You can buy crypto with a bank transfer by following a few steps. First, you should have an account with an exchange and there should be some balance in it. You could have either a business account or an individual account. Read more
Choosing account type
Irrespective of the account type, you will have access to all the available products and services, but there will be some differences in the deposit and withdrawal limits. You could be a business owner who wishes to trade large volumes, thus a business account will suit your needs better. Typically, there is a corporate verification for companies and therefore, you can use your company funds to earn more with cryptocurrency.
However, if you do not intend to spend more than 10,000 USD per day, you can consider an individual account. In order to purchase Bitcoin with your bank account, you need to submit some basic personal details like name, date of birth, and place of residence. You can start trading as soon as the verification is complete and your account has enough funds. For individual accounts, there is no verification of the source of funds.
Top up your account
It is best to know the conditions and fees that may be involved for deposits. A wise call would be to become aware of these before you start a bank deposit. Keep track of the countries where the use of instruments is allowed.
International transfer
Provide the bank recipient’s details like name, address, and IBAN to carry out an international transfer. Add the amount you wish to transfer, select the country and click on ‘proceed’. Share the receipt with your bank officer or make use of it for online banking. You should not miss adding your order number which is a unique reference.
Domestic transfer
Domestic transfers operate in a limited area. If you reside in an area where domestic transfers can be done and you have a bank account, buying Ether or Bitcoin should not be a problem. What you will have to do us:
- Go to the deposit page
- Select the method available for your country
- Choose the amount you want to receive
- Tap on Proceed and you’ll have the receipt
This information will be handy when you want to withdraw from your bank. It can be done through online banking or manually via a bank official. Note that domestic transfers may reach your account in a day and you can use them to buy crypto.
Instant buy
Buying crypto is a matter of a few minutes. You can do it in just some clicks:
Step 1: Choose a cryptocurrency to buy
As you go to the Buy or Sell page, BTC will be shown as the default ‘buy’ currency. You may even buy Litecoin (LTC), Tether (USDT), Tron (TRX) or any other cryptocurrency that your exchange offers.
Step 2: Choose how much to buy
You can choose the amount you want to buy or opt for a pre-calculated pack that some exchanges support. They show the price and amount for every cryptocurrency in these packs. Whatever you opt for, ensure that it meets the minimum purchase requirement.
Step 3: Payment method
Use your credit or debit card to purchase crypto tokens. In case you have transferred funds to your account, you may buy using your account balance as well.
