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How to Buy Bitcoin with Bank Account

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:

  • Coinbase
  • BitPanda
  • GDAX
  • CEX.io
  • Gemini

Coinbase:

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:

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:

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.

CEX.io:

Similar to GADX, CEX also provides its US users with ACH transfer option while those living in Europe and the UK the SEPA transfer.

CEX.io Pros:

  • Available in several countries
  • The trading fee is extremely low. 0.2% to be precise
  • Trustworthy bitcoins broker

CEX.io Cons:

  • The verification process requires you to provide personal information, along with a photo. The whole process may take a while to complete.
  • Lacks liquidity

Gemini:

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.

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How to Buy Bitcoins Instantly – The Secrets Unlocked

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For new users, buying Bitcoin could be a little difficult. Especially, when the situation calls them to buy it instantly since the procedure is quite tricky. If you are one of the new users and looking for information on how to buy Bitcoin instantly, this is the perfect place to be.

Buying Bitcoin – The First Step:

The first and foremost thing needed is a Bitcoin wallet as it is used to store digital coins. The wallet works the same way as a bank account – it authorizes you to hold your Bitcoins safely and lets you send and receive the cryptocurrency.

Getting wallet is pretty simple. All you need is getting in touch with a Bitcoin wallet supplier and provide them with your email address. Once they have your email, it’s just a matter of few minutes before you eventually receive your wallet.

After getting your wallet, choose one of following three ways for an instant purchase.

Buying BTC Over the Counter/Face to Face:

The most effortless choice, especially if you live in a big city and don’t want to give away your identity.

There are various websites/p2p commercial centers on the web to help you make face to face trade with a native retailer.

In the event you choose to adopt this method, it is best to arrange a meetup in a busy, open place and play it safe at the time of the transaction. Also, keep in mind that you must have access to your wallet to ensure that the coins have been transferred to your Bitcoin address.

Buy BTC from an Exchange:

Bitcoin exchanges allow consumers to buy and sell Bitcoin. However, while dealing with such exchanges, remember that these exchanges and wallets do not work the same way as the banks.

Unlike traditional banks, these exchanges do not provide any protection to your record which could be an issue should you end up losing coins to hackers. So, make sure you have everything perfectly in shape – protecting your coins.

Buying BTC at ATMs:

You can also buy the bitcoin instantly with Bitcoin ATMs. The approach is similar to the one with face to face exchange, the only difference here is that people are interacting with a machine instead of a human being.

These ATMs require users to insert their money or MasterCard to complete the transfer of bitcoins to your wallet. Some latest models even permit you to withdraw money by sending bitcoins. However, the transaction rates of these ATMs are slightly higher than that of traditional exchanges – 3%-8% to be precise.

Conclusion:

These are some of the best ways to buy Bitcoin instantly. To conclude it all, first, you need a Bitcoin wallet to store coins. Then go to an exchange, get them through an ATM or go with face to face purchase as all these methods guarantee instant bitcoins.

Good luck with your first purchase.

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U.S. ICO Token Trading: 12-Month Freeze Is Just Going to Begin

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A statement was released by the chief legal and risk officer at Coinbase, Mike Lempres, which shows how the market is setting up for the US crypto innovators as regulatory improbability and months of vicious market growth seems to be coming to a head at last.

Confirmation By SEC

A rumour has been confirmed by SEC last week that it’s has started to investigate startups and companies related to ICOs (initial coin offerings). Entrepreneurs are conceding on the idea that new cryptocurrencies have initiated, however, U.S. companies that are still trying to issue tokens as securities might not have an easier time reaching buyers. Last week, at the MIT Bitcoin Expo, the issue was presented in a panel that hit a sour note on the ICO token trading.

ico token trading

End of Utility Tokens

Well, the chaos in the market shouldn’t be really surprising. The SEC’s order to shut down ICO called “Munchee,” was a huge shock for the market, as it landed like a bomb, back in December. For a while, it seemed like the companies there started to think that if utility tokens couldn’t be sold to the public, they could still be given away. But at the same time, this is a violation of SEC there. It was reported that the rule requires buyers to be accredited investors, which means they have a networth of at least $1 million or must’ve earned $200,000 for the last two years.

There’ve been many contributors in the market that never believed how unregistered tokens could work under the laws of SEC. But on the other hand, it’s quite hard to figure out how a product that creates a tokenized VPN operates if those tokens are securities.

