Summary: Remitly, while not directly handling cryptocurrency transactions, serves as a channel for users aiming to explore the crypto landscape. By utilizing Remitly, individuals can easily fund accounts on compliant exchanges to invest in various digital assets with USD, CAD, EUR and other currencies.
After a thorough examination of available platforms, Kraken shines as a top choice for Remitly users. Adhering to regulations in areas where Remitly operates, Kraken facilitates seamless transfers and provides access to over 200 cryptocurrencies, along with options for margin trading and staking.
Can You Buy Crypto with Remitly?
Yes, Remitly provides its users with the opportunity to invest in Bitcoin and other cryptocurrencies through their Remitly accounts. Individuals looking to purchase digital assets such as Bitcoin, Ethereum, or other altcoins must create an account on a crypto platform compatible with Remitly for deposits in US Dollars, Euros (EUR) or other supported currencies. Ensuring the selection of a platform governed by a recognized financial regulatory body in your jurisdiction is crucial to guarantee the safety and compliance of the transaction.
How to Buy Bitcoin and Crypto with Remitly
If you seek to invest in Bitcoin or other digital currencies utilizing Remitly, it's vital to pick a reputable exchange regulated in the jurisdictions where you operate. Among the various options, Kraken emerges as a superior choice through careful evaluation. When using Kraken with Remitly, you can smoothly conduct deposits (via bank transfer or card) and access a wide array of over 200 cryptocurrencies, diverse staking possibilities, and the assurance of compliance with global financial markets regulators.
Here's a clear and simple guide to embark on your crypto investment journey:
- Register on Kraken and complete the identity verification procedures.
- Head to the 'Add Funds' area, commonly situated at the upper part of your dashboard.
- Select your currency (e.g. USD, CAD, GBP & more), and initiate a transfer employing your Remitly account or card.
- After your balance reflects the deposited sum, locate the digital currency you aim to buy and finalize your acquisition.
What are the Fees?
When purchasing cryptocurrencies with Remitly, understanding the associated fees is crucial. These can include deposit, withdrawal, trading, and spread charges, and may vary between different exchange platforms.
Kraken's fee structure is notably competitive, especially for those using Remitly. With free deposits and trading fees ranging from 0.16% to 0.26% for maker-and-taker trades (based on your 30-day trading volume), Kraken often stands out as a more attractive option. In contrast, other platforms like Coinbase charge up to 2% per trade, further highlighting Kraken's appeal for clear and competitive pricing when buying cryptocurrencies.
Is Remitly Crypto-Friendly?
Remitly accommodates users who wish to invest in Bitcoin and other digital currencies by allowing transactions with regulated exchanges. Such platforms are required to comply with the regulatory guidelines put forth by relevant authorities in the jurisdictions where Remitly operates.
This approach ensures that Remitly's customers can interact with platforms that conform to both local and international regulations (e.g. FinCEN and the FCA), mitigating risks associated with financial malpractices like money laundering and fraud. For those who choose to use Remitly for their cryptocurrency investments, there is an assurance that their financial activities are not just secure but are conducted with complete adherence to the prevailing legal norms.
Remitly is a well-known financial services company that specializes in international money transfers. With its headquarters in Seattle, Washington, USA, Remitly has established itself as a go-to solution for sending money across borders. Serving millions of customers worldwide, Remitly focuses on providing fast, affordable, and secure ways to transfer funds. The company leverages advanced technology to facilitate various financial products and services, including mobile transfers, thereby making international remittances more accessible and convenient for a global clientele.
In conclusion, Remitly has firmly positioned itself as a crypto-friendly channel for individuals looking to invest in digital assets such as Bitcoin and Ethereum. By facilitating smooth transfers with compliant exchanges, like the highly recommended Kraken, users can easily fund accounts with various currencies and explore the diverse crypto landscape. With competitive fees and adherence to stringent regulations, Kraken stands out as a top choice for Remitly users seeking a secure and compliant way to invest in over 200 cryptocurrencies.