Wise alternative when you are paid in USDT, not by bank transfer
Wise does not handle crypto and does not accept money from P2P crypto sales. Unigox is a Wise alternative for people paid in USDT or USDC: you sell them for local money. For an ordinary bank transfer, stay with Wise.
When Unigox fits better than Wise
You earn in stablecoins
Deposit the USDT or USDC you were paid, sell it on Unigox, and a P2P merchant or a payment business pays the local money to a bank account you name. Name one outside Wise, since Wise's rules bar money from P2P crypto sales.
Your currency is not on Wise's list
Wise's list of currencies it sends to leaves out both CFA francs (XAF, XOF), so a transfer there is not an option. If you are paid in USDT and need CFA francs, see whether Unigox lists them today.
When to stay with Wise
You send bank to bank
Wise converts and sends in one step, with no crypto in the middle, to naira, rupees, rand and many other currencies.
You want a Wise card and account
Wise's account holds many currencies, gives you local account details and comes with a debit card.
Wise vs Unigox
Wise prices a bank transfer and Unigox prices a stablecoin sale, so the Fees row shows how each one charges, not which is cheaper.
| Topic | Wise | Unigox |
|---|---|---|
| What it is | An international transfer service and multi-currency account with a debit card. | A service for swapping USDT or USDC with local money, with a P2P merchant or a payment business on the other side of each trade. |
| Crypto | Not through the account. Wise does not allow buying, selling or trading crypto with it, and does not accept money from P2P crypto sales or from crypto platforms without a UK or EU licence. The Wise card can still be used on crypto platforms. | Supported: USDT and USDC. |
| Currencies | Wise lists 49 destination currencies, and its calculator quotes a few more, but not XAF or XOF. | Unigox keeps its own list, which changes as P2P merchants and payment businesses start or stop trading a currency. |
| Fees | A transfer fee on top of the mid-market rate, from 0.24% in the UK. For 1,000 pounds by bank transfer, the fee is 5.14 pounds to India and 6.07 pounds to Nigeria. | Set by the P2P merchant or payment business that takes your sale, with the Unigox fee built in. |
| How customer money is held | In the UK, Wise Payments Ltd safeguards your balance with a mix of cash in banks, government bonds and cover from authorised insurers, kept apart from its own funds. This e-money is not covered by the FSCS. | During a trade the crypto sits in an on-chain escrow that Unigox can release only to the buyer or the seller. |
| Identity check | Required. Wise asks for a passport, national ID card or driving licence, and calls the check a legal requirement. | Required before your first trade, whatever the amount. |
| Regulation | Wise is authorised by the UK Financial Conduct Authority under the Electronic Money Regulations 2011 to issue e-money, firm reference 900507. | Unigox works through two companies: UNIGOX NETWORK CORP. in Canada handles the local-money side and is registered with FINTRAC as a money services business and with the Bank of Canada as a payment service provider; UNIGOX NETWORK CORP. in Panama handles the crypto side, including wallets and escrow. |
UnigoxHow to cash out USDT if Wise is your main account
Verify yourself first
Unigox checks your identity before your first trade.
Send in your USDT
Deposit USDT from the wallet you are paid to, on the network the deposit screen names. Sending another token, or on another network, can lose the funds.
Sell and get paid
Pick your currency and amount, and a P2P merchant or a payment business sends the local money to the bank account you name, one outside Wise.
Wise and USDT questions
Which apps like Wise work if I am paid in USDT?
You need an app that handles crypto, which Wise does not. On Unigox you sell USDT or USDC, and a P2P merchant or a payment business pays you local money. Have it paid to an account outside Wise, since Wise does not accept money from P2P crypto sales.
Who are Wise's competitors if I am paid in crypto?
For ordinary bank transfers, Wise competes with other money transfer services. If you are paid in USDT or USDC, Unigox is one option: you sell them for local money, paid to an account outside Wise. We also compare Unigox with Payoneer, RedotPay and MoonPay, and say when to stay with each.
See all comparisonsIs there an alternative to Wise for currencies it does not quote?
Wise does not send to either CFA franc (XAF, XOF), and its calculator does not quote them. If you are paid in USDT or USDC, check whether Unigox lists your currency.
What are Wise fees, and how does Unigox charge?
Wise charges a transfer fee on top of the mid-market rate: from 0.24% on its UK pricing page, and 5.14 pounds to send 1,000 pounds to India. On Unigox the fee is already in the rate you are shown for your sale. One prices a bank transfer and the other a stablecoin sale, so the two numbers do not compare directly.
See your USDT rate before you sell
Wise does not handle the crypto side. On Unigox, the rate for your USDT amount shows with its fee already in it, before you confirm a sale.
Wise and other names and logos are trademarks of their respective owners. Unigox is not affiliated with, endorsed or sponsored by them. Information about other companies comes from public sources, mainly the companies' own websites, and each company can change its products and fees at any time.