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Pretty funny to see that SEPA money transfer from Kraken to EU bank account costs just €0.09 for any amount. Arrival is guaranteed (though can be late too of co
by juskrey 10y ago
Pretty funny to see that SEPA money transfer from Kraken to EU bank account costs just €0.09 for any amount. Arrival is guaranteed (though can be late too of course).
So the cheapness of bitcoin and high cost of modern fiat transactions are both overstated.
- Laforet 10y agoThe same way Uber was/is cheaper than Taxi, the cost is subsidised by someone else (Uber's investors, or in this case miners and speculators of Bitcoin)
- juskrey 10y agoI don't think physical automatic wire transaction cost is more expensive than SMS. High transfer/transaction fees in most banks are, on contrary, are subsidizing losses from other risky activities.
- mhluongo 10y agoIn eg the US, a domestic wire will cost you $30. In the US and EU I believe, credit card fees are much worse (1.5-3%). If paying internationally cross-currency, you'll often lose quite a bit in the exchange. Though I see that you said "modern fiat transactions", so maybe payments in the US don't count :)