{"id":1911,"date":"2021-11-30T05:48:11","date_gmt":"2021-11-30T05:48:11","guid":{"rendered":"https:\/\/insidebitcoins.com\/uk\/?page_id=1911"},"modified":"2024-04-18T08:43:31","modified_gmt":"2024-04-18T08:43:31","slug":"bank-transfer","status":"publish","type":"page","link":"https:\/\/insidebitcoins.com\/uk\/buy-cryptocurrency\/buy-bitcoin\/bank-transfer\/","title":{"rendered":"Buy Bitcoin UK Bank Transfer – Full Guide"},"content":{"rendered":"
Bitcoin is the very first and highest valued digital currencies in the online cryptocurrency space, and over the last decade has taken the financial markets by storm, outperforming the S&P 500, Gold, Oil, and any other common investment option. It been especially profitable compared to open a savings account with a bank, which have seen interest rates decline in recent years to lower than the inflation rate.<\/span><\/p>\n It’s no surprise that many retail investors are looking to transfer some of the funds in their bank account to an exchange to buy Bitcoin<\/a>. Fortunately the best regulated cryptocurrency exchanges support this payment option. Deposits and withdrawals via bank transfer are instant, and incur less fees than using a debit or credit card. <\/span><\/p>\n[table_of_content]\n Based on our research, we consider eToro as the best broker to buy bitcoin via a bank transfer. In this section, we will detail step-by-step how to go through the deposit process with eToro.<\/span><\/p>\n To register on eToro, click the “Join Now” button on the eToro’s homepage. This will open you a registration window where you must fill in the necessary information, including your email, username and create a password. You also need to provide some personal details (name, surname, phone number, etc.) to complete the registration process. <\/span><\/p>\n <\/a><\/p>\n Once you have verified your account through your phone number and email, you need to complete the more complex verification process. The latter requires you to verify your address and identity. <\/span><\/p>\n To fund your account, you need to click on the “Deposit Funds” button at the bottom left of the platform. As a payment option, you must select a bank transfer in response to which you will get an email and a transaction ID, which you need to use to transfer money from your bank account. If you do everything correctly, as explained on <\/span>the eToro<\/a> website, <\/span>your account will be charged within 4-7 business days. <\/span><\/p>\n <\/a><\/p>\n Buy Bitcoin UK Bank Transfer Option on eToro<\/a><\/em><\/p>\n Now when you have a verified and funded account, you can start buying bitcoin. For this purpose, write down BTC on the search bar. Then click “Trade” at the top of the screen and insert the total amount you’d like to invest. Make sure to double-check everything before you finally press “Open Trade.” If you see the amount of BTC on your account, it means you have successfully completed the trade. <\/span><\/p>\n <\/a><\/p>\n In this section, we detail some of the advantages and disadvantages of buying bitcoin with a bank account. These factors will make it easier for you to decide if this payment option meets your needs or not. <\/span><\/p>\n Advantages<\/b><\/p>\n Disadvantages<\/b><\/p>\n When you register for an online account on a brokerage platform, in most cases, you need to create a personal account where your purchase is transferred. Sometimes crypto exchanges do not provide personal accounts and require that you transfer your coins to a digital bitcoin wallet. But you can create a personal account with most of the top brokers and even on the CFD trading platforms. <\/span><\/p>\n With so many brokers providing this service, you may be a bit confused about which one to choose. For more information about the best bitcoin accounts, visit our guide, where you will also learn <\/span>how to open your free BTC account.<\/span><\/a><\/p>\n Selecting an appropriate broker to buy bitcoin with a bank account is one of the essential factors in the whole process. A good broker will allow you to complete your transactions simply and quickly. Plus, it offers pretty competitive trading fees, which means less money on the extra costs and more profit. <\/span><\/p>\n However, with hundreds of cryptocurrency exchanges, it becomes difficult to find the best one. For this purpose, you need to check many of their features including pricing system, safety, regulations, etc. Still, this may take a world of time. We have good news for you – to ease the process, we have already researched and checked several crypto brokers and introduced below top brokers to buy bitcoin with a bank account.<\/span><\/p>\n <\/a>Our first go-to when it comes to buying Bitcoin with a Bank Account is eToro<\/a>. <\/span><\/p>\n Featuring the trust of more than 20 million users, eToro’s popularity stems from other pivotal factors on why users choose to use this platform from the many others, starting from the very fact that it charges no commissions for its transactions. What this practically translates to is that you can buy bitcoin with a bank account with no hidden charge or extra payment. <\/span><\/p>\n Another plus with eToro is when you buy Bitcoin via Bank Transfer, eToro gives you a wallet option where you can safely store your Bitcoin on a 24\/7 basis. eToro’s digital wallet can be downloaded from Apple Store or Google Play. <\/span><\/p>\n Visit eToro<\/strong><\/span><\/a>\n<\/p> Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.