How to Buy Bitcoin on Crypto.com with Wire Transfer

Buying Bitcoin on Crypto.com using a wire transfer is a straightforward process that involves several key steps. This guide will walk you through the process in detail, ensuring you understand each part of the procedure.

Step 1: Setting Up Your Crypto.com Account

Before you can buy Bitcoin, you need to set up your Crypto.com account. If you don't already have one, follow these steps:

1. Download the Crypto.com App: Available on both iOS and Android, the app can be downloaded from the respective app stores.
2. Sign Up: Open the app and sign up by providing your email address and creating a password. You will receive a verification email; follow the instructions to verify your account.
3. Complete KYC Verification: For security purposes, Crypto.com requires users to complete Know Your Customer (KYC) verification. This involves uploading a government-issued ID and a selfie to confirm your identity.
4. Set Up Two-Factor Authentication (2FA): This adds an extra layer of security to your account. You can use Google Authenticator or another 2FA app for this purpose.

Step 2: Adding a Bank Account for Wire Transfers

To use a wire transfer, you need to link your bank account to your Crypto.com account:

1. Go to the “Accounts” Section: In the Crypto.com app, navigate to the "Accounts" section.
2. Select “Fiat Wallet”: This is where you will manage your fiat currency, including the ability to add a bank account.
3. Add a Bank Account: Follow the prompts to link your bank account. You will need your bank details, such as your account number and routing number.

Step 3: Initiating a Wire Transfer

Once your bank account is linked, you can initiate a wire transfer:

1. Navigate to “Deposit”: Go to the “Fiat Wallet” and select “Deposit”.
2. Choose Wire Transfer: Select “Wire Transfer” as your deposit method.
3. Review the Instructions: Crypto.com will provide you with specific wire transfer instructions, including the account details where you need to send the funds.
4. Initiate Transfer from Your Bank: Log in to your bank’s online banking platform and set up a wire transfer to the details provided by Crypto.com. Ensure you include any reference numbers or notes as instructed to avoid delays.
5. Confirm Transfer: After initiating the transfer, confirm the details and submit the transfer request.

Step 4: Buying Bitcoin

After your wire transfer is completed and the funds are available in your Crypto.com Fiat Wallet, you can purchase Bitcoin:

1. Go to the “Buy” Section: Navigate to the “Buy” section in the Crypto.com app.
2. Select Bitcoin (BTC): Choose Bitcoin from the list of cryptocurrencies.
3. Enter Amount: Input the amount of Bitcoin you want to purchase or the amount of fiat currency you want to spend.
4. Review and Confirm: Review the transaction details, including the current price and fees. Confirm the purchase if everything looks correct.
5. Complete Purchase: Follow any additional prompts to complete your Bitcoin purchase.

Step 5: Verifying Your Purchase

Once the purchase is complete, you should verify that the Bitcoin has been credited to your Crypto.com account:

1. Check Your Crypto Wallet: Go to the “Crypto Wallet” section and check your Bitcoin balance.
2. View Transaction History: Review your transaction history to ensure the purchase appears correctly.

Additional Tips

• Fees: Be aware of any fees associated with wire transfers and Bitcoin purchases. These can include transfer fees, exchange fees, and others.
• Transfer Time: Wire transfers can take a few business days to process. Make sure to account for this when planning your purchase.
• Security: Always ensure you are using secure internet connections and be cautious of phishing scams.