Can Bitcoin be used to sent money to family in Cambodia ?

Dudeperfect

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Quote from: audaciousbeing on February 28, 2017, 10:53:54 AM

Quote from: Dudeperfect on February 28, 2017, 07:36:33 AM

I can relate with this, I live in a country where PayPal has serious restrictions for operations. Anyone having PayPal account can not send or spend his PayPal balance and it is forcefully withdrawn in the default bank account associated with that PayPal account. We need to link our credit card in order to send funds.

Bitcoin is really coming up as a great solution and yes you can use bitcoin anywhere in the world. If the beneficiary (receiver) can convert his bitcoins in local currency then it wouldn't be any big issue to use bitcoin.

Paypal thought they were being careful for restricting their services in some particular countries including mine as well little did they know they are actually pushing us to go look for other means of getting money and thats exactly what bitcoin has come to offer. Even if paypal lift the embargo against my country to start receiving payments, I wont still use because the conversion rate will still be lower compared to what I will get converting my bitcoin of same USD value to fiat.

Absolutely and the hidden secret is that I get some amount more when I bitcoin instead of other options but that's not the main concern. The Central bank of my country has laid some restrictions on the PayPal and they have to adhere to it if they want to survive. It's is practically very difficult for me or any trader to use PayPal as we have frequent transactions.

audaciousbeing

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Quote from: Dudeperfect on February 28, 2017, 07:36:33 AM

I can relate with this, I live in a country where PayPal has serious restrictions for operations. Anyone having PayPal account can not send or spend his PayPal balance and it is forcefully withdrawn in the default bank account associated with that PayPal account. We need to link our credit card in order to send funds.

Bitcoin is really coming up as a great solution and yes you can use bitcoin anywhere in the world. If the beneficiary (receiver) can convert his bitcoins in local currency then it wouldn't be any big issue to use bitcoin.

Paypal thought they were being careful for restricting their services in some particular countries including mine as well little did they know they are actually pushing us to go look for other means of getting money and thats exactly what bitcoin has come to offer. Even if paypal lift the embargo against my country to start receiving payments, I wont still use because the conversion rate will still be lower compared to what I will get converting my bitcoin of same USD value to fiat.

Dudeperfect

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Activity: 1190

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I can relate with this, I live in a country where PayPal has serious restrictions for operations. Anyone having PayPal account can not send or spend his PayPal balance and it is forcefully withdrawn in the default bank account associated with that PayPal account. We need to link our credit card in order to send funds.

Bitcoin is really coming up as a great solution and yes you can use bitcoin anywhere in the world. If the beneficiary (receiver) can convert his bitcoins in local currency then it wouldn't be any big issue to use bitcoin.

Xester

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Quote from: infocambodge on April 16, 2011, 03:58:38 AM

Hello,

I just heard of bitcoin.

Paypal is not fully supported in Cambodia. Cambodian can accept Paypal but not witdraw from it to their bank account.

So is it possible to send them some paypal amount. Then they would convert to cash using bitcoin.

But how would this cash be transfered to their account: through Wiretranfer ? Where, How ?

Thanks.

If you dont have bitcoins then you dont need to use paypal anymore instead you can directly send it to your families bitcoin address in Cambodia. The only problem left is if there are exchangers that act as an escrow that enables them to convert their bitcoins into their local currency. If there is an exchange then you will no longer use paypal in sending money to them and just use bitcoin instead.

ipanks

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i hope that OP is already found the right person to sent money to his family in cambodia because i see that there is many members on here that willing to help him. i hope that he can using bitcoin more and more like what we do in here, i think if he is success with this, i am sure that in the other day, he will sent another money to his family. thank you for all member here, salute for you all and bitcoin especially that makes it easier to us.

Pettuh4

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I would suggest you ask them to find a Bitcoin merchant in Cambodia if they are successful then you can gladly send them bitcoins as Bitcoin can be sent wherever there's Internet else then put up a question on this forum or anywhere possible asking for Cambodian natives who are willing to trade Bitcoin for the local fiat , that way you can send to them and have your family meet them for the fiat but I must say you have to do this with extreme caution as it can be risky.

warwar

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Yes of course you can.You can send bitcoin all through the world as long as they have an bitcoin account.There is no restriction except some countries that banned bitcoin totally.But the problem is encashing it you cant directly encash it in your place you need to find a legit merchant to exchange

Schuyler

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Quote from: infocambodge on April 16, 2011, 03:58:38 AM

Hello,

I just heard of bitcoin.

Paypal is not fully supported in Cambodia. Cambodian can accept Paypal but not witdraw from it to their bank account.

So is it possible to send them some paypal amount. Then they would convert to cash using bitcoin.

