How to Avoid Paying Too Much Fee when Cashing out Bitcoin via Wirex Credit Card?

The Wirex offers normal bank (visa debit) cards in currencies of USD, EUR and GBP. The way it works is that you can send bitcoins to Wirex accounts, do the exchanges into local currencies account, then spend the cash happily.

However, when you do the exchanges, it involves an exchange fee 1%.

This can be reduced if you go for the following route.

1. send bitcoins to coinbase - usually a fixed fee 0.0005 BTC.
2. sell the bitcoins to your local currency - usually a smaller fee
3. cash out to paypal (free)
4. send funds from paypal to your bank account (free)
5. send funds from your bank account to Wirex account (yes via the local bank account number)

I managed to save around 50% of fees via this way!

---

Every little helps! I hope this helps!

Steem On!~

Reposted to Computing & Technology

If you like my work, please consider voting for me, thanks!
https://steemit.com/~witnesses type in justyy and click VOTE



Alternatively, you could proxy to me if you are too lazy to vote!

Also: you can vote me at the tool I made: https://steemyy.com/witness-voting/?witness=justyy