Buy Crypto with an ACH Transfer

Summary: The best way to buy Bitcoin and crypto assets with an ACH transfer in the US is with a FINRA-licensed and regulated exchange. With this method, investors can easily deposit USD from any commercial bank in the United States to safely buy, sell and trade digital assets.

Based on our analysis, our top pick for ACH deposits in the USA is eToro. Their platform offers instant and free US deposits to trade over 70 cryptocurrencies with zero fees and tight spreads. Our research team found them to be a significantly cheaper option than other popular alternatives in the USA like Coinbase and Kraken.

Can you Buy Crypto with ACH?

You can use Automated Clearing House (ACH) transfers to indirectly purchase Bitcoin and other digital currencies. This involves a U.S.-based crypto exchange supervised by FinCEN and holding a FINRA license, allowing ACH transfers. Note that ACH does not directly control cryptocurrency transactions, hence selecting a compliant exchange is vital for financial security.

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How to Buy Bitcoin Crypto with ACH Transfer

As outlined above, the best way to buy cryptocurrencies with an ACH transfer is through a regulated broker in the USA. After analyzing the best exchanges in the USA, we found that eToro was the best platform for ACH deposits to buy and sell cryptocurrencies. They offer free & instant USD deposits to trade over 70 crypto assets on their FINRA-licensed brokerage.

This section explains the 4 detailed steps you need to take to get started:

1. Sign up with eToro and verify your account.
2. Select the 'Deposit Funds' button and choose 'Bank Transfer' as your deposit method.
3. You will then be given unique deposit details for an ACH Transfer. Sign into your bank account and transfer USD to the details provided.
4. Once the funds have landed on your account, you can then buy any of the available crypto assets on the platform.

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What are the Fees?

At eToro, ACH deposits are both instantaneous and completely free, offering a transparent and cost-effective experience when purchasing crypto via ACH transfers. Furthermore, eToro's competitive fee structure sets them apart from many other U.S. exchanges accepting ACH transfers.

For instance, Coinbase users might find themselves paying up to 1.49% in fees and an additional 1% spread for trades on their platform. In contrast, eToro prides itself on charging absolutely no transaction fees, only a 1% spread.

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Does ACH Support Crypto Transactions?

The Automated Clearing House (ACH) network is accommodating of crypto transactions, facilitating the interests of users in investing in cryptocurrencies. It enables users to deposit and withdraw funds from cryptocurrency exchanges licensed by FINRA and regulated by FinCEN in the USA.

While ACH itself does not offer direct crypto services, it plays a significant role in providing users access to regulated and licensed exchanges. This ensures users have a secure method to invest in cryptocurrencies while adhering to regulatory standards.

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What is an ACH Transfer?

An ACH transfer is an electronic transaction that allows money to be transferred between bank accounts in the United States. It stands for Automated Clearing House and is a secure, reliable, and cost-effective way to move funds. ACH transfers can be used for a variety of transactions, including payroll deposits, bill payments, and online purchases. They typically take a few business days to process and are subject to certain rules and regulations.

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Bottom Line

In conclusion, buying cryptocurrencies using ACH transfers is not only possible but also efficient and cost-effective, provided it's done through a licensed and regulated broker like eToro. The ACH system, while not directly handling crypto transactions, facilitates seamless funds transfer between your bank account and a crypto exchange, thereby enabling the purchase and sale of cryptocurrencies.

Leveraging the capabilities of ACH transfers and the competitive fee structure of eToro, individuals can invest in over 70 crypto assets without worrying about high transaction costs or financial security. Thus, ACH transfers play a vital role in making crypto investments secure, affordable, and accessible to users in the United States.