Bitcoin Remains Cheapest Cross-Border Money Transfer Solution Despite Reduced Remittance Fees
Even though remittance fees around the world are lower than before, Bitcoin is still the cheapest solution to send money across borders today. The article tries to elaborate this point through world bank's recent report and Bitcoin's growing adoption rate at the other end. Bitcoin is often touted as the long-awaited answer to expensive remittance solutions, such as Western Union and MoneyGram. Sending money overseas is a very costly manner, even when using bank transfers, But a recent report published by The World Bank shows how remittance transfer fees have started to decrease slowly....
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PRESS RELEASE. To simplify banking and meet its users’ Remittance needs across the globe, Remitano, a global escrow-marketplace, has just launched a smart, free, and safe approach for cross-border money transfers. This system will allow users to send and receive money from other countries without incurring the high fees charged by most traditional banks. Remitano exchange now doubles as both a speed bank and a digital store to mitigate against losses from inflation. Free Remittance and Cheaper Average Costs for Global Money Transfers As a result of the launch of Remitano’s....
There was a time when cross-border remittance was expected to be bitcoin’s killer app. It was a simple equation: the global remittance market is huge, and the (often poor) people sending money to friends and family across borders pay high transaction fees that could (in theory) be reduced with bitcoin transactions. And yet, years later, the giants of the remittance market are far from slain, despite the average fees of 7.5%, and the growing crisis of bank "de-risking" – strategically refusing to process transfers to or from regions considered to present a high risk of money....
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