Money transfers have always been rich practice for people around the globe. As per the advancements in time and technology, the way of such transactions reached a whole new level. A once alien, but now most familiar way of a money transaction includes cryptocurrency transactions. Bitcoin, a very much popular cryptocurrency, is nowadays conquering almost all sectors of the financial world.
The introduction of Bitcoin has finally made people realize that how reliable and efficient online transactions can turn into. Transaction of a considerably huge amount of money has become an easy task with the arrival of cryptocurrencies such as Bitcoins. With them, came crypto exchanges providing a secure and efficient atmosphere for people to buy or sell such cryptocurrencies. With a cryptocurrency wallet available, and an exchange for the transaction, anyone can buy, mine or sell Bitcoins online.
Buying Bitcoins - Not A Confusing Topic Anymore!
At first, people did have a lot of confusion ranging from what a Bitcoin is and from where and how to buy it. Nowadays, most people are familiar with this trending cryptocurrency and are making their own efforts to buy and sell it online. The arrival of Bitcoins also made an online payment and purchasing a cakewalk for many people.
All you've to do is set-up a Bitcoin wallet for yourself and start mining. You can also trade Bitcoins via your wallet, along with a seller/buyer or an cryptocurrency exchange. Businessmen and other corporate biggies are nowadays turning towards this beneficial market of Bitcoins to reap more and reduce cost.
Western Union and Bitcoin Exchange
Western Union is now a mammoth name recognized as a popular money exchanging firm. With its branches clutched almost everywhere globally with about 500,000 branches; fund transfer via Western Union became one of the most chosen ways amidst individual.
Here comes the Bitcoin transfer into the picture. While other exchanges draw certain boundaries for Bitcoin transfers and at times even don't provide this service, Western Union handles this in a more-friendly way.
They have an easy, simple and efficient way for the transactions involving Bitcoins, thereby inviting a good number of people across the globe to approach them.
Bitcoin transactions with Western Union are facilitated by a number of channels. A few platforms are also available that provide Bitcoin transaction via Western Union.
Best Platforms to Buy Bitcoins with Western Union
Let's now see some of the best platforms available for bitcoin transactions and how it could be done in detail via Western Union.
LocalBitcoins is a platform which is widely known for its person-to-person environment as the transaction is more of a discreet nature.
The process of buying Bitcoins via LocalBitcoins involve steps like registration- where you'll have to fill in your details including your wallet ID, finding suitable sellers, performing negotiations with the chosen seller and finally placing the order.
You can go to your nearby Western Union branch, from where you can fill a Bitcoin deposit slip including your seller's address and other details. After that, the seller will send the Bitcoin to your wallet. Amidst this, a secondary verification will be done via a representative of Western Union, who'll provide you a key for a transaction.
This enables you a secure environment before transmitting money. It's a reliable method of buying Bitcoins using Western Union.
Users can buy Bitcoins via Western Union using Paxful. Unlike other platforms, Paxful enables users to buy Bitcoins using various forms of transactions such as the usage of gift vouchers, Amazon gift cards etc. This makes Paxful a more user-friendly area for Bitcoin transactions.
It provides an ensured security environment with the help of an escrow system. Because of this, the seller can't cancel the transaction once it is finalized. Only the buyer can cancel the transaction making the system scam free.
Also, a specific time limit will be set for the buyer to complete his/her transaction. If the buyer exceeds this time limit, the transaction will be canceled automatically.
Cointal is another platform similar to Paxful and LocalBitcoins. It's a peer-to-peer system enriched with a simplified atmosphere for the users to make their negotiations and transactions.
Cointal is well-known to be the first website to deal with cryptocurrencies like Ripple and Ethereum.
It also enables users to buy or sell Bitcoins via Western Union. Its architecture enables even the beginners to faithfully and easily transact their money and also ensures a secure atmosphere.
Cryptex24 is also a platform that helps people to buy Bitcoins. Before making a purchase, the traditional concepts are followed here too.
A detailed order form must be filled first, where you'll have to include your details such as wallet ID etc. You'll be then provided with a representative's details. These details will be forwarded to the Western Union, from where you'll be provided a unique code via their representative.
Using this code, you can initiate the transfer. After this, you should inform the cryptex24 team about the transaction and they'll provide you with a Money transfer control number (MTCN) using which the seller and buyer can transact Bitcoin and money.
Usually Cryptex24 charge 4% commission charge for buying Bitcoins via Western Union.
Coinmama is undeniably one of the best cryptocurrency exchange service. It facilitates the transfer of Bitcoins in an efficient way, and also with the Western Union.
Coinmama is a platform that holds a great number of shares when it comes to Bitcoin transactions. It is actually a website that provides you even a credit card option to buy Bitcoins in a fast manner.
One big benefit of this platform is you won't have any specific restrictions on the amount of buying Bitcoins, unlike other platforms. And once you place your order, your price will be locked. i.e., after you place your order, even if the Bitcoin price hikes up, it won't affect your order.
The procedure of buying Bitcoins via Coinmama is more or less alike other platforms, which includes a registration process, login, entering your wallet address, making a purchase, verification to avoid crypto theft, payment via Western Union and receiving of a Key (MNC) for secondary verification during coin purchasing.
At most one will have to wait for a day to get done with the whole transaction process in Coinmama.
UPDATE: Coinama doesn't support Western Union Transfers anymore.
Other Means to Buy Bitcoin via Western Union
Apart from all the above-mentioned platforms, Bitcoin talk forum is also one of the places where you could buy cryptocurrency and deal with related transactions. Even though the truthfulness of transactions from this platform is a bit questionable than the others, Western Union is tied up to enable Bitcoin transaction via Bitcoin talk forum as well. It enables the user to secure their trade using an escrow service of its own, thereby providing a shield from scammers. Those who use Bitcoin talk forum to buy/sell Bitcoins have to pay a few percentages of an amount to them as the commission charge.
Apart from all these platforms, a lot more options are available for an individual to buy Bitcoins via Western Union. It comprises of list including platforms like Coinlink, BitQuick etc.
Also Read: Best Bitcoin Debit Cards of 2019