I apologize if this question does not make sense.

But please correct me if I'm incorrect.

If someone has a US Bank with a positive balance and has created a wallet using the bitcoin core "bitcoin-wallet"

The person is running bitcoind or bitcoin-qt with the RPC server enabled.

Can you buy BTC directly?

I assume the person would have to find another peer themselves and make a peer to peer transfer. But that seems to be only BTC to BTC.

What about using US Bank USD money?

The answer might be you have to use an exchange. But let's say the person wants to hold custody of their private keys etc.

Also would you have to use a decentralized exchange to make the direct transfer from USD to buy BTC?

What are the steps to directly buy BTC with USD Bank Account to a non custodial wallet / address?

I apologize if I've misused the terms. And please correct any incorrect statements.


  • 1
    You can't "directly buy" anything - you buy something from a seller. That seller can be service, another user at an exchange, or someone you meet on the street. But you need to find someone who will take your USD and give you BTC in return. Dec 3, 2023 at 2:34
  • @PieterWuille thanks. Let's say you want to use a non-custodial wallet do you have to use a decentralized exchange? Basically how are non-custodial wallets bootstrapped with BTC Dec 3, 2023 at 3:13
  • What wallet you use, or what exchange you use, is irrelevant. Someone will have to send you BTC in exchange for USD, to whatever wallet that is. There are two independent transactions - someone sends the USD (between USD accounts, or cash), and there other party sends BTC (from a BTC wallet to a BTC wallet). Dec 3, 2023 at 3:16
  • Does How do you obtain bitcoins? answer your question?
    – Murch
    Dec 4, 2023 at 14:36

1 Answer 1


A (self-custodial¹) Bitcoin wallet chiefly manages your private keys, tracks your spendable funds, and keeps a record of Bitcoin transactions relevant to you.

Buying bitcoins requires finding a seller, agreeing on a price, and exchanging a payment in another currency. Often this involves some form of escrow since Bitcoin payments are irreversible, while almost all payments systems for transferring national currencies allow for payments to be reverted. Integrating with existing payment rails is out of scope for almost all Bitcoin wallet projects, so generally Bitcoin wallets do not have a feature for buying and selling bitcoins.

Many custodial services and a few wallets directly integrate with a brokerage or marketplace offered by the service or wallet software developer. Generally, these wallets address specific markets, and even if they allow users from other regions in the world to make accounts, the access to brokerage or marketplace is usually locked to regions in which the service is licensed.

Bitcoin Core only interfaces with the Bitcoin network and does not offer any form of marketplace. Generally users get a balance into their Bitcoin Core wallets by acquiring Bitcoin per an unrelated marketplace or service and then withdrawing to their Bitcoin Core wallet, or by getting paid for goods or services to their wallet.

¹ If you don’t have custody, it’s not a wallet, it’s an account.

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