SWIFT or SEPA, is it more profitable to buy Bitcoin with SEPA?
Greetings to friends, in this article we will consider the differences between SWIFT and SEPA, the advantages and disadvantages of each.
First of all, we will analyze the abbreviations themselves.
SEPA – deciphers pop letters as “Single payment zone in Euro”
And for the first time, SEPA translations were released in 2008.
So why is it more profitable to buy Bitcoin or Ethereum with SEPA?
The main advantages of this translation systеm are:
1) The speed of transfers is from 1 second to a day.
2) Lowest fees
3) Financial instruments for providing transfers are the same for all participants in the zones.
4) Broad digital support – all translation activities can be controlled from digital devices.
5) All transactions are single – SEPA covers all zones uniformly and there is no difference whether a transfer is made in one country or among different.
Now consider SWIFT transfers.
SWIFT – stands for international interbank systеm for transmitting information and making payments.
For the first time, SWIFT transfers appeared in 1973, which already indicates the “old age” of the systеm.
Consider why in Europe it is more profitable to buy cryptocurrency with SEPA rather than using SWIFT.
1) Transaction period – up to 5-7 days
2) High commissions – from 10-50 $
These parameters are most important for crypto traders.
That is why, if you are in Europe, and there is a choice between SEPA and SWIFT, we recommend that you buy cryptocurrency with SEPA.
