How to buy Bitcoin (BTC) with a bank transfer from the USA

By   |   Verified by Andrew Boyd   |   Updated Oct. 18, 2023

A bank transfer is one of the most hassle-free and inexpensive ways to buy Bitcoin. There are many brokers that accept funds via bank transfers.

Scroll down for our step-by-step guide to buying Bitcoin with a bank transfer in the US.

Unsure about what exchange to use?

Where to buy Bitcoin with a bank transfer

eToro Crypto

On website

eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation.

eToro Crypto


  • Trade and stake a range of crypto assets with low fees.
  • Copy successful traders. Practice with a demo account.
  • eToro is regulated by CySec, FCA and ASIC.

Disclaimer: Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MS


  • The user-friendly website and app make it easy to trade from anywhere.
  • Trade Bitcoin, Ethereum, and 60+ other crypto assets.
  • With its CopyTrader feature, you can replicate the moves of other investors.
  • Start trading with just $10.


  • There is a 1% fee that is added to the market price.
  • Other exchanges have more selections of crypto coins and tokens.

On website

Finty may be compensated when you click on the link.


  • Get $5 in Bitcoin after your first trade on Coinbase.
  • Buy and sell popular digital currencies, keep track of them in the one place.
  • Invest in cryptocurrency slowly over time by scheduling buys daily, weekly, or monthly.
  • Maintains crypto-insurance and all USD cash balances are covered by FDIC insurance, up to a maximum of $250,000.


  • Get access to a wide variety of altcoins.
  • Start trading with as little as $2.
  • Offers Coinbase card which allows you to spend crypto anywhere.


  • Fees are higher compared to other exchanges.
Gemini Exchange

Gemini Exchange


  • Gemini Exchange makes it simple to research the crypto market, buy bitcoin and other cryptos, and build a portfolio for the future of money.
  • Set recurring buys and dynamic price alerts.
  • All crypto held online in Gemini's exchange wallet is insured and it uses the best-in-industry cold storage coverage with leading insurance providers.


  • Suitable for both beginner and advanced traders.
  • Supports multiple fiats and cryptocurrencies.
  • You can earn interest on your cryptocurrency balances.
  • Its mobile apps are highly rated.


  • The fee structure can be expensive for both small trades and higher volume trades.

First time buying?

How to buy Bitcoin with a bank transfer

Step 1: Choose what exchange to use

The first step is to open an account with an exchange that supports Bitcoin and accepts deposits via a bank transfer.

It’s easy to compare crypto exchanges with Finty. Things to consider include their fees to trade, deposit and withdraw fiat, and available coins.

Step 2: Verify your account

Once you have completed your account setup, you’ll need to verify your identity. This typically requires proof of identification, such as a driver’s license.

Step 3: Decide how much to allocate

Bitcoin is a volatile asset that is notoriously difficult to forecast, oscillating from bull runs to bear markets.

It’s important to keep this volatility in mind and only allocate what you can realistically afford to an investment in Bitcoin.

Step 4: Deposit funds in your account

Bank transfers are one of the most widely-supported methods of depositing funds in your account. Be careful when setting up the transfer so the funds are sent to the correct account.

Step 5: Configure an order

After transferring funds to your account, you can configure an order to buy Bitcoin.

Most crypto exchanges offer a choice of orders. Market buys are the easiest way to buy Bitcoin. They require very little, if any, configuration. Once submitted, your exchange will buy at the next available price.

You can set up a trigger order to buy Bitcoin at a target price or, alternatively, set up a recurring order to buy more Bitcoin on a regular basis. You’ll need to make sure you have adequate account funds to execute this strategy.

Step 6: Buy

With everything completed, fill out the order form and buy Bitcoin.

Still not sure?

Pros and cons

  • Low deposit fees. Fees charged by exchanges to deposit funds with a bank transfer are significantly lower than they would be to do so with a credit card.
  • Widely supported. Bank transfers are supported by practically every crypto exchange.
  • No interest. Unlike credit card payments, bank transfers are drawn from funds you already have, so you are less likely to get into debt.
  • Multiple options. Various types of bank transfers are available including ACH and SWIFT.
  • May have a longer processing time. Bank transfers can take several days to clear into your account.

Extra help


How long does it take for funds to transfer using a bank transfer?

It can take several days for funds to clear into your exchange account depending on the type of bank transfer used.

Can I buy Bitcoin with a bank transfer anonymously?

Yes, you can purchase bitcoins with a bank transfer anonymously on some platforms.

Can I buy other cryptocurrencies with a bank transfer?

Yes, you can buy other cryptocurrencies with a bank transfer. After funding your account, select the desired cryptocurrency and execute the transaction.