SP Coin Payouts: Transferwise

SP Coin Payouts: Transferwise

A cheaper, more reliable way to make a transfer

Since we've implemented Bitsafe for processing for SP coin payouts, there have been some legitimate concerns that have risen up over the past few months.

1. Fees

Bitsafe is a business that is dedicated to enabling adult commerce in a world where bankers actively work to exploit sex work businesses (by charging higher fees than non-sex-work businesses) or deny services altogether (don't get me started - this is a whole topic on its own).  Thusly, Bitsafe charges higher premiums for their services. For instance, the big one: 30 EURO fee annually for the debit card, 5 EURO fee to transfer to your bank account. etc. (see more pricing) It would be nice to avoid these fees.

2. Customer Service

Anyone who has had an issue, no matter how slight or large, has likely found themselves marking days and days off the calendar before hearing from Bitsafe support. And sometimes, the resolution is less than satisfactory, to say the least. Long short of it - it sucks. Maybe they will improve it eventually but...

Lately, there is a new option. Enter Transferwise. They now offer a debit card - for free!
Transferwise offers very affordable transfer rates and fees across borders with support for most countries. No annual fee to get a debit card, etc (see card details)

The best part? You can transfer from your Bitsafe account to Transferwise for only 0.75 EUROS. Best case scenario - you pay only 0.75 EUROS fee (Bitsafe transfer fee) + small currency conversion fee (unless you're EURO) Then, use the money by using Transferwise debit card.

So that's about it for now. Feel free to reach out if you have questions on this and I'll try to help best I can.

Ride true,