{"id":296801,"date":"2021-08-03T19:35:03","date_gmt":"2021-08-03T23:35:03","guid":{"rendered":"https:\/\/insidebitcoins.com\/?page_id=296801"},"modified":"2023-11-28T15:04:22","modified_gmt":"2023-11-28T15:04:22","slug":"western-union","status":"publish","type":"page","link":"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/buy-bitcoin\/western-union","title":{"rendered":"How to Buy Bitcoin with Western Union"},"content":{"rendered":"
Western Union is one of the simplest and safest ways to send money, a leading money transfer service and competitor to Paypal and other popular payment methods. However, unlike Paypal, which has some restrictions and limitations on buying cryptocurrencies, Western Union endorses buying digital assets like Bitcoin. <\/span><\/p>\n For example, <\/span>PayPal allows its users<\/span><\/a> to buy up to $100,000 worth of Bitcoin and other digital currencies in a week. There are also limitations on purchasing cryptocurrencies with a $50,000 annual purchase limit. Western Union, on the other hand, is more open in this perspective, and some crypto exchanges allow you to buy bitcoin with WU with fewer restrictions. <\/span><\/p>\n Western Union is a trustworthy method of buying Bitcoin as it hasn’t ever prohibited deposits to exchange platforms as some banks have. One such example is <\/span>UK Bank Barclays that recently blocked<\/span> its users from depositing money to Binance using their credit and debit cards. <\/span><\/p>\n Finding a suitable broker to buy Bitcoin<\/a> can be a challenge as there are many brokers and exchanges with diverse fees and services. To help you get started, below you will find a list of the best brokers to buy Bitcoin with Western Union. Our research indicates that these are the most recommended brokers for this purpose. <\/span><\/p>\n OKX<\/a> is a centralized exchange that operates as a cryptocurrency trading platform and wallet. Its user base is composed of millions of individuals worldwide and is headquartered in Seychelles. The exchange provides a range of trading products and services, including margin, futures, perpetual swaps, options, and simple options.<\/p>\n It also offers several unique features, including block trading, trading bots, OKX Earn, which includes savings, stablecoins, DeFi, staking, ETH 2.0, crypto loans, and Jumpstart, its launchpad which can serve as an exciting addition compelling new users to join the platform.<\/p>\n With its global reach, OKX is an established platform for investors looking to buy Bitcoin or other cryptocurrencies. It is well-known for its security and reliability and offers Western Union as a payment method, which is not commonly seen among other cryptocurrency exchanges. Users can use Western Union to purchase cryptocurrencies like Bitcoin through OKX’s P2P marketplace, which adds another level of convenience to the platform.<\/p>\n Visit OKX<\/strong><\/span><\/a>\n<\/p> Bybit<\/a>, a cryptocurrency derivatives exchange, was established in March 2018 and is headquartered in Singapore. This platform is known for its diverse range of trading products, which include perpetual contracts, futures contracts, and options contracts, all with leverage of up to 100x.<\/p>\n Bybit has gained a reputation for prioritizing innovation and education, particularly for newcomers to the world of cryptocurrencies who wish to use them for practical purposes while earning a profit. Bybit places great emphasis on user security, as evidenced by the regular third-party auditing of its reserves, which ensures that there are sufficient funds to cover user balances.<\/p>\n The platform enables users to purchase Bitcoin via Western Union, although the currency pairs that facilitate this method have certain limitations. The exchange offers an attractive signup bonus of 5030 USDT to entice new users to register on the platform. Ranked among the top 5 exchanges according to Coinmarketcap, OKX provides traders with an accessible and trustworthy means of buying and trading Bitcoin.