What are the advantages of using digital currencies for sending money internationally compared to traditional remittance methods?

3 answers

• Apr 14, 2022 · 3 years ago
  One of the advantages of using digital currencies like Bitcoin for international money transfers is the speed of transactions. With traditional remittance methods, it can take several days for the money to reach its destination. However, with Bitcoin, transactions can be completed within minutes or even seconds, making it a much faster option for sending money internationally.
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• Apr 14, 2022 · 3 years ago
  Another advantage of using digital currencies for international money transfers is the lower fees. Traditional remittance methods often involve high fees, especially when sending money across borders. On the other hand, digital currencies like Bitcoin have significantly lower transaction fees, making it a more cost-effective option for sending money internationally.
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• Apr 14, 2022 · 3 years ago
  BYDFi, a leading digital currency exchange, also highlights the advantage of decentralization when using digital currencies for international money transfers. Unlike traditional remittance methods that rely on centralized intermediaries, digital currencies operate on decentralized networks, which can provide greater security and transparency for international transactions.
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