<\/em><\/p>\n OKX<\/a> is a cryptocurrency exchange with over 350 cryptocurrencies listed that you can buy using bank transfers. <\/a>However, trading crypto via the spot exchange is only possible using debit or credit cards. Buying Bitcoin using a bank transfer is possible in both standard trading and P2P trading facilities. <\/span><\/p>\n With P2P trading on OKX, users can “create their own marketplace” and trade crypto with others in their local currency. However, the number of cryptocurrencies available for trading this way is rather limited. At press time, only USDT, USDC, BTC, ETC, TUSD, and DAI are the cryptocurrencies that you can buy using P2P trading.<\/p>\n OKX offers both CEX and DEX to users – which is essential since the platform is not available in major regions like the USA. With OKX CEX, users can trade crypto via spot trading, margin trading, and derivates trading markets. They can also interact with the OKX Earn and make passive gains by holding cryptocurrencies.<\/p>\n With OKX DEX, users can swap cryptos on the platform.<\/p>\n Overall, OKX is a good place to buy Bitcoin<\/span> using bank transfer, for it is one of the 112 fiat methods to deposit funds on the platform. Other alternatives include UPI or EWallet because they are available on OKX.<\/p>\n Visit OKX<\/strong><\/span><\/a>\n<\/p> Launched in 2018, Bybit<\/a> is a cryptocurrency exchange known for providing inclusive ways to buy and sell crypto. It is possible to buy Bitcoin<\/span> using fiat methods on Bybit, but these methods involve credit and debit cards.<\/p>\n Deposits are made using three listed methods, EWallets, credit cards, or debit cards. Unlike OKX, where bank transfers are possible on P2P trading, Bybit doesn’t have the facility of fiat deposits of any kind through P2P trading.<\/p>\n Bybit has listed over 100 cryptocurrencies and allows traders to buy and sell over 300 crypto trading pairs. The platform features an affordable fee model based on maker\/taker. The fee is reduced depending on VIP and Pro tiers, which are determined by a user’s trading volume.<\/p>\n To make trading easy, Bybit also offers multiple facilities, including copy trading and trading bots. With copy trading, users can copy trading signals from successful traders. And with a trading bot, users can automate their crypto investment process.<\/p>\n Visit Bybit<\/strong><\/span><\/a>\n<\/p> <\/a>Bitpanda is among the first cryptocurrency exchanges that come to your mind when looking for a good platform to buy bitcoin through bank transfer. <\/span><\/p>\n Founded in 2014, BitPanda has soon become one of the most reputable exchanges due to its exceedingly easy-to-use platform and fast registration process. It’s primarily famous inside the EU as the platform offers very cost-effective trading in European countries. <\/span><\/p>\n If you want to be one of the 1.2 million people using Bitpanda, you can register as a new member in 2 easy steps. First, insert your personal details; after submitting, the system prompts you to have your personal identification document in hand. <\/span><\/p>\n Secondly, a short video call notification will pop up on your screen. Once you accept the call, a Bitpanda customer care agent will personally verify you as the original account holder. This safe account validation system is one of the fastest compared to other platforms.<\/span><\/p>\n Bitpanda’s ease of use is also featured in its simple trading platform, where even the most inexperienced can easily get the hang of online trading and purchasing digital assets. Plus, it has a good customer support service that usually responds quickly and appropriately. Currently, Bitpanda features 50 different cryptocurrencies, and the company is currently investing in growing even further.<\/span><\/p>\n The platform supports various payment options that include bank transfers and accepts payments in different fiat currencies. As for its fees, it charges payment for order flows or otherwise known as taker and maker fee, which is already incorporated into the cryptocurrency price. <\/span>BitPanda<\/span><\/a> also charges deposit fees, but it’s completely free when using a bank transfer option inside the EU.<\/span><\/p>\n <\/p><\/div>Buy Bitcoin with a UK Bank Transfer – Quick Guide<\/h2>\n
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How to Buy Bitcoin with Bank Transfer Step-by-Step<\/span><\/h2>\n
Sign-up with eToro <\/span><\/h3>\n
Verify Your eToro Account<\/span><\/h3>\n
Fund your Account via Bank Transfer<\/span><\/h3>\n
Buy Bitcoin with a Bank Account<\/span><\/h3>\n
Pros & Cons of Using Bank Transfers to Buy Bitcoin<\/h2>\n
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How to Withdraw Bitcoin from a Brokerage Account<\/span><\/h2>\n
Where to Buy Bitcoin with Bank Transfer – Top List<\/span><\/h2>\n
eToro – Best Trading Platform to Buy Bitcoin with Bank Transfers<\/span><\/h3>\n
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OKX – Buy Crypto Using Bank Transfer on P2P Trading<\/span><\/h3>\n
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Bybit – Crypto Platform Supporting Fiat Deposit <\/span><\/h3>\n
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Bitpanda – Best Platform to Buy Bitcoin in the EU<\/span><\/h3>\n
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