How to Buy Crypto with Remitly

Can You Buy Crypto with Remitly? 

Yes, you can buy crypto with Remitly. To do this, you need an account at a crypto platform that accepts Remitly deposits. When you have that, you can deposit funds in US Dollars, Euros (EUR), or other supported currencies. It's important to choose a platform regulated by a recognized financial authority in your area to ensure safety and compliance.

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How to Buy Crypto with Remitly

To use Remitly for buying Bitcoin or other digital currencies, you need a reputable, regulated exchange. Kraken is a top choice, available in over 150 countries. With Kraken, you can deposit funds easily and access over 200 cryptocurrencies. Kraken ensures compliance with global financial regulators.

Here's a simple guide for your crypto investment:

1. Register on Kraken: Visit the Kraken website and complete the identity verification process.
2. Add Funds: Find the 'Add Funds' area at the top of your dashboard.
3. Select Currency: Choose your currency (e.g., USD, CAD, GBP) and transfer funds using your Remitly account or card.
4. Buy Crypto: Once the deposit reflects, find the digital currency you want and make your purchase.

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What are the Fees?

When buying cryptocurrencies with Remitly, it's important to know the fees involved. These might include deposit, withdrawal, trading, and spread fees, which can differ by exchange.

Kraken offers competitive fees, especially for Remitly users. Deposits are free, and trading fees range from 0.16% to 0.26% for maker-taker trades, depending on your 30-day volume. By comparison, other platforms, like Coinbase, can charge up to 2% per trade. This makes Kraken an attractive choice for clear and competitive pricing when buying cryptocurrencies.

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Is Remitly Crypto-Friendly? 

Remitly, based in Seattle, USA, is a top choice for international money transfers. It supports users who want to invest in Bitcoin and other cryptocurrencies through regulated exchanges.

These platforms must follow guidelines from authorities where Remitly operates. This ensures customers deal with exchanges that meet local and international rules, such as those from FinCEN and the FCA. This setup reduces risks like money laundering and fraud. Using Remitly, you can feel secure knowing your crypto investments comply with legal standards.

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Bottom Line

Using Remitly to buy crypto is straightforward and secure. Find a regulated exchange like Kraken, deposit funds, and make your purchase. With competitive fees and adherence to regulatory standards, Remitly offers a reliable way to invest in cryptocurrencies. Follow the steps, and ensure your transactions comply with financial laws for a safe investment experience.