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How To Buy Bitcoin With Western Union

By Ehis Ohiwerei - Updated 21 July 2023
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Before you dive deep into this article, let us clarify that, Western Union does not directly facilitate the purchase of Bitcoin. However, you can indirectly buy Bitcoin by using Western Union to fund a trading account on a cryptocurrency exchange that accepts gift card deposits. For you to do this, It is essential to find a crypto exchange that explicitly supports this payment method, and we are here to assist you in finding such platforms.

How To Buy Bitcoin With Western Union

To buy Bitcoin with Western Union, you should find a reputable platform or individual who offers this payment option. This can be done by researching and exploring various cryptocurrency exchanges or peer-to-peer trading platforms that support Western Union transactions. Once you find a suitable platform or individual, the process typically involves the following steps:

1. Choose A Platform

Create an account on the chosen platform (you can check our recommended list below) or establish communication with the individual seller. Once that is done, you must complete any verification processes the platform or seller requires. This may involve submitting identification documents or fulfilling Know Your Customer (KYC) requirements to comply with regulatory standards.

1
Min Deposit
$ 100
User Score
5
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Visit Site
Description:
Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares, Options and Cryptocurrencies. CySEC license number (#250/14)
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. Initiate A Fund Transaction With Western Union

Reach an agreement with the platform or seller on the terms of the Bitcoin purchase, including the exchange rate, transaction amount, and any applicable fees. Initiate a Western Union transfer for the specified amount, following the instructions provided by the platform or seller. Ensure that you accurately provide the necessary recipient details.

3. Buy Bitcoin

Once the transfer is complete, notify the platform or seller and provide the necessary transaction details (e.g., transaction number, sender’s name, etc.) for verification. After the verification process, the platform or seller will transfer the corresponding amount of Bitcoin to your designated wallet address. The Bitcoin should then be accessible to you.

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Where To Buy Bitcoin With Western Union

Several options are available if you want to buy Bitcoin using Western Union. While Western Union is not a direct platform for purchasing Bitcoin, there are peer-to-peer trading platforms and individual sellers who accept Western Union transfers as a payment method. To find platforms or individuals that support buying Bitcoin with Western Union, you can explore our list of reputable cryptocurrency exchanges below.

1
Min Deposit
$ 100
User Score
5
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Visit Site
Description:
Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares, Options and Cryptocurrencies. CySEC license number (#250/14)
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
2
Min Deposit
$ 10
User Score
4.95
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Open Account
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA
3
Min Deposit
$ 1
Promotion
User Score
4.8
Offers trading for over 180 cryptocurrencies, making it one of the exchanges with the broadest selection of tradable assets
Binance provides a cost-efficient trading experience, with a maximum fee of 0.1% for makers and takers
Supports advanced trading features, including futures trading with up to 125x leverage and margin trading with up to 3x leverage
Visit Site
Description:
Binance is a prominent global cryptocurrency exchange platform that provides a venue for buying, selling, and trading a vast array of digital currencies. Founded in 2017, it has quickly risen to become one of the largest platforms in terms of trading volume. Binance offers a variety of services including a crypto wallet, margin trading, and futures trading, catering to a diverse user base from casual traders to institutional investors.
Payment Methods:
Banxa, Credit Card, Cryptocurrencies, Debit Card, Mastercard, Simplex, Visa
Full Regulations:

Pros And Cons Of Using Western Union To Buy Bitcoin?

Pros

  • Wide range of sellers: Western Union transfers may be accepted by a diverse range of sellers, including peer-to-peer platforms and individual traders, increasing the chances of finding a suitable seller for buying Bitcoin.
  • Fast transactions: Western Union transfers can be processed quickly, allowing for a relatively swift purchase of Bitcoin compared to other payment methods that may involve longer transaction times.
  • Familiarity: Many people are familiar with Western Union and have used it for various financial transactions, which can provide a sense of trust and reliability.

Cons

  • Limited availability: While Western Union is accessible in many regions, it may not be as widely accepted as other payment methods in the cryptocurrency ecosystem. This can limit the number of platforms or individuals that accept Western Union transfers for Bitcoin purchases.
  • Higher fees: Using Western Union to buy Bitcoin can incur higher fees than other payment methods. These fees may include transaction, conversion, and service fees charged by Western Union and the platform or individual facilitating the transaction.
  • Potential scams and fraud: Engaging in transactions with unknown or unverified sellers can pose a risk of scams or fraudulent activities. It's essential to conduct thorough research and choose reputable platforms or sellers to mitigate this risk.

