How does Wise work for sending money to buy cryptocurrencies?

3 answers

• Nov 26, 2021 · 3 years ago
  Sure! Wise, formerly known as TransferWise, is a popular online money transfer service that allows you to send money internationally at a low cost. When it comes to buying cryptocurrencies, Wise can be used to transfer funds from your local bank account to a cryptocurrency exchange. The process is simple: you create an account with Wise, link your bank account, and initiate a transfer to the cryptocurrency exchange. The funds will be converted to the desired cryptocurrency once they reach the exchange. As for fees, Wise charges a small percentage fee for the currency conversion, which is typically lower than traditional banks. However, it's important to note that cryptocurrency exchanges may also have their own fees for depositing and withdrawing funds.
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• Nov 26, 2021 · 3 years ago
  Wise is a convenient option for sending money to buy cryptocurrencies. With Wise, you can avoid the high fees and slow processing times associated with traditional banks. The platform uses a peer-to-peer system to match your transfer with someone else who wants to exchange currencies in the opposite direction. This helps to keep the costs low. To use Wise for buying cryptocurrencies, you'll need to have an account with both Wise and a cryptocurrency exchange. Once you've linked your bank account to Wise, you can initiate a transfer to the exchange. The funds will be converted to the desired cryptocurrency based on the exchange rate at the time of transfer.
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• Nov 26, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, supports Wise as a payment method for buying cryptocurrencies. To use Wise on BYDFi, you'll need to have a Wise account and link your bank account. Once you've done that, you can initiate a transfer from Wise to BYDFi to buy cryptocurrencies. The advantage of using Wise is that it offers competitive exchange rates and low fees compared to traditional banks. Additionally, Wise's fast and secure transfer process ensures that your funds reach BYDFi quickly and safely. So, if you're looking to buy cryptocurrencies on BYDFi, Wise is definitely a great option to consider.
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