How To Buy Bitcoin With eCheck In Under 5 Minutes!

Fact Checked by Gary McFarlane

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eChecks are electronic versions of regular paper checks. They are a popular low-cost method of cashing out in America. All you need is your bank’s routing code and your bank account number to use eChecks for payment. Transactions take a day or two after passing through the Automated Clearing House for approval into the merchant’s account. Now you can Buy Bitcoin with eCheck in the US with a regulated broker. Platforms like eToro make the whole process much simpler. In this guide, we discuss how and where to buy Bitcoin with eCheck in 2022.

#1 Platform to Buy Bitcoin: eToro

Mobile AppYes
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly

How to Buy Bitcoin with eCheck- Step by Step Guide for 2022

  • Create an account: Sign up with eToro if you want to invest in Bitcoin with eCheck.
  • Verification: Provide a government-recognized ID and bank statement to pass the verification stage.
  • Buy Bitcoin with eCheck: Connect your bank account and buy Bitcoin with eCheck now.
  • Receive your Bitcoins: You’ve successfully invested in Bitcoin with eCheck.

Benefits of Buying with eChecks

Save Money

Banks charge their clients to issue them with physical checkbooks. You may easily ignore the expenses of paper checks, but over time they are significant. Writing paper checks in the US cost between $4 and $25. Ten transactions in a month would hurriedly eat up a whole $40 to $250 from your bank account monthly. This quickly escalates to an average of up to about $3,024 in a year. You may also incur postage fees if you have to send the check to your payee. Combining the total costs of paper checks and postage could leave you spending a reasonably high amount of money on payment. Cut down on costs of investing in Bitcoin in the US by using eChecks. ACHs cost an average of $5, which brings your maximum costs to $600 annually if you process ten eChecks every month.


Safety should be a critical concern when investing in Bitcoin with any method. Fraudsters are always ready to attack any transaction they get access to and steal. The good news? eChecks are a secure method of paying for your Bitcoin purchase in the US. Your data is secured by data encryption technology and tokens to prevent information leakage and fraud. eChecks transactions occur through Secure Vault Payments (SVP), which facilitates transactions without passing sensitive information to your Bitcoin vendors. As a result, investors using eChecks to purchase Bitcoins in the US can be sure that their transactions are safe and do not expose them to fraud.

Fast Method of Payment

A speedy payment method is an advantage when it comes to trading Bitcoin. The digital coin’s volatility leaves no chance for slow transaction methods. eChecks can dramatically lessen the time in which your peer-to-peer Bitcoin seller receives your payment, thereby enabling you to receive your coins in good time. This is because modern banking technology has made it possible to transfer money within less than 24 hours.

Easy Accountability

eChecks provide an easy way of tracking and accounting for your payments. First, they are compatible with most accounting software. By simply dragging your accounting system into the eCheck platform, all your transactions will be recorded seamlessly without double entry. You don’t have to worry about your lack of accounting software. The eCheck platform is laid out in a way that helps you retrieve data on your past transactions and even pull summarized reports.

No transaction Limits

Peer-to-peer exchanges like Paxful remove all transaction limits from your account after the video verification stage. But did you know that it’s still not possible to buy unlimited Bitcoins unless you have a suitable method of payment? Most payment service providers have limits of $10,000 and below. How then will you buy three, four, or five Bitcoins with such a limit? ACH transactions give you the freedom to send any amount of money from your bank account. There are no daily, weekly, or monthly restrictions on how much you can transact. You can buy any amount of Bitcoin with this method stress-free.

Bitcoin eCheck regulation

The FBI declared Bitcoin illegal in the US after cracking down on several illicit dealings in the Silk Road Market back in 2013. The levying body found a way of taxing Bitcoin, and in 2014, it was legalized. The IRS Notice 2014-21 provides all the guidelines for buying and selling Bitcoins in the US. In the guidelines, the tax-arm highlighted that Bitcoin transactions are only legal if they went through a US licensed exchange. Selling Bitcoins without registering the transaction in the US is illegal and punishable by law.

Similarly, any exchange running digital coins business without holding a valid US license is forbidden. The Commodities and Futures Trading Exchange Commission (CFTC) regulates Bitcoin operations under the commodities class of assets. The coin, in the US, is a property, and owners are supposed to record profits and losses to help when filing taxes. As long as your BTC business passes through a regulated broker like eToro and you file for taxes, there is nothing to worry about. eChecks are simply a digital version of standard paper checks. They work under the federal government’s watch and are governed by banking laws just like traditional checks. Investing in Bitcoin with eChecks is legal as long as you’re using a licensed exchange and legitimate payment methods. It would be wrong to buy or sell Bitcoin for hard cash since there will be no record of the transaction with the government.

