Is Bitcoin and blockchain suitable for international remittances?

[bunca]

With your knowledge of the blockchain and bitcoin, do you think bitcoin and blockchain are suitable for international remittances? Please post your opinion

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[JaredStein]

Yes it is good for sending money but only if the country has not banned bitcoin.

[Jrein23]

Yes, its currently used as a good option for remittance right now. Cutting the waiting period to half, I prefer to send BTC/Alts rather than sending FIAT because its more faster.

[antchains]

Bitcoin can significantly reduce agency costs
For Bitcoin remittance providers, customers tend to be skilled early adopters, which we call online and mobile, while online rates average between 1 and 3%

[tabas]

do you think bitcoin and blockchain are suitable for international remittances? Please post your opinion

Yes, that's bitcoin is intended for. For sending money to others directly and no need of third parties so bitcoin is ideal for international remittances but the deal here is you need to pay the right and recommended fee so that your transaction will not take so long before it arrives to the receiver.

[fattyforhire]

Yes, using bitcoin is much easier to make international transfers. For example, in my city there are no international banks, and if it were not for the bitcoins, I would not have had the opportunity to engage in international activities.

[Urbinklin]

Yes, it's very convenient. You do not need intermediaries in the form of a bank. The commission is much smaller, the transaction will not be lost in transit. Therefore, if possible, I prefer to use bitcoin for international transfers.

[MUG1WARA]

of course it will provide ease in long-distance transactions that can only be done in blockchain and cryptocurrency because it is very easy to do by users

[akamit]

With your knowledge of the blockchain and bitcoin, do you think bitcoin and blockchain are suitable for international remittances? Please post your opinion

If you meant for bitcoin transaction within the blockchain from one user to another then it is not an issue. You are good to go.

But if you meant to send bitcoin as payment and receive as usd or your local currency then it depends on where you are from.
Such as if you are from one of the Asian countries (where bitcoin is banned) and want to receive payment in your local currency through the bank and the payment was sent by bitcoin then you might get the problem.
Because afaik that some Asian countries have a declaration process about "the source of fund", so in common sense, you can't declare that the fund source is bitcoin.

But if you are receiving in western countries then it might not be a problem as long as you pay the tax. Please correct me if I am wrong.

[jinksters09]

Yes I think it created for that purpose also to allow its users to send money to their love ones and families but this can only be possible and compatible with remittance if the transaction and the sender or receiver could be verified by the local governments.

[Achargeturry78]

With your knowledge of the blockchain and bitcoin, do you think bitcoin and blockchain are suitable for international remittances? Please post your opinion

It is implemented now on the philippines, a lot of money remittance accepts bitcoin, It is really suitable sir. But if the country bans bitcoin then its a problem and it is another issue.

[jeffer8035]

Of course it is suitable for remittances as well as we get rid of the companies that charge us high rates and do not let us send large amounts and ask us or monitor our money and we do it instantly lasts in what goes through the chain of blocks and wait for one the comfirmations and ready us yega one way to our portfolio and then we will change it in localbitcoin or person to person it seems great

[liuqi]

With your knowledge of the blockchain and bitcoin, do you think bitcoin and blockchain are suitable for international remittances? Please post your opinion

Obviously! It is suitable for international remittance because it implementing in some countries and many countries are like this concept so in future completely changed.
Some of the countries are avoid this technology but every year digital technology is improved  in all over the world. So automatically accept this technology

[Dapper]

Yes suitable and I use it for this purpose every single day.   

[bitvelk]

I use only bitcoin in order to carry out international money transfers. I like the fact that you do not need to choose a bank with the least commission and other favorable terms, since there is nothing more advantageous than bitcoin.

[Tharel]

Definitely yes, I believe it is designed to transfer funds from one place to another may it be local or international transfer, it doesnt matter because it is the main concept of blockchain technology.

[Digital Mutant]

yes
now more that ever because fees are very low but it is important for the receiver to be sure that banks in his country accept money from exchanges

[bigbosma]

Of course, this is one of the most beneficial privileges of using bitcoin. International transfers with it are very profitable and fast enough, moreover, quite cheap, compared to banks and other services for money transfers.

[edsnow2017]

Yes bitcoin has this capacity to send money through international remittances  but not only with remittances also can do in international banks(only if banks agree) and one more thing that if your country didn't banned the use of bitcoin as mode of payment.

[ASHLIUSZ]

Yes, it truly has a good impact on the remittance and all sort of transaction within countries as well beyond boundaries and borders. The good thing with blockchain is that it can be used on any need. Unlike the service the implementation of blockchain gives efficiency in functioning without flaws.