Using Wise (formerly TransferWise) to buy cryptocurrency is common among international traders and remote workers. Wise offers fast multi-currency transfers, making it a frequent payment method for peer-to-peer (P2P) crypto trading.
Traders often risk account freezes if they violate compliance rules. This guide explains how to buy crypto with Wise, how P2P escrow works, and how P2P stablecoin routing compares to standard Wise cross-border fees.
Wise's policy on cryptocurrency
Wise’s user agreement prohibits using its debit cards to directly fund unregistered or high-risk crypto exchanges. However, you can send money via Wise to another individual's bank account or Wise balance through a P2P escrow platform like Binance P2P, Bybit P2P, or OKX P2P, as long as you follow two rules:
- Do not use crypto-related terms in the payment reference. Avoid words like "USDT," "Bitcoin," "Binance," "Crypto," or order numbers. Leave the payment reference blank or write the counterpart's full name.
- Match the Wise account name with your exchange KYC name. Do not use third-party transfers. Your exchange profile and your Wise account must use the same legal name.