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I sent EUR from one bank account in country X to another bank account in country Y the other day. It arrived in five seconds and it cost me less than 1 EUR to t
by martin8412 4y ago
I sent EUR from one bank account in country X to another bank account in country Y the other day. It arrived in five seconds and it cost me less than 1 EUR to transfer 2k EUR.
- ZephyrBlu 4y agoI'm assuming this was in the EU and you weren't exchanging currencies?
- martin8412 4y agoCorrect.
- bogota 4y agoI have also done that. Congrats. Some places it’s easier to move money with bitcoin as even though i can send money directly they have tons of limitations in place around amount that you can send that is very low. Just because you haven’t found crypto helpful doesn’t mean it doesn’t have use cases.
- martin8412 4y agoWell yea, the main use case is crime. You've just admitted to committing a crime.
- dlubarov 4y agoSurely we can think of other reasons they might want to avoid TradFi? Maybe the payment is related to, say, Cannabis, so companies like Wise would refuse to facilitate it [1], legal or not. Or perhaps they've heard the stories of PayPal seizing funds with no explanation or recourse (e.g. [2]), and don't want to roll the dice on that. Maybe they want to exchange currency at the actual market rate, rather than PayPal's 3-4% spread. Or they might not want to wait forever for a two-sided ACH transfer (usually the cheapest option with e.g. Wise), or pay wire fees and still have to wait until Monday morning before a US bank will consider processing the transfer. [1] https://wise.com/acceptable-use-policy https://wise.com/acceptable-use-policy [2] https://arstechnica.com/tech-policy/2022/01/paypal-stole-users-money-after-freezing-seizing-funds-lawsuit-alleges/ https://arstechnica.com/tech-policy/2022/01/paypal-stole-use...