What are the best ways to send remittances using cryptocurrencies?

3 answers

• Dec 15, 2021 · 3 years ago
  One of the best ways to send remittances using cryptocurrencies is through peer-to-peer (P2P) platforms. These platforms allow individuals to directly send and receive funds using cryptocurrencies, cutting out the need for intermediaries and reducing transaction costs. Some popular P2P platforms include LocalBitcoins and Paxful. Users can find potential buyers or sellers in their desired currency and complete the transaction securely. It is important to research and choose reputable platforms with good user reviews to ensure a safe and reliable experience.
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• Dec 15, 2021 · 3 years ago
  Another option is to use cryptocurrency wallets that offer remittance services. These wallets often have built-in features that allow users to send funds internationally using cryptocurrencies. Examples of such wallets include Abra and Coins.ph. Users can fund their wallets with cryptocurrencies and then send the funds to recipients in other countries. The recipients can then convert the cryptocurrencies into their local currency if needed. It is important to consider the fees and exchange rates offered by these wallets to ensure cost-effective remittance.
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• Dec 15, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, also offers a convenient way to send remittances using cryptocurrencies. Users can deposit their desired cryptocurrency into their BYDFi account and then transfer the funds to recipients in other countries. BYDFi provides a secure and efficient platform for remittance transactions, with competitive fees and fast processing times. It is important to note that the availability of cryptocurrencies and supported countries may vary depending on the exchange. Therefore, it is recommended to check the specific details and requirements before using any exchange for remittance purposes.
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