What are some tips for using cryptocurrency to save on transferwise fees?

5 answers

• Dec 17, 2021 · 3 years ago
  One way to save on TransferWise fees when using cryptocurrency is to take advantage of the low transaction costs associated with digital currencies. Cryptocurrency transactions often have lower fees compared to traditional banking methods. By converting your funds into cryptocurrency and then transferring them through TransferWise, you can potentially save on fees. However, keep in mind that there may still be fees associated with converting your funds into cryptocurrency and then back into fiat currency.
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• Dec 17, 2021 · 3 years ago
  Another tip is to carefully choose the cryptocurrency you use for the transaction. Some cryptocurrencies have lower transaction fees and faster confirmation times compared to others. Research the transaction fees and processing times of different cryptocurrencies before making a transfer. This way, you can select a cryptocurrency that offers the best balance between low fees and quick transactions.
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• Dec 17, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers a feature that allows users to transfer funds directly to TransferWise with minimal fees. This integration simplifies the process and reduces the overall costs associated with transferring cryptocurrency to TransferWise. It's worth considering using BYDFi if you frequently transfer funds between cryptocurrency and TransferWise.
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• Dec 17, 2021 · 3 years ago
  If you're looking to save on fees when using TransferWise, consider using stablecoins. Stablecoins are cryptocurrencies that are pegged to a stable asset, such as the US dollar. They offer the advantage of low volatility and can be used as a medium of exchange without the risk of significant price fluctuations. By using stablecoins, you can minimize the impact of price fluctuations and potentially save on fees.
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• Dec 17, 2021 · 3 years ago
  One more tip is to take advantage of any promotions or discounts offered by cryptocurrency exchanges or TransferWise. Keep an eye out for special offers that can help you save on fees. Additionally, consider timing your transactions to take advantage of lower fee periods or times when network congestion is lower. This can help you optimize your cryptocurrency transfers and reduce fees.
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