How to Buy Bitcoin (BTC) Instantly With a Bank Account?

For those looking to buy and sell Bitcoin, as well as other cryptocurrencies, CEX.IO offers plenty of choices. In addition to traditionally popular credit and debit cards, eligible participants can buy crypto with a bank account. We support numerous pathways, including SWIFT, SEPA, and Faster Payments transfers. In the following step-by-step guide, we explore how to buy crypto with checking account on CEX.IO. 

Guide: How to Buy Bitcoin (BTC) with a Bank Account Instantly

To become eligible to buy crypto with a bank account, users must register and verify their accounts with the CEX.IO Bitcoin exchange. We offer convenient solutions not only to curious individuals exploring the crypto ecosystem but also to those interested in creating and expanding their business portfolios. 

What Account Type Should You Choose?

While both account types provide access to all CEX.IO services and products (subject to regional/local availability), they cater to different user preferences. Here are the aspects you should consider when choosing between individual and business accounts: 

Individual accounts: 

• Best for users who spend less than $10,000 per day. 
• Does not require the source of funds verification (as long as your daily transactions do not exceed $10,000). 
• You only need to provide some personal information, like your name, date of birth, and place of residence, to transact. 

Business accounts: 

• Tailored for entrepreneurs who plan to trade big volumes on CEX.IO. 
• Requires corporate verification. 
• Involves company funds rather than personal ones for cryptocurrency trading. 
• Support higher deposit and withdrawal limits. 

How Do I Top up My CEX.IO Account with a Bank Transfer?

We offer several bank transfer methods depending on your location, all providing a secure and regulated way of transferring money. However, before you choose the best payment gateways, we encourage you to get familiar with the conditions and fees of available funding methods. 

SWIFT: International Transfer

A SWIFT transfer is a method of sending international bank payments using the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network. It enables banks around the globe to communicate securely when transferring money across different financial institutions. SWIFT deposit transactions typically require: 

• Recipient’s IBAN or account number.
• SWIFT/BIC code of the recipient’s bank.
• Sender’s full name and account details.
• Purpose of payment (sometimes mandatory for compliance).

Furthermore, international transfers can take between one and five business days, though this depends on intermediary banks. Also, this type of transfer might involve fees, with charges applied by the sending, intermediary, and receiving banks. 

SEPA: Single Euro Payments Area

SEPA is a European Union payment network that offers domestic and cross-border transactions. It aims to provide faster, low-cost, or even zero-fee payments within the region. So, if you live in one of the supported regions, you can buy Ethereum, Bitcoin, Cardano, and other cryptocurrencies using domestic bank transfers. 

Here’s what you should know about SEPA: 

• SEPA transfers occur between banks without intermediaries (hence lower costs than SWIFT).
• Supports only transactions in EUR currency.
• Requires IBAN and recipient’s name.

Additionally, it’s worth noting that recipients receive funds within one business day with SEPA Credit Transfers. 

Faster Payments 

Faster Payments is a UK-based payment system that allows near-instant transfers between participating UK banks. Here are the key takeaways of Faster Payments bank transfers: 

• The sender provides recipient details (account number & sort code).
• Available only in GBP within the UK.
• Works 24/7, including weekends.
• Transactions are usually fee-free or have minimal charges.
• Funds are transferred immediately (usually within seconds).

Step-by-Step Guide: Buy Bitcoin with a Bank Account

Now that you know more about each bank transfer type, you’re ready to purchase. The most intuitive way to obtain Bitcoin and other crypto with checking account is through our Wallet functionality, available through our web-based platform for desktops and laptops, as well as iOS and Android crypto mobile apps. Below, we outline the steps.

Step 1: Navigate to Wallet

Log in to your CEX.IO account and navigate to the CEX.IO Wallet. You can find this function on the right-hand side, next to Instant Buy. 

Step 2: Fund your CEX.IO Account with FiatBe: 

To acquire crypto, you need to top up your wallet with fiat funds first. Then, you can convert those funds into crypto. The process is fairly straightforward, and here’s how to do it:

• Navigate to the Add Funds section, located in the top right corner of the Wallet dashboard.
• Click Select Asset and type the fiat currency they want to use (EUR, USD, or GBP) in the search bar. 
• Specify the amount of fiat. 
• Click on Select Payment Method and choose Bank Transfer. 
• You’ll receive the bank transfer details from CEX.IO.  
• Visit your bank branch and deposit funds with the provided transaction details. 

