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Yeah, if you're fully buying into BTC, doing BTC transfer makes obvious sense. I was trying to see which is cheaper for the use case of "I hold USD in the US,
by greenshackle2 6y ago
Yeah, if you're fully buying into BTC, doing BTC transfer makes obvious sense.
I was trying to see which is cheaper for the use case of "I hold USD in the US, I want to spend it locally as HKD in Hong Kong", which I think is what pbhjpbhj is asking.
- vmception 6y agoyes that is one use case of digital assets like BTC: converting any international money transfer to a domestic money transfer, greatly reducing compliance flags, time and possibilities of banking errors that no bank wants to be accountable for and figure out themselves. often times leaving no record in payment networks like SWIFT, because only two local payment networks were used, one in their respective monetary union. the cost is 100% tied to liquidity of that market. the bigger and deeper the market, the lower the transaction cost. It is more likely that HKD's bitcoin market would be less liquid than USD's bitcoin market, so you would want your bank in Hong Kong to accept a USD deposit from a local OTC broker, and then convert to HKD at that point if you wanted or needed it.