6 Best Ways To Buy Crypto With Wire Transfer

Most transactions on the Internet are now proceeding with the use of virtual money. Today, there is a huge range of cryptocurrencies for various purposes. Therefore, it is not at all difficult to choose an option that is suitable only for your type of transaction. However, bitcoin can be safely considered the most common currency. In fact it is a huge electronic payment system. In the system, funds are stored as digital assets, and can be both replenished and withdrawn. All transactions are carried out at a predetermined rate, which often changes and depends on various factors, including fiat currencies. 

To use a crypto wallet rationally, you should learn how to replenish it correctly. There are several ways to purchase crypto, but the easiest is to buy Bitcoin with a transfer from a bank account. 

To save your time here is the list of bulletproof methods. But if you want to delve into the topic, read on:

1. Paybis.com - The best for low fees 
2. Coinmama.com - The best for unlimited coins to buy
3. Changenow.io - The best for excellent rating 
4. Changelly.com - The best for security 
5. Paxful.com - The best for no fee buying process
6. Bitfinex.com - The best for advanced traders

Buying Crypto: Risks and Pitfalls 

There is no doubt that buying crypto can be a risky investment. However, there are also many potential rewards to be had if you do your homework and invest wisely. Here are some of the risks and pitfalls associated with buying cryptocurrency:

1. Volatility: Crypto prices can be highly volatile, making them susceptible to sudden price swings. This can lead to losses if you are not careful about when and how you invest.

2. Scams: There have been numerous scams associated with cryptocurrency, so it is important to be aware of these before investing. Be sure to research any wallets, exchanges, or ICOs before sending any money or personal information.

3. Hacking: One of the biggest risks with crypto is the potential for hacking. Since cryptocurrency is stored online, it can be vulnerable to hacker attacks. This could lead to the loss of your investment. As you know, crypto exchanges have been hacked more than once, and many of them have closed due to bankruptcy. Often this is a security issue of the service itself. However, it often happens that users create weak passwords, divulge them, or neglect two-factor authentication. In such cases, the exchange is not responsible for the loss of funds.

4. Regulation: Cryptocurrency is currently unregulated in most jurisdictions. This means that there is no government protection if something goes wrong. Additionally, new regulations or bans on crypto could adversely affect its price and utility.

5. Limited Acceptance: Currently, not all businesses accept cryptocurrency as payment. This could limit its usefulness and make it more difficult to find places to spend your coins.

Despite these risks, buying cryptocurrency can still be a smart investment decision if you are careful and do your research. If you understand the risks and are willing to take them, buying crypto can offer you the potential for high returns. Just be sure to diversify your investment portfolio and only invest what you can afford to lose.

6 Best Solutions to Buy Bitcoin with Bank Account

1. Paybis

Paybiz is a platform for exchanging fiat/digital currency within a few minutes. The most important feature is that it is not necessary to be an expert in blockchain technologies and understand technical analysis: the system will do everything for you. All you will need to do is to guess the right moment when the price is optimal.

Pros   

• • The possibility of buying bitcoin with a bank card
• • No knowledge of blockchain technologies is required
• • A large selection of cryptocurrencies
• • Buying bitcoin instantly with bank account
• • Referral program
• • Cancellation of the transaction if the funds have not been sent within 48 hours

Cons  

• • High commissions
• • There are many complaints about transfer delays, loss of funds
• • There is no mobile app

How to buy cryptocurrency?

1. You need to register on the website/log in to your account;
2. Start exchange: set the initial data;
3. Сlick "Buy", the service will redirect you to a separate page where you will be asked to pass a KYC (Know Your Customer) check; 
4. Platform fixes the price for 30 minutes, and then it starts updating every minute.

2. Coinmama

Coinmama is a platform that allows you to buy bitcoin with a bank account. It is not very widespread in the European space, but it is popular in Asia. The company was founded in 2013 and has already served 1.6 million people in a decade. Coinmama users are registered in 197 countries around the world. Despite such worldwide coverage, the service is translated into only 2 languages - English and Spanish. But this does not prevent users around the world from using the platform to buy bitcoin with wire transfer.