When buying Bitcoin with Western Union, carefully considering the pros and cons, along with your specific circumstances and preferences, is essential. Above are a few pros and cons to note

Is Buying Bitcoin With Western Union Right For Me?

Deciding whether buying Bitcoin with Western Union suits you depends on several factors you should consider carefully. Here are some key factors to help guide your decision:

  • Accessibility: Assess whether Western Union is readily available in your location. If you can access Western Union services easily, it can be a convenient option for purchasing Bitcoin.
  • Payment method preferences: Determine if using Western Union aligns with your preferred payment method. Some individuals may feel more comfortable using traditional financial services like Western Union instead of cryptocurrency exchanges or other digital payment methods.
  • Fees: Evaluate the fees associated with buying Bitcoin through Western Union. Compare the transaction, conversion, and other charges to determine if they suit you. Remember that fees associated with Western Union transfers may be higher than other payment methods.
  • Security and trustworthiness: Consider the security measures and reliability of the platforms or individuals that accept Western Union for Bitcoin transactions. Thoroughly research and choose reputable and reliable parties to minimize the risk of scams or fraudulent activities.
  • Regulatory compliance: Ensure that using Western Union for Bitcoin purchases complies with your jurisdiction’s legal and regulatory requirements. Understand potential implications and obligations regarding taxation, reporting, and anti-money laundering regulations.

By carefully evaluating these factors and aligning them with your preferences, needs, and local regulations, you can decide whether buying Bitcoin with Western Union is the right choice for you.

 

Is Buying Bitcoin With Western Union Safe?

Buying Bitcoin with Western Union can be safe if certain precautions are taken. It is essential to ensure that you are dealing with reputable platforms or individuals with a track record of secure transactions and positive user feedback. Verify the platform’s or individual’s legitimacy, research their security measures, and read user reviews to gauge their trustworthiness. Additionally, it is essential to adhere to best practices such as conducting transactions on secure websites, maintaining the security of your Bitcoin wallet, and safeguarding your personal information. While Western Union transfers are generally safe, it is crucial to be vigilant and exercise caution to mitigate the risk of scams or fraudulent activities. By following these steps and conducting due diligence, you can increase the safety of buying Bitcoin with Western Union.

 

Can You Buy Bitcoin With Western Union?

Yes, it is possible to buy Bitcoin with Western Union. While Western Union may not be as commonly used as other payment methods for purchasing Bitcoin, some platforms and individuals accept Western Union transfers for buying cryptocurrency.

 

Fees For Buying Bitcoin With Western Union

When using Western Union to buy Bitcoin, it’s essential to consider the fees involved in the transaction. The fees can vary depending on the platform or individual you choose for the purchase. While the specific fees may differ, here are some general types of fees you might encounter:

1. Transaction Fee:

This fee is charged for the Bitcoin transaction itself. It covers the cost of processing and verifying the transfer of Bitcoin to your wallet. The transaction fee is typically a percentage of the transfer or a fixed amount.

2. Conversion Fee:

If you’re using Western Union to convert your fiat currency into Bitcoin, a conversion fee may be involved. This fee accounts for converting your payment from traditional currency (USD or EUR) to Bitcoin. Similar to the transaction fee, the conversion fee can be a percentage or a fixed amount.

3. Western Union Service Fee:

Western Union itself may charge a service fee for facilitating the transfer. This fee is separate from the transaction and conversion fees and is specific to Western Union’s services. The service fee can vary depending on the transfer amount, the destination country, and the selected service speed (e.g., regular or expedited).

Fee Type

Value on Western Union

Transaction Fee

0.5%

Conversion Fee

1%

Service Fee

0.1%

 

What Are The Alternative Methods To Buy Bitcoin?

As the global acceptance of cryptocurrencies keeps growing, more and more people are joining the crypto community. Consequently, there are now numerous ways to purchase Bitcoin besides Venmo. To help you explore your options, here is a list of alternative methods for buying Bitcoin:

FAQs

Is it easy to buy Bitcoin with Western Union?
Buying Bitcoin with Western Union may be more complex and widely supported than other payment methods.
Can I buy other cryptocurrencies with Western Union?
The availability of purchasing other cryptocurrencies with Western Union may vary depending on the platform or individual you're dealing with.
Can I buy Bitcoin with Western Union instantly?
The speed of buying Bitcoin with Western Union can vary depending on various factors, including the platform or individual you're dealing with.
Can I buy Bitcoin with Western Union anonymously?
Achieving complete anonymity when buying Bitcoin with Western Union can be challenging. Western Union transactions typically require identification and personal information to comply with anti-money laundering (AML) and Know Your Customer (KYC) regulations.