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In the USA? Not much. Bitcoin is a decent choice for sending your money across borders though! It could also be a gift if you think holding it long-term would b
by tnel77 4y ago
In the USA? Not much. Bitcoin is a decent choice for sending your money across borders though! It could also be a gift if you think holding it long-term would be valuable. I remember my grandma buying me bank bonds as a kid for the same reason.
- eli 4y agoI usually send money across borders using Wise.com or wire transfers. What am I missing out on with bitcoin?
- okokwhatever 4y agoFees
- tnel77 4y agoWhat are the associated costs with those services?
- xigoi 4y agoProbably lower than with Bitcoin.
- tnel77 4y agoReally? I wasn’t aware you could send $1k for Pennie’s like you can with Bitcoin. Very cool!
- eli 4y agoYou mean the equivalent of $1k based on the spot price of bitcoin? But I don't have bitcoin and my recipient doesn't want bitcoin. If I send $1000 USD to my friend in Australia using bitcoin how much AUD do they receive? And what does that process look like?
- eli 4y agoA fraction of a percent.
- tnel77 4y agoNot too bad. Bitcoin would probably only be worth it if you were moving larger amounts.
- zirgs 4y agoI have sent money across borders countless times and it arrived just fine. No need to give my money to shady exchanges like FTX.
- tnel77 4y agoYou don’t have to use an exchange to send a cryptocurrency. I personally use them to buy crypto, but then I send my assets to a hardware wallet asap. From there, you can send it anywhere you’d like.