only a few minutes to deposit the funds.

Safe

Both buyers and sellers can feel at ease using Bank transfer. As long as the network you're using is hack-proof, all information sent between your device and Bank transfer's servers is secure and encrypted.

Support

Email, live chat, call center, social media support, forum support, and self-service support are all available from Bank transfer customer service team.

Privacy

Bank transfer protects your bank or credit card information by encrypting it.

Why is Bank transfer an excellent way to buy crypto

Bank transfer is a well-known service that allows users worldwide to make transactions using their bank account or credit card information without disclosing personal information like their name or address.

Thanks to this, anyone who has access to an online payment system like Bank transfer can purchase Bitcoin anonymously. It also adds security because sensitive financial information is not required.

Buying crypto with Bank transfer: Step-by-step guide

1. First, you'll need a Bank transfer account. If you don't already have one, go to their website and setup one with your credit card or bank account and an email address.
2. Go to the home screen (the "Payments" screen in the app) and select the "Purchase Bitcoin and more" banner near the top of the page to purchase some BTC on the Bank transfer website.
3. On the Bank transfer app, choose the cryptocurrency you wish to obtain.
4. Furthermore, Bank transfer has provided resources for learning about cryptocurrency and a list of the associated risks.
5. To complete your purchase, you'll need available funds, a linked debit card, or a linked bank account. It is possible to spend as little as $1 per week or as much as $100,000. Like many other cryptocurrency exchanges, Bank transfer charges fees to obtain and sell cryptocurrency, depending on the amount purchased.
6. Below the purchase option on Bank transfer, you'll find a brief description of the asset you're purchasing. Before moving forward, you must confirm some information and agree to Bank transfer Terms and Conditions.
7. To buy Bitcoin, enter your desired amount. The Bitcoin price fluctuates depending on when you purchase it. The exchange rate includes a spread until you buy or sell, and it refreshes frequently. Select “Next” to move on to the next screen.
8. The bank account or credit/debit card connected to your Bank transfer account appears. You can also add more cards or bank accounts at this time.
9. The account will be updated after the purchase to reflect the amount of cryptocurrency purchased and its current value.
10. Move back to the home page and look under "Crypto" for your Bitcoin purchase, which you can obtain and sell.

Where can you buy crypto with Bank transfer online?

Buying crypto with Bank transfer using Coinbase

Coinbase, a cryptocurrency platform, announced in April 2021 that customers in the United States of America would buy cryptocurrency with Bank transfer-linked cards. To use the feature, log in to Coinbase, choose the cryptocurrency you want to obtain, tap "add payment option" in the Coinbase app and choose Bank transfer. You can link a debit card or a bank account to your Bank transfer account once you've logged in.

Buying crypto with Bank transfer using eToro

eToro is one of the few platforms that integrate various payment processors, making it simple to trade Bitcoin using Bank transfer.

To obtain Bitcoin on eToro with Bank transfer, log into your account, click "Deposit Funds," choose "Bank transfer" as your preferred payment method, and enter an amount. Once your funds have been deposited, you can purchase Bitcoin.

Buying crypto with Bank transfer using Xcoins

Xcoins is an exchange that focuses on linking lenders to buyers. First, the buyer visits the website to "lend" some Bitcoin. Then, following a quick ID verification process, you will be asked to deposit the USD equivalent of the amount you wish to borrow and Bank transfer processing fees and a fixed amount that will function as the loan's interest rate.

Buying crypto with Bank transfer using Paxful

On Paxful's peer-to-peer marketplace, you can now buy Bitcoin with Bank transfer instantly. The process of purchasing Bitcoin on Paxful is quite simple. First and foremost, the buyer should create an account.

Select Bank transfer as a method of payment and the amount you want to spend. Select a vendor that sells Bitcoin using Bank transfer. You can select the best trader for you manually, or Paxful can do it for you.

You'll be directed to an online chat with the seller once the trade has commenced, where you can complete the transaction. The seller's Bitcoin will be placed in escrow, and they will be released into your account once you've marked that you've sent your payment.

Buying crypto with Bank transfer using Local Bitcoin

You can obtain Bitcoin by directly connecting with other sellers.

Every seller on Local Bitcoin sets their exchange rate and payment method, and you can look for those who accept Bank transfer.

1. First, visit the website and set up an account.
2. Once you are signed in, visit the main page to browse advertisements. Choose the amount you want to purchase, set your location, and choose Bank transfer as your payment method in the search box. A list of people who accept the Bank transfer method will show up with the number of coins you want to buy.
3. Choose a buyer based on the number of trades, reputation, and response time from the list.
4. Click "purchase" to proceed with the trade. The process will take you to a page with the transaction details.
5. Send a message to the seller, click the button to accept the terms, and send a trade request if you agree.

Until your payment is confirmed, your Bitcoin will be held in escrow. After making your payment, click the "I've Paid" button. Your Bitcoin will then be released from escrow and delivered to your wallet.

Alternatives ways to buy Bitcoin

Сurrency ATMs

These work similarly to regular ATMs, except that you can use them to obtain and sell Bitcoin.

Exchange-traded funds

ProShares, a financial firm, launched the first Bitcoin ETF in October 2021. However, the fund (ticker: BITO) does not invest directly in Bitcoin; instead, it invests in Bitcoin futures contracts.

Peer-to-peer Bitcoin owners

Peer-to-peer tools like Bisq, and Bitquick allow you to purchase Bitcoin directly from other Bitcoin owners, similar to how you would buy items on Craigslist. When purchasing Bitcoin from individuals, proceed with extreme caution.

FAQ

Can I buy crypto with Bank transfer with no ID?

Yes, you can do the deal if you find a private trade partner who accepts Bank transfer without requiring you to show your ID.

Is Bank transfer good for buying crypto?

Anyone with a Bank transfer account can purchase, sell, and hold cryptocurrency. You can also use crypto at checkout for select purchases, but it's generally a bad idea to use any cryptocurrency as a form of payment. Instead, experts advise obtaining and holding crypto for the long term, just like other long-term investments.

Can you withdraw crypto from Bank transfer

Users can now withdraw cryptocurrencies to third-party wallets through Bank transfer Holdings.

How much does it cost to buy crypto on Bank transfer

Commence with little purchases if you're new to buying and selling cryptocurrency. With Bank transfer, you can purchase Bitcoin and other cryptocurrencies safely for as little as $1. Furthermore, because the crypto market is open 24 hours a day, you can buy or sell at any time.