Topic: B2B international trade using bitcoin (Read 2081 times)
First of all the exporters - do not operate with BTC - simple as that. The second is bookkeeping laws in your country - they will probably allow only local currency, which can be converted in other currencies, but not in BTC ( central bank exchange currencies only ).
The fees for converting the fiat to bitcoin and the other way round is costly as well and troublesome. The best way is still that both parties of the trading is using bitcoin as settlement.
Say I regularly import some small quantity of style clothing from EU and JP, and I have to exchange the money between EUR and my local currency.
The fees of bank wire is costly and it usually takes several business days.
How good bitcoin would help in this case?
The best scenario I can imagine is that the exporter and I can make the transaction without exposing to bitcoin directly. I just need to transfer the amount of local money I want, and the exporter will receive the money of their local currency in their bank account. There is no bitcoin visible to the users and bitcoin just acts as the medium of money transmission, as I don't want to make the effort to convince the exporters about receiving bitcoin. Maybe I can do it by combining some existing services like a bitcoin exchange and bitpay, but the cost of cumbersome will completely offset the benefits. (And that I have to wire transfer the money to an exchange is unacceptable in the first place)
edit: those merchants have physical stores only.
The fees of bank wire is costly and it usually takes several business days.
How good bitcoin would help in this case?
The best scenario I can imagine is that the exporter and I can make the transaction without exposing to bitcoin directly. I just need to transfer the amount of local money I want, and the exporter will receive the money of their local currency in their bank account. There is no bitcoin visible to the users and bitcoin just acts as the medium of money transmission, as I don't want to make the effort to convince the exporters about receiving bitcoin. Maybe I can do it by combining some existing services like a bitcoin exchange and bitpay, but the cost of cumbersome will completely offset the benefits. (And that I have to wire transfer the money to an exchange is unacceptable in the first place)
edit: those merchants have physical stores only.
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