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Last Update May 28th, 2020. TransferWise is a borderless multi-currency checking account that simplifies bank and wire transfers for different currencies.

TransferWise is also a popular method of payment for buying and selling bitcoin in large amounts instantly and securely.

There are two person-to-person marketplaces that accept TransferWise as a payment method. They are Paxful and LocalBitcoins.

Where To Buy Bitcoin With TransferWise

 CompanyFeesCountries Supported
Paxful Icon Resized
Paxful

Free, 0.1% to 5% for sellersEvery country except for a few (see banned countries)
LocalBitcoins Icon Resized
LocalBitcoins


Free, 1% to advertisersAll countries

2 Ways To Buy Bitcoin With TransferWise

Paxful

Paxful Homepage

Rating

Website:paxful.com
CEO:Ray Youssef
Headquarters:New York, New York
Founders:Ray Youssef, Artur Schaback
Founded:2015
Customer service:Knowledge Base
More information:Read Review

Paxful is a person-to-person marketplace that supports over 300 payment methods.

Paxful gives vendors the ability to create offers in all currencies.

Pros

  • Escrow system
  • Security
  • Diverse payment methods
  • Simple user interface (UI)
  • Wide variety of sellers

Cons

  • Buyers and sellers are at risk of being scammed

ReputationFeesPrivacyLimits
ExcellentLowHighHigh

LocalBitcoins

LocalBitcoins Homepage

Rating:

Website:localbitcoins.com
CEO:Sebastian Sonntag
Headquarters:Helsinki, Finland
Founders:Nicholas Kangas, Jeremias Kangas
Founded:2012
Customer service:Knowledge Base
More information:Read Review

LocalBitcoins is a person-to-person bitcoin trading platform that specializes in connecting buyers and sellers.

LocalBitcoins gives vendors the ability to create offers in all currencies.

Pros

  • Available in every country of the world
  • A diverse selection of buyers and sellers
  • Supports many payment methods
  • Buyers get their bitcoins fast
  • Private

Cons

  • Lack of cryptocurrency diversity
  • Both sellers and buyers have a chance of being scammed.

ReputationFeesPrivacyLimits
ExcellentLowHighHigh

What Is TransferWise?

Introduced in 2011, TransferWise is a British money transfer service for multi-currency accounts. Transferwise customers are able to make bank and international wire transfers in different fiat denominations efficiently and effectively with relatively little or no fees.

Transferwise is also available on both iOS and Android devices.

How TransferWise Works

Currencies Supported For Sending And Receiving Money

The following fiat currencies are supported on Transferwise for sending and receiving money.

  • AED
  • AUD
  • BGN
  • BRL
  • CAD
  • CHF
  • CZK
  • DKK
  • EUR
  • GBP
  • HKD
  • HRK
  • HUF
  • INR
  • JPY
  • MYR
  • NOK
  • NZD
  • PLN
  • RON
  • TRY
  • SEK
  • SGD
  • USD

Countries You Can Send Money To With Transferwise

Transferwise customers can send and receive money to bank accounts in the following countries: Argentina, Australia, Bangladesh, Benin, Brazil, Bulgaria, Burkina Faso, Canada, Chile, China, Colombia, Croatia, Czech Republic, Denmark, Egypt, Europe, Georgia, Ghana, Guinea-Bissau, Hong Kong, Hungary, India, Indonesia, Israel, Ivory Coast, Japan, Kenya, Liechtenstein, Malaysia, Mali, Mexico, Morocco, Nepal, New Zealand, Niger, Nigeria, Norway, Pakistan, Peru, Philippines, Poland, Romania, Russia, Senegal, Singapore, South Africa, South Korea, Sri Lanka, Sweden, Switzerland, Thailand, Togo, Turkey, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Vietnam, and Zambia.