Step 3: Convert Fiat to Crypto

Once you receive the fiat balance, you can proceed with buying crypto. Once again, you need to enter the Wallet functionality and, from there, choose your preferred cryptocurrency. You can scroll the list of available assets or use the search bar to find the crypto you want to buy. If you want to learn more about the current value of the selected crypto, please refer to our cryptocurrency prices page. 

After selecting the asset, click Convert, located on the right-hand side, next to Add Funds. Then, click Select Asset and find the fiat currency that matches your balance. Finally, click Convert to complete the transaction. 

This way, you can buy Litecoin (LTC), Tether (USDT), Tron (TRX), and many other supported assets presented on CEX.IO.

Buy Crypto with a Bank Account through a Mobile App

As mentioned earlier, CEX.IO provides mobile apps for Android and iOS, catering to on-the-go users. You can download our smartphone apps from your Google Play or App Store within minutes. Here’s how to buy Bitcoin & Crypto with a bank transfer via the CEX.IO app: 

1. Download and install the CEX.IO app.
2. Create an account and verify your identity if you haven’t done so already.
3. Log in to your CEX.IO account. 
4. Tap Wallet, located at the bottom navigation bar. 
5. Tap Receive. 
6. Use the search bar to find the fiat currency you want to receive (USD, EUR, or GBP) and enter the amount. 
7. Choose Bank Transfer as the preferred payment method. 
8. Complete the transaction at your bank establishment or in online banking. 

Once your account has been credited with the chosen amount of fiat, follow these steps: 

1. Tap Wallet
2. Tap Convert. 
3. Choose your preferred cryptocurrency. 
4. Review the fees and confirm the conversion. 

Buy Bitcoin and Crypto through Spot Trading

CEX.IO offers multiple pathways for eligible customers to obtain Bitcoin and other 200+ vetted assets. While Wallet and Instant Buy offer the possibility to convert fiat to crypto at the current market price, Spot Trading allows participants to trade fiat for crypto and potentially take advantage of crypto price movements. 

Here’s how: 

1. Top up your CEX.IO account through our Wallet functionality, as described above. 
2. Navigate to Spot Trading under the Products menu (instead of choosing Wallet). 
3. Within the navigation menu on the left, click/tap on the cryptocurrency pair. 
4. Use the search bar to find the pair you want to trade. You can see the list of all markets on the left part of the page and choose BTC to USD, ETH to EUR, ADA to USDT, or any other pair.
5. Under the price chart, find the order placing widget.
6. Choose your order type (instant market order or limit market order).
7. Complete your trade. 

Disclaimer: Please be aware that trading can be risky, especially for those without crypto experience. Make sure to get familiar with the standard trading strategies, research projects, and learn about technical and fundamental analyses before engaging in any trading activities. 

How do I withdraw money from CEX.IO to a bank account?

Eligible customers can seamlessly withdraw deposited cash from their CEX.IO accounts to their bank accounts in a few simple steps: 

1. Log in to your CEX.IO account. 
2. Head on to Wallet. 
3. Select the fiat currency with a balance. 
4. Click Withdraw. 
5. Head on to Select the Destination. 
6. Choose Bank Transfer. 
7. Enter the required information: 
   • Bank name
   • Country
   • Address
   • BIC/SWIFT number
   • IBAN or your bank account number

Those looking to withdraw their crypto holdings need to convert crypto to fiat before transferring funds to their bank accounts. Here’s how: 

1. Once you log in successfully, go to Wallet. 
2. Select the asset you want to convert. 
3. Specify the fiat currency to which you want to convert your crypto. 
4. Click Convert. 
5. Go back to the Wallet dashboard. 
6. Follow the withdrawal steps outlined above (from step 3).

Finally, for those who aren’t able to withdraw funds to their bank accounts, for whatever reason, or simply want to collect their crypto holdings without converting to fiat, we offer cryptocurrency withdrawals, as outlined below:

1. Go to Wallet. 
2. Choose the asset you wish to withdraw. 
3. Select Withdraw. 
4. Specify the amount of crypto you want to collect.
5. Click Select the Destination. 
6. Choose a Cryptocurrency Address. 
7. Enter the recipient’s address or scan the QR code.