Pros   

• • Focus on beginners
• • Working with bank cards
• • Reliability of use
• • High-quality technical support for users
• • Multiple payment options
• • Fast account verification
• • Instant Coin receipt

Cons  

• • High commissions
• • A small number of supported currencies
• • Inability to sell coins

How to buy cryptocurrency?

1. Register on the website;
2. Сlick on the button "Buy" or "Sell" on the main page; 
3. Set the amount of cryptocurrency to exchange and click on the appropriate button;
4. Storing coins on the platform is unacceptable – they are immediately sent to the address of the client's crypto wallet.

3. Changenow

This is a convenient platform for buying and exchanging cryptocurrencies, which allows you to conduct transactions quickly, without registration and restrictions on the volume of transactions. The most requested feature of the platform is the ability to buy bitcoin with bank transfer. Changenow was founded in 2017, and a year after the founding, the company released its own token - NOW. At the moment, almost 400 cryptocurrencies and about 60 fiats can be exchanged with Changenow. Registration is not required, so you can easily transfer bitcoins to a bank account.

Pros   

• • Large selection of assets
• • Fixing of the course during the application process
• • There are no limits on all deposits/withdrawals, except for cards
• • A lot of useful information on trading
• • Buying bitcoin instantly with bank account
• • Mobile Application
• • Partner Program

Cons  

• • There is no information about the company and license
• • Slow application processing, delays and cancellations are possible
• • Not all currency pairs presented are available

How to buy cryptocurrency?

1. To buy cryptocurrencies in Changenow, it is not necessary to register. Just open the form on the main page of the site, select the type of transaction (Classic Rate / Fixed Rate), number of units of purchase/sale, and click Exchange.
2. The system redirects to a form where you need to re-enter the data and set the requisites from which or to the funds will be transferred.
3. Finally, you check the order details, confirm it, and wow, the application is sent. It remains only to pay.

4. Сhangelly

Changelly is a cryptocurrency exchange that was founded in 2015 in Hong Kong. Changelly is one of the best exchangers, providing users with affordable exchange rates (5%) for various trading pairs on the market. The platform is rapidly growing as it attracts over a million visitors monthly. However, residents from certain areas will not be able to buy bitcoin with bank transfer on the Changelly website. For example, it is not regulated to operate in the U.S.  However, their official website has a huge list of supported countries. Therefore, this does not prevent the majority from using the main function of the platform and buying btc with a bank account.

Pros   

• • A wide selection of coins and tokens for exchange
• • Simple registration procedure
• • The opportunity to buy crypto coins for fiat money
• • Solid level of security
• • Seamless UI
• • Automated best exchange rate search
• • Instant confirmation of transactions
• • A small commission

Cons  

• • Buying crypto assets for fiat is a bit challenging

How to buy cryptocurrency?

1. Choose a cryptocurrency to exchange;
2. Log in to confirm the transaction;
3. Send the amount to the specified address and receive cryptocurrencies to your wallet within a few minutes at the best market offer.

5. Paxful

Paxful is the leading peer-to-peer bitcoin trading platform and international crypto exchange. The company was founded in 2015 and today has several offices around the world. In 2022, the number of platform users was 9 million. One of the great things about Paxful is that the platform does not charge any fees for buying bitcoin with a bank account. If you don't have a bank account, then you can choose from 300+ payment methods for your transaction. When creating the company, the developers sought to make it closer to people and convenient for them. As a result, this approach helped them become one of the leading P2P bitcoin trading platforms over the course of 5 years.

Pros   

• • Stability and security
• • A multi-level system of protecting transactions and personal data, a large number of payment and withdrawal methods
• • Buying bitcoin instantly with bank account
• • Round-the-clock technical support
• • No commission when buying bitcoins
• • Profitable partner program

Cons  

• • Sellers set the commission amount themselves

How to buy cryptocurrency?

