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I asked Wise (formerly TransferWise) if I'm able to transfer USD to Kraken crypto exchange.
However, they've decided that they want to protect me from engaging in a high-risk investment such as bitcoin – https://imgur.com/a/tVG12YD
https://preview.redd.it/fgfpkgxw94vb1.png?width=1223&format=png&auto=webp&s=25259d4f3da83624cd60b8e8c689b4e999e78a7c
They don't support "transfers to Bitcoin" directly or indirectly. Funnily enough, I can transfer from Wise to Interactive brokers through their direct integration – https://wise.com/us/blog/wise-platform-and-interactive-brokers-team-up. You can buy fake Bitcoin on Interactive brokers through Paxos (assuming you're US-based). I guess that's OK. They see cryptocurrencies as high-risk investments and have decided to help me limit my risk. Crypto currencies might be involved in breaching applicable local, national or international law or regulation. However, you can receive money to your Wise account from a platform that deals with bitcoin or other cryptocurrencies. They'll take your dirty crypto money, no problem.
I'm from the EU and earn in USD. If you transfer from a USD account in the EU to another USD account, more than likely you will get dinged with intermediary fees that you cannot know in advance.
It is generally "safer" and less expensive for me to convert my USD to EUR and to make SEPA transfers.
The user experience of all of these platforms is quite bad and this space is so ready to get disrupted by some of the more innovative Bitcoin companies that will abstract the technical details away.
Stay humble and stack Sats.
submitted by /u/adventurous_alpaca96 [comments]
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