Can I Buy bitcoin With a Checking Account?

Yes, you can buy bitcoin with a checking account from Swan Bitcoin. With several cryptocurrency exchanges coming under intense scrutiny in recent times and with all the stories of contagion and bankruptcies occurring in the digital asset markets, trusted parties are harder and harder to come by.

Swan Bitcoin flies against the misconception of overleveraged brokers by providing best in-class solutions for their Bitcoin-only customers. Let’s take a closer look at Swan and see what makes them unique in such a crowded market.

And for those new to Bitcoin, you don’t have to spend ... to get started. You can easily purchase smaller amounts, over time, as low as $10.

Who is Swan Bitcoin?

Led by veteran Bitcoiner Cory Klippsten, Swan Bitcoin is a California based company with a clear goal in mind: to onboard 10 million people into Bitcoin. Forget the hype and overcomplication of today’s crypto exchanges, Swan Bitcoin offers a reliable user-friendly platform for buying Bitcoin at your own steady pace.

On top of this, Swan Bitcoin helps customers level up their Bitcoin knowledge thanks to their informative blog posts and thematic rabbit hole guides. They also host one of the best podcasts in the Bitcoin space: Swan Signal.

Buy bitcoin With a Bank Account

If you’re looking to buy bitcoin with a bank account, then Swan Bitcoin may just be the platform for you. Their simple integration tool with US bank accounts makes it extremely easy to set up automatic recurring purchases.

Note that this function is only possible to owners of US bank accounts. However, at the time of writing, Swan is testing a workaround with payment processor Wise to help non-US customers get access this convenient service.

Free bitcoin

If you’re interested in signing up for a free account with Swan, you can use our link to receive $10 worth of free bitcoin: https://www.swanbitcoin.com/BitcoinCandor

Recurring Buys

Dollar cost averaging into bitcoin has proven time and again to be an efficient way to build up your bitcoin holdings while mitigating the effect of short-term price volatility. Swan’s best-in-class bank integrations make this a true set-and-forget customer experience, allowing you to adopt a low-time preference and focus on bitcoin savings instead of chasing market moves.

Recurring buys however can quickly lead to a large number of UTXOs, which in turn can cause unwanted headaches when it comes to future transactions on the blockchain. If you’re intending on purchasing smaller amounts of bitcoin as you start out on your journey to self-sovereignty, it may be wise to get acquainted with Swan’s custody policy while you get to grips with proper UTXO management.

Traditional and Roth IRAs

Investing in Bitcoin is an exciting way to grow your wealth, but did you know that you can also do it in a tax-advantaged way with Swan IRA? With Swan IRA, you can hold real Bitcoin, not proxies, in a tax-advantaged account that’s secured by enterprise-grade custody with BitGo Trust Company and Fortress Trust, qualified custodians. You can choose between Traditional and Roth IRAs to suit your retirement goals, and the onboarding process is easy and fast, taking less than 60 seconds. Their simple and transparent fees make it easy to understand how much you’re paying, and their Customer Success team is always ready to answer your questions about Bitcoin and your IRA. Keep in mind that taxes might apply for Traditional and Roth IRAs, so be sure to speak with your Swan representative and consult with your CPA for details.

Swan’s Custody Policy

Swan advocates for self-custody whenever possible, but in certain circumstances that may not be possible or economically feasible. For this reason, Swan has partnered up with BitGo Trust Company and Fortress Trust, two qualified and regulated custodians in the digital asset industry.

Thanks to this partnership, Swan is incapable of engaging in shady operations with customer funds, a best practice certain other crypto exchanges and companies could certainly learn from.

Security is of course, something that Swan Bitcoin takes very seriously, and they recommend that customers use 2 Factor Authentication (2FA) to further protect their accounts.

Low Fees

Swan Bitcoin understands the needs of their customers and offers an attractive fee schedule for their bitcoin purchases. The commissions are set at 0.99% for all purchases and sales. Unlike many other exchanges and brokers though, Swan Bitcoin does not charge any additional hidden fees for account inactivity, withdrawals (whether in bitcoin or fiat) or for their custody services.

Tax Loss Harvesting

There is however one particular service that Swan Bitcoin offers to their Swan Private clients that requires an additional fee. Tax loss harvesting is a specialized technique whereby clients can request Swan to sell their bitcoin at a loss, and then buy it back. This technique is often used to book losses on tax returns. Note that this is a case by case request, performed exclusively during office hours and that Swan Bitcoin cannot provide tax advice.

Whether you’re a high net worth individual with special considerations, or you’re running a company that’s looking to incorporate Bitcoin into your treasury, do consider looking further into Swan Private for expert advice on all things Bitcoin.

The Gift of bitcoin

Swan Bitcoin offers a unique feature that allows its members to gift bitcoin to their friends. This not only helps spread awareness about the platform, but also introduces more people to the world of Bitcoin. The recipient of the gift will either need to sign up for a free account or be an existing member of Swan Bitcoin to receive it, but it’s an excellent way to get started on the platform.

Yan Pritzker, the co-founder and CTO of Swan Bitcoin, has written a book called “Inventing Bitcoin” which provides a comprehensive guide to Bitcoin and its underlying technology. The book is an excellent resource for anyone looking to understand Bitcoin in depth, and is highly recommended for both beginners and experts alike. As a gift to our readers, we’re offering a complimentary copy of Yan Pritzker’s book, which you can get here.

Take Control

There are significant distinctions between a traditional cryptocurrency exchange and a platform that believes in bitcoin only purchases. Both Swan Bitcoin and Bitcoin Candor advocate for self-custodying your bitcoin. Learn more about securing your bitcoin with a wallet today: What is a bitcoin wallet?

We’re excited to have you join us on this journey and we look forward to helping you understand the true appeal of Bitcoin and all the freedom it can bring with it. Our partners and resources include affiliate relationships with companies we trust and believe in, to ensure that you have the best experience possible. Thank you for choosing our website as your go-to resource for all things Bitcoin.