1. Log in to the system
2. Find a suitable offer to buy or create an application for the sale of bitcoins
3. In case of purchase, the exchange will take place immediately. The sale will be carried out only after an application that fully satisfies the conditions will be found.
4. Then the user automatically goes to the seller's page, where they can get acquainted with the reviews of other visitors who have already collaborated with the seller.
5. Then you need to follow the instructions of the site and step by step perform all the actions. They may be different depending on the chosen payment method.

6. Bitfenix   

Bitfenix has established itself as a platform for professional traders. In fact it is a universal exchange with ample opportunities for beginners. In our ranking, Bitfinex is the oldest company. The exchange was founded in 2012 by the Hong Kong company iFinex. One of the main advantages of the exchange is a functional terminal with TradingView analytical tools and advanced pending orders, as well as the ability to buy crypto with a bank account. For automated trading via API, there is a proprietary framework that supports popular programming languages.

Pros   

• • Large trading volumes
• • Multilingual interface
• • High level of security
• • Convenient mobile application
• • Partner Program
• • No withdrawal limits
• • A large number of orders
• • Transfers bitcoins to bank account
• • Convenience of work
• • Public rating table

Cons  

• • Complex verification process
• • High fees 
• • No direct connection with technical support

How to buy cryptocurrency?

1. Go to the  Account -> Bank Cards page.
2. Choose a gateway for payment by bank card or for instant payment in Euros.
3. In the drop-down menu, select the currency you want to purchase.
4. Select the wallet to which you want to transfer the funds.
5. After completing the payment, you will be redirected back to Bitfinex to confirm that the process was successful, and your purchase will be credited to your account.

FAQ

How to buy bitcoin with a bank account?

There are a few different ways to buy crypto with bank transfer. You can use a traditional exchange or a peer-to-peer platform. Traditional exchanges are businesses that buy and sell cryptocurrencies for profit. They typically charge fees for their services. Peer-to-peer platforms are websites or apps that connect crypto buyers and sellers. These platforms usually don't charge fees for their services. 

If you're looking to buy bitcoin with a bank account, you'll need to find a platform that supports bank transfers. Once you've found a place that supports bank transfers, you'll need to create an account and verify your identity. After that, you'll be able to deposit funds into your account and start buying bitcoin.

If you're looking for a reputable platform to purchase bitcoin with a bank account, we recommend 6 services from the review above. All of them are popular and well-respected companies to buy btc with bank account instantly. They offer a user-friendly interface and support bank transfers from many different countries.

How not to lose money when trading crypto?

Most of the people buy crypto with bank transfer to invest. Cryptocurrency investment can be a risky business, but there are steps you can take to help mitigate the risk and make sure your investments are as safe as possible. Here are a few things to keep in mind when trading cryptocurrency.

1. Always do your research before investing in any asset, including cryptocurrency. Make sure you understand the risks involved and know what you're getting into before putting any money down.
2. Only invest what you can afford to lose. Cryptocurrency is a volatile market, and prices can swing widely both up and down. If you can't afford to lose your entire investment, it's best to not invest at all.
3. Diversify your portfolio. Don't put all your eggs in one basket, and don't put all your money into one cryptocurrency. Spread your investment around to different assets and different coins to minimize your risk.

What can I buy with bitcoin?

You may wonder why some people need to buy btc with a bank transfer.  Bitcoin can be used to purchase a variety of items, including physical goods and services. Popular items that can be purchased with bitcoin include:

• • Gift cards for popular retailers such as Amazon, Target, and Walmart
• • Membership to online services such as Netflix or Hulu
• • Physical goods such as jewelry, art, or electronics
• • Services such as web design or accounting

To find businesses that accept bitcoin, you can use a directory service such as Coinmap or SpendBitcoins. You can also search online for businesses that accept bitcoin in your specific country or city.

Conclusion

Dealing with crypto may seem difficult only when you are not aware of the tools that are designed to ease the trading process. Cryptocurrency is becoming more and more used around the world, and people are already using it to buy products on a daily basis. That means there should be services that support basic transactions like a possibility to buy btc with a bank account. Wire transfer is one of them and this article is a little guide to the best ways to buy cryptocurrency with it.