They say Bitcoin is popular in the Philippines, but I remember we discussed before that services like WU have lowered their prices quite a bit, although the way money is sent plays a role in how much the fee will be. For those who want to play with the WU calculator.
The advantage of the transfer in the way that Strike offers is of course a negligible fee and an instant transaction considering that it is LN, but we have seen in the example of El Salvador that even when you give people such an opportunity, they still use the old methods. Maybe it will be different in the case of the Philippines, because as I already wrote, it seems to me that the Filipinos are much more aware in this regard than the average resident of El Salvador.
Topic: [2023-02-01] Strike Launches Instant, Cheap Remittances For The Philippines .... (Read 10 times)
February 01, 2023, 06:28:33 AM
February 01, 2023, 01:45:13 AM
Source : https://bitcoinmagazine.com/business/strike-launches-remittances-to-philippines
The actual heading is ...."Strike Launches Instant, Cheap Remittances For The Philippines Using Bitcoin Lightning." - U.S. users of Strike can now use Send Globally to send instant, cheap remittances to loved ones in the Philippines.
"The Philippines relies on more than $35 billion annually in money sent from abroad, with over $12 billion coming from the U.S. alone."
This is very good for people using expensive traditional remittance services between the Philippines and the United States. We know other services like Western Union and MoneyGram are very expensive and they take a large portion of the money. So... it is great to see that Bitcoin are once again being used to disrupt exploitative services like that.
The actual heading is ...."Strike Launches Instant, Cheap Remittances For The Philippines Using Bitcoin Lightning." - U.S. users of Strike can now use Send Globally to send instant, cheap remittances to loved ones in the Philippines.
"The Philippines relies on more than $35 billion annually in money sent from abroad, with over $12 billion coming from the U.S. alone."
This is very good for people using expensive traditional remittance services between the Philippines and the United States. We know other services like Western Union and MoneyGram are very expensive and they take a large portion of the money. So... it is great to see that Bitcoin are once again being used to disrupt exploitative services like that.
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