How to Buy Bitcoin with IBAN
Complete guide to buying Bitcoin via SEPA bank transfer. Why it's the cheapest method, step-by-step process, and best platforms for IBAN purchasing in Europe.
Buying Bitcoin via SEPA bank transfer (IBAN) is the cheapest way to acquire Bitcoin in Europe. You transfer EUR directly from your European bank account. No card fees, no currency conversion. Just your bank fee (usually zero) and the platform's fee.
A typical Coinbase or Kraken card purchase costs 1.5–2%. SEPA costs 0.5% or less. For €1,000, that's €5–10 saved. For €10,000, it's €50–100 saved. Scale matters.
Why SEPA is cheapest
Card purchases (credit card):
Visa/Mastercard processing: 0.5–1.5%
Platform fee: 0.5–1%
Total: 1–2.5%
Bank transfer (SEPA):
Your bank fee: 0% (usually free within EU)
Platform fee: 0.1–0.5%
Total: 0.1–0.5%
Crypto-specific payments (PayPal, Revolut):
Payment processor fee: 2–3%
Platform fee: 0.5–1%
Total: 2.5–4%
The math is simple: SEPA wins by 3–4x on fees.
Trade-off: SEPA takes 1–3 business days. Cards are instant. For one-time purchases, the time cost is worth the fee savings.
Step-by-step: buying Bitcoin via IBAN
On Bitwala
Create account — Download app or go to bitwala.com. Email + password + KYC (ID verification).
Navigate to Buy Bitcoin — Go to wallet → Buy. Select SEPA bank transfer.
Enter amount — Choose EUR amount (e.g., €500). You'll see the exact Bitcoin you'll receive (fees included). Fee displayed clearly.
Get bank details — Bitwala shows you a bank account: IBAN for transfers and a reference code (always include this).
Transfer from your bank — Open your bank app or website. New transfer. Enter Bitwala's IBAN. Amount: €500. Reference: the code Bitwala gave you. Send.
Wait for arrival — 1–3 business days. Bitwala credits your wallet automatically. Bitcoin appears in your app.
On Relai (Swiss app, Europe-wide)
Account creation (less KYC than Bitwala)
Buy Bitcoin section
Select bank transfer
Transfer EUR to Relai's account
Bitcoin arrives in 1–2 days
Fee: typically 0.5%
On Kraken (global platform, Europe-wide)
Create account (full KYC)
Funding → Add funds → SEPA
Enter EUR amount
Kraken shows bank details
Transfer from your bank
Funds appear in 1–3 days
Buy Bitcoin from Kraken wallet
Fee: 0.16% for SEPA → BTC
On Coinbase (US-based, SEPA still works)
Account + KYC
Add payment method → Bank account
SEPA transfer available
EUR → Coinbase wallet
Buy Bitcoin
Fee: variable (0.5–1.5%)
Platform comparison
Platform | SEPA Available | Fee | Speed | App Quality | Regulation |
|---|---|---|---|---|---|
Bitwala | Yes (native) | 0.3–0.5% | 1–2 days | Excellent | BaFin/MiCA |
Relai | Yes | 0.5% | 1–2 days | Good | FINMA (Swiss) |
Kraken | Yes | 0.16% | 1–3 days | Excellent | Global licenses |
Coinbase | Yes | 0.5–1.5% | 1–3 days | Excellent | US regulated |
Trade Republic | Yes (broker) | 0.5% | Instant (stocks) | Excellent | BaFin |
Deblock | Yes (native IBAN) | 0.3% | Instant | Good | PSAN/MiCA |
Honest tradeoffs
Best for speed: Coinbase or Kraken (large platforms, fast processing).
Best for cost: Kraken at 0.16%. Bitwala at 0.3–0.5% if you stay within Bitwala ecosystem.
Best for integration: Bitwala (IBAN feeds directly to your crypto wallet) or Deblock (IBAN + MPC + card in one stack).
Best for privacy: Relai (less invasive KYC).
Best for beginners: Coinbase (simplest UX, clear fees, educational).
Real example
Scenario: You want to buy €1,000 of Bitcoin.
Method | Total Cost | BTC Received | Speed |
|---|---|---|---|
SEPA on Kraken | €998.40 | 0.02857 BTC | 2 days |
Card on Coinbase | €985.00 | 0.02856 BTC | Instant |
SEPA on Bitwala | €996.50 | 0.02857 BTC | 1–2 days |
SEPA saves €14 vs card. But you wait 2 days. If you're buying regularly (DCA), the savings compound.
FAQ
Can I buy Bitcoin with SEPA if I'm not in the EU?
No. SEPA is EU-only. Outside EU, use card or Revolut (which mimics SEPA for many countries).
Does my bank block SEPA transfers to crypto platforms?
Rarely in 2026. Banks are used to it. But some conservative banks (German Sparkasse) may require you to allow it first in your app settings.
What if I send the wrong amount?
Bitwala and most platforms will either refund or credit the difference. Contact support immediately.
Is it safe to send my IBAN to a crypto platform?
IBAN alone can't be used to withdraw money (you need the account holder's permission). It's as safe as giving your mailing address. The crypto platform uses it to receive, not send.
How long do I have to send the SEPA after requesting it?
Usually 24–48 hours before the offer expires. Bitwala will show a countdown timer.
Can I buy fractional Bitcoin?
Yes. All platforms allow fractional BTC. You can buy €1 of Bitcoin if you want.
What's the minimum buy amount?
Usually €10–50. Maximum varies by platform and verification level (€5K–100K typical daily limits).
Do I pay tax on SEPA purchases?
No. Buying crypto is not a taxable event. Selling or spending it is.
Last updated: April 14, 2026. For informational purposes only.