Why you should buy crypto with Moneygram

Quick

When using a Moneygram account to receive funds, most transactions take only a few minutes to deposit the cash.

Safe

Both buyers and sellers can feel safe using Moneygram. As long as the network you're using is hack-proof, all information sent between your device and Moneygram's servers is secure and encrypted.

Support

Email, live chat, call center, social media support, forum support, and self-service support are all available from Moneygram customer service team.

Privacy

Moneygram safeguards your bank or credit card information by encrypting it.

Why is Moneygram an excellent way to buy crypto

Moneygram is a popular service that allows users worldwide to make transactions using their bank account or credit card information without disclosing personal information like their name or address.

Thanks to this, anyone who has access to an online payment system like Moneygram can purchase Bitcoin anonymously. It also enhances security because sensitive financial information is not required.

Buying crypto with Moneygram: Step-by-step guide

1. First, you'll need a Moneygram account. If you don't already have one, go to their website and setup one with your credit card or bank account and an email address.
2. Go to the home screen (the "Payments" screen in the app) and select the "Obtain Bitcoin and more" banner near the top of the page to purchase some BTC on the Moneygram website.
3. On the Moneygram app, choose the cryptocurrency you wish to buy.
4. Furthermore, Moneygram has provided resources for learning about cryptocurrency and a list of the associated risks.
5. To complete your purchase, you'll need available funds, a linked debit card, or a linked bank account. It is possible to spend as little as $1 per week or as much as $100,000. Like many other cryptocurrency exchanges, Moneygram charges fees to buy and sell cryptocurrency, depending on the amount purchased.
6. Below the purchase option on Moneygram, you'll find a brief description of the asset you're obtaining. Before continuing, you must confirm some information and agree to Moneygram Terms and Conditions.
7. To purchase Bitcoin, enter your desired amount. The Bitcoin price fluctuates depending on when you purchase it. The exchange rate includes a spread until you buy or sell, and it refreshes frequently. Select “Next” to move on to the next screen.
8. The bank account or credit/debit card linked to your Moneygram account appears. You can also add more cards or bank accounts at this time.
9. The account will be updated after the purchase to reflect the amount of cryptocurrency purchased and its current value.
10. Move back to the home page and look under "Crypto" for your Bitcoin purchase, which you can buy and sell.

Where can you buy crypto with Moneygram online?

Buying crypto with Moneygram using Coinbase

Coinbase, a cryptocurrency platform, announced in April 2021 that customers in the United States of America would obtain cryptocurrency with Moneygram-linked cards. To use the feature, log in to Coinbase, choose the cryptocurrency you want to obtain, tap "add payment option" in the Coinbase app and choose Moneygram. You can link a debit card or a bank account to your Moneygram account once you've logged in.

Buying crypto with Moneygram using eToro

eToro is one of the few platforms that supports various payment processors, making it simple to purchase Bitcoin using Moneygram.

To buy Bitcoin on eToro with Moneygram, log into your account, click "Deposit Funds," choose "Moneygram" as your preferred payment method, and enter an amount. Once your funds have been deposited, you can purchase Bitcoin.

Buying crypto with Moneygram using Xcoins

Xcoins is an exchange that focuses on connecting lenders to buyers. First, the buyer visits the website to "lend" some Bitcoin. Then, following a swift ID verification process, you will be asked to deposit the USD equivalent of the amount you wish to borrow and Moneygram processing fees and a fixed amount that will function as the loan's interest rate.

Buying crypto with Moneygram using Paxful

On Paxful's peer-to-peer marketplace, you can now purchase Bitcoin with Moneygram instantly. The process of purchasing Bitcoin on Paxful is quite simple. First and foremost, the buyer should create an account.

Select Moneygram as a method of payment and the amount you want to spend. Select a trader that sells Bitcoin using Moneygram. You can select the best vendor for you manually, or Paxful can do it for you.

You'll be directed to an online chat with the seller once the trade has commenced, where you can complete the transaction. The seller's Bitcoin will be stored in escrow, and they will be released into your account once you've marked that you've sent your payment.

Buying crypto with Moneygram using Local Bitcoin

You can purchase Bitcoin by directly connecting with other sellers.

Every seller on Local Bitcoin sets their exchange rate and payment method, and you can look for those who accept Moneygram.

1. First, visit the website and set up an account.
2. Once you are signed in, visit the main page to browse advertisements. Choose the amount you want to purchase, set your location, and choose Moneygram as your payment method in the search box. A list of people who accept the Moneygram method will show up with the number of coins you want to obtain.
3. Choose a buyer based on the number of trades, reputation, and response time from the list.
4. Click "purchase" to proceed with the trade. The process will take you to a page with the transaction details.
5. Send a message to the seller, click the button to accept the terms, and send a trade request if you agree.

Until your payment is confirmed, your Bitcoin will be held in escrow. After making your payment, click the "I've Paid" button. Your Bitcoin will then be released from escrow and delivered to your wallet.

Alternatives ways to buy Bitcoin

Сurrency ATMs

These work similarly to regular ATMs, except that you can use them to purchase and sell Bitcoin.

Exchange-traded funds

ProShares, a financial firm, launched the first Bitcoin ETF in October 2021. However, the fund (ticker: BITO) does not invest directly in Bitcoin; instead, it invests in Bitcoin futures contracts.

Peer-to-peer Bitcoin owners

Peer-to-peer tools like Bisq, and Bitquick allow you to buy Bitcoin directly from other Bitcoin owners, similar to how you would purchase items on Craigslist. When purchasing Bitcoin from individuals, proceed with extreme caution.

FAQ

Can I buy crypto with Moneygram with no ID?

Yes, you can do the deal if you find a private trade partner who accepts Moneygram without requiring you to show your ID.

Is Moneygram good for buying crypto?

Anyone with a Moneygram account can purchase, sell, and hold cryptocurrency. You can also use crypto at checkout for select purchases, but it's generally a bad idea to use any cryptocurrency as a form of payment. Instead, experts advise buying and holding crypto for the long term, just like other long-term investments.

Can you withdraw crypto from Moneygram

Users can now withdraw cryptocurrencies to third-party wallets through Moneygram Holdings.

How much does it cost to buy crypto on Moneygram

Start with miniature purchases if you're new to buying and selling cryptocurrency. With Moneygram, you can obtain Bitcoin and other tokens securely for as low as $1. Furthermore, because the crypto market is active 24 hours a day, you can buy or sell at any time.