How To Buy Bitcoin With A Bank Account; Best Fiat-To-Crypto Exchanges

Sujit  |  Apr 25, 2020

If you are a beginner, you might find buying Bitcoin with Bank account the easiest option among all. Well, it is the easiest option, however, you might have to wait a little longer than usual to get your fiat currency deposit into the exchange’s account. In this article, we are going to help you find out the best exchanges that provide you with the option to buy Bitcoin with a Bank account in your country. Whether you want to know how to buy Bitcoin with a Bank account in India or wondering if you can buy Bitcoin with a bank account with no verification, read this guide to get all your answers.

Let’s start with the best exchanges that provide the option to buy Bitcoin with a Bank account.

Best Exchanges To Buy Bitcoin With Bank Account

Now that you are looking for exchanges with crypto-to-fiat services, there are a couple of things you need to keep in mind. What comes in your mind first when we say best crypto exchange? How you will know which exchange is good and which one is not? To know that you’ll have to do some research regarding each exchange and compare their features that include their fee structure, reputation, security, reputation, interface, trading tools, cryptocurrencies, payment options and countries supported. Among all this, security and reputation of the company must be your priority and then you can compare all other features for different exchanges. Our list of best crypto to fiat exchanges is made all these aspects in mind.

Coinbase

 

Coinbase

 

The reason we’ve put Coinbase above on the list is that it’s recommended for beginners. The exchange has an easy to use interface and is well-reputable and secure exchange. Well, by secure we mean as secure as any exchange can be. This doesn’t certainly mean that you can be carefree and not follow the rules. No matter how secure any exchange is, you should always set up 2FA security, store your cryptocurrencies in a private wallet and follow the terms of exchange.

Another thing that you might like about this exchange is that it lets you buy bitcoin with a bank account in the USA. there are other exchanges out there that provide you with the same ability but do not serve in the US due to regulatory issues. So, if you are a citizen of the USA and looking to Buy Bitcoin with bank transfer, then this one is for you. Don’t worry about charges as well because the Coinbase fee structure is pretty decent. You can also buy Bitcoin with ACH instantly and get the cryptocurrencies transferred in your wallet within a couple of days.

CEX.IO

 

CEX.IO

 

When it’s about best fiat to crypto exchanges, we can’t finish without taking the name of CEX exchange. Well, certainly there are other exchanges like Binance but as today we are talking about the exchanges that offer fiat deposits unluckily we can’t take their names. Binance is a crypto-to-crypto exchange which doesn’t provide the option to buy Bitcoin with Bank account.

Coming back to CEX.IO, it is a perfect exchange for those who are just starting with crypto trading. The platform lets you buy Bitcoin with a bank account in the UK, that means you can deposit various currencies like GBP, EUR, USD as well as RUB for crypto trading. Although, you would have to go through an ID verification process to trade on the exchange. As long as fee structure is concerned, it’s a little more than other crypto exchange but totally worth it. They follow maker and take fee schedule, so the more you’ll trade the less you would have to pay.

WazirX

 

WazirX

 

This one for those who want to know how to buy bitcoin with a bank account in India. However, WazirX doesn’t provide the direct option to buy Bitcoin using your fiat currency. Its P2P platform lets you buy USDT using Indian rupees and then you can exchange USDT on the WazirX platform for Bitcoin. Sounds like a little work but after all, it would be worth. If you want to sell out your Bitcoins for cash, you can follow the same procedure. Sell your Bitcoins and altcoins for USDT and then sell it for cash on WazirX p2p platform.

Recently, WazirX has announced its partnership with the leading cryptocurrency exchange Binance. So if you ask, is WazirX secure, we will say, hell yes.

LocalBitcoins

 

LocalBitcoins

 

Unlike other regulatory crypto-to-fiat exchanges, LocalBitcoins is a Peer to peer exchange. The platform lets you connect to the buyers and sellers directly and trade with them. LocalBitcoins serves all over the world and supports almost all payment methods. You can put the buy and sell ad on the platform and the interested users will reach you for the same.

Although, while trading on P2P platform you need to be aware of frauds and must follow proper security guidelines. The best part about LocalBitcoins is that it lets you buy Bitcoin with a bank account instantly with no verification. However, if you want you can also choose to complete KYC Requirements, after all, it’s for your own security. Whether you are a buyer or seller, you’ll be charged 1% fee on your trade.

How to Buy Bitcoin With A Bank Account?

Now if you are still worried about how to buy Bitcoin with a bank account, we suggest you go and get yourself registered on any of the exchanges mentioned above. If you need help regarding the procedure about how to make trades, deposits and withdrawals, you should read our specific guides about the concerned topics. For now, just remember this:

  1. The first step, you need to sign up on a crypto exchange.
  2. Secondly, complete AML/KYC regulations and enable 2FA security.
  3. Deposit the supported fiat currency into the account using any payment method you like, Bank transfer, credit/debit card etc.
  4. Choose the crypto you want to buy and place your order.
  5. Transfer your cryptocurrencies to a private wallet.
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