Can I Buy Bitcoin with Wise?

Yes, you can use Wise to buy Bitcoin, but not in a direct way. Wise allows you to transfer money to crypto exchanges that support your local currency, like USD, EUR, or GBP. After sending the funds from Wise to a regulated exchange, you can then purchase Bitcoin, Ethereum, or any other cryptocurrency available on that platform. 

How to Buy Crypto with Wise

Wise users looking to buy cryptocurrencies like Bitcoin or Ethereum can easily do so through Bybit, a regulated exchange available in over 160 countries. Bybit offers 1,400 crypto assets and accepts a variety of payment methods, including bank transfers via Wise, Wise debit or credit cards, and even Apple Pay or Google Pay.

Here’s a simple guide to purchasing crypto with Wise via Bybit:

1. Sign Up for Bybit: Create an account on Bybit and go through the verification process.
2. Transfer Funds via Wise: Go to the ‘Assets’ section on Bybit, choose your preferred deposit method, and transfer money from your Wise account using USD, EUR, GBP, or another supported currency.
3. Select Your Crypto: Once your funds are deposited, search for the cryptocurrency you want to buy and ensure it matches the currency of your deposit.
4. Complete the Purchase: Input the amount you want to buy, review the transaction, and finalize the purchase.

What are the Fees?

When using Wise to fund your account, fees will depend on the payment method. Depositing with a Wise debit card comes with a 2.99% fee, set by the card issuer (VISA), not the exchange. To minimize costs, it's recommended to use Wise for bank transfers, which are generally free.

Bybit offers lower trading fees than many exchanges, with spot trading fees at 0.1% and futures fees as low as 0.02% for makers and 0.055% for takers. In contrast, platforms like Crypto.com can charge up to 2% per trade, making Bybit a more cost-efficient choice.

Wise Cryptocurrency Policy

Wise supports cryptocurrency purchases by allowing transfers to regulated exchanges, though it doesn't offer direct crypto services. The only restriction Wise enforces is that it doesn’t accept withdrawals from Binance into Wise accounts.

However, Wise works with exchanges that comply with major regulatory bodies such as the UK’s Financial Conduct Authority (FCA), the US Financial Crimes Enforcement Network (FinCEN), and ESMA across the European Union.

This ensures that crypto-related transactions are secure and in line with anti-fraud and anti-money laundering regulations.

About Wise

Wise, formerly TransferWise, is a global service that makes sending money internationally easy and affordable. You can transfer money in over 50 currencies, use the Wise Multi-Currency Account to hold and convert funds, and spend worldwide with the Wise Debit Card at real exchange rates.

It’s known for transparency, showing all fees upfront, making it a go-to for personal and business payments. The bank is also considered pro-crypto, with no history of banning or blocking customer accounts that were found to be investing in digital assets.

Bottom Line

In short, Wise makes it easy to buy Bitcoin by transferring funds to regulated exchanges like Bybit. While Wise doesn’t directly offer crypto services, it supports transfers in multiple currencies, giving users a simple and secure way to invest. 

With Bybit’s low fees and Wise’s transparent pricing, it’s a solid option for anyone looking to buy crypto while staying compliant with global regulations.