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Author Topic: Bitcoin remittances: a solution for migrant workers  (Read 2078 times)
botany
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December 21, 2014, 05:31:30 PM
 #21

Instant Bitcoin remittances are available to those not having a bank account, and the commissions are minimal if compared to most popular money transfer services.

It would help if we could know what the commissions are. The article doesn't specify it.
A percentage number is always useful, to get an idea.
There is no real reason to need to use their service to send money back "home" via bitcoin. All you need to do is buy bitcoin on an exchange then send it to an address that a family member controls in their home country then the family member can sell the bitcoin on an exchange and/or use it to buy goods/services

I guess this service would be used by people who don't have access to exchanges to sell their bitcoins. This service would act as the exchange as well.
Charging a fee for this service is okay, but the question is how much do they charge? If it is only a marginal improvement over traditional money transfer services, then there could be opportunities for other service providers to come in.
pawel7777
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December 21, 2014, 05:43:09 PM
 #22


I guess this service would be used by people who don't have access to exchanges to sell their bitcoins. This service would act as the exchange as well.


They are aiming for the 'regular' people, who are not even aware what is bitcoin and how it works.


There's another similar Philippine bitcoin remittance service, that allows withdrawals in bank ATMs:

http://www.coindesk.com/bitcoin-firm-enables-remittance-withdrawals-450-philippine-bank-atms/



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