How does Schwab handle wire transfers involving cryptocurrencies?

3 answers

• Dec 14, 2021 · 3 years ago
  Schwab does not currently support wire transfers involving cryptocurrencies. They only facilitate the transfer of traditional fiat currencies. If you want to buy or sell cryptocurrencies, you'll need to use a dedicated cryptocurrency exchange.
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• Dec 14, 2021 · 3 years ago
  When it comes to wire transfers involving cryptocurrencies, Schwab takes a cautious approach. Due to the volatile nature of cryptocurrencies and the potential for fraud, they have decided not to offer this service. This decision is in line with their commitment to ensuring the security and integrity of their customers' assets.
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• Dec 14, 2021 · 3 years ago
  As an expert in the field, I can tell you that Schwab is not the only financial institution that has chosen not to handle wire transfers involving cryptocurrencies. Many traditional banks and brokerage firms have made similar decisions due to the regulatory complexities and risks associated with cryptocurrencies. However, there are plenty of dedicated cryptocurrency exchanges that specialize in facilitating such transactions.
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