Transferwise, or now known as Wise (as of March 2021), is an international money transfer service provider. Transferwise knows no borders as its motto is to offer limitless money transfer services to its users.
In addition, the platform is a multi-currency checking account that allows you to transfer and / or transfer different currencies more easily. Since you’ve heard of cryptocurrencies and are interested in buying Bitcoin, you can buy them using Transferwise.
Make buying Bitcoin easier with Transferwise by limiting the transaction to a few steps. Given the steadily growing popularity of Bitcoin, many international payment service providers are making it their business to offer users new and reliable solutions for buying Bitcoins.
And Transferwise is one of those solutions. Whether you want to buy bitcoins on P2P exchanges or brokerage platforms, Transferwise has made securing your Bitcoin purchase a lot easier.
Is transfer mode legitimate?
With a Credibility and Safety Score of 9.4 / 10, Transferwise is a large and trustworthy international money transfer company that follows the strict rules and regulations of every country in which it provides its services.
The company screens and verifies its users to protect itself and users from fraud, fraud, or money laundering activities. You can use the Transferwise MasterCard debit card or sign up for their borderless account to create a virtual bank account in different countries and send and receive payments in 40 currencies at the same time.
Their feature of the best exchange rate, which is even better than the bank exchange rates, provides the users with extremely competitive rates. In addition, Transferwise offers transparent services by notifying you of the fees (which are much lower) before the transfer is made.
How do I buy Bitcoin with Transferwise?
To get started, you need to do the following:
1. Open an account with Transferwise
If you already have a Transferwise account, just log in with it and skip this step.
If you don’t have a Transferwise account, log in to them with your email address. You can also sign in with your Facebook or Gmail account. Transferwise will ask for your required credentials to verify you are an authentic user.
2. Choose a Bitcoin platform
Either you opt for a P2P platform Buy Bitcoin with Transferwise from merchants who have set their desired rates on bitcoins and money transfer options, or you can opt for other exchange options.
Whichever platform you choose, make sure that Transferwise is supported as a payment option. Typically, P2P platforms with multiple payment options are more flexible.
3. Enter the amount of Bitcoin to buy
Enter the amount of Bitcoin you want to buy and the platform will display a list of sellers in the currency you would choose.
4. Choose a bitcoin trader
To Buy Bitcoin with TransferwiseA list of Bitcoin sellers will appear on the platform you selected. Choose the one that suits you best and click on the trade ad. Read the terms and conditions stated by the seller.
Determine whether the seller still meets your criteria. The sellers usually mention the payment options in their ads. So it would be no problem to find a seller who accepts Transferwise.
5. Ask for the merchant’s IBAN
If the seller accepts the Transferwise method, they will provide you with their IBAN to transfer the amount to their bank account.
6. Go to the Transferwise website or application
Return to your Transferwise account and set up your transfer. Enter the amount you need to send to the seller and the destination where you want it to be received. This is the step where you will see the best exchange rates available to you.
7. Submit the amount
Enter the details of your beneficiary (the seller), including their name, address, bank account details, how they would like to select their funds, and other information. Then choose how you want to finance your transaction (credit, debit card or bank transfer).
Within a few clicks, Transferwise sends your amount to the seller.
8. Get your bitcoin
As soon as the transaction is successful and the seller has received the payment, the online platform forwards the bitcoins to your e-wallet.
Transferwise is safe and reliable for your Bitcoin ventures. To Buy Bitcoin with Transferwise requires few safe and quick steps.