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How to Buy Bitcoin with eCheck

A step-by-step on how to buy Bitcoin with eCheck - a method commonly used to buy large amounts of the cryptocurrency - and where to find the best regulated platforms to purchase BTC via eCheck.
Buy Bitcoin with eCheck
Buy Bitcoin with eCheck

eCheck is among the most advantageous methods to buy Bitcoin in terms of costs and convenience. It’s also a preferred method to use if you want to purchase cryptocurrencies in larger amounts as there are very few limitations as in the case of credit and debit cards and other payment methods.

In this guide, we review the pros and cons of this payment method, list the best brokers to complete your bitcoin purchase via eCheck, and detail the process of buying Bitcoin with eCheck in screenshots.

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Contents [show]

    How to Buy Bitcoin with eCheck

    1. Choose a Bitcoin exchange – we recommend eToro as it’s FCA, ASIC and CySEC regulated
    2. Create an account
    3. Deposit funds into your account, selecting the bank transfer option
    4. Search ‘Bitcoin’ in the drop-down menu
    5. Click ‘Open Trade’ and select an amount of Bitcoin to buy

    Best Places to Buy Bitcoin with eCheck in January 2022

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    0.0303 BTC

    68% of retail CFD accounts lose money.

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    The one thing that usually makes eCheck payment methods less attractive is the long transaction time: it usually takes 2-8 working days to complete it, depending on the broker. 

    On the other hand, it has a great plus compared to other payment methods – with most brokers, there are no additional fees charged when you use this method, which makes it more cost-effective. Still, there may be some brokers and exchanges that apply similar costs for the eCheck as with the other payment methods, so you need also to check what fees are charged for this method. Considering this factor, we included in our list either the platforms that don’t charge any extra deposit or withdrawal fees with eCheck payments or the ones that apply very low fees compared to other methods of transfer. 

    Plus, we tried to select the brokers and crypto exchanges with a good reputation and robust regulations, so you will have a great user experience and your funds are safe. eToro, for instance, stands out with its amazing social trading platform. Paxful is a regulated peer-to-peer marketplace where you can get in touch and trade directly with the buy and seller. Coinbase has a simple-to-use platform and a wide selection of cryptocurrencies. boasts of its strong security systems, due to which no user has ever lost a single cent. 

    eToro – a Commission-free platform to Buy Bitcoin with eCheck

    eToro is a zero-commission brokerage platform that is very well-known among traders worldwide. It accepts customers from more than 150 countries worldwide and offers a unique user experience through a web-based trading platform and a mobile trading application. One of the fascinating tools that eToro offers is the CopyTrader tool that allows users to follow and mirror the traders of any expert trader on the platform they want. 

    Another great thing is that eToro does not charge any deposit fees for using a bank transfer method and takes a very low withdrawal fee of just $5. The only trading fee that the platform sets is the buy and sell spreads, which are pretty competitive in comparison to other brokers in the market. Finally, the platform is heavily regulated by the FCA, CySEC, ASIC, and FinCEN: so you can enjoy safe trading with eToro.

    Visit eToro

    CEX.IO – Buy Bitcoin with eCheck through a Regulated Exchange

    CEX.IO is one of the oldest cryptocurrency brokers that started in 2013 as an only bitcoin exchange, holding at some point 42% mining power of bitcoin. But the platform expanded the selection of assets and at the time of writing, it supports trading of around 200 crypto pairs. Along with the credit card option, Cex.IO offers SEPA money transfer for EU residents and also a wire transfer option. The platform does not take deposit fees for bank transfer options but takes relatively high withdrawal fees. A great advantage is that through an Enhanced Verification, you can buy and sell an unlimited number of cryptos with


    Coinbase – Buy BTC with eCheck Simply and Quickly

    Coinbase is among the most well-known cryptocurrency exchanges that support more than 50 crypto assets and a built-in digital wallet. The platform is especially popular due to its easy-to-use interface that allows users to buy bitcoin simply and quickly. One disadvantage, however, is that it charges a bit higher than average trading fees. Still, there are no extra fees for US users to deposit or withdraw funds through bank transfer, and these are very low for EU and UK users.

