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There are currencies that are similarly unstable (I was unable to get actual rates for UAH, but the official/pegged rate dropped 20% suddenly mid-2022), but unl
by tgsovlerkhgsel 4y ago
There are currencies that are similarly unstable (I was unable to get actual rates for UAH, but the official/pegged rate dropped 20% suddenly mid-2022), but unless the salary is denominated in BTC, the only thing that matters is short-term fluctuations between the point where the amount is converted to BTC and the point where the recipient converts it to local currency.
The advantage of BTC here is the decoupling of the sender and recipient exchanges: Instead of having to find one company that handles the whole transfer end to end (i.e. is active in both the sender's country and the recipient's country), it shifts the problem to finding one trustworthy exchange usable by the sender and another trustworthy exchange usable by the recipient.
Unlike banks or classic money transmitters, there is no need for trust/coordination between the two exchanges.