Western Union was founded by Ezra Cornell, Hiram Sibley, Jeptha Wade, and Samuel L. Selden. This unique payment option can be found on a range of crypto sites that accept Western Union.
It is one of the most accessible and secure deposit methods to send money online or in a local shop. Get started with the reliable and trustworthy deposit method, using your mobile device to deposit with Western Union! The transaction method endorses the purchase of digital assets such as cryptocurrencies like Bitcoin, Ethereum among others. The primary purpose of Western Union´s financial service is worldwide money transfer services. The headquarters of the organization is in Denver, Colorado. Below you can find some facts related to the top crypto exchanges and platforms that allow funding with Western Union.
Top 5 sites for buying, selling and trading crypto with Western Union
This is the toplist with the best sites to buy, sell or trade cryptocurrencies through Western Union. To learn more why a certain site is ranked the way it is, you can read our review by clicking the review button.
We generally recommend using an exchange or platform with good track record, great reputation and positive feedback from its customers. The better option for you as customer, the better ranking we give them.
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- 1 Top 5 sites for buying, selling and trading crypto with Western Union
- 1.1 Summary
- 1.2 Advantages
- 1.3 Disadvantages
- 1.4 What is Western Union?
- 1.5 Western Union Costs
- 1.6 Transaction speed for Western Union
- 1.7 Western Union Deposits
- 1.8 Which are the leading countries where Western Union is used?
- 1.9 Can you withdraw from Western Union?
- 1.10 Reputation of Western Union
- 1.11 Western Union FAQ
The Western Union deposit method is famous for its open perspective and minimal restrictions when purchasing cryptocurrency. Many crypto exchanges allow Western Union deposits as they are convenient, and they have never bared deposits to exchange platforms, unlike other financial institutions. The method is known for its international money transfers. The option needs traders to pay close attention and transact with legitimate sources to get the right amount of cryptocurrency on their e-Wallets. They can use Google Pay or Apple Pay to complete these transactions, but when are all crypto wallets also supported? There is a need to assess the policies to understand if they can restrict you from transacting and purchasing crypto, and you need to know if the crypto site you send money to will send you your coins after they receive your money. Western Union is a safe method, but the process is as secure as the person you send money to. Therefore, traders can reduce risk using reliable crypto exchange sites or escrow services.
+There are minimal restrictions with crypto sites that accept Western Union.
+It is a trustworthy deposit method with a good reputation.
+Western Union facilitates direct cash deposits via wire transfer or cash payments in a local bransch.
+The anonymity is better than most other methods.
+Western Union has a fast money pickup.
Western Union faces potential security risks because of limited identity checks.
Western Union is relatively expensive as transfer fees vary with location.
It is not a popular deposit option with crypto brokerages.
It is prone to errors in the processing of remittance.
It has a disclaimer that makes Western Union not liable for any losses.
What is Western Union?
Most Crypto sites that accept Western Union use it as a transfer service to move money around the world to the trade brokers. The company uses Apple Pay and Google Pay to receive online deposits and facilitate these transfers via its website or mobile app. Funding your account will make it easy to transact the money directly to a broker and utilize the funds in cryptocurrency on these crypto exchanges. It provides consumers and businesses with quick, reliable, and convenient ways to send and receive money globally, buy orders, and send payments.
Western Union Costs
Every transaction has different costs and depends on the amount of money transferred and the recipient country. Traders make their earnings via currency conversions. The transaction charges are available using the transfer fees calculator on their official website. The costs highly depend on online brokers as their charges vary for withdrawals and deposits.
Transaction speed for Western Union
People use it because the “Money in Minutes” service is almost instant. The only condition is the rapid response of the broker to accept the payment on the end and cross-check with customer service. However, traders looking to deposit could experience a long duration, and it could be as long as a bank wire transfer takes. Therefore, domestic transfers could take up to 24 hours, while international transfers are completed in 1-5 business days.
Western Union Deposits
1. Fill out a form with the broker’s BIC and IBAN on the brokerage website under the bank wire transfer option.
2. Choose Western Union from the list of deposit options.
3. Put in the deposit amount and press GO.
4. Finalize the transaction with a verification method of your choice, such as Face ID, Touch ID, or PIN code on your mobile device.
5. You will receive a Money Transfer Control Number (MTCN) that you provide to the broker who will be able to receive the deposit
Which are the leading countries where Western Union is used?
The major countries used include the US, Canada, and significant parts of Europe. It is also active in New Zealand, Australia, Hong Kong, and the United Arab Emirates. The countries banned from the Western Union due to internal policy include North Korea, Cuba, Iran, Venezuela, Ukraine, Russia, and Specially Designated Nationals (SDNs).
Can you withdraw from Western Union?
Yes, you can by following the following procedure:
1. Submit a withdrawal request to your exchange (that must have this as a deposit option). They will give you an MCTN.
2. Go online or to the nearest branch with the number to receive your profits.
Use the contact telephone helpline number in your area from the website to get assistance.
Reputation of Western Union
It has a reputation for its safety and longstanding growth over the years in the crypto world. People who use it say it is pretty expensive as the prices vary daily on the exchange rates. However, some consumers complain about customer service, money transfers, and bank account problems. People claim to experience having the wrong cryptocurrency exchange, and others discover that strangers claim their money due to poor customer support. In instances like this, people opt for alternatives such as MoneyGram, WorldRemit, Wise, and even PayPal.
Western Union FAQ
Below are some of the most frequently asked questions that Crypto Lists receive regarding Western Unions as a deposit method to buy Bitcoin, Ethereum and other coins and tokens.
Is it safe to use Western Union for cryptocurrencies?
It is a secure method, but one needs to use links from trustworthy sources to avoid scams since there are no regulatory checks that can prevent these from happening as most people like to use bank wire transfers and cash. The platform is safe as a payment gateway, but you need to assess the source you buy from to determine if it is legitimate.
How do I set up Western Union?
You can download the app on your Apple or Android or use the website to register an account with your details and begin making trades and purchases on crypto exchanges
Is Western Union instant?
It takes almost 1-3 days to process transfers. The instant payments are under the move money in minutes service.
When was Western Union founded?
It was founded in 1851
Where is the mother company based?
It is located in Denver, Colorado, the United States.
Does Western Union only work on Apple devices?
It works on all smartphones and desktop devices. The application is available on the Apple Store and Google Play.