4 ms·
It is by far the cheapest and fastest option to send money internationally, fees from using SWIFT are ridiculous and the banks always use terrible exchange rate
by cl1nk 4y ago
It is by far the cheapest and fastest option to send money internationally, fees from using SWIFT are ridiculous and the banks always use terrible exchange rates, I used to lose about ~4% of the money I sent to my family in another country
- noelsusman 4y agoInternational money transfers cost money because complying with international financial regulations costs money. Crypto transfers are cheaper and faster because they evade these regulations, which is just a downstream effect of committing crimes being the only real use case for crypto. To be clear, I don't think it's bad for you to use crypto for this purpose. I would do the same. I just think systems that allow anyone to evade laws are a net negative for society.