Best Websites to Use MoneyGram to Buy Bitcoin
A lot of people today use MoneyGram to send money anywhere in the world. This is because MoneyGram is one of the best and secured money transfer companies that exists today. If you do not want to purchase Bitcoin using your credit card due to not being confident with the security setup, then you might want to look into this.
Why people choose MoneyGram to buy Bitcoin
People would always want to know as many options as possible when it comes to buying Bitcoin. Anonymity is something that people take seriously today, especially with Bitcoin purchases. I just want to set the proper expectation when it comes to buying Bitcoin using MoneyGram, it is far more complicated than you think it is. Not to mention, if you do not want to use your CreditCard to pay for it, you need to visit the nearest convenience store or one of the MoneyGram outlets to pay for it in cash.
Sample screenshot for a store to store transaction within the United States. I placed $100.00 as sample amount to be sent and clicked on calculate to get the amount owed. The fee would be $11.50 for the $100.00 purchase.
So why would people go over the hassle in processing a payment through a third party? You can actually pay for Bitcoin without providing any valid ID as long as the payment is below $900.00 USD, at least this is what MoneyGram says regarding the ID verification. This would also depend on the branch where you are sending your money from, as most of them would definitely ask a government issued ID with picture. For more details on how to do the payment without providing ID is discussed in this forum thread.
You can also use your credit card to pay through MoneyGram and send your money easily through their website, but you need to link your CreditCard in order to do so.
Websites that support MoneyGram payments
These are the websites in which you can use to purchase Bitcoin using MoneyGram as your payment method. LakeBTC is an exchange/wallet where you can purchase your Bitcoins directly from. Paxful and LocalBitcoins is a trading market in which you can purchase Bitcoins from other people directly. One of the payment methods sellers would list is MoneyGram.
- Can be used for anonymity
- Can use cash to pay if meet-ups are not available
- Fast transaction (in transferring money)
- Can get complicated fast
- High fees
- Is a choice and not an option
At the end of the day, using MoneyGram is more of a choice rather than an option to pay for your Bitcoins. The reason behind this is the fact that you would go through everything just to pay using MoneyGram, it is definitely not a convenience. People would use MoneyGram as they want to keep their identity as anonymous as possible and would go the extra mile to make sure that the transaction is untraceable, this is if they do not use their real name.
On the other hand, MoneyGram can be the exact opposite of being anonymous if you want to keep everything legit. Most of the local stores today that has MoneyGram would ask for your ID, fill out the form with correct information and you have nothing to worry about when it comes to legality.
Some people may use money transfer companies to pay for Bitcoin as a way to keep their identity safe, some would just want to use it because they do not have any choice at all. What matters the most is that you make sure that the person/company you are transacting with wouldn’t run away with your hard earned cash.