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I am extremely skeptical that it will only cost few cents. (I've sent and received BTC in early 2010s) On ramp and off ramp to fiat will kill you - whether thr
by sireat 4y ago
I am extremely skeptical that it will only cost few cents. (I've sent and received BTC in early 2010s)
On ramp and off ramp to fiat will kill you - whether through transaction fees or through slippage.
Let's say I am in US with 10k USD cash and I want a family in Ukraine (let's say somewhere safeish like Lviv) to have that 10k USD in hand.
Crypto is going to be more expensive than Western Union/Transferwise/SEPA/regular bank transfer/courier through friends.
That is the problem with crypto transfers - sure most crypto coins can be transferred cheaply.
However that "cheapness" only works as long as you stay in crypto verse.
- Jommi 4y agoI mean there is no way you can get them USD as cash in hand if that's what you mean. Do you mean USD as in a multi-currency bank account like revolut? Onramp via onjuno, convert to USDC, send to your polygon wallet, convert to jEUR on Jarvis, send jEUR to friends wallet, they offramp jEUR with 0 fees to their IBAN bank account in ukraine via mt.Pelerin. You only pay the polygon token transfer fees here. Times have changed since 2010!