> An example often cited for El Salvador, where a US worker A sends money to a family member B at home. >If A uses banks and dollars, B may need to travel to a

> An example often cited for El Salvador, where a US worker A sends money to a family member B at home. >If A uses banks and dollars, B may need to travel to a bank (long trip on a bus through areas not very friendly to strangers), pay sizeable cross-border commission, evade gangs looking for people withdrawing money, etc. I understand the advantages of USDT, like making crossborder transactions faster/cheaper. However the often cited example but not 100% accurate because it ignores some of the features of the Salvadoran financial system. There is a a system of "financial agents/correspnondents". There is no need to visit a branch of the bank to receive a remmittance if it is under US$ 500. That can be done in a Supermarket, pharmacy or the main tienda in town. It can even be done with an app (like the one used by the largest credit union). This is the map of one of just one of the networks, this network owned by cooperatives owned by its users, like a credit union, and not a private company like a bank or multinational bank.: https://www.fedecredito.com.sv/puntos-de-atencion https://www.fedecredito.com.sv/puntos-de-atencion > With crypto, they could receive it at home. Remmittances can be received using finantial apps too. The largest private bank in El Salvador has a simple bank account. It can be opened with a selfie, a photo of the ID card. Other banks also offer this simple bank accounts. Currently the transaction costs via the normal remmittance system, are lower, than by using the only three bitcoin atms in the country. Twitter users reported that recently when the bitcoin price reached $40,000, the only Bitcoin ATM in San Salvador ran out of cash. And that the only way to contact their technical support was via Whatsapp message to a phone number based in another country, Colombia.