What are the advantages of using digital currencies for international transactions between Canada and the US?

3 answers

• Jan 14, 2022 · 3 years ago
  One of the advantages of using digital currencies like Bitcoin for international transactions between Canada and the US is the speed of transactions. With traditional banking systems, international transfers can take several days to complete. However, with digital currencies, transactions can be processed within minutes or even seconds, allowing for faster and more efficient cross-border payments.
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• Jan 14, 2022 · 3 years ago
  Another advantage of using digital currencies for international transactions between Canada and the US is the lower transaction fees. Traditional banking systems often charge high fees for international transfers, especially for large amounts. In contrast, digital currencies typically have lower transaction fees, making them a more cost-effective option for cross-border transactions.
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• Jan 14, 2022 · 3 years ago
  At BYDFi, we believe that digital currencies offer a unique advantage for international transactions between Canada and the US. With the decentralized nature of digital currencies, transactions can be conducted directly between parties without the need for intermediaries, such as banks. This not only reduces the complexity and cost of transactions but also enhances privacy and security.
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