Trading and Liquidity

In the US, the final issue for ICO project is liquidity, no matter even if an exchange goes live. However, the problem is that there’s no integrated place to trade tokens that are registered with the SEC. Even though it’s been highlighted by many founders, but still, this doesn’t mean that trading is not possible, however, it’s not simple at the same time.

According to the CEO and co-founder of Templum, Chris Pallotta, there’s a chance that he might open a platform in few months, but with maximum security tokens, as he stated;

“I think the timing will work out pretty nicely.”

At the same time, that’s also pretentious that there are no extra holdups, and if there’s anything shown by the ICO space, then that might be a big if.  So in short, it’s going to take some time for tokens to get created within such time, no matter even if the Templum goes live soon.

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REPORT: South Korea Is Considering to Reverse Ban on ICOs

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According to the latest report, in the coming months, ban on the ICOs (Initial Coin Offerings) by South Korea could be eased. In September, it was reported that the Financial Services Commission of the country had moved to ban the blockchain funding model. However, the latest report by the “Korea Times” claims that there’s a chance that the ban may get lifted, especially for token sales.

ICOs

From an anonymous source, it’s stated;

“The financial authorities have been talking to the country’s tax agency, justice ministry, and other relevant government offices about a plan to allow ICOs in Korea when certain conditions are met.”

Even with the local ban, a lot of cryptocurrency users in South Korea are still contributing to international ICOs. The official at the FSC (Financial Service Commission), that manages and supervises the cryptocurrency trading rules, Kang Young-soo, has denied to give any statement on ICOs and just said that third-party-view is being considered by FSC.

Moreover, Young-soo has also confirmed that the government is also looking forward to make a whole lot better infrastructure for regulating the trades of cryptocurrency and also to advance blockchain technologies. On the other hand, international cryptocurrency market is presenting new challenges for lawmakers as well.

At this time, there’s a ban on the overseas residents from trading cryptocurrency in South Korea. The main purpose of this ban is to curb money laundering and other cross-border crimes that might be possible. Meanwhile, it’s been reported that the officials of South Korea are having a word with counterparts in China and Japan, in order to discover regulatory collaboration, which at the same time, also means that any final regimes could be settled with those countries.

Right now, the biggest problem that the government is facing with cryptocurrencies is its inability to efficiently control taxes from cities that hold the currency. Though, countries like Japan have shown a way of managing it, by taking each ICO on a case by case method, while other countries like China have chosen a total ban. China is showing no sign of willingness to ease this ban on the ICOs (Initial Coin Offerings), as this is the country’s own ban, which was revealed in early September to South Korea’s announcement. When a ban on ICO was announced by South Korea, it was really discouraging, as this country is best known for accepting and implementing the latest technologies.

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Crypto as Global Payment — Twitter CEO Reiterates Robust Future on Bitcoin

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According to a Bloomberg report, CEO of Square Inc. and Twitter, Jack Dorsey, expressed sanguinity about the role of cryptocurrency in the future. Dorsey said:

“The internet deserves a native currency — it will have a native currency.”

On Wednesday, Dorsey shared the idea of cryptocurrency enthusiasts — at the Consensus conference and cited virtual currencies as the future of a legitimate way of global crypto payment. He also said, he doesn’t know whether it is going to be Bitcoin or any other cryptocurrency though he said:

crypto payment system

“I hope it will be.” He also added:

“This technology is a fundamental shift in our world and can have so many positive outcomes. We have to do the work to educate regulators and educate the SEC why this technology is important.”

Square Inc.

A developer of payment and financial services solution, Square, permitted traders to accept Bitcoin in 2014. It made the availability of Bitcoin trading for almost each and every user of its Cash App. Everyone at Square doesn’t share the same enthusiasm as Dorsey, though he said, it was quite combative to move in the company. He also added, there are still many discussions and arguments over this topic, but according to Dorsey, many of the board of directors of the company are also robust to the idea of cryptocurrencies — crypto payment system.

Square reported low profits at the beginning of May — in the first quarter for the trading of Bitcoin, which amounted to only $200,000. The trading of Bitcoin made a 5% revenue overall, which was almost $34.1 million, and $33.9 million has been spent by the company in order to purchase tokens.

The recent speech of Dorsey reiterates his previous comments that the leading cryptocurrency, Bitcoin, is going to become the single currency of the world within a decade.

He said:

“The world ultimately will have a single currency; the Internet will have a single currency. I personally believe that it will be Bitcoin.”

At this time, Bitcoin seems to be sluggish and inflated, which makes it even more hard to use as a medium of exchange. Future on Bitcoin — Dorsey also added:

“As more and more people have it, those things go away

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