Since cryptocurrencies like Ethereum and Litecoin have dominated the news in recent years, it should come as no surprise that purchasing Bitcoin using a bank account or bank transfer is simple. One bitcoin was worth around $300 in 2015. It topped $67,000 in November 2021, marking its highest point ever. Over 18,000% in return, which is much better than the 1% a high-yield CD will provide you! Regarding Bitcoin, there is a lot to learn. It might be very profitable for you, but it can also be quite costly for you. Bitcoin has had a difficult year, dropping to roughly $21,000. It may be a great investment, which is why it has grown to be such a popular item. Here are 5 ways you can buy Bitcoin through a bank account.
1. Global cryptocurrency exchange Bitstamp operates in the US, the UK, and Luxembourg. With an Android and iOS app, the platform provides a user-friendly, dependable interface for buying and selling Bitcoin on the move. Following your trading volume over 30 days, Bitstamp offers a tiered trading charge. If your trading volume is under $10,000, you may anticipate paying 0.50% of that amount. The cost that you’ll have to pay decreases as you trade more. You have the option of ACH or wire transfers if you want to fund your account using your bank account. ACH deposits and withdrawals are cost-free, however, wire deposits and withdrawals are subject to a 0.05% and 0.1% fee, respectively. Also applicable are minimum fees, which are set at $7.50 and $25, respectively.
2. Through the cryptocurrency exchange Coinmama, you may convert between dollars and bitcoins. You must first sign up for a Coinmama account. After that, you must link your wallet and get validated before purchasing bitcoins. Once everything is set up, you may start a bank transfer to buy bitcoins using your bank account. You may get all instructions through your Coinmama profile. You will have to select a SWIFT transfer and pay in GBP (Great Britain Pound), thus there may be exchange fees involved. Depending on the current exchange rate, Coinmama will charge you the equivalent of £20 for transfers of less than $1,000.
3. The Bitcoin exchange CEX provides several services all under one roof. You may make deposits in USD without having to pay any exchange commissions. Using a SWIFT bank transfer, you may send money straight from your bank account to your CEX account. The minimum deposit amount is $300, and the maximum deposit amount is determined by your user account. A charge of 0.3% of the amount you want to transfer plus $25 applies if you want to withdraw money back to your bank account. Additionally, there are charges for adding and taking out cryptocurrency. On the business’ website, you may get the full cost structure. Additionally, CEX enables you to utilize your wallet’s bitcoins as security for loans. Loan terms can be as short as seven days and as long as a year.
4. A website called Coinbase seeks to make buying and selling Bitcoin simple and available to everyone. They have more than 43 million verified users and are present in more than 100 countries. Additionally, Coinbase is now conducting a competition where you may win $34 worth of Bitcoin while learning about various crypto-related topics. Bank accounts are one of the several payment options accepted by the site. Here, you may deposit, purchase, sell, and withdraw money as well as send money via ACH. The transactions may take up to 5 business days to complete. Your bank account may be immediately linked to your Coinbase account, making money transfers simple. All you have to do is go to your Coinbase profile’s Payment Methods page and follow the instructions there.
5. A bitcoin and other cryptocurrency exchange is Kraken. Using Fed’Wire or SWIFT (wire transfer), you may fund your account straight from your bank account. The minimum deposit amount can be anything between $1 and $150, and deposit fees can be anything between $0 and $10. It may take up to 5 business days to process an order. Even if you’re a total newbie, the website has a wealth of materials to get you started in Bitcoin trading. To buy and trade bitcoin while on the go, you may also immediately download the Android or iOS app from the relevant store.
