Bitcoin Forum

Hi so I want to buy some more Bitcoins and the money will be in Well Fargo US. I am a Chinese citizen living in the US as a student on F1 visa. The wells fargo account is under my name and I have a verified Binance.com account. What is the best way to buy? I have used epay.com before but they charge 1 percent.

Hello,
I am not wrong then using Binance you can do bank deposit. Binance is one of the best around for trading but I never tried their fiat deposit option. Looking at their reputation in the industry this should be good too.

Or you can use Coinbase, Coinmama, CEX.io etc

Do you have any Bank account aside from Wells Fargo?

Because as far as I know that Bank company didn't allow transactions related to crypto. Read it here, https://twitter.com/Ask_WellsFargo/status/1149728891059261441.

Since you are verified from the Binance exchange platform I highly recommend them since so far they are the most reputable crypto exchange site as of now. Read it here on how to buy Bitcoin in Binance, https://www.binance.com/en/buy-Bitcoin.

Have you used your chinese passport to verify your Binance account? because as far as I know, visa's are not considered as a valid verification (https://bitcointalk.org/index.php?topic=5200286.0) document.

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EDIT: So I searched a bit, and apparently, Coinbase (one of the best U.S exchanges) should allow[1][2] F1 visa holders to buy/sell BTC. As for Binance, since you're in the U.S now, you would probably need to use the U.S version[2] instead, but I would still suggest you contact the support, just to be safe.

[1] https://www.reddit.com/r/Bitcoin/comments/7j71gw/f1_visa_and_tax_issue/
[2] https://www.quora.com/Can-a-US-F1-visa-holder-purchase-a-bitcoin-legally
[3] https://www.binance.us/

I think the most convenient way for you is to set up a Coinbase account and have it verified. Luckily they accept a lot of Identification Cards so maybe the ID issued by your school will be accepted by them. Although sheenshane is right I've heard that Wells Fargo isn't accepting any crypto related transactions from them so what I would advise is for you to create a new bank account which is also recognized by Coinbase for their deposits but do also check first if they have Wells Fargo under them before you start looking for a bank, there is a chance that Wells Fargo are not blocking crypto related transactions by them.

What is wrong with Binance..? I guess they approve bank also (depends on) and if your amount are more than 2 BTC then they will ask you for KYC. You can also try which exchanges are legal in USA like Kraken, Binance US or Coinbase/Coinbase pro. Those are really good and trusted exchange for trade BTC through bank. If you are suffering about fees then i will recommend this forum. Many reputed person buy/sell BTC here. You can contact with them and give them your proposal (deal with only reputed person).

As others already said, Coinbase and Binance are a good choice.

If you encounter any problems related to your VISA or any other documents there, I will suggest Bitstamp. I used bitstamp a lot about 2 years ago. I made many SWIFT deposits there and never had any problems.

You could easily buy Bitcoin in one of the most popular trusted sites such as Coinbase then deposit it in Binance if you wanna trade it to other pairs or directly convert it to USD, you can use Coinbase itself and send it to Well fargo account of yours. If you want to buy anonymously you can try Bitcoin ATM's because it doesn't need personal identification.

Why are some people telling me to use coinbase when I am complaining about 1 percent fee already. Also, binance.com does not have USD deposit I saw

Why not try P2P trading? I think there are several members here who can sell you some bitcoins (don't forget to use escrow). They might be able to negotiate the fees for you.

Alternatively, you can use localcryptos. Especially if you don't want to do some KYC.

Coinbase? I mean whatever you do the charge will be very difficult, it is literally why we are moving towards bitcoin and not use cash you know why? Because putting dollars into coinbase costs a lot, or epay or somewhere else, since they have to work with banks and they charge a lot, however when you look at bitcoin you can move bitcoin from one nation to whole another nation and still pay a lot less.

I think as long as you can afford to, just eat up the extra charges and be done with it, I know you are going to have to pay a big charge but that will be just once (and maybe while withdrawing to your bank when you are done). So, just accept your fate and do it however you find, there is not really all that better options, just slight differences.

I think you might need to open a separate account at Binance US and then just use the same bank as they do there. Or Coinbase, these are the two options everyone seems to agree is the best. But if 1% puts you off, you'll hate Coinbase.

At some point Gemini was a good recommendation too. It was the first crypto exchange to get a Bitlicense so you won't go wrong there.