Are you looking to buy bitcoin via bank transfer? Here is a list of companies that let you buy the cryptocurrency through these methods.
There are generally two transfer types – SEPA (Single Euro Payment Area) and ACH (Automated Clearinghouse).
As obvious from the names, SEPA transfer mode is for those living in European countries, while ACH is only for the US citizens.
The list of companies that provide these transfer options includes:
The largest Bitcoin broker in the world. The US citizens can buy bitcoins with a connected bank account via ACH bank transfer. On the other hand, those living in Europe are required to connect their bank accounts via SEPA transfer.
The coin delivery time of tow SEPA and ACH slightly differs from each other. ACH transfer takes 5 days while SEPA only 2 days to deliver the coins.
Coinbase charges a flat fee of 1.49% on all transactions.
Pros of Going to Coinbase To Buy Coins:
- High buying limits
- High liquidity
- Ease to understand process
- “Instant buy” option for credit/debit card users
Cons of Using Coinbase:
- Slow delivery. May take up to 5 days to complete
- Low privacy as it may track the record of bitcoin transactions you make
BitPanda only accepts Online, SEPA and SOFORT bank transfer. BitPanda is named amongst the most trustworthy bitcoin brokers and charge lower fees from credit/debit card users.
A downside of BitPanda is that the service charges are included in the bitcoin buying price and not mentioned on the site.
GDAX offers ACH transfer for US residents and SEPA for those living in EU and UK. It is one of the cheapest Bitcoin brokers out there and sometimes charges zero fees from Bitcoin buyers.
However, there are a couple of downsides of using GDAX, such as poor interface and closure of account in case the bitcoins are transferred to a legally suspicious site.
Similar to GADX, CEX also provides its US users with ACH transfer option while those living in Europe and the UK the SEPA transfer.
- Available in several countries
- The trading fee is extremely low. 0.2% to be precise
- Trustworthy bitcoins broker
- The verification process requires you to provide personal information, along with a photo. The whole process may take a while to complete.
- Lacks liquidity
Available only in the US. The citizens can buy coins through ACH transfer.
Pros of Gemini:
- Trusted brokers
- Through instant deposit, you can quickly buy the coins
- Lower fees
Cons of Using Gemini Services:
- Not available in all 50 states in the US
- Somewhat confusing to new users
These are some top Bitcoin exchanges for the US and European citizens. The list doesn’t end there. There are many more trusted brokers such as Coinfloor, Bittylicious, Confinity, etc.
Before making the purchase, dig more about these brokers and choose one that perfectly matches your requirements.