Using Crypto at a Non Profit? - page 2.

pawanjain

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Quote from: globalsea on March 26, 2019, 06:05:09 PM

Hey there. I work at a non profit and we help people throughout the world who are discriminated against, oppressed, and even killed for their ideals and beliefs. We have bases throughout the world and we transfer money to each of these bases. However, with governments/private banks being corrupt in these countries, sometimes these transfers are ceased.

We would like to utilize crypto currency to solve our problem. Do you have any ideas on the below question?

1.) What would be the best currency to use for international transfers from the US to places like India, North Korea, the Middle East.

2.) How could the recipients turn their crypto into cash without going through a bank? For example, if we sent 10,000 worth of Rupee to India via crypto, how would the end user convert this into Rupee in their country?

Thanks for any and all help!

The first thing that should be kept in mind is that the recipient country should have crypto legalized or at least regulated because I am from India and crypto is still neither legalized nor regulated in India.
Second thing is that the end user whoever is receiving the crypto should have a crypto wallet and have the basic knowledge on how to use it and make transactions.
In countries like India, it is still tough to encash crypto and I myself use a P2P trading platform called WazirX for getting the amount into my bank account.
So, inorder to encash the crypto the end user must either have good contacts so that he can trade the crypto to them for cash or he must have a P2P trading account like mine.

Noa_Amable

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Quote from: globalsea on March 26, 2019, 06:05:09 PM

Hey there. I work at a non profit and we help people throughout the world who are discriminated against, oppressed, and even killed for their ideals and beliefs. We have bases throughout the world and we transfer money to each of these bases. However, with governments/private banks being corrupt in these countries, sometimes these transfers are ceased.

We would like to utilize crypto currency to solve our problem. Do you have any ideas on the below question?

1.) What would be the best currency to use for international transfers from the US to places like India, North Korea, the Middle East.

2.) How could the recipients turn their crypto into cash without going through a bank? For example, if we sent 10,000 worth of Rupee to India via crypto, how would the end user convert this into Rupee in their country?

Thanks for any and all help!

1. any major coin to avoid price fluctuations
2. any exchanger or exchange which accepts fiat withdrawals. b2bx will have great limits for withdrawals via fiat

pundit

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Quote from: globalsea on March 26, 2019, 06:05:09 PM

Hey there. I work at a non profit and we help people throughout the world who are discriminated against, oppressed, and even killed for their ideals and beliefs. We have bases throughout the world and we transfer money to each of these bases. However, with governments/private banks being corrupt in these countries, sometimes these transfers are ceased.

We would like to utilize crypto currency to solve our problem. Do you have any ideas on the below question?

1.) What would be the best currency to use for international transfers from the US to places like India, North Korea, the Middle East.

2.) How could the recipients turn their crypto into cash without going through a bank? For example, if we sent 10,000 worth of Rupee to India via crypto, how would the end user convert this into Rupee in their country?

Thanks for any and all help!

Hi I am from India and I have converted my crypto rewards in INR many times. I even filed by Income Tax return showing my income from Bitcoin so its not illegal at all. Yes Indian govt has not accepted Bitcoin as currency and do not encourage people to invest into it, so that exchange converting INR to Bitcoin have been stopped. There is no strict restriction here to buy or sell crypto on decentralize platform.
Funds can be sent to India as Bitcoin or Ethereum and same can be easily converