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Usually, when i do international transfers, i expect a fixed known rate. Transferring to bitcoin or whatever and then having to carry the risks in wild swings i
by fork1 6y ago
Usually, when i do international transfers, i expect a fixed known rate. Transferring to bitcoin or whatever and then having to carry the risks in wild swings in value is not really my cup of tea.
- lolmm 6y agoWhen sending international transfers to a different currency, you often get unreasonably bad rate, banks kinda give you the exchange rate they see fit. Which often turns out to be like 4% fee. Paypal is the worst at that, but many normal banks are also bad. If you send 1 mill, you end up paying 50k just for exchanging eur to usd for instance
- HeadsUpHigh 6y agoYou don't do bitcoin. Bitcoin is impractical. We are talking about crypto in general, not just bitcoin. Nowadays you can for example get xlm from a cex, move it to your wallet and send that. It's fast and with very low fees( lower than paypal etc). There's even a stablecoin you can exchange it for so you dont have to worry about price swings.
- fork1 6y agoHow low are you talking about? And hidden fees such as the spread do matter. Last i checked, which was a while ago, paypal wasn't that flash compared to alternatives.
- HeadsUpHigh 6y agoCouple cents with current prices. Ada is reasonably low and nano is feeless but the network is supported by rainbow farts and unicorns so I wouldn't trust it much.