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March 11, 2018, 05:15:06 PM |
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Before talking about the cost of transferring money through Bitcoin, let us consider how the money transfer service typically benefits: When some charge transaction fees are credited, withdraw or transfer money. And when they convert your money they almost always earn money exchange money. Here's an example how a transfer service skews exchange rates for a profit. Let's say you want to move $ 10,000 in France. Your $ 10,000 can actually be worth 9,400 euros, but a bank may instead change your $ 10,000 to 9,000 euros. This means you have effectively lost 400 euros. If you convert a fee coin (for example, the US Dollar) from another discounted currency (Euro), you will lose money at the exchange rate only once. On the other hand, if you transfer money through Bitcoin, you will lose money twice in the exchange rate. Here's why: Let's say you want to convert euros to euro conversion, using bitcane as the transfer method.
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