TransferWise is the perfect fit for Bisq

We added TransferWise as new payment method but it seems it has not developed yet its full potential as a payment method which interconnects global markets.

Here a quick overview why I think that TransferWise is one of the best payment methods and very accessible to most people (Excluding US - but we will add a US only TransferWise payment method soon).

  • Bisq does not require account signing so you can buy Bitcoin up to 0.25 BTC per trade
  • Account opening is relative fast and pain-free
  • You get access to a global market
  • You can send from nearly any currency to the receiver currency
  • You can receive funds either with all the currencies where they support local accounts (AUD, EUR, GBP, NZD, RON, SGD) as well from any where you have a bank account (linked account)
  • One can set up local accounts (It is like you get a free sub-account at the global TransferWise bank accounts). This has the benefit to get instant transfer and those bank accounts can also be used as SEPA or national bank account. How to set those up is more complicate as it should be, but the wiki [1] gives a good overview how to do it.
  • Conversion rates are pretty good, close to the exchange rate you see on Google
  • Transfer fees are pretty low as well

Please read up the wiki [1] for a more detailed overview.

[1] https://bisq.wiki/TransferWise

3 Likes

Interesting! I will have a closer look . .

It’s a breach of TransferWise terms:
Unsupported businesses and transactions

As discussed in keybase, quite a few deactivations last day or so.