Although you might get away with it, this could land you in serious issues with the state. The main reason for the regulations is to counter money launderers that try to legitimize proceeds of crime and terrorism. None of us wouldn’t want to promote terrorism or online fraudsters, so it’s essential to comply with government regulation. There’s also an aspect of taxation in Notice 2014-21. The US is one of the countries where getting away with taxes could get you locked in prison. To be on the safe side, make sure to follow the law.

Where to Buy Bitcoin with eCheck in 2022

1. eToro – Top Platform to Buy BTC with eCheck

eToro is a key player in the CFDS and virtual currency sector. It started from Israel as RetailFX in 2007 as a CFDs provider before rebranding to eToro. The broker has been on the front line of leading the fintech revolution in the online trading industry for over 15 years now. One of the most epic contributions of eToro to the exchange sector was social trading. The broker has the best copy-trading platform in the industry and has inspired many of its competitors to follow suit. Amateur traders don’t have to trade their own money before they learn the skill. With eToro, you can pick a successful portfolio to copy and earn you learn.

Join eToro trading academy to shorten your learning curve for free. Here you’ll find a wide range of well-organized study material to help you grasp the skill as fast as possible. You will also attend webinars where you get to interact live with the company’s top market analysts at zero cost. What everyone likes most about eToro is that you save a lot when trading with them. First, there are no crazy margins on Bitcoin price. The platform gives you direct access to the real market liquidity pool. So, you invest in the virtual coin at the lowest price possible. Second, buying Bitcoin with eToro in the US is commission-free. If you think commissions are not a big deal, consider this:

  • Broker X charges a $15 commission every time you open a trade
  • Assuming you trade only ten times a month
  • You will spend 15*10=$150 in commissions
  • Within a year, your total commission paid will be $1800

What can $1,800 do for you today? You can actually use it as your trading capital, pay a deposit for a new car, pay your rent, or your mortgage. eToro does charge you even when you deposit money to the platform. These are the main reasons why it serves more than 21 million clients globally. It has created an environment that promotes success when purchasing Bitcoins with eCheck in the US.

In terms of safety, consider your money and data 100% secure. The platform has multiple layers of protection and fraud-detectors to keep you safe from hackers and any form of security breach. eChecks transactions are initiated from within eToro’s wallet directly to your bank without any third-party involvement. All the information you provide during this stage is transmitted in an encrypted manner. Therefore, you can be sure that there is no leakage of any data when using eToro. Ultimately the platform holds a US license, so this should tell you that it complies with IRS, CFTC, NFA, and SEC tough laws. Look no further than this for the best platform for investing in Bitcoin with eCheck in the US.

eToro Fees

Commission 0%
Deposit charges 0%
Withdrawal charges $5 for bank transfers only
Extra fees $10 per annually after a year of inactivity


Pros Cons
 User-friendly  $5 withdrawal fee
 Easy registration
 Has a demo account


67% of all retail investor accounts lose money when trading CFDs with this provider.

2. Paxful

Paxful, formerly (EasyBitz) is a peer-to-peer digital wallet provider and exchange for cryptocurrencies. In other words, the platform is a place where buyers and sellers of virtual currencies can meet and transact. You won’t find any other coins on this platform apart from Bitcoin, Ethereum, and Dogecoin. This means the crypto provider has fairly limited options compared to competitors like eToro, Binance, or Coinbase. It has grown a customer base of more than 2.5 million globally since it was set up in 2015. The company’s headquarters are in New York, with other offices globally in Hong Kong, the Philippines, and Estonia.

People love Paxful because of the multiple payment options on the platform. It has more than 350 payments methods, including cryptos, e-wallets, and bank transfers. The unique aspect of the exchange is that it only brings sellers and buyers together but does not directly sell and buy the coins. To enhance security in peer-to-peer business, Paxful offers escrow services, where it holds vendors’ coins until they confirm payment. Afterward, it sends the virtual currency to the buyer’s wallet. In case either party cancels the trade Paxful escrow returns the coins to the seller’s accounts. There is a moderator in the platform to handle buyer-seller disputes whenever they arise.

Buying Bitcoin with eCheck on Paxful might be more expensive than competing platforms. Sellers set their own margins, and this can usually go to as high as 50%. You can take advantage of the crypto fee calculator. Although there are many options to choose from, the average buying price for digital currencies on this platform is still expensive. You may want to consider alternative exchanges if you’re buying the virtual asset for investments purposes. There is no typically what we would call instant transactions on Paxful.

That doesn’t mean you have to wait for a long time to complete a trade. Influencing factors for how long a sale lasts include the availability of sellers accepting your payment options, specific vendors’ terms and conditions, and the payment method that you want to use. For example, you can buy Bitcoin on Paxful in under ten minutes using methods like PayPal, Skrill, Neteller, and Google Wallet. Merchants must receive payments before releasing coins to you. So the faster the money transfer method, the quicker you will get Bitcoins in your wallet.

