What are the advantages of using cryptocurrencies for international money transfers compared to USD or RUB?

3 answers

• Jan 12, 2022 · 3 years ago
  One of the main advantages of using cryptocurrencies for international money transfers is the speed. Cryptocurrency transactions can be completed within minutes, while traditional bank transfers can take several days to process. This makes cryptocurrencies a great option for urgent or time-sensitive transfers.
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• Jan 12, 2022 · 3 years ago
  Another advantage is the lower fees associated with cryptocurrency transfers. Traditional banks often charge high fees for international transfers, especially when converting between different currencies. Cryptocurrencies, on the other hand, typically have lower transaction fees, making them a more cost-effective option for sending money internationally.
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• Jan 12, 2022 · 3 years ago
  At BYDFi, we believe that using cryptocurrencies for international money transfers offers even more advantages. With cryptocurrencies, you have full control over your funds and can make transfers without relying on intermediaries like banks. This means that transactions can be more secure and private, as they are recorded on a decentralized blockchain network. Additionally, cryptocurrencies can provide financial inclusion to individuals who may not have access to traditional banking services.
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