How to Buy Bitcoin with Bank Transfer – Beginner’s Guide

One of the easiest ways to buy Bitcoin is to use the bank transfer option. Buying Bitcoin with bank transfer is smooth, easy, and anyone can get it done quickly.e

This beginners guide will show you where and how to buy Bitcoin with bank transfer and the best platform to buy Bitcoin UK. Make sure you read the full guide so you don’t miss out on key details about Bitcoin UK bank transfer.

Key points on buying Bitcoin with with bank transfer

• Buying Bitcoin with Bank Transfer is a cost-effective option compared to the alternatives.
• Bank transfer is a secure and straightforward process of buying Bitcoin UK.

Why Buy Bitcoin with Bank Transfer?

There are several advantages for investors who choose to buy Bitcoin UK bank transfer, some of them include:

1. High Security

A bank transfer is generally safer and secure than when you choose to buy Bitcoin with a debit card, A bank account cannot be easily compromised or accessed online as easily as your debit card details could, making it more secure option for buying Bitcoin`.

2. Safer deposits and withdrawals

While bank transfers are not the fastest way to fund your account, the option offers you safer deposits and withdrawals in multiple currencies (USD, GBP, EUR). To avoid unnecessary bank charges, users should also ensure that the bank account they are transferring funds from and the receiving account is in the same currency denomination.

3. Mobile app

You don’t have to leave your phone or switch to a computer to transfer funds from your bank to your cryptocurrency trading account. You can easily use the bank’s mobile app to send swift transfers.

Where To Buy Bitcoin with Bank Transfer?

1. Coinbase – Best Platform For Crypto Newbies

Coinbase is a top US-based Bitcoin exchange platform specialising in buying, selling, and holding cryptocurrencies.

Coinbase is the best platform to Buy Bitcoin UK bank transfer for beginners because it is built with a simple and user-friendly interface that makes it convenient for users to navigate. Signing up on the platform is also very straightforward.

Coinbase provides learning materials and programs to educate users about the financial crypto market, how it works, and how to make money.

This unique feature that provides novice traders and crypto enthusiasts the opportunity to learn and understand the financial market has enabled Coinbase to accrue a total of 43 million verified users and secure a net revenue of £855 million in 2020.

Coinbase has a £1.5 minimum for deposits and charges 0.5% to 4.5% per trade as the transaction fee and can be higher or lower due to market fluctuations.

Coinbase’s e-money services are regulated and licensed by the UK’s Financial Conduct Authority (FCA). The exchange has a wide range of tradable assets as the platform currently supports over 100 cryptocurrencies and offers Coinbase Pro users 81 crypto-to-crypto trading pairs.

The platform currently allows users to fund their accounts using the Bitcoin bank transfer UK, debit cards, PayPal, Apple Pay, and Google Play.

Pros

• Offers access to over 100 crypto assets
• Low minimum deposit amount of £1.5
• Insurance during the event of a security breach

Cons

• Considerably high transaction fees

74% of retail investor accounts lose money when trading CFDs with this provider.

Conclusion

In comparison to other payment methods available for buying bitcoin, the bank transfer method is regarded as the most affordable and secure method for completing transactions. Buying Bitcoin via bank transfer also avails users of higher deposit and withdrawal limits which open up the opportunity to deal in large scale crypto transactions and investments.

This payment method is available to everyone as most people own a bank account that can be used to make payments online.

Frequently Asked Questions on Buy Bitcoin With Bank Transfer UK