WU says 24.90€ fee for 1000-5000€, which is not really that much, is it? Unfortunately, they have a crappy exchange rate (~3-5% less)
Considering bitcoin's fluctuation sending BTC could be a much greater loss...
Topic: How to convert Bitcoins in Algeria's Dinars ? - page 2. (Read 9768 times)
I am sure someone will show up in the long run (to trade at "normal" exchange €/BTC-rates)...
...but it might help to offer a little bounty (let's say 1/3 of the normal fees, for example) and also I wonder:
How much are those fees to transfer Euro to Algeria (and possibly convert them in Dinars)?
PS: I thought so far the Hawala-system would be the weapon of choice to send money home but I guess it isn't, eh?
PPS: Just checked localbitcoins but nearest spot to algeria was over 1000km away...
...but it might help to offer a little bounty (let's say 1/3 of the normal fees, for example) and also I wonder:
How much are those fees to transfer Euro to Algeria (and possibly convert them in Dinars)?
PS: I thought so far the Hawala-system would be the weapon of choice to send money home but I guess it isn't, eh?
PPS: Just checked localbitcoins but nearest spot to algeria was over 1000km away...
I know.
You need using Western Union or likes. So the costs are not trivial and the time is considerable.
I do not know how much cost to convert Dinars to €, but I think this also will not be trivial.
I am sure someone will show up in the long run (to trade at "normal" exchange €/BTC-rates)...
...but it might help to offer a little bounty (let's say 1/3 of the normal fees, for example) and also I wonder:
How much are those fees to transfer Euro to Algeria (and possibly convert them in Dinars)?
PS: I thought so far the Hawala-system would be the weapon of choice to send money home but I guess it isn't, eh?
PPS: Just checked localbitcoins but nearest spot to algeria was over 1000km away...
...but it might help to offer a little bounty (let's say 1/3 of the normal fees, for example) and also I wonder:
How much are those fees to transfer Euro to Algeria (and possibly convert them in Dinars)?
PS: I thought so far the Hawala-system would be the weapon of choice to send money home but I guess it isn't, eh?
PPS: Just checked localbitcoins but nearest spot to algeria was over 1000km away...
Why not find a member on the forums to send USD and you give them bitcoins. Once you recieve the USD go to a bank in algeria and exchange it. That should work.
The point is to pay someone in Algeria from the EU using bitcoins without sending cash via wire transfer, mail or whatever and save the huge costs.
This is a regularly recurring event, not a single exchange.
The problem is for the receiving end to exchange bitcoin in the local currency to go at a grocery store and pay bills.
For this there must be a request for Bitcoins in Algeria from someone.
These ones must be able to exchange bitcoins for something they want and Bitcoin must be useful to them.
People importing goods in Algeria could find useful to use Bitcoins to buy in EU because they would be able to avoid to exchange dinars in € (and related taxes, documents, permits and so on).
They could pay for the stuff to be imported in directly in BTC or converting them in €.
Why not find a member on the forums to send USD and you give them bitcoins. Once you recieve the USD go to a bank in algeria and exchange it. That should work.
We are trying to find a way to pay people in Algeria with Bitcoins, but the main problem is to convert them in local currency.
What a surprise.
I know, for example, some people interested in paying consulting in Algeria with BTC (something around 4-5.000 € per month) and surely many workers in Europe have interest in sending money to their relatives if they could lower the costs of transaction.
Now, I'm open to suggestions, better if legal ones.
My current train of thinking is about finding what algerians import from Europe.
If importers could pay with bitcoins a part or all of what they import, they would not need to convert dinars to € and they would have a reason to buy bitcoins in exchange of Dinars from the local people.
It should works like this:
Algerians Workers in Europe send bitcoin to his family address
Family in Algeria sell bitcoins to a local exchanger in exchange of dinars
local exchanger send BTC to seller in Europe to buy stuff and bring it back in Algeria
I read, for example, some people coming back for visiting family buy a car (in France for example) drive it to Morocco or Algeria and then sell it locally.
Or people buying domestic appliance in Europe and bringing them back in Tunisia.
If we find a way, we could make happy a lot of people; maybe not the government, but we can live with this.
What a surprise.
I know, for example, some people interested in paying consulting in Algeria with BTC (something around 4-5.000 € per month) and surely many workers in Europe have interest in sending money to their relatives if they could lower the costs of transaction.
Now, I'm open to suggestions, better if legal ones.
My current train of thinking is about finding what algerians import from Europe.
If importers could pay with bitcoins a part or all of what they import, they would not need to convert dinars to € and they would have a reason to buy bitcoins in exchange of Dinars from the local people.
It should works like this:
Algerians Workers in Europe send bitcoin to his family address
Family in Algeria sell bitcoins to a local exchanger in exchange of dinars
local exchanger send BTC to seller in Europe to buy stuff and bring it back in Algeria
I read, for example, some people coming back for visiting family buy a car (in France for example) drive it to Morocco or Algeria and then sell it locally.
Or people buying domestic appliance in Europe and bringing them back in Tunisia.
If we find a way, we could make happy a lot of people; maybe not the government, but we can live with this.
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