Best Western Union to Bitcoin Exchanges
The reason why people would choose Western Union to pay for Bitcoin purchases is the fact that it is an option if you do not have any credit cards to pay for the transaction. With the use of money sending companies, you are able to purchase Bitcoin without the hassle of getting a credit card, all you need is a valid ID picture and you are good to go! Now the only thing left to think about would be the websites that would allow such trades.
Websites that accept Western Union as payment for Bitcoin
These are the websites that accept Western Union as a payment method to pay for your Bitcoin. LakeBTC is an exchange in which you can purchase Bitcoin directly from them and you get your Bitcoin transferred into your account. Paxful and LocalBitcoins are trading websites in which you can buy the Bitcoin directly from other members that sell them through Western Union.
Advantages of using Western Union
Western Union is an option in which you can choose from between having to use a credit card or not. Other people mind find it not wise to use their credit card over internet transactions, that’s why they would choose the old method of sending out money, which is through money sending services like Western Union.
It is brilliant that this type of payment method has been embraced in the Bitcoin market, imagine if you do not have any options aside from using your credit card? I mean, you may use your bank account for transactions, but that would beat the purpose, right?
You also need to put in mind the accessibility of Western Union outlets scattered across the globe! So even if your bank cannot transfer funds to a Bitcoin exchange, you can easily look for websites that accept WU as payment to buy Bitcoin from them.
Disadvantage of using Western Union to pay for Bitcoin
Purchasing Bitcoin through exchange websites isn’t always the cheaper option to acquire Bitcoin. But if you do not have any choice, they are the only websites that you can trust. Before you process your payment using Western Union, make sure that you have researched on the website in regards to the specific payment method you are going to use.
Another important thing that you need to put in mind is when you are conducting business with other members of a trade website. Always look into their profiles, know how they operate because that would be your only proof that you are not dealing with a fraudulent seller. Always put in mind that not all sellers or buyers are legit.
When talking about legit sellers, they would always have transaction requirements for you to even receive the Bitcoin into your account. The only problem here is that when you send out your money, you would not receive your Bitcoin. Just like websites, you need to make sure that you have done everything before the transaction itself.
Transaction Fees when using Western Union
In using Western Union to purchase Bitcoin you will be charged fees for it. This would also depend on which transaction you are going to partake in. When buying Bitcoins directly from exchange websites like LakeBTC.com, you will be charged a market price for Bitcoin. Usually, exchange websites would charge from 10%-20% higher than the current price of Bitcoin. If you are sending money through Western Union to buy Bitcoin then charges would start from $1 depending on the money you need to send.
Western Union is actually something really interesting when it comes to payment options to pay for Bitcoin. It isn’t fully recognized in the world but having this option to buy Bitcoin would be easier for you. Whatever the reason may be, it would always be great to have a few options in mind. Just remember, always do your research before transacting with someone.