So my yankee war chest is starting to grow, but to move it into my GBP account I must incur a conversation fee from Wise. I had an idea, though. Would it be practical to open a USDC or Tether wallet, buy some Eth/Btc/Doge/cumrocket or whatever and sell that as GBP? Curious, I doubt I'm the first to think of something like this. FA might throw a hissy fit though but surely I can create a matching invoice to compensate. Thoughts?
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Avoiding Wise USD conversion fees?
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Originally posted by ApeShape View PostSo my yankee war chest is starting to grow, but to move it into my GBP account I must incur a conversation fee from Wise. I had an idea, though. Would it be practical to open a USDC or Tether wallet, buy some Eth/Btc/Doge/cumrocket or whatever and sell that as GBP? Curious, I doubt I'm the first to think of something like this. FA might throw a hissy fit though but surely I can create a matching invoice to compensate. Thoughts?
What are the charges in doing this? Are they less than the Wise fee?
How long would it take? Are you willing to accept the risk that a volatile currency could lose a significant % between the purchase and sell transactions?
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