Can you use crypto to send remittances?

[Passionate-writer]

I have never used cryptocurrency to send payments to my family members. I know that the procedure of international money transfers is burdensome because it is time-consuming and the fees are quite high. When reliance involves traditional banks, the situation becomes even worse as the charges are very high, and the payment is accomplished months later. This affects the families negatively as they cannot easily access the help they desperately need.

One of the cutting-edge technologies that can come to rescue is cryptocurrency. Using virtual currencies such as Bitcoin or stablecoins, the transaction can be settled within a few seconds instead of waiting for the whole day. In most cases, the charges are not high, and the payment is executed directly without the necessity of involving a bank or agent.

One of the easier methods of getting money is to have an electronic device and access to the internet. The transaction is quick, there are no complications, and workers can come to the assistance of their relatives overseas without having to incur extra charges or queue for long hours.

 

[Suba]

I never send money abroad to relatives in the form of crypto/stablecoins, except for transactions with friends. My siblings all live in the country/locally so it will be easier and transferring fiat money with the same bank is free.

 

[Augusta]

I think it can be easy it is just for the other person to have a wallet then you can send money over and that's it

 

[riberet19]

A lot of people in LATAM prefer remittances with stablecoins and even with Bitcoin Lightning network or Bitcoin Cash, but in the rest of the world I think is not popular enough.