Can I use cryptocurrency to transfer money internationally with TransferWise?
amulreddy krDec 17, 2021 · 3 years ago3 answers
Is it possible to use cryptocurrency, such as Bitcoin or Ethereum, to transfer money internationally with TransferWise? How does TransferWise handle cryptocurrency transactions?
3 answers
- Dec 17, 2021 · 3 years agoUnfortunately, TransferWise does not currently support cryptocurrency as a payment method for international money transfers. TransferWise primarily focuses on traditional fiat currencies and does not have the infrastructure in place to handle cryptocurrency transactions. However, there are other platforms and services that specialize in cryptocurrency transfers, such as Coinbase or Binance, which you can consider using for your international money transfer needs.
- Dec 17, 2021 · 3 years agoNo, TransferWise does not accept cryptocurrency for international money transfers. TransferWise operates as a peer-to-peer currency exchange platform, allowing users to send and receive money in different currencies at competitive exchange rates. However, they do not support cryptocurrency transactions at this time. If you are looking to transfer money internationally using cryptocurrency, you may need to explore other options or platforms that specifically cater to cryptocurrency transfers.
- Dec 17, 2021 · 3 years agoWhile TransferWise does not directly support cryptocurrency transfers, you can still use cryptocurrency to transfer money internationally by converting it to a fiat currency supported by TransferWise. You can sell your cryptocurrency on a cryptocurrency exchange, such as BYDFi, and then transfer the funds to your TransferWise account. Once the funds are in your TransferWise account, you can proceed with your international money transfer as usual. Keep in mind that this process may involve additional fees and may not be as seamless as using traditional fiat currencies directly with TransferWise.
Related Tags
Hot Questions
- 99
What is the future of blockchain technology?
- 98
How can I buy Bitcoin with a credit card?
- 92
How can I protect my digital assets from hackers?
- 72
What are the tax implications of using cryptocurrency?
- 69
Are there any special tax rules for crypto investors?
- 47
What are the best digital currencies to invest in right now?
- 33
How does cryptocurrency affect my tax return?
- 17
How can I minimize my tax liability when dealing with cryptocurrencies?