Okay, but that 11% figure is mostly because of your traditional bank, which charges for deposits (wtf?) Lets say I want to $100 to a friend in Mexico: * My ba

Okay, but that 11% figure is mostly because of your traditional bank, which charges for deposits (wtf?) Lets say I want to $100 to a friend in Mexico: * My bank doesn't charge me for deposits. (still $100 USD) * Coinbase charges 1% to convert my USD to BTC (converted 8.947 BTC at 11.05usd per btc) * Sending that to someone else costs almost nothing (8.947 BTC). * The person receiving is not charged anything, unless they want to convert to another currency (e.g. pesos) In this scenario, there is certainly slippage / costs, but it still beats MoneyGram, WesternUnion, Xoom, etc in terms of cost to send money from country to country.