How to Buy Crypto with Wise

Can I Buy Bitcoin with Wise?

Yes, you can use Wise to buy Bitcoin, though not directly. Wise allows you to transfer money safely to regulated cryptocurrency exchanges. You can send currencies like USD, EUR, and GBP from Wise to your exchange account. Once the funds arrive, you can purchase Bitcoin and other cryptocurrencies like Ethereum and Solana. This method ensures your transactions are secure and compliant with regulations.

‍

How to Buy Crypto with Wise

For Wise users interested in buying cryptocurrencies, eToro is a reliable options. This globally regulated trading platform operates in over 100 countries and accepts transfers from Wise, including via bank and debit cards. eToro offers more than 4,500 assets, including various digital assets, stocks, and Bitcoin ETFs.

To start investing in cryptocurrencies on eToro using Wise, follow these steps:

1. Account Activation: Register and verify your eToro account.
2. Account Funding: Go to the 'Deposit' section on eToro’s platform, typically found in the lower-left corner.
3. Currency and Payment Method Selection: Choose your deposit currency (EUR, USD, etc.) and select a Wise-linked payment method.
4. Cryptocurrency Investment: After funding your account, use eToro’s search function to find and invest in your chosen cryptocurrency or Bitcoin ETFs.

‍

What are the Fees?

When buying Bitcoin or other cryptocurrencies with Wise, understanding the associated fees is crucial. These fees may include deposit and withdrawal costs, transaction charges, and price spread variations.

For Wise users, eToro is a cost-effective choice for cryptocurrency investments. It supports various currencies, making it suitable for Wise users worldwide. eToro charges a 1% variable spread on cryptocurrency trades, which is lower compared to other platforms like Coinbase, where spread fees can exceed 2%.

‍

Is Wise a Crypto-Friendly Bank?

Yes, Wise is cryptocurrency-friendly, providing a simple way for users to buy cryptocurrencies like Bitcoin through regulated trading platforms. Wise collaborates with cryptocurrency services that adhere to stringent local and international financial regulations.

The bank ensures users engage with platforms that maintain high safety standards, complying with regulatory bodies such as the UK’s Financial Conduct Authority (FCA) and the US’s Financial Crimes Enforcement Network (FinCEN). This adherence to regulations significantly lowers the risk of financial crimes, including money laundering and fraud.

‍

About Wise

Wise, formerly TransferWise, is a financial technology company known for its cross-border money transfers and multi-currency accounts. Products like the Wise Multi-currency Account and Wise Debit Card allow users to manage and spend multiple currencies efficiently. With competitive exchange rates and transparent fees, Wise is regulated by authorities such as the FCA in the UK and FinCEN in the US, ensuring secure and compliant global transactions.

‍

Bottom Line

In summary, Wise provides a secure and efficient way to buy cryptocurrencies by facilitating transfers to regulated exchanges. With platforms like eToro, Wise users can easily fund their accounts and invest in various digital assets. Understanding the associated fees and regulatory compliance of Wise ensures a safe and cost-effective approach to cryptocurrency investment.