How to Buy Bitcoin with Bank Transfer in Omni

If you're planning a large Bitcoin purchase or simply prefer the security and familiarity of traditional banking systems, paying with a bank transfer offers the perfect bridge between conventional finance and cryptocurrency.

The good news is that Omni allows users to safely and easily buy Bitcoin using a bank transfer. Here’s how:

Step 1: Go to Google Play or Apple App Store to install the Omni Web3 Wallet app on your mobile device.

Step 2: Once the installation is complete, follow the onboarding process. You can either create a new wallet or import an existing one. 

Important: Make sure to write down your secret recovery phrase and store it safely offline. This recovery phrase is the only way to secure and regain access to your Bitcoin.

Step 3: Bitcoin is not enabled by default when you install the Omni app. To buy Bitcoin with bank transfer on Omni, tap on Manage Tokens, search for Bitcoin, and toggle it on to display BTC on your app’s home screen.

Step 4: Return to the home screen and select Bitcoin. Tap the down arrow to view your receiving address, then copy it. You will need this address to receive your Bitcoin from Ramp.

Step 5: Return to the home screen and tap Buy. This will open Ramp, Omni’s trusted crypto onramp partner. Next, choose Bitcoin (BTC) as the asset you want to purchase. When asked for your deposit address, paste the Bitcoin address you copied earlier.

Step 6: Depending on your location, Ramp will show you the available bank transfer payment options for your region, such as SEPA, Faster Payments, ACH, or Bank Payment.

Step 7: Ramp will provide the bank details and transfer instructions you need to follow to ensure your payment is matched correctly. After reading the instructions, open your banking app and complete the transfer using the exact amount and reference code provided by Ramp.

Step 8: Once Ramp confirms your bank payment, the Bitcoin will be transferred directly to your Omni wallet. Depending on your bank and region, transfers may take from a few minutes to several hours.

FAQ

1. How long does a bank transfer take?

Typically within minutes. However, manual bank transfers take 2-3 business days to clear, depending on your bank. 

2. Are there additional fees?

A: Omni displays all applicable fees upfront before confirming your payment. However, be aware that your bank may charge its own transfer fees, which vary by institution. Check with your bank about outgoing transfer costs before initiating your purchase.

3. Can I use someone else's bank account?

A: No. For security reasons, the bank account name must match your verified Omni account. This policy protects both you and the platform from fraud, money laundering, and unauthorized transactions.