Buy Bitcoin with instant bank transfer: This is how it works

Whether Ripple, Ethereum, Litecoin or even Monero - there are extremely many alternatives to Bitcoin, the mother of all digital currencies. And although Bitcoin suffered a loss of over 80 per cent in 2018, it is still the undisputed number 1. There is currently no cryptocurrency that could somehow pose a threat to Bitcoin - which means it will probably remain at the forefront in the near future.

Those who want to buy Bitcoin like to use the simple method of instant bank transfer. But not all brokers offer this payment method. Especially for newcomers, the payment process can be quite confusing. Therefore, we have listed the most popular ways to buy Bitcoin via instant bank transfer and provide detailed buying instructions.

For those in a hurry: Buy Bitcoin with Instant bank transfer in three steps

First step: Opening an account

First of all, we need an account with a provider that enables the trading of Bitcoin CFDs via instant transfer. The recommendation clearly goes to Libertex.

Opening an account here is relatively simple and quick. In addition, the provider is state-regulated and subject to deposit protection.

To be able to trade Bitcoin CFDs at Libertex, you first have to fill in the empty fields in the Libertex registration form. The link below will take you directly to this page.

Second step: Deposit with Instant bank transfer

After the account is registered, you can directly access the trading area. Here you can choose whether you want to test various trading strategies in the demo area first or switch directly to live mode.

In order to be able to buy Bitcoin CFD via your live account, you must now top it up with real money. To do this, click on "Deposit" in the top right-hand corner and then select "Instant bank transfer".

You will then be automatically redirected to your bank account where you have to confirm the transaction.

Third step: Purchase

As soon as the money has arrived at Libertex, it will be displayed as a new account balance on the right-hand side under "Capital".

The easiest way to find the desired currency is to enter the term directly in the search bar at the top. In the mask that appears, you can open the buy or sell mask by clicking on "Open trading position". Here you only have to make the necessary settings, such as the amount for which you want to trade with Bitcoin CFD.

With a final click on "Buy" you have already acquired your first Bitcoin CFDs.

A Bitcoin broker is a state-licensed provider that offers Bitcoin as a CFD (contract for difference). You can trade a falling and a rising price with a CFD. You don't need a Bitcoin wallet and can start trading immediately.

If you prefer to trade with real Bitcoins, you should look for a reliable Bitcoin exchange and then need a wallet to keep the coins safe.

Trade Bitcoin with instant bank transfer at Libertex

Libertex is a well-known, state-regulated and licensed Bitcoin CFD platform. This makes this reputable provider perfect for trading a Bitcoin CFD.

Trade Bitcoin with instant bank

Wide range of products to choose from

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Set up an account with Libertex

Click on one of the buttons to go to the Libertex platform. Here you scroll down, click on "Open an account" and then enter your email address and choose a strong password.

Deposit money via instant bank transfer

You will then be taken to the Libertex overview page. From here, navigate to the "Deposit" option at the top right of the menu. Select "Instant bank transfer" as your payment method. Now you have to enter the amount you want to transfer. You will then be redirected and have to confirm the transaction in your bank account.

Bitcoin CFD trading via instant bank transfer

Once the payment has been received, you can use it to buy a Bitcoin CFD at Libertex. To do this, click on "All instruments" at the top and then on "Cryptocurrencies". Alternatively, you can search for the desired currency using the search bar at the top. A Bitcoin screen will now appear, offering information on prices. To buy the Bitcoin CFD now, as in our example, click on "Open trading position", make the desired settings and click on "Buy".

Trade Bitcoin with instant

Buy Bitcoin with instant transfer at markets.com

If you are looking for an alternative to Plus500, you should take a closer look at markets.com. Here you can only buy Bitcoin CFDs and not real Bitcoins, but the broker is also very clearly structured and reliable. Here, too, registration and purchase is completed within a few minutes.

step 1

Set up an account with markets.com | Step 1

Here, too, the first step is to fill in the personal data in the registration mask on the markets.com website. Then click on "Create account". If the language of the platform, you can change it at any time.

step 2

Deposit money via instant bank transfer | Step 2

In order to trade Bitcoin CFDs, you must switch to "real money mode" in your account. This is the only place where you can deposit money. Before you can do this, as with most brokers, you will need to provide some additional information about your trading experience and answer some questions.

Afterwards, markets.com will assess your suitability for CFD trading. However, this test has no influence on your trading possibilities. Even if you are unsuitable for CFDs, you can still use the platform by accepting a risk declaration. It only serves to assess your knowledge and must be carried out by reputable brokers due to legal regulations.

When you are done with the questions, you can deposit your money. To do so, go to "Funds" in the menu and select "Instant bank transfer". Then enter how much you want to deposit and your bank details.

step 3

Buy Bitcoin now with Instant bank transfer | Step 3

As soon as the money has arrived at markets.com, you can start trading. To do this, simply search for "Bitcoin" using the search function or click on markets in the menu and then click on the currency.

As soon as you click on "Buy", a new window opens in which you can adjust your purchase. Here you can also specify how many euros you want to buy Bitcoin CFD for. Click on "Place order" to complete the purchase.

Congratulations! You have bought your first Bitcoin CFD at markets.com!

Since CFDs are quite risky, you should inform yourself well about contracts for difference in advance. markets.com also offers a demo account with which you can first try out trading.

Conclusion

markets.com is a popular broker and a thoroughly recommendable platform. Here you can open an account and buy Bitcoin CFDs within a few minutes. The demo mode is especially useful for newcomers to gain more trading experience. There is also a useful app for trading on the go.

Buy Bitcoin with Sofort Bank Transfer

A third alternative to buying Bitcoins via Sofort is VirWoX.

Here, however, it should be noted that only the purchase of real Bitcoins is possible (no CFDs) and this can also take a little more time, as the purchase of Bitcoins with euros is only possible via a diversion.