    As mentioned, Coinbase also offers its own crypto wallet, Trust wallet, where you can store your coins after completing the purchase. Finally, if you are keen to actively trade the crypto markets, Coinbase also provides a Coinbase Pro account with lower fees and more advanced tools. 

    Visit Coinbase

    Paxful – Buy Bitcoin with eCheck on a Regulated P2P Marketplace

    Another excellent platform to buy bitcoin with eChecks is Paxful, which one of the biggest peer-to-peer marketplaces where you buy and sell bitcoin without the involvement of any third party. The platform uses an escrow mechanism to protect its users and sellers from being cheated – a factor that makes Paxful a great platform if you wish to buy bitcoin anonymously or getting lower commissions. 

    Plus, it does not charge any trading fees when you buy bitcoin and takes only 1% of your cash when you sell it. One of the most convenient things about Paxful is that you can find hundreds of methods to transfer money, including obviously eChecks. There is also a possibility of buying a small amount of BTC without going through the verification process.

    Visit Paxful

    How to Buy Bitcoin with eCheck 

    In this section of our guide, we will show you the whole process of how to buy bitcoin with eCheck through our recommended broker, eToro. As we mentioned above, it is a heavily regulated platform that stands out with several features – an excellent user experience for beginners, social trading platform and tools, etc. And, most important of all – you can buy bitcoin with eCheck on eToro without paying any commission fees. 

    Open an Account

    Signing up for an online account on eToro is an effortless process. You simply need to visit its home page and click on the “Join Now” button to start the registration. When you create an account on eToro, you will see a “Complete Profile” button near your avatar. Then, you need to provide the necessary information to complete your registration process. 

    etoro registration

    Verify Your Account

    Next, the mandatory step is to start trading on eToro is to verify your identity. eToro is a regulated platform, so verification is especially crucial to protecting your safety and funds. Thus, to verify your account on eToro, you need to upload a copy of your passport or driver’s license as proof of identity and a bank document or utility bill as proof of your address. 

    eToro verification

    Deposit Funds via eCheck

    To deposit funds into your brokerage account, you need to click on the button “Deposit Funds,” which you will find on the lower-left corner of the platform. then, browse among the payment methods in order to find the Bank transfer option and click on it. After this, you need to click on “Continue” button to get the bank transfer details on your screen. 

    eToro eCheck

    The next step is to visit your bank’s website and make the transfer using the provided transaction ID and your username. Completing the transfer, you need to go back to eToro’s website and send the photo of the transaction check to its customer support service.

    Buy Bitcoin

    With eChecks, it usually takes some business days to deposit your cash on your brokerage account, but it’s one of the safest and most cost-effective ways. Meanwhile, take note that eToro offers a demo account that you can use to get familiar with the platform and its tools until your money is deposited. 

    Finally, when your account is charged with money, you can search for BTC and click on the “Trade” button. A window will appear where you need to fill in the amount you want to buy and complete the payment. 

    Buy Bitcoin eChecks

    What are eChecks?

    eChecks stands for electronic checks, being used to describe the digitized version of traditional paper checks. The process is almost the same as with the paper checks, but you can do this electronically more quickly and simply instead of manually filling out the check. To use eChecks, you use your bank’s routing number and your account number, which is later processed through the Automated Clearing House and transferred to the receiver’s account. 

    Compared to paper checks, eChecks make such transactions more straightforward and quicker. To complete the eCheck transfer, there are a few steps required. Firstly, if a receiver wants to accept electronic checks, it must have a registered ACH account. For this purpose, the payee is required to provide some information about the company, bank account, federal tax ID, etc. 

    The sender, in turn, must fill in the information found on the check, which usually includes the amount of money to be sent, routing number, and checking account number. After this, two parties must authorize the payment, which can be done through chat, phone call, or online. Finally, the transaction can be submitted; that is to say – it is automatically withdrawn from the sender’s account and deposited into the payee’s checking account. 

    Basically, such transactions are usually completed within 3-5 business days, which is a bit longer than in the case of bank cards, but pretty short when using traditional paper checks. However, compared to bank cards, eCheck fees are lower. Hence, it’s an excellent method when it comes to transferring a massive amount of money or buying high-cost items. Bitcoin itself can be considered a high-cost item, so, if you can buy one to two bitcoins using your bank cards or e-wallets, the eCheck option will allow you to get an unlimited number of bitcoins. 

