You Need To Stop Wiring Money
The Future is Bright for the Financial Ecosystem with this new Digital Asset
When we transferred money overseas, we had to top up extra cash. Exorbitant remittance fees, foreign exchange rates, and commissions all meant that we had to transfer more than what our recipient needed, just so we could ensure that the recipient actually received the full amount.
The extra cash? To the pockets of banks and services.
It is a small wonder why cryptocurrency blew up: we can now transfer money at jet speeds and our recipient actually gets an amount substantially closer to the amount they wanted.
“Cryptocurrencies, however, haven’t broken through for reasons beyond onboarding complexity.”
Let’s paint a scenario: my friend at Seattle wants me to wire him $1K. No problem — I’ll send it in cryptocurrency, which you can then exchange to fiat. This way, you’ll receive your funds in less than an hour, and I don’t have to actually wire you more money to cover exorbitant fees!
