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What EMIs Allow Withdrawal from Kraken or Other Major Exchanges?

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jeertweet

New member
something ive been doing with TransferWise is sending money directly from Paxos ($PAX). I just redeem the amount i need on the platform and wire to my USD account in TransferWise. No fees, KYC on Paxos is simple, and I get my money on the same day. And its not obvious its crypto related money as well.
 

cryptovkng

New member
something ive been doing with TransferWise is sending money directly from Paxos ($PAX). I just redeem the amount i need on the platform and wire to my USD account in TransferWise. No fees, KYC on Paxos is simple, and I get my money on the same day. And its not obvious its crypto related money as well.

Is it possible to redeem money from the Paxos platform as a business also? If yes that would be really beneficial for us that trade crypto using an offshore IBC. Redeem from Paxos and send to Transferwise, spend with their business debit card. No taxes, heaven!
 

mishari

New member
You need an EMI has crypto wallet and fiat wallet together. Kraken BTC -> Wirex BTC wallet -> Exchange (1%) to any currency EUR, GBP... and use the fiat wallet of Wirex to transfer to your bank account.

There are many ways of doing it, your bank may just has already blacklisted major exchanges Kraken, Coinbase, Bitfinex , Luno. etc.. You can use a not so well known exchange with fiat walllet and try transfer to your bank. If that works good for you.

You can try Wirex, SpectroCoin, since they can exchange BTC internally .. and your bank doesnt sees them as crypto exchange. (Of course it comes with a fee, they need to make money too right)

Just my 2 cents.
 

Admin

Forum Moderator
Staff member
Elite Member
Kraken BTC -> Wirex BTC wallet -> Exchange (1%) to any currency EUR, GBP
This looks like a valid method to hide the crypto exchange for your bank, do you know that this works?
 

WoWNull

Entrepreneur
Is it possible to redeem money from the Paxos platform as a business also? If yes that would be really beneficial for us that trade crypto using an offshore IBC. Redeem from Paxos and send to Transferwise, spend with their business debit card. No taxes, heaven!
Can you sharw with me platform work with Paxos, i have PAX coins and want to send them to my transferwise.com i have business and personal account with them.
 

mishari

New member
This looks like a valid method to hide the crypto exchange for your bank, do you know that this works?
Yes this works for withdrawing btc only... Wirex doesn't like to send Fiat money to kraken Fiat wallet, I tried transaction it but denied. But.. using wirex exchange to btc and send to kraken is good. 1% fee.. for exchange.
 

mishari

New member
Yes this works for withdrawing btc only... Wirex doesn't like to send Fiat money to kraken Fiat wallet, I tried transaction it but denied. But.. using wirex exchange to btc and send to kraken is good. 1% fee.. for exchange.
Always try with small amount... I didn't send my btc to kraken btc wallet, but I send it to binance... It's uses btc wallet address .. should work
 

mishari

New member
On another note, brexit is around the corner... Wirex is UK based... Their bank is Onpex Luxembourg... So if a brexit no deal... Problem may arise.. just a heads up.
 

Bmw850

BANNED MEMBER
I found this Kraken support page:
in the link you have posted , it s written "Ironically, most of the issues we've seen with funding have been with online-only "cloud" banks. In contrast, traditional banks with physical branches have generally worked fine with our clients. "
So true and yes ironic.... the neo-banks against the neo-currency
 

Giantmoose

New member
something ive been doing with TransferWise is sending money directly from Paxos ($PAX). I just redeem the amount i need on the platform and wire to my USD account in TransferWise. No fees, KYC on Paxos is simple, and I get my money on the same day. And its not obvious its crypto related money as well.
Still, we need to be vigilant if TW may block the account as they state that they would have no issue of receding funds from crypto exchange under the condition where there is bank account with your name on it.
 

panakota

New member
Still, we need to be vigilant if TW may block the account as they state that they would have no issue of receding funds from crypto exchange under the condition where there is bank account with your name on it.
This sentence is confusing. How can you receive funds from crypto exchange from a bank account with your name on it?
 
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