It’s easy to open a Paxful account even if it’s your first time trading Bitcoin. The user interface is also friendly and easy to use for regular investors. Beginners may not find Paxful so user-friendly. But one can quickly learn how to use the platform to buy Bitcoin in the US with eCheck. Paxful offers limited customer support. Beginners may feel frustrated when it comes to contacting Paxful. There is no email support or phone number that one can use to reach Paxful. The live-chat bot takes you in circles when it can’t comprehend the nature of your problem. This is a severe challenge that the exchange should address if they want to meet the needs of pro-crypto investors. The rapid movement of Bitcoin is not friendly to slowness.

You don’t want to make a huge loss because you ran into a problem, and it took a whole week for your broker to address it. Compared to eToro, Paxful has a lot of limitations. The cost of trading, lack of proper customer support, and the time it takes to make a transaction are all challenges that you may want to stay away from. There is also a possibility of being defrauded. Even though the chances are minimal, we cannot rule them out.

Paxful Fees

Commission 0%
Deposit charges 0%
Withdrawal charges Normal network fee
Extra fees 0%


Pros Cons
 Over 300 payment methods  Limited investing options
 Low transaction fees
 Safe and secure


67% of all retail investor accounts lose money when trading CFDs with this provider.

eToro- Buy Bitcoin with eCheck Commission Free

1. Sign-up with eToro

eToro - Join now

eToro is the best platform for buying Bitcoin with eCheck in the US 2022. Visit its website and hit the “Join Now” button to complete your first step of investing in Bitcoin with eCheck. Registration is free and fast. All you need is a username and a secure password to join the eToro community of investors.


You can now use your credentials to log in to your new eToro platform. You don’t need to make any modifications to the platform. It comes ready for use. All you need to do is to complete your profile to avoid running into a glitch in the future.

2. Provide KYC information

eToro verify The US government is stringent on unregistered Bitcoin transactions. All brokers must share information about their customers with IRS and CFTC. It’s a regulatory requirement for brokers like eToro to ensure they are only providing their services to law-abiding citizens in the US. The most common way all brokers use to confirm the legal status of their clients is the traditional Know Your Customer (KYC) procedure. eToro will require you to submit a scan of any government identification document and proof of address. A recent bank statement of six months old or less is a valid proof of address. It should be carrying the physical address that you’re confirming and should be under your legal name. eToro has an artificial intelligence system that verifies your account within ten minutes of submitting your KYC documents. You’ll be ready to trade once you pass this stage successfully.

3. Fund your eToro wallet

eToro deposit

It’s time to fund your account now that it’s verified. This is the last stage before investing in Bitcoin with eCheck. Go to eToro, and hit the “Deposit” button. A payment page will pop out with five ways to buy the digital asset with eToro. They include PayPal, Skrill, Neteller, Debit/Credit cards, and Bank Transfer. Choose Bank Transfer. eChecks are processed by the bank from your account to the receiver’s account. So they are bank transfers, in case you were wondering. Link your bank account to your eToro wallet and fund your eToro account with an eCheck. Simply fill the eCheck form from eToro, and submit it to start the Automated Clearing House process. The amount you deposited will be deducted from your account automatically and funded to your eToro account. This process takes a day to three days, depending on your bank. In some rare cases, it could go to five days before completion.

4. Buy Bitcoin

You’re 100% set to buy Bitcoin once the money reflects in your eToro account. Go to Bitcoin, and select “Trade.” You now need to decide how much you want to spend out of your eToro account balance. It’s not wise to put all the money in one trade. Instead, split your funds into small amounts to spread your risk thin. Don’t be scared by the high price for one Bitcoin. eToro allows a minimum deposit of $50 in the US and $200 in other nations, and from that, you start buying Bitcoins from as low as $25.


eChecks are a fast, secure, and convenient method of putting your money in Bitcoin. Find a regulated broker in the US to purchase Bitcoin in US according to the IRS and CFTC regulations. No platform beats eToro when it comes to digital assets trading. Take advantage of eChecks to fund your eToro account and start investing in Bitcoins with eCheck in the US today. Go to eToro now and begin buying Bitcoin with eCheck 2022 now. – Best Platform to Buy Bitcoin with eCheck

Mobile AppYes
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly


How to Buy Bitcoin with eCheck in the US 2022?

What is the regulation around buying Bitcoins with eCheck in the US?

Is it safe to buy Bitcoin with eChecks?

Is it profitable to invest in Bitcoin using eChecks?

How long does it take to buy BTC in the US with eChecks?

About Eugene Abungana PRO INVESTOR

Eugene Muyonga Abungana is an investment analyst, forex trader, MQL programmer, and financial writer. He is a graduate in economics and finance and currently pursuing studies in sustainable retirement investments. In addition, he has a background in literary journalism and experience in private fund management, institutional trading, and online broker setup. Eugene is a specialist at breaking down complex finance and investment topics into a simple read for everyone.