How to buy Bitcoin with WU in 2022
Where can I buy bitcoin with Western Union?
Western Union is extremely popular way to send and receive money worldwide, but how can you buy crypto with WU?
In the text below you can find the top 3 crypto exchanges that support Western Union as payment method:
Binance P2P
A P2P infrastructure for Bitcoin transactions for local currency exchanges was developed by Binance before the end of 2018. Three years later, the site expanded to offer a wider range of currencies, including BTC, ETH, BNB, BUSD, DAI and USDT, by accepting more than 150 different payment methods in local currencies worldwide. Crypto transactions between users and merchants can take place on a secure network.
Binance P2P allows users to buy and trade crypto using several different payment methods. Some examples are local bank transfers, SEPA, e-wallet services, PayPal, Payoneer, Western Union, and local currency are some of them. Their P2P marketplace is much smaller than Paxful’s.
Visit Binance now
Coinmama
One of the most recognized crypto exchange platforms in the world, Coinmama, was established in 2013 in Israel. It does not keep the currency in its own wallet after the purchase. Before completing the transaction, you must provide the personal wallet that your money will be deposited into. Therefore, since Coinmama servers do not have crypto, they are not a target for hackers.
More than 2.5 million people from 188 countries and 48 in the US use it (all except Hawaii and New York). Crypto can be purchased with various payment options, such as major credit cards, debit cards, bank transfers, e-wallets, Western UnionApple Pay and Google Wallet.
Visit Coinmama now
Local bitcoins
When it comes to peer-to-peer crypto exchange, LocalBitcoins is at the top of the game both in terms of reliability and security. It was started by a Finnish guy named Nikolaus Kangas in 2012. It facilitates in-person and online trading by connecting those who want to buy Bitcoin with others in their immediate vicinity (or around the globe) who are ready to sell. Over 200 countries and territories have access to their services.
The site supports over 350 different payment options, including the aforementioned three cryptos and a wide variety of fiat currencies. Localbitcoins accepts various currencies and payment methods, such as bank transfers, mobile payment applications, gift cards, other cryptos, cash, e-wallets, credit cards, Western Unionand more.
Visit Localbitcoins now
Lots of scammers preying on beginners. They manipulate the system and build a good reputation on the platform by building hundreds of fake profiles that simulate trades and give top feedback to each other.
How to buy crypto with WU (step by step)?
As you can see, you can buy crypto through any of the above crypto exchanges. In this case, we use Paxful as an example to explain to you how to buy crypto with Wester Union step-by-step. By following the instructions below, you will be able to buy crypto using the Western Union payment option:
- First, if you don’t already have an account, register an account on the crypto exchange (in this case Localbitcoins) platform. All that is required is that you register with your email address and password.
- Then, to access your account features, you must authenticate your account via email and phone number. In addition, once your Localbitcoins account is verified, you will immediately get access to your free Bitcoin wallet.
- Then, in most countries, you must prove your identity before making monetary transactions on Localbitcoins, including deposits and withdrawals.
- After your account is verified, you can start searching Localbitcoins for the most beneficial deal. Select Western Union as your preferred payment method, select the fiat currency you want to use, and enter your desired Bitcoin purchase amount.
- Finally, after deciding on the best offer, you can start shopping on Localbitcoins’ platform by starting a conversation with the seller and completing the transaction. You must make the payment and confirm it according to the seller’s instructions. If all goes well, you will eventually receive your Bitcoins directly transferred to your Localbitcoins wallet.
What is Western Union?
Headquartered in the United States, Western Union is considered the premier international money transfer service. Western Union has over 200,000 outlets globally and facilitates money transfers to 200 nations and territories. The company faces stiff competition from well-known money transfer providers such as PayPal, E-gold, Xoom and many more.
The firm revealed in December 2018 that it would begin accepting bitcoin and other cryptos. It is well recognized as one of the most comprehensive online communities in the world that accept Bitcoin as a medium of exchange.
Also read:
Pros and cons of buying crypto with WU?
Like all other payment methods, Wester Union has some advantages and some disadvantages. To find out what are the advantages and disadvantages, read the text below:
Benefits ✅
- It is one of the most trusted names in money transfer.
- When you buy Bitcoin, it is a safe option because your privacy is guaranteed.
- The maximum amount of Bitcoin you can buy or acquire is unlimited.
- It supports all US credit cards to buy Bitcoin.
- You can get Bitcoin quickly and easily by using it.
Cons ❌
- There are several marketplaces where Western Union is not accepted.
- Some fees may be significantly higher than average.
How to withdraw bitcoin to Western Union?
You must first sell bitcoins on the exchange site to get fiat currency. You can then withdraw your money to your Western Union account. We can illustrate this with the P2P trading platform Paxful as an example.
Browse the Paxful providers willing to buy Bitcoins. If you do not find a suitable offer, you can always create one yourself. There is no way for the buyer to deposit money into your Paxful account. Buyer pays money immediately to your Western Union account. Once you confirm the transaction, you send bitcoins to the buyer.
When you use a broker platform to sell bitcoins, the broker handles all communication with the buyer on your behalf. Your funds will first be deposited into your brokerage account, and from there you can request a bank transfer to your Western Union account.
Can you buy Bitcoin anonymously with Western Union?
Find a person who is willing to trade with cash if you want to get Bitcoin anonymously via Western Union.
You can acquire Bitcoin from individuals directly through a P2P internet marketplace. Paxful is a marketplace that doesn’t require you to authenticate your account to sign up. This way you can maintain your anonymity, although you should know that there are limits to how much bitcoin you can buy on Paxful without revealing your identity.
Common questions
No, Western Union does not work with Coinbase. Instead, Coinbase waded into the international money transfer program in a large market dominated by Western Union, namely it has launched a program to send crypto funds to friends and family.
No, you cannot buy crypto with Western Union on Binance. But Binance has its P2P platform called Binance P2P, which supports Western Union as a payment method.
To buy crypto in the US with Western Union, you can use some P2P platform, such as Paxful.
Create and validate your Paxful account first, then return to the offer page. Click “Find Offer” after entering the amount of BTC you are ready to pay and your preferred currency.
Select an option from the list of available offers that best suits your trading requirements. Carefully review the seller’s offer conditions before starting the deal to see if you can deliver the necessary criteria. Most merchants do not allow third-party transactions, so include your name when submitting the funds. Some providers will also require you to pay the transaction fee.
Click “Buy” after entering the number of Bitcoins you want to buy and click “Buy Now” if you agree to the seller’s terms. A live chat starts after this. Click “Paid” and let the seller know that you have done so after you have sent the money and a copy of the receipt. Your BTC will be sent from secure escrow to the Paxful Wallet as soon as the merchant accepts your payment.
Yes, it is safe to buy Bitcoin with Western Union. For example, on LocalBitcoins, the largest and most recognized P2P Bitcoin marketplace in the world, you can use Western Union to acquire bitcoins quickly and securely. Buying bitcoins with Western Union is very easy and every transaction is escrow protected.
CaptainAltcoin’s writers and guest post authors may or may not have a vested interest in any of the projects and businesses mentioned. None of the content on CaptainAltcoin is investment advice nor is it a substitute for the advice of a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
