How To Buy/Sell BTC and Other Cryptocurrencies Using Bank Transfer

Banks are everywhere, and so is the desire to be able to transfer money from one account to another. A quick look at your bank statements will show that you have had to make transfers many times during your banking history. So, it’s a great way to send and receive money across banks. However, You can’t buy BTC/ Other crypto directly with Bank Transfer at the moment, but here is an indirect way using P2P exchange.

Step 1

First of all, you need to create an account on Paxful. The account creation process is pretty simple. All you need is to signup using your email address and a new password.

Step 2

Verify your account by using your ID card or Passport. This is a good step that is required to reduce spam and scams. Verifying your ID doesn’t take much time, the process is automated so it’s completed in a few minutes for most of the cases.

Step 3:

After creating and verifying the account, you can buy BTC using Bank Transfer. For that, you need to click on “Buy” button and on the next screen:

Select cryptocurrency as BTC
Select Payment Method as Bank Transfer
Select your currency and input amount you want to invest
Click on Find offers

Now you’ll be able to see a lot of offers, it’s time to find the best offer and click on buy.

A chatroom will be opened for you where you can trade with the seller. Important Tip: You can chat a little with the seller to confirm if he is online, then ask for their payment account details. You can send the money and click on the “Paid” button. This will ensure Paxful that you have paid the seller. Now you need to wait for a few seconds or minutes until the seller verifies the payment. After verification, the seller will instruct Paxful to release your BTC. In the next instant, BTC will be available in your Paxful wallet. That’s all…

The same way you can withdraw/Sell BTC to Bank Transfer

For selling BTC in exchange to Bank Transfer , you need to click on sell button in Paxful and see the available options. You can sell to the suitable seller. If you have BTC that are outside Paxful, you can deposit them easily to Paxful. After depositing, you can sell to hundreds of sellers that are avaialbe online.
If you want to explore other P2P exchanges as well, please click “Crypto Exchanges” section in our site’s menu and you can find other P2P exchanges.

We hope that this article has helped you in buying BTC online using Bank Transfer . Happy Trading!