Tips & Information

The direct purchase of Bitcoins is not possible on VirWoX. Here you have to take a small diversions, which is, however, described in the following instructions. It should also be noted that the fees for depositing via instant transfer amount to 2.5% of the amount to be deposited.

Note: For some registrations, it may take a few days before the account is created and deposits can be made.

The following table shows the tiered limits at VirWoX:

possible on VirWoX

Quick guide: Buy Bitcoin at VirWoX with instant bank transfer

  •    Create an account with VirWoX
  •     Deposit via Instant bank transfer: Enter your bank details and deposit euros at VirWoX
  •     Buy SLL: Buy Second Life Linden Dollars with your deposited Euros now.
  •     Buy Bitcoin (BTC): Now buy the desired amount of bitcoins with the SLL you just bought
  •     Withdraw: Transfer the Bitcoins to your Bitcoin Wallet for safekeeping.
Buy Bitcoin with instant bank transfer at VirWoX

Step by step guide: Buy Bitcoin with instant bank transfer at VirWoX

Tip: If the website is not automatically displayed when you visit, you can change this at any time via the left sidebar.

1. open an account with VirWoX

First, click on "Not registered yet?" or "Register for free here" on the VirWoX website.

2. enter your account information

Then enter your personal data and click on "Register". You can ignore the menu item "Connect with avatar", this is optional and not relevant for the account.

3. check email account

You will now receive an email with a temporary password. This is only valid for the next 24 hours and must be changed within this time.

4. change password

Log in to VirWoX with the password you received and click on "Change settings" in the left sidebar (under "My account").

Note that your password should have at least 12 characters, upper and lower case letters and numbers.

5. deposit money with Instant bank transfer

In the left sidebar you will find the button "Deposit". Here you select "Instant bank transfer" and enter the amount you want to deposit. Then enter your bank details and confirm the purchase.

6. check your VirWoX euro account balance

Once the transfer is complete, you should be able to view your new account balance in the trading account. The required fees are already deducted here.

7. change Euro to Second Life Linden Dollar (SLL)

Changing EUR into SLLSince you cannot buy Bitcoins with euros at VirWoX, you must first change them into Second Life Linden dollars. You do this via the menu item "Change" in the left sidebar. Here you select "EUR/SLL".

You will then receive an overview from which you can choose how much of your deposited euros you would like to convert into SLL.
You must now confirm your selection by clicking on "Place Order!

8. convert SLL into BTC

BTC/SLL VirWoXYou can now finally convert the Second Life Linden Dollars you just bought into Bitcoin (BTC). To do this, proceed exactly as you just did: Click on "BTC/SLL" in the left sidebar.

Now you will see the overview of the desired amount.

Change SLL to BTC

Specify how much of your SLL you want to exchange into Bitcoin and click on "Continue". Complete the order process by clicking on "Place Order!

Congratulations, you have just purchased real Bitcoin from VirWoX!

After the purchase: Store Bitcoin securely

For security reasons, it is advisable never to store the purchased Bitcoins at an exchange or bureau de change, but to transfer them to a secure Bitcoin wallet. There are several ways to do this. One of the simplest and safest is to store them in a hardware wallet.

Trezor One

  •    Supported cryptocurrencies including Bitcoin: >12
  •     Price: ~130€ (including tax and shipping - current price at the provider)
  •     Open source: Yes
  •     Screen: Yes
  •     Weight: 12g

Ledger Nano S

  •    Supported cryptocurrencies including Bitcoin : >23
  •     Price: ~94€ (including tax and shipping - current price at the provider)
  •     Open source: No
  •     Screen: Yes
  •     Weight: 16g

Should you invest in the Bitcoin now?

Buy Bitcoin
Bitcoin is the cryptocurrency par excellence:
At the current time, there is no other digital currency that comes close to the Bitcoin - moreover, there has also never been a cryptocurrency that has come close to the 20,000 US dollar range.

But why is the Bitcoin - and this despite the real drastic loss year 2018 - still so popular? It's more about the idea behind the cryptocurrency. If one deals with Bitcoin, one inevitably comes across the topic of decentralisation. Compared to the US dollar or the euro, Bitcoin is not controlled by any central authority.

Furthermore, Bitcoin can be used for anonymous transactions. If you look at the various expert opinions, there is definitely the possibility that Bitcoin could become a complement to the current financial system that should not be underestimated. Many crypto fans are even of the opinion that Bitcoin could even unbalance and replace the financial system that has existed for decades.
When it comes to the question of whether or not to invest in the Bitcoin, it is advisable to look at current price forecasts on the one hand and also take a look at any future developments on the other.

What plans are being pursued by the individual countries, for example, when it comes to allowing Bitcoin as an official means of payment? Are there any Bitcoin bans in the offing?

The Bitcoin is, especially after the correction, a very interesting possibility if you are an opportunity-oriented investor - all those who would describe themselves as security-oriented should better keep their hands off the crypto market.

FAQ

What is the advantage of buying Bitcoin with Instant bank transfer?

The advantage of instant bank transfers when buying cryptocurrencies like Bitcoin is that the confirmation of the payment is confirmed immediately. With this, purchases can also be made immediately.

How can I buy Bitcoin with Instant bank transfer?

First, you have to choose a trustworthy provider. Then you have to register on the platform. Then comes the step of verifying the account. And then you can buy Bitcoin with instant bank transfer right here.

Where can I buy Bitcoin with instant bank transfer?

There are numerous providers where you can buy Bitcoin with instant bank transfer, such as eToro, Plus500 and Investous.

Can you buy Bitcoin anonymously with instant bank transfer?

It is not possible to buy Bitcoin completely anonymously with instant bank transfer.

About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.