But how would this cash be transfered to their account: through Wiretranfer ? Where, How ?

Thanks.

Is bitcoin legal in cambodia? If yes,we have no problem with that. It is easy to send bitcoin anywhere in the world (if there's an available bitcoin) but I have no idea if the family in cambodia know how to transfer it into fiat.

https://m.cambodia-mmm.net/bitcoin/

requester

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If bitcoin is banned in cambodia then obviously you could take the advantage of bitcoin and you have no restriction in using and sending bitcoin may be for good cause or bad its upto you and your mentality how you use it.

Bellator

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Quote from: infocambodge on April 16, 2011, 03:58:38 AM

Hello,

I just heard of bitcoin.

Paypal is not fully supported in Cambodia. Cambodian can accept Paypal but not witdraw from it to their bank account.

So is it possible to send them some paypal amount. Then they would convert to cash using bitcoin.

But how would this cash be transfered to their account: through Wiretranfer ? Where, How ?

Thanks.

They can't use the paypal balance in their country because they can't withdraw it in their bank account. So there's no people there accepting it in current, If there's someone who offer to you, they would offer not in current they offer with some fees. But if you use bitcoin to send your money + there's a exchangers in cambodia + they know how to exchange it in current price it is the best way to send your money.

KennyR

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Why to make such complications, just sell the bitcoin to an exchange service provider and request him to deposit to your family members account. Only thing is find a trader who can do this, because even staying out of country to its possible to find trading service providers of your locality(Cambodia).

jerrythach

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yes, now you can use bitcoin for send money to Cambodia

Via b-exchanger.com after you sold bitcoin can make withdraw to acount wing or bank of the person you wannat send money to

DannyElfman

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Quote from: jabo38 on June 14, 2014, 12:26:46 AM

The US has Coinbase so it is very easy to turn USD into Bitcoin for about 1% in fees. If Cambodia gets a similar service, then you will be able to send money to Cambodia for 2% and maybe even cheaper if the fees lower.

It might not be possible to send money right now, but in the future almost all countries will have big Coinbase like companies. Lots of money to be made there.

I think in three years bitcoin becomes faster and easier and cheaper than banks, PayPal, or Western Union to just about any major country in the world.

There are bitcoin traders all over the world. The OP should check the marketplace section of these forums for potential ways to sell bitcoin for fiat (and/or goods/services) in Cambodia

bitcambodia

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I am in Cambodia and I buy bitcoins. I'm on Localbitcoins under the same name.

jabo38

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The US has Coinbase so it is very easy to turn USD into Bitcoin for about 1% in fees. If Cambodia gets a similar service, then you will be able to send money to Cambodia for 2% and maybe even cheaper if the fees lower.

It might not be possible to send money right now, but in the future almost all countries will have big Coinbase like companies. Lots of money to be made there.

I think in three years bitcoin becomes faster and easier and cheaper than banks, PayPal, or Western Union to just about any major country in the world.

ShakyhandsBTCer

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It's Money 2.0| It’s gold for nerds | It's Bitcoin

You can send bitcoin anywhere in the world.

Just make sure that your family has a way to convert the bitcoin to fiat and/or convert the bitcoin they receive into the good/services that they need.

Compared to services like Western Union bitcoin is much cheaper.

Ron~Popeil

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Quote from: jonald_fyookball on May 27, 2014, 11:39:54 PM

Quote from: jc01480 on May 27, 2014, 10:55:42 PM

Quote from: jonald_fyookball on April 11, 2014, 09:04:23 PM

And so it begins...

I like a good conspiracy every now and then. Don't you?

i mean, adoption is taking off...people want to send to cambodia, etc.
will be happening more and more

Yep. I think international currency transfers are the first step toward massive adoption. Once people see how easy and low cost it is they will bypass the conventional system in favor of efficiency and lower cost.

jonald_fyookball

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Quote from: jc01480 on May 27, 2014, 10:55:42 PM

Quote from: jonald_fyookball on April 11, 2014, 09:04:23 PM

And so it begins...

I like a good conspiracy every now and then. Don't you?

i mean, adoption is taking off...people want to send to cambodia, etc.
will be happening more and more

jc01480

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Nope..

Quote from: jonald_fyookball on April 11, 2014, 09:04:23 PM

And so it begins...

I like a good conspiracy every now and then. Don't you?

Swordsoffreedom

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I believe yes if they have a mobile phone and can download an online wallet
The question is finding an exchange to convert the bitcoins into local currency
Oh edit looks like there are services in Cambodia that's neat I learned something

Topic: Can Bitcoin be used to sent money to family in Cambodia ? (Read 3814 times)