US Crypto Buyers: Wire transfers are now a legitimate alternative for US clients to buy cryptocurrencies from Transak, a leading Web3 payments infrastructure provider. Including wire as a purchase payment option is a huge step toward better accessibility and convenience for crypto enthusiasts nationwide. By enabling this payment option, Transak revolutionized user choice and freedom as the first and only fiat-to-crypto on-ramp.
Transak implemented wire transfers to give customers more payment alternatives, improving their overall experience. By facilitating universal accessibility across many currencies and payment methods, Transak aims to ensure everyone can discover a pleasant way to conduct Bitcoin transactions. This innovation is well-suited to the financial activities of American clients because wire transfers are commonly linked with bank transactions.
Notably, several high-value transactions have already opted for Transak wire transfers. The average order value for wire transfers is sixteen times higher than other payment alternatives on the platform, with a minimum order requirement of $2,000. This difference highlights the potential use of wire transfers to facilitate substantial bitcoin investments.
Transak’s Partners
Since their introduction, wire transfers have garnered considerable interest from Transak’s partner network; thirteen partners, Binance.US included, have joined. Transak’s attractiveness lies in its reasonable price. Compared to other payment methods used in the US, such as Apple Pay or credit cards, wire transfers are significantly more cost-effective, costing only 1%.
“Being the first to offer wire transfers for crypto purchases is a significant milestone for Transak,” said Yeshu Agarwal, Co-Founder of Transak. This accomplishment reflects our dedication to innovation and the provision of safer and simpler payment solutions for our users. We’re overjoyed to be at the forefront of efforts to increase crypto’s accessibility and improve its user experience.
US Crypto Buyers: Thanks to Transak, wire transfers are now easily accessible to many US consumers. With this payment option, users who have completed level 2 KYC verification on the site can purchase cryptocurrencies valued up to $25,000 daily, provided they meet the $2,000 minimum transaction requirement.
Why Transak is the Only On-Ramp Provider of Wire Transfer Support
Handling Difficult Processes
Implementing wire transfers for Bitcoin transactions involves complex operations, such as monitoring bank transfers and guaranteeing correct money reconciliation. This requires a detailed and time-consuming product development method; it is not an easy endeavour. US Crypto Buyers: Transak has put in a lot of time and effort to build a thorough system that ensures money moves smoothly, a testament to their commitment to providing excellent client service.
Preferred for High-Value Transactions
Many high-value transactions opt for bank transfers due to their convenience and security. Bank transfers result in four times the number of transactions as other payment options, such as cards and Apple Pay, show data from Transak’s UK operations. After realizing this, Transak introduced wire transfers to the American market, giving consumers a trusted and familiar way to pay.
Customized Geographic Expansion
The strategic decision to include wire transfers aligns with Transak’s global expansion objective. Its primary purpose is facilitating large-scale transactions in regions where this payment is familiar and convenient. In keeping with its mission to broaden its payment options by lowering costs and increasing the convenience of significant transactions for customers, Transak has taken this step.
Elevated Intent and Strengthened Security
Wire transfers are exceptionally secure due to the high degree of purpose they require, while all payment systems have strong security safeguards. Adding beneficiaries, transmitting money, and authorizing transactions involve several steps, each adding another layer of verification. This level of complexity enhances the method’s security and significantly reduces the likelihood of fraud.
