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Here’s How to Buy Bitcoin Using your Bank Account

Bitcoin is again in the midst of a bullish trend, hitting new price marks every week. It is expected to keep going up, so investors are encouraged to get more coins and maximize their earnings. There are plenty of ways to buy cryptocurrencies. One of the safest methods is to buy Bitcoin with ACH. The Automated Clearing House provides a secure and reliable method to purchase Bitcoin, making use of the exchanges that accept this payment method.

Why Choose ACH Transfers for BTC Purchase

ACH transfers are becoming increasingly popular, growing their payment volume each year. This is unsurprising, as they have many advantages over other payment methods. They’re faster and more secure than checks. Transaction fees are lower than credit cards, and there’s no worry about debt, as all operations use the money available in the accounts. A good feature of ACH payments is the ability to set up automatic purchases. This way, investors can establish an investment plan and grow their portfolio gradually, without the need to make each operation themselves.

Lower Transaction Fees Compared to Credit Card Purchases

Despite the benefits of ACH, credit cards are still the most used payment method in the US. However, credit card fees are usually around 1.15% to 3.30%, averaging the different credit card networks and companies.

In the case of ACH payment, there isn’t a single fee rate, either. While some charge a flat rate, others implement a percentage rate. In the first case, the average flat fee is around 20 cents to $1.50. Percentage rates, on the other hand, range between 0.5% and 1.5%, less than half of credit card fees.

Enhanced Security Features Protecting Buyer Funds

The National Automated Clearinghouse Association (NACHA), the entity that oversees and manages ACH payments, enforces a set of standards and rules to ensure the security of the network. The validation of transactions also must pass through security protocols before being final. Merchants typically implement additional security measures, like encryption and micro-validation. Besides that, users should also follow general cybersecurity guidelines, to avoid scams and specific cyberattacks, like spoofing or phishing.

Quick and Reliable Transactions

Transactions on the ACH network usually take a few days to settle, depending on the time and day they’re made. In general, it’s possible to validate a transaction on the same day. The network is active for almost 24 hours, with some short designated periods for processing transactions. And there are 4 payment settlements daily, during business days. The system is overall reliable and less prone to fraud and malicious attacks, so it’s a safe alternative to making Bitcoin purchases.

Simplified Payment Process without Credit Card Hassles

In general, financial transactions nowadays follow a pretty straightforward process. As for ACH transactions, customers only need to introduce the account information they want to send the money to. It’s one of the easiest ways of making payments online. Credit cards, on the other hand, can be a little more difficult and risky. To make a credit card payment, you need to introduce the details of your card: number, validity dates, and security code. However, this data can grant anyone access to the funds. So it’s an added risk in case the device is compromised, or the website isn’t as secure.

Automatic Payment Options for Regular Bitcoin Investments

In crypto investing, there’s a strategy called Dollar-Cost Average (DCA), where investors make regular small purchases of an asset to benefit from potential gains and reduce the exposure to losses. ACH payments can be set up to make these regular BTC purchases. This way, investors can automate their investing strategy, especially considering a long-term investment in Bitcoin.

Is Buying Bitcoin with ACH Secure?

In the cryptocurrency world and, to be honest, in the financial world in general, security is one of the most sensitive concerns. The ACH network provides a secure and reliable environment to purchase Bitcoin. And, while transactions don’t verify instantly, they often clear on the same day. So customers won’t be as affected by price fluctuations.

The Security Protocols in ACH Transfers

Payment processors and businesses that utilize the ACH network must comply with strict security measures to protect users’ funds and personal data. The NACHA establishes a set of security requirements for businesses accepting ACH transactions. One of the most crucial is the use of encryption for personal data transfers (bank details). They also require companies to take measures to verify the identity of their customers.

Reduced Fraud Risk with ACH Payments

Similarly, NACHA also requires participating businesses to implement fraud detection protocols. The idea is that these fraudulent transactions are not submitted to the ACH network. This can vary from one processor to another. And that’s why it’s important that users make their transactions through trustworthy merchants. Customers should also be wary of making deposits to unknown accounts. In the case of purchasing Bitcoin, investors should opt for making transactions on reputable exchanges, with a proven record and a solid security infrastructure.

Enhance Your Crypto Portfolio with ACH Bitcoin Purchases

In summary, ACH offers great benefits to crypto investors. It’s a reliable and secure payment method, easy to use and manage. Moreover, there are additional features that can strengthen an investment strategy, such as automated payments. This way, investors can increase their wealth regularly and free themselves of making operations manually.

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