    Another thing that makes eChecks convenient compared to paper checks is that eCheck has more security features. There are several authentication levels to ensure your funds will be transferred safely and without any fraud. These systems include authentication, public-key cryptography, digital signature, encryption that secret the sensitive data, etc. 

    In short, we can say that buying bitcoin with eCheck is pretty convenient for both beginners who cannot afford to pay extra fees applied for using bank card methods and for advanced traders who want to buy bitcoins in larger amounts. 

    Pros & Cons of Buying Bitcoin with eChecks 

    If you are still confused about whether you should be buying bitcoin with eCheck, below we have reviewed some of the advantages and disadvantages of using this payment method.


    • Fees: The best thing about using eCheck is that it’s cheaper than other payment methods. Brokers usually don’t take deposit fees for using this method, and if they do, it’s generally very low. 
    • Limits: Some brokerage platforms and crypto exchanges set limitations on how many bitcoins you can buy in a day, week, or month – even when you go through the verification process. However, with eChecks, you get the freedom to buy as many BTC as you can. 
    • Safety: Buying bitcoin with eChecks is also a very safe method, as long as the transactions occur through Secure Vault Payments (SVP) and strong data encryption protocols are applied to keep your data secure. 


    • Speed: Perhaps, the most significant disadvantage of using eChecks is the transaction time. In some cases, it may take up to 8 business days to complete your transaction.
    • Limits: From another point of view, no limitations on the amount of bitcoin you can buy can be a disadvantage (as well as an advantage). The problem is that you may give in to temptation and invest the money you will need after a short time.

    How to Withdraw Bitcoin Earnings from a Brokerage Account 

    After you get your bitcoins, you can then withdraw them from your account in two forms – as fiat currency or as BTC. If you buy bitcoin for trading purposes, you usually wait for the perfect moment when the prices are up and sell it to make a profit. You get the fiat instead, which you can withdraw using one of the withdrawal options the platform supports.

    However, if you make a long-term investment and don’t want to sell your bitcoin in a short time, you can withdraw it into a digital wallet where your coins are safe. In some cases, you may not be allowed to do this. For instance, when you buy it through CFDs, you don’t actually own BTC; hence you cannot withdraw it. Instead, you make a despot with eChecks with fiat money, speculate on the price of Bitcoin, and once you wish to withdraw your earnings, you simply your funds in the same coin you made the initial deposit.  

    To learn more about how to create your bitcoin account simply and quickly, visit our guide – Best Bitcoin Accounts.

    Data Processing and Privacy

    Trading bitcoin and other assets through online platforms involve higher risks not only in the sense of losing money if something goes wrong but also in terms of your safety. When you register on a brokerage platform, you provide a huge amount of data about yourself and your bank cards. 

    So, the crucial thing is to stay away from untrustworthy platforms that are not regulated or licensed and can use your information for other purposes. As long as your privacy and safety while trading is a top priority for us, we carefully examine if the trading platform is safe and reliable before including it in our recommendation list. 

    Buying Bitcoin with eChecks Anonymously

    To buy Bitcoin with eChecks anonymously, you need to find an exchange that allows you to use its platform without having to complete the verification process. Paxful is one such example where you can buy a limited amount of bitcoin without going through verification purposes. As long as purchasing bitcoin without verification is pretty risky, before getting to start, you need to consider the exchange’s previous experience with such transactions and the safety trading tools it provides to avoid scammers and fraudsters. 

    With all this being said, we should also note that though top brokers and exchanges require you to go through the verification process, they do this for your own safety and security. It means that they have a data privacy system that prohibits them from sharing or selling your personal information to any third party. Plus, some of these brokers are regulated by tier-1 financial institutions, which explains why verification is required.

    Take note, however, that once you withdraw your bitcoins from your brokerage account, your broker cannot follow how you will use them afterward. This is, in many ways, the true anonymity of using bitcoin and other altcoins. 

    Still, if you want to know more about buying bitcoin anonymously, visit our guide here

    How to Store Bitcoin on a Digital Wallet?

