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Buy Crypto with MoneyGram

Buy Crypto with MoneyGram

Dylan Matthews
Fact Checked
Oct 10, 2022

Summary: MoneyGram does not directly offer cryptocurrency investing services through its popular money transfer app. That said, they do allow customers to deposit funds into licensed and regulated trading platforms to buy and sell digital assets.

For investors looking to get started quickly, we recommend the eToro exchange because they offer instant deposits from MoneyGram to trade a wide variety of crypto assets.

Table of Contents

Best Exchange for MoneyGram Deposits

Platform Highlights

  • Fast and Cheap USD, EUR, GBP and other fiat deposits from MoneyGram.
  • Trade over 80 Crypto Assets on a Trusted and Regulated brokerage platform.
  • Low and variable trading fees with tight spreads.
78% of retail CFD accounts lose money.

How to buy Bitcoin and Crypto with MoneyGram

As mentioned above, the easiest way to invest in digital assets with a MoneyGram account is through a regulated trading platform in your jurisdiction. We generally recommend the eToro exchange because they offer fast deposits from over 140 countries and are globally regulated to provide crypto brokerage services.

You can start buying cryptocurrencies with MoneyGram with our simple 4-step guide:

  1. Create an account: Sign up to the eToro trading platform.
  2. Deposit funds: Select the 'Deposit Funds' button to get bank transfer details, then log in to your MoneyGram account and send fiat to your unique deposit information.
  3. Find Crypto: Once the money hits your account, find the Crypto you want to buy on the eToro platform with their 'Discover' tab.
  4. Execute trade: Input the amount you want to invest and execute your trade.
Buy Crypto with MoneyGram
Deposit Funds with MoneyGram to buy and sell Crypto.

Is MoneyGram Crypto-Friendly?

Yes, MoneyGram is crypto-friendly. It allows customers to send funds from their MoneyGram app to regulated crypto brokers around the world. The company has also partnered with Ripple (XRP), a blockchain company, to pilot a new program that will allow MoneyGram customers to send money using Ripple's cryptocurrency, XRP.

The goal of the partnership is to speed up international money transfers and make them more efficient. The pilot program is currently live in the United States and is expected to roll out to other countries in the future. MoneyGram is also considering using XRP to settle transactions on a blockchain platform, which would further reduce costs and improve efficiency.

Can I Stake Crypto on MoneyGram?

The short answer is no. The MoneyGram app does not offer any native services for customers to deposit cryptocurrencies like Bitcoin, Ethereum and stablecoins to earn interest.  However, it’s possible to use a third-party service like eToro or BlockFi to send BTC, ETH or other digital assets to an interest-bearing account and then withdraw the funds to your MoneyGram account.

About MoneyGram

MoneyGram is a global provider of money transfer and payment services, with a network of approximately 347,000 agent locations in over 200 countries and territories. MoneyGram offers convenient and reliable money transfer services for consumers who are not fully served by traditional financial institutions.

Consumers can quickly and easily receive or send money around the world without a bank account, and can also enjoy the freedom and flexibility to send money how they want - whether it's cash at an agent location, through a mobile wallet, or online.

MoneyGram

MoneyGram is committed to helping consumers stay connected to loved ones around the world. The company has a long history of helping people in need, including disaster relief efforts and critical aid for children, families and seniors.

MoneyGram has been recognized as a top 100 company on the Fortune 500 list for two consecutive years and is also a leading provider of money transfer services to consumers who are not fully served by traditional financial institutions.

Dylan Matthews

I am the Founder & CEO of Buy Bitcoin Bank and was previously an engineer for a Prop trading firm in Crypto.

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