Use bitcoin to transfer money from Italy(EUR) to Chile(CLP)

[Churris96]

Hello to everyone,
I wanted to ask you suggestions on how to take advantage of bitcoins to tranfer money from two different currencies. Bank transfers and other service providers steal money from you when trying to do so. That is why I am trying to look into bitcoin which is a new world for me so please be patient
Could you give me some suggestions about it? First I would like to ask you if you think it is a good idea or not and second in practice how can I do so?

Thanks in advance to everyone!!

[DdmrDdmr]

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It’s something to look into if you are an expat who is sending money back to your country. Many latam countries are receiving money from abroad in this manner. All in all, it should help you to save of fees, and speed up the delivery process, and probably saveguard against inflation … but it comes with a learning curve, both for the sender and the receiver.

In addition, you need to be completely sure that the recipient is going to be able to use those BTCs directly (which is more likely in Venezuela, and perhaps Argentina now than in other latam countries), or sell them off at an Exchange or p2p site without any issues.

[Churris96]

Yes of course I understand. Thanks for your answer.

Indeed if I buy bitcoin in euros and I share them to a wallet in Chile then how does this person in Chile can re-sell the bitcoins in exchange for chilean pesos? because at the end what I would like to do is to have this person in Chile to be able to receive money on a bank account at the end of the process.

[Fundamentals Of]

You've made the right choice. With Bitcoin, you can do away with high fees, long transaction and clearing periods, and of course unreliable third parties such as the banks.

I'd go straight to the point. First, you need to have a Bitcoin wallet. You may choose Electrum, Bitcoin Core, or other reliable wallets. The same goes to the person you'd be doing transaction with. With the wallet comes the Bitcoin address. You're going to be needing those addresses for your transactions.

For buying Bitcoin, you can do it here in this forum or with sites such as Binance, Coinbase, BestChange, Robinhood, etc.

Please be informed that there is risk in every step of the way. Always do a careful research first. Always double check. Ask questions.

[BrewMaster]

the biggest challenge in bitcoin has always been converting it to and from fiat. otherwise if you work fully with bitcoin, there is no issue at all, it is fast, secure and cheap to transfer to any person anywhere in the world.

the only option in some countries for people who can't use exchanges that work with their bank is to do the conversion peer to peer. meaning they have to find people around them (in their country) who would want bitcoin and have cash. there are different forums for it such as localbitcoins.com where they can find each other.
if they are careful (to not get robbed or scammed) it can be a good option.

[DdmrDdmr]

<…>

Then the recipient (or a trusted proxy) would need to sell the BTCs at an Exchange of p2p site, and transfer the fiat (Chilean pesos) over to the desired bank account.
There are things to query though on the recipient’s side, such as if the bank would have any issues receiving fiat from an Exchange (or explore the p2p route), and if the transferred funds would amount to any value that may trigger some clearance process at the bank.

I’m not familiar with what Exchanges people use in Chile, nor their current regulation status in practice, but you can get an idea from this article:
https://www.criptonoticias.com/finanzas/donde-comprar-vender-bitcoin-btc-criptomonedas-chile/

Note: there's a Spanish local board here. It's not too active, and I'm not aware of any current poster from Chile there now.
See also: Suben operaciones a través de Localbitcoins en Venezuela, Argentina y Chile

[Tushar Ramani]

That is what threatens the banking business and therefore they will eventually end up creating a stablecoin. Well, I squeeze all of my cross borders transactions to crypto only.

[FireBallex]

Hello to everyone,
I wanted to ask you suggestions on how to take advantage of bitcoins to tranfer money from two different currencies. Bank transfers and other service providers steal money from you when trying to do so. That is why I am trying to look into bitcoin which is a new world for me so please be patient
Could you give me some suggestions about it? First I would like to ask you if you think it is a good idea or not and second in practice how can I do so?

Thanks in advance to everyone!!

You only need a Currency to buy bitcoin and after getting bitcoin it knows no boundaries, it can be sent to any part of the world and it doesn't work base on your location or anything, you just have to tell the other party or your friend to get his or her own bitcoin wallet and ask for his or her bitcoin address to send the Bitcoin.

[Carlton Banks]

Indeed if I buy bitcoin in euros and I share them to a wallet in Chile then how does this person in Chile can re-sell the bitcoins in exchange for chilean pesos? because at the end what I would like to do is to have this person in Chile to be able to receive money on a bank account at the end of the process.

it's quite likely that your counterparty in Chile would be able to find someone to trade bitcoin for chilean pesos in cash. Although this may take time.

If you really want to use bank accounts, https://bisq.network is a fast way to do so without needing to wait for applications (Bisq lets traders use their bank accounts directly without transferring money to a website, it uses escrow agents from the system instead). You could also buy bitcoin from Bisq to send to your counterparty.

Also, if your counterparty chooses, they can simply keep the bitcoin, or find something to spend it on, avoiding the step of converting to pesos altogether.

[Rodeo02]

Hello to everyone,
I wanted to ask you suggestions on how to take advantage of bitcoins to tranfer money from two different currencies. Bank transfers and other service providers steal money from you when trying to do so. That is why I am trying to look into bitcoin which is a new world for me so please be patient
Could you give me some suggestions about it? First I would like to ask you if you think it is a good idea or not and second in practice how can I do so?

Thanks in advance to everyone!!

.
You need to considered the price of Bitcoin which is volatile , if you want to transfer money to other person then the value you send to him or sended to you will not be the same amount you want to recieve . If you can accept that then it is better alternative considered also the transaction fee you need to use when sending BTC .

Transferring money to other people is easy using crypto currency it's only up to your country if you can easily buy it there.If you can find local exchange that automatically converted your Bitcoin to your local currency you can also use that service.

[fullhdpixel]

Nah man, there is nothing hard about it, just get yourself a wallet and you load it with bitcoins and then you get the address of the person you’re sending to and send to them. You can buy coins from exchanges and then move them to your private wallet.

I have been receiving payment from clients from different countries and the last payment I got as a freelancer was from a small company in Ireland and they sent it , it didn’t take a lot of minutes before I got it. I don’t make use of exchanges in selling my coins, I prefer making use of P2P cause it gives me value for my money, but exchanges will try to squeeze the value or everything.