For most small businesses, River or Swan offer the simplest onboarding with reasonable fees (~1%). For larger purchases or lower fees, Kraken (0.26%) is popular. Above $100K, consider OTC desks. Personal accounts like regular Coinbase or Cash App won’t work-you need a business account.
Buying Bitcoin as a business isn’t like buying personally. You can’t just use your personal Coinbase account and expense it.
You need:
- A verified business account
- Proper custody or withdrawal capability
- Transaction records for accounting
- ACH or wire capability from business bank account
Here’s how the main options compare.
Business Bitcoin Platforms Compared
| Platform | Min Purchase | Trading Fee | Custody | Wire/ACH | Best For |
|---|---|---|---|---|---|
| River | $100 | 1.0% | Included | Both | Simplicity |
| Swan | $10 | 0.99% | BitGo partner | Both | Auto-DCA |
| Kraken | $10 | 0.26% | Optional | Wire preferred | Lower fees |
| Coinbase Prime | $10,000 | 0.5% | Institutional | Wire | Larger purchases |
| Gemini | $100 | 0.5% | Available | Both | Compliance-focused |
River Business
Best for: Small businesses wanting simplicity
River is Bitcoin-only (no altcoins) and focused on long-term holders. Their business accounts offer:
- Onboarding: Submit EIN, articles of incorporation, owner ID
- Funding: ACH (3-5 days) or wire (same day)
- Fees: 1.0% flat on purchases
- Custody: Included, with optional withdrawal to your own wallet
- DCA: Automatic recurring buys available
Pros: - Clean interface, Bitcoin-focused - Good customer support - Straightforward for non-technical teams
Cons: - Higher fees than Kraken - Smaller company (some prefer larger exchanges)
Swan Business
Best for: Dollar-cost averaging strategies
Swan pioneered the “Bitcoin savings” approach. Their business offering:
- Onboarding: Business verification, usually 1-2 days
- Funding: ACH or wire
- Fees: 0.99% (with volume discounts)
- Custody: Partner with BitGo for institutional custody
- DCA: Core product - automatic recurring purchases
Pros: - Excellent for systematic buying - Educational resources included - Strong focus on custody security
Cons: - Custody through partner, not in-house - Best for recurring buys, not large one-time purchases
Kraken (Institutional)
Best for: Lower fees, larger purchases
Kraken offers institutional-grade services with significantly lower fees:
- Onboarding: More documentation required, 3-5 days typical
- Funding: Wire preferred (ACH limited)
- Fees: 0.26% (maker/taker model)
- Custody: Available but separate service
- Trading: Full order book, limit orders
Pros: - Lowest fees among major platforms - High liquidity - Professional trading interface
Cons: - More complex interface - Wire-focused (ACH limitations) - Less hand-holding
Coinbase Prime
Best for: Companies needing institutional pedigree
For companies needing the reassurance of a public company (Coinbase is NASDAQ listed):
- Onboarding: Thorough, multi-day process
- Funding: Wire only
- Fees: ~0.5% (negotiable at volume)
- Custody: Institutional-grade, SOC ½ certified
- Minimums: $10,000+ preferred
Pros: - Public company, audited - Insurance and compliance - Many large companies use it
Cons: - Higher minimums - Slower onboarding - Higher fees than Kraken
OTC Desks (Over-the-Counter)
Best for: Purchases over $100K
When buying large amounts, exchange order books create “slippage” - your large order moves the price. OTC desks solve this:
| OTC Provider | Minimum | How It Works |
|---|---|---|
| Kraken OTC | $100K | Dedicated desk, quoted prices |
| Coinbase Institutional | $100K | White-glove service |
| River Business (large) | Negotiable | Direct relationship |
| Galaxy Digital | $250K+ | Institutional focus |
Benefits: - Price quoted upfront (no slippage) - Dedicated account manager - Often better net pricing than exchange
What Documentation You’ll Need
Every platform requires:
| Document | What They’re Verifying |
|---|---|
| EIN / Tax ID | Business is real, registered |
| Articles of Incorporation or LLC docs | Legal structure |
| Proof of business address | Physical location |
| Authorized signer ID | Person making transactions |
| Bank statement | Account ownership |
Pro tip: Have these ready before starting. Missing documents are the #1 delay.
Funding Your Account
ACH (Automated Clearing House)
- Time: 3-5 business days
- Cost: Usually free
- Limits: Often $25K-100K per transfer
- Best for: Regular, planned purchases
Wire Transfer
- Time: Same day (if before cutoff)
- Cost: $25-50 per wire
- Limits: Higher or unlimited
- Best for: Large purchases, time-sensitive
Which to Use?
For regular DCA purchases under $25K: ACH For large one-time purchases over $50K: Wire
Step-by-Step: Your First Business Bitcoin Purchase
Step 1: Gather Documents
- EIN letter from IRS
- Articles of incorporation / LLC agreement
- Business bank statement (last 90 days)
- Your driver’s license or passport
Step 2: Choose Platform
- Simple + DCA → River or Swan
- Lower fees + larger amounts → Kraken
- Institutional pedigree → Coinbase Prime
Step 3: Apply
- Fill out business application
- Upload documents
- Wait for verification (1-5 days)
Step 4: Fund Account
- Link business bank account
- Initiate ACH or wire
- Wait for funds to settle
Step 5: Make Test Purchase
- Buy a small amount ($100-500)
- Verify it appears in your account
- Test withdrawal if using own custody
Step 6: Execute Strategy
- Make planned purchase
- Document for accounting
- Set up recurring if DCA'ing
Custody After Purchase
Where does your Bitcoin go after buying?
Option 1: Leave on Exchange
Simplest. Bitcoin stays with the exchange. Good for small amounts, but you’re trusting the exchange.
Option 2: Withdraw to Hardware Wallet
You control the keys. More secure, more responsibility. See our custody comparison.
Option 3: Qualified Custodian
Third party holds your Bitcoin with insurance and compliance. Good for larger amounts or companies needing audit trails.
Next Steps
- Decide on a platform based on your priorities (simplicity vs. fees)
- Gather documentation before applying
- Start small with a test purchase
- Read the full guide: Bitcoin Treasury Strategy for Small Companies
Track which companies hold Bitcoin at BitcoinCompanies.co.