    Bitcoin Wallet to secure coins safelyPretty much similar to physical wallets, a Bitcoin wallet is used to store your digital currencies. But unlike the physical wallet, it allows you to send and receive BTCs from everywhere, and to send it to any place you want. Another difference is that instead of keeping your coins, it actually keeps the cryptographic information you need to use to access the part of the blockchain where your crypto is stored.

    Nonetheless, a Bitcoin Wallet is the safest way of storing your digital currencies as long as they are decentralized. Crypto wallets can be of different kinds and designed for various digital assets. To find out the best Bitcoin wallets and learn how to create your own bitcoin wallet, we suggest you visit our guide about The Best 5 Bitcoin Wallets. 

    Taxation on Bitcoin Earnings in the US 

    In 2014, the US Internal Revenue Service classified Bitcoin and other cryptocurrencies as property, thus applying taxes for digital assets. In essence, it means that every time you make an income from buying, selling, or mining BTC, you need to pay the appropriate taxes. It also refers to the Bitcoin you receive from your employer as a salary. However, you will be taxed differently depending on how you acquired your BTC and how long you have held it before selling. 

    For example, you will be taxed differently if your income is classified as long-term capital gain and short-term capital gain, which is decided considering how long you hold your BTC before selling it to gain profit. You can find more information about Bitcoin taxation on the IRS website. 

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    In a nutshell, buying bitcoin with eCheck is, in most cases, the most cost-effective payment method to purchase cryptocurrencies. Several top brokerage platforms and crypto exchanges accept this payment option. Plus, most of them don’t apply any additional deposit or withdrawal fees using this method while others apply low costs for it. 

    In any case, before you start, you first need to find a good brokerage platform to enjoy safe and effective trading. To save your time, we have already reviewed and prepared a list of the best brokers to buy bitcoin with eCheck. What you need to do is to select the one that best suits your needs, create an account, make a deposit using eChecks, and start trading Bitcoin. 


    Can I buy Bitcoin with an eCheck?

    Yes, several brokerage platforms allow you to buy Bitcoin using the bank transfer payment method. Before choosing a platform, you need to pay attention to its security systems, regulations, and fees.

    How can I buy Bitcoin with an eCheck?

    To get started, you need to choose a brokerage platform that operates in your country and accepts payments through eCheck. After selecting the platform, you need to sign up for an account, verify it, use the eCheck payment option to deposit funds, and buy bitcoin.

    What brokers accept eChecks as payments for buying Bitcoin?

    We have prepared a list of the best brokers that you can use to buy bitcoin with eCheck in the US. Our top recommended brokers, for this purpose, are eToro,, Coinbase, and Paxful. eToro is our most recommended broker to buy bitcoin with eCheck as long as it stands out with good regulatory systems, charges zero commissions, and has an excellent social trading platform.

    Is it safe to buy Bitcoin with an eCheck?

    eCheck is one of the safest methods of buying Bitcoin in the US. However, this still depends on the brokerage platform you use. Top brokers mostly use data encryption systems to protect your safety and keep away from fraudsters and data leakage. You can enjoy safe trading with eToro, as long as it is regulated by four top financial institutions, including FCA in the UK, FinCEN in the US, CySEC in Cyprus, and ASIC in Australia.

    What are the advantages of buying Bitcoin with an eCheck?

    The top three priorities of the eCheck method are safety, cost-effectiveness, and no limitations for buying bitcoin. Most brokers usually don't apply extra deposit fees when you make transactions through eCheck. Plus, there are not any strict limitations on the amount of Bitcoin you can buy through this method.

    How do eCheck payments work?

    eChecks work in a similar way to regular paper checks. You need to use your bank's routing number and your account number to create an eCheck. You later use this check to prove to your broker that you have conducted the transaction. eCheck transfers usually last 3-7 days, but they are the cheapest payment method and charge almost no or very low transaction fees.


    eToro - Best Trading Platform

    eToro - Best Trading Platform

    eToro - Best Trading Platform

    Buy Bitcoin

    68% of retail CFD accounts lose money.

    eToro - Best Trading Platform
    Buy Bitcoin

    68% of retail CFD accounts lose money.