Fortunately, that is changing as more and more money transfer platforms allow for easier and better Bitcoin purchases. These institutions becoming increasinglyBitcoin-friendly is an excellent sign for the crypto market. Today, we’ll be looking at a digital payment provider at the forefront of this change in mentality, Transferwise. So just how does it work? Read on and find out!
1. Open an Account with Wise
2. Choose a Bitcoin Platform
But always make sure the platform lists Wis as the payment option. Fortunately, most do.
3. Type the Amount of Bitcoin to Buy
4. Select a Bitcoin Dealer
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5. Ask for the Dealer’s IBAN
Now that you’ve made sure the sellers accept Wise, ask for his IBAN so you can transfer the amount to their bank account.
6. Go to Transferwise Website or Application
Now go back to your Wise account and set up your payment by entering the amount and the seller’s IBAN
7. Send the Amount
First, enter the seller’s details. So their name, address, bank account details, how they want to pick their money, and other information. And choose how to fund the purchase, be it credit, debit card, or bank transfer.
Binance is one of the biggest crypto exchanges on the market. Made for experienced traders and rookies alike.
- Among the most trustworthy crypto exchanges
- High volume exchange
- Very low fees
- A wide array of crypto pairs
- Not many payment options
- Lack of riskier small-cap gems
- The exchange is centralized
The platform is used to buy and offer Bitcoin at a specific price not bound to market fluctuations.
- Top-notch Security
- A lot of payment methods
- Simple user interface (UI)
- Wide variety of sellers
- Sometimes fees are very high
- If you’re not careful, you risk getting scammed
LocalBitcoins is a P2P bitcoin trading platform where buyers of sellers can list their Bitcoin offerings.
Like Paxful, on LocalBitcoins, vendors can create offers in all currencies and enjoy the benefits of a P2P exchange.
- Available all around the world
- A diverse selection of buyers and sellers
- Has many payment methods
- Buyers receive bitcoins fast
- All transactions are private
- There isn’t much diversity as the only Bitcoin is offered
- Both sellers and buyers have a chance of being scammed.
- Low fees
- Exchange crypto with fiat, credit/debit card, or cryptocurrency
- Regulated and trustworthy platform
- The exchange is centralized.
- Crypto.com exchange is not available to U.S. residents.
- Completely decentralized
- It does not require identity verification
- Accepts Fiat payments
- It’s only been on the market since 2016
Currencies Supported For Sending And Receiving Money
Clients can use the following FIAT currencies for sending and receiving money on Wise:
AED, AUD, BGN, BRL, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, INR, JPY, MYR, NOK, NZD, PLN, RON, TRY, SEK, SGD, USD
Countries You Can Send Money To With Transferwise
TransferWise customers can send and receive money to bank accounts in the following countries: Argentina, Australia, Bangladesh, Benin, Brazil, Bulgaria, Burkina Faso, Canada, Chile, China, Colombia, Croatia, Czech Republic, Denmark, Egypt, Europe, Georgia, Ghana, Guinea-Bissau, Hong Kong, Hungary, India, Indonesia, Israel, Ivory Coast, Japan, Kenya, Liechtenstein, Malaysia, Mali, Mexico, Morocco, Nepal, New Zealand, Niger, Nigeria, Norway, Pakistan, Peru, Philippines, Poland, Romania, Russia, Senegal, Singapore, South Africa, South Korea, Sri Lanka, Sweden, Switzerland, Thailand, Togo, Turkey, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Vietnam, and Zambia.
If you invest with Transferwise, please remember to always trade responsibly. And don’t invest more than what you are willing to lose. Now, good luck!
In case you are looking for different ways to buy Bitcoin, read the guide below:
CaptainAltcoin’s writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com