Bitcoin is necessary for Remittance Industry??

[niisarearning]

You probably tried to send some kind of bank transfer. In such transactions  sometimes banks make minimum transaction amount of $100, fixed fees about $30 and extra % of the total amount. That obviously seem retarded but there is also a lot payment systems like paypal or some money transfer systems like Western Union, which have a lot of similar services with smaller fees. Anyway, crypto is not the only solution for that problem. People invented many things to make small international transfers easier.

I tried with western union and other money transfer service . I don’t think any useful information in your quote . Better you go outside and try to send money to any one in outside country. Then you will find real potential of bitcoin.

[bhabygrim]

Yes using Bitcoin is more convenient than other remittance center or even banks,
In crypto it would only take a few minutes for the other person to recieve it but in remittance center it would take hours and not to mention the huge fee that it would cost you compare to Bitcoin,
And you don't have to leave your house if you want to send money from crypto you could do it anywhere anytime.

[Ucy]

Bitcoin is already being used for this purpose. Is just not very common yet due to low adoption rate,  fear, trust issues, complicated transfer methods and lack of awareness.

[niisarearning]

Thats when i realised the real potential of Bitcoin . Then after Came back to crypto space after long time . I got real trust . Then after market also started to move towards bullish run (Coincident) . Now i am feeling proud that i am in crypto community.

You did not say if you could or could not send money to your cousin. How do you tell a story and forget to tell the end of the story?

bitcoin is very good, but we still depend on the banks to spend bitcoin in the real world, unless you live in the European Union or the United States and you have bitcoin debit card

I sent or not that is not important here . There is lots of way of sending money even without bank or money transfer . Even exchanges suggested that method fo quick transfer but it is too risky and bit more charge . I am telling this because why bitcoin is more potential for future and there is no doubt in bitcoin growth

[EdvinZ]

Money transfers in cryptocurrency are fast, convenient, cheap. In my opinion, it is obvious that digital money has significant advantages over fiat currencies. The blockchain technology allows you to make a money transfer in any urgent situation.

[Bohdan Rabeha]

Is just not very common yet due to low adoption rate,  fear, trust issues, complicated transfer methods and lack of awareness.

This is the main problem. Because there are many people who interfere with us to develop this technology. Competition is big in the world today.

[Lizzylove1]

Yes bitcoin is necessary to remittance industry, but for now it's not scalable, each time it's bullish, transaction fee usually jack up and the network get clogs, like we have now, my bitcoin I sold for a military officer has been pending for days now and these miners are greedy. We need lightening network now.

[zloadr12]

I am really sorry to see your post. It hurt me that about odd situation of your cousin and thanks crypto community especially to Bitcoin to overcome your situation.

[ttcsalam]

It's just a great opportunity. It's a great opportunity for us. We can move it quickly if we want to. It's another country from one country. It's working as a good medium for everyone at a low cost.

[BlackFor3st]

Yes bitcoin or I say blockchain is the best solution to your problem as you don't need any necessary documents in order to send your money to your friend and it will only takes like 30minutes to 3 hours depends on transaction fee compare to 2-3 days to be sent.

The government and also the banks are very strict especially in transferring funds to other countries and with different bank account or even in any remittances. That is the reason also why most of the governments oppose the usage of bitcoin and other crypto currencies as they will not be able to monitor the in and out of money in their respected countries.

 

[xvids]

It is best to use for sending money because it is way more cheaper and more faster than using a remittance center.
Just imagine sending money to another country would cost too much and also the transaction would take days but with crypto or Bitcoin ,
It would only have a small transaction fee and doesn't care about what country you are at and what country would be your reciever so the fee would still be the same.
And it would only take some time to confirm your transaction so it is a great way to send money.

[maldini]

That is why using cryptocurrency in sending or transeferring money is more convenient than using a third party such as banks or any other remmitance company. It saves you time and money, you will not need to pay bank fees, pass necessary documents or details, with crypto all you need is an address.

This is one of the benefits of using crypto where we can freely transact without knowing the government because nobody regulates it. In the future bitcoin will be a solution for many people who experience similar problems like you, they will get financial freedom.