<\/p>\n Visit Bybit<\/strong><\/span><\/a>\n<\/p> <\/a>Founded in 2015, Paxful is now one of the most famous peer-to-peer marketplaces where sellers and buyers meet to trade Bitcoin. Unlike many other exchange platforms, Paxful doesn’t have geographical limitations; it accepts users worldwide, excluding a dozen of countries. <\/span><\/p>\n Generally, Paxful doesn’t hold fiat currencies on its platform as the trading process usually is conducted without a broker. Nonetheless, it accepts 300+ payment methods to buy or sell bitcoin. Among these payment methods are credit cards, e-wallets, like Amazon, Paypal, and so on, and obviously Western Union. <\/span><\/p>\n As for the fees, buyers don’t pay any trading fees to buy Bitcoin, but the sellers may charge different prices from buyers. However, sellers pay a 1% fee for each trade. There are also deposit and withdrawal fees on the platform, which differ depending on the payment method. <\/span><\/p>\n But, all things considered, Paxful is certainly the best option for US customers to buy bitcoin with Western Union.<\/p>\n Visit Paxful<\/strong><\/span><\/a>\n<\/p> <\/a>Binance<\/a> is one of the largest peer-to-peer marketplaces where you can buy hundreds of cryptocurrencies and use lots of trading tools and features. Recently it added 62 new payment methods for P2P trading, including Western Union. <\/span>This cryptocurrency exchange platform is available in almost 180 countries; however, it does not accept US residents now. Nevertheless, US residents can use the California-based BinanceUS exchange platform, which is somehow limited compared to the original Binance. <\/span><\/p>\n On Binance, you have access to 280 cryptocurrencies through this platform, including stablecoins, bitcoins, altcoins, and DeFi tokens. BinanceUS users, however, can trade only 50 cryptocurrencies. You can use Binance through desktop, a web-based app, and a mobile app. Plus, it has a personal hot wallet called Trust Wallet, where you can store your holdings. <\/span><\/p>\n All in all, Binance stands out with its low fees and wide range of tools for experienced traders, which makes it one of the best options to buy bitcoin with WU. <\/span><\/p> Visit Binance<\/strong><\/span><\/a>\n<\/p> <\/a>Founded in 2013 in Israel, Coinmama is one of the most reputable cryptocurrency exchange platforms worldwide. It boasts of having more than 2.5 million users from over 180 countries, and it stands out with its fast services and simple-to-use interface for beginners. <\/span><\/p>\n In terms of the selection of assets, the platform supports trading over ten cryptocurrencies and accepts different payment methods, including debit cards issued by Mastercard and Visa, bank transfers, e-wallets like Amazon, and so on. Initially, the platform also accepted Western Union, but for now, it stopped supporting WU. However, this may change in the future. <\/span><\/p>\n Visit Coinmama<\/strong><\/span><\/a>\n<\/p> In this part of the article, we will explain how to buy Bitcoin with Western Union. We will go through all this process with Paxful, a peer-to-peer marketplace for Bitcoin trading. On this platform, you can buy Bitcoin directly from the seller without involving any third party, like banks or corporations. <\/span><\/p>\n Signing up for an online account on Paxful is a straightforward and quick process. You just need to provide your email and create a password. Next, you need to verify your account with email and a phone number. Also, whenever your Paxful account is approved, you can immediately get access to your free Bitcoin wallet. <\/span><\/p>\n <\/a><\/p>\n In order to be able to deposit and withdraw money or use your wallet on Paxful, most countries require that you also verify your identification. Paxful requires verifying your ID if your trade volume or wallet activity in a year is equal to $1000. If it reaches $10,000, you also need to provide proof of address. <\/span><\/p>\n <\/a><\/p>\n After you have a verified account, you can start browsing on the marketplace to find the best offer for you. On the left bar of the website, you need to choose Western Union as a payment method, then select the fiat currency you want to use to buy Bitcoin and fill in the amount of Bitcoin you want to buy. <\/span><\/p>\n At last, after finding the most suitable offer for you, you can start trading on Paxful’s platform. If you want to know if the seller is trustable or not, you can look at his\/her reviews and then use the live chat to communicate with the seller and complete your purchase. Following the seller’s instructions, you need to make the payment and confirm it. If everything goes ok, finally, you can get your Bitcoins directly transferred to your Paxful wallet. <\/span><\/p>\n <\/a><\/p>\n Western Union is an American financial services company with a history of almost 170 years. In the beginning, it did not start as a provider of money transfer services, but instead, WU emerged as a telecommunication company in 1851 and provided telegraphic services. <\/span>Founded in Rochester, New York, by lawyer Samuel Selden and entrepreneur Hiram Sibley, the company was initially called The New York and Mississippi Valley Printing Telegraph Company. Eventually, it was renamed Western Union Telegraph Company after merging with its competitor in 1856.<\/span><\/p>\n Western Union did not provide any money transfer services by 1871, but it had significant success in the telecommunication industry. By 1861 <\/span>the company built<\/span><\/a> the first transcontinental telegraph line and created a Russian-American Telegraph company aiming to link America to Europe via Alaska and to Moscow through Siberia. This project, however, was left behind as the company started the creation of the first transatlantic cable in 1866. <\/span><\/p>\n At that period, Western Union was one of the successful projects in the telecommunications industry and formed as a virtual monopoly in the field. It acquired most of its competitors and started to develop new services regarding wire transfer and telephone services. A new competition then emerged in the telephony services led by Bell Telephone Company, and the latter <\/span>won a legal battle<\/span><\/a> with Western Union which resulted in WU leaving the telephone field. Starting from 1943, the company was only concentrated on telegraphy. <\/span><\/p>\n <\/a>By the end of the 19th century, the company was so successful that when the stock index for NYSE was created, Western Union was included as one of the 11 original companies. Another major success that Western Union had in the field of telecommunications is that it became the first American telecommunication company that owned its own geosynchronous satellites known as <\/span>Westar<\/span><\/a>. <\/span><\/p>\n Along with the rapid change of technology and the decline of telegraphic services, Western Union had to reshape its business model. Starting from 1988, the company was renamed Western Union Corporation and mainly handled money transfer services and related services. But as already mentioned, it began to provide money transfer services as far back as 1871. <\/span><\/p>\n At first, only New York, Chicago, and Boston residents could send money through Western Union. But throughout the years, the company expanded nationally, aiming to make money transfer services easier. It introduced one of the first credit cards called “Metal Money” in 1914, and in 1981 its customers could use this credit card to pay for loans, business bills, mortgages, etc. Finally, with the creation of the <\/span>website,<\/span><\/a> WU made it even easier to transfer money through any device at any part of the day.<\/span><\/p>\n Today, Western Union is recognized as one of the world’s leading and most reliable money transfer services. Due to its network of agents at more than 200,000 locations worldwide, Western Union makes it possible to send and receive money in 200 countries and territories of the world. The company competes with such famous money transfer services as PayPal, E-gold, Xoom, and so on. But still, none of those companies enjoys such a huge reputation as Western Union has. <\/span><\/p>\nOn this Page:<\/h2>
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How to Buy Bitcoin with Western Union<\/h2>\n
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Best Brokers for Buying Bitcoin with Western Union in May 2024<\/h2>\n
OKX – Buy Bitcoin with Ease through Western Union<\/h3>\n
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Cons<\/h4>\n
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Bybit – Leading Crypto Exchange Supporting Western Union<\/h3>\n
Pros<\/h4>\n
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Cons<\/h4>\n
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Paxful – Overall Best Platform to Buy Bitcoin with Western Union<\/h3>\n
Pros<\/h4>\n
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Cons<\/h4>\n
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Binance – Best Crypto Exchange that Accepts Western Union<\/h3>\n
Pros<\/h4>\n
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Cons<\/h4>\n
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Coinmama – A Reputable Cryptocurrency Exchange that Supports Western Union<\/h3>\n
Pros<\/h4>\n
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Cons<\/h4>\n
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How to Buy Bitcoin with Western Union Step-by-Step<\/h2>\n
Open an Account<\/h3>\n
Verify Your ID<\/h3>\n
Find an Offer<\/h3>\n
Buy Bitcoin<\/h3>\n
What is Western Union?<\/h2>\n