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> I'm not sure what you mean by it not working. I haven't tried but they're a regulated system, are you sure it's not on your end? Have you been reporting your

> I'm not sure what you mean by it not working. I haven't tried but they're a regulated system, are you sure it's not on your end? Have you been reporting your capital gains and losses over the course of the transaction on both sides? If not the tax authority may have some serious questions for you. It is actually very simple: A lot of these services do not provide services in Mexico. Really, the passive aggressive comment is not necessary. I assume that you live in the UK or the USA. Usually what happens is that people that live there live in a "technological bubble" where all of those first-world services are available. But most of them do not have service in most of other countries. I work in a B2B payment company and have had the opportunity to deal with these kind of issues. Believe me that cross-country payments is nowhere a solved problem. The blockchain technology definitely has something on it if used correctly.

arcticbull 8y ago
Sorry, it wasn't intended to be passive-aggressive, I was curious what the issue was, since by reading their documentation it should work. The tax question was a separate issue with using crypto, not an implication it was related. You didn't really address any of my criticisms however including the pending shutdown of crypto exchanges in Mexico or how reporting requirements factor into your cost calculations. Either way, another legitimate option for you to consider is an Interactive Brokers account which has great forex options (interbank rates) and Mexico is a supported country. They charge a commission of 0.2 basis points (0.2/100 of a percent) with a minimum of $2USD per order. There really are a lot of legitimate options that don't require cryptocurrency. People have been trading currencies for hundreds of years. There's a great writeup on the way you can do it here: https://gfmasset.com/2018/09/better-than-transferwise-saving-thousands-on-international-transfers-with-an-interactive-brokers-account/ https://gfmasset.com/2018/09/better-than-transferwise-saving... For interest you can even do USD-CAD exchanges with zero spread via Norbert's Gambit (https://medium.com/young-wild-and-cheap/the-norberts-gambit-trick-to-exchange-usd-and-cad-for-dummies-d47d7e2a5d8f https://medium.com/young-wild-and-cheap/the-norberts-gambit-...)

arcticbull 8y ago

Sorry, it wasn't intended to be passive-aggressive, I was curious what the issue was, since by reading their documentation it should work. The tax question was a separate issue with using crypto, not an implication it was related. You didn't really address any of my criticisms however including the pending shutdown of crypto exchanges in Mexico or how reporting requirements factor into your cost calculations. Either way, another legitimate option for you to consider is an Interactive Brokers account which has great forex options (interbank rates) and Mexico is a supported country. They charge a commission of 0.2 basis points (0.2/100 of a percent) with a minimum of $2USD per order. There really are a lot of legitimate options that don't require cryptocurrency. People have been trading currencies for hundreds of years. There's a great writeup on the way you can do it here: https://gfmasset.com/2018/09/better-than-transferwise-saving-thousands-on-international-transfers-with-an-interactive-brokers-account/ https://gfmasset.com/2018/09/better-than-transferwise-saving... For interest you can even do USD-CAD exchanges with zero spread via Norbert's Gambit (https://medium.com/young-wild-and-cheap/the-norberts-gambit-trick-to-exchange-usd-and-cad-for-dummies-d47d7e2a5d8f https://medium.com/young-wild-and-cheap/the-norberts-gambit-...)