Of course it is suitable for remittances as well as we get rid of the companies that charge us high rates and do not let us send large amounts and ask us or monitor our money and we do it instantly lasts in what goes through the chain of blocks and wait for one the comfirmations and ready us yega one way to our portfolio and then we will change it in localbitcoin or person to person it seems great
Topic: Is Bitcoin and blockchain suitable for international remittances? - page 2. (Read 220 times)
January 27, 2018, 08:52:35 AM
January 27, 2018, 08:38:43 AM
With your knowledge of the blockchain and bitcoin, do you think bitcoin and blockchain are suitable for international remittances? Please post your opinion
It is implemented now on the philippines, a lot of money remittance accepts bitcoin, It is really suitable sir. But if the country bans bitcoin then its a problem and it is another issue.
January 27, 2018, 08:37:38 AM
Yes I think it created for that purpose also to allow its users to send money to their love ones and families but this can only be possible and compatible with remittance if the transaction and the sender or receiver could be verified by the local governments.
January 27, 2018, 08:33:48 AM
With your knowledge of the blockchain and bitcoin, do you think bitcoin and blockchain are suitable for international remittances? Please post your opinion
If you meant for bitcoin transaction within the blockchain from one user to another then it is not an issue. You are good to go.
But if you meant to send bitcoin as payment and receive as usd or your local currency then it depends on where you are from.
Such as if you are from one of the Asian countries (where bitcoin is banned) and want to receive payment in your local currency through the bank and the payment was sent by bitcoin then you might get the problem.
Because afaik that some Asian countries have a declaration process about "the source of fund", so in common sense, you can't declare that the fund source is bitcoin.
But if you are receiving in western countries then it might not be a problem as long as you pay the tax. Please correct me if I am wrong.
January 27, 2018, 08:07:58 AM
of course it will provide ease in long-distance transactions that can only be done in blockchain and cryptocurrency because it is very easy to do by users
January 27, 2018, 08:04:59 AM
Yes, it's very convenient. You do not need intermediaries in the form of a bank. The commission is much smaller, the transaction will not be lost in transit. Therefore, if possible, I prefer to use bitcoin for international transfers.
January 27, 2018, 07:31:32 AM
Yes, using bitcoin is much easier to make international transfers. For example, in my city there are no international banks, and if it were not for the bitcoins, I would not have had the opportunity to engage in international activities.
January 27, 2018, 03:52:36 AM
do you think bitcoin and blockchain are suitable for international remittances? Please post your opinion
Yes, that's bitcoin is intended for. For sending money to others directly and no need of third parties so bitcoin is ideal for international remittances but the deal here is you need to pay the right and recommended fee so that your transaction will not take so long before it arrives to the receiver. January 27, 2018, 03:48:33 AM
Bitcoin can significantly reduce agency costs
For Bitcoin remittance providers, customers tend to be skilled early adopters, which we call online and mobile, while online rates average between 1 and 3%
For Bitcoin remittance providers, customers tend to be skilled early adopters, which we call online and mobile, while online rates average between 1 and 3%
January 27, 2018, 03:45:13 AM
Yes, its currently used as a good option for remittance right now. Cutting the waiting period to half, I prefer to send BTC/Alts rather than sending FIAT because its more faster.
January 27, 2018, 03:42:58 AM
Yes it is good for sending money but only if the country has not banned bitcoin.
January 27, 2018, 03:37:42 AM
With your knowledge of the blockchain and bitcoin, do you think bitcoin and blockchain are suitable for international remittances? Please post your opinion
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