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TransferWise can send rupees to Indian bank accounts and I am assuming the reason they cannot take money out of India is because of Indian Govt forex regulation
by sumedh 9y ago
TransferWise can send rupees to Indian bank accounts and I am assuming the reason they cannot take money out of India is because of Indian Govt forex regulations.
- candiodari 9y agoAnd there's the next massive bitcoin advantage : you can bypass financial regulations for normal people. "Somehow" these rich bankers and regulators (mostly ex-bankers of course) do not see the need for poor people to be able to transact either internationally, or in some countries, at all (in anything but cash, and thus very short distance only). With bitcoin it's 30$, but there's no percentual charge (in fact the exchange rate is often better than market for BOTH participants because bitcoin is rising in value)
- sumedh 9y ago> because bitcoin is rising in value and what happens when it drops in value, the poor guy lost money
- candiodari 9y agoWhereas if you use a bank transfer, a 3% drop is the base cost on every single transfer. Bitcoin is volatile, but you'd very rarely have costs that high, and as I stated before, usually the cost would be negative.