If you’re a new or existing crypto enthusiast looking to buy BTC and other cryptocurrencies using traditional banking platforms, Western Union is your go-to. The platform is renowned for providing advanced digital banking services facilitating transfers across over 200 countries. It is also a secure option for crypto purchases on some of the available cryptocurrency exchanges. Read this article to find out how to buy crypto using the Western Union banking platform.
Can I Buy Bitcoin and Crypto With Western Union
Yes, you can buy BTC, USDT, ETH, and other crypto with the Western Union digital bank. Western Union, however, does not directly support crypto purchases and trading on the app or official website. Instead, you can buy these crypto using a third party, such as a crypto exchange. Western Union is integrated as a payment method for crypto trading on several major exchanges, allowing users to buy and sell crypto with it.
Binance supports the Western Union payment method for crypto trading. Hence, Binance is a top choice for buying your first and subsequent assets if you’re looking to use Western Union. You can leverage Western Union payment method services on Binance P2P, where you can buy crypto directly from a seller on the exchange. However, you must complete all KYC verification on Binance to gain access to advanced services like peer-to-peer trading.
Step-by-step Guide to Buy Bitcoin and Crypto With Western Union on Binance
You can buy Bitcoin and crypto once your Binance account is verified and you have enough funds in your Western Union account. Also, you can link your Western Union account on Binance via the Payment Method page for easier access. Next, follow the steps below to buy crypto using your Western Union account on Binance:
- Log in to your Binance account, then click Trade→P2P to open the peer-to-peer trading section.
- Select BTC or any other crypto you want to buy, and choose your preferred currency.
- Click on the Payment dropdown and search “Western Union” among the list of available payment methods. Select Western Union to proceed.
- Next, browse the list of offers for crypto sale and select your preferred one. Look at the seller’s rating and purchase profitability before making your choice. Input the amount of crypto you want to buy and copy the seller’s account details for payment.
- Next, head to your Western Union account and make the agreed payment to the seller’s account. Lastly, go back to Binance to Confirm Payment.
Immediately after the seller confirms your payment, the crypto will be released into your Binance wallet. Remember to never send funds to any bank account different from the one shown on Binance to avoid losing funds to crypto scammers.
Fees When Buying Bitcoin and Crypto With Western Union
For regular transfers on Western Union, fees vary depending on the transfer amount, destination, and regional banking policies. However, you can evade several additional fees when you buy crypto using Western Union on Binance P2P. This is because Binance does not charge buyers any fee for peer-to-peer trades. However, sellers may include fees in their pricing to account for costs.
About Western Union
Western Union is a popular financial services company that specializes in money transfers and payments. It operates in over 200 countries, allowing users to send and receive money across borders in minutes. Western Union customers can send money to bank accounts and mobile wallets or collect cash at agent locations. Its integration with modern platforms like Binance further demonstrates its adaptability to the evolving financial landscape, particularly in facilitating cryptocurrency purchases.
Bottom Line
Western Union is a reliable and accessible payment method for buying Bitcoin and other cryptocurrencies on Binance P2P. By following this guide and understanding the fees involved, you can confidently buy Bitcoin and crypto with Western Union. Never forget to review Binance’s and Western Union’s fee policies to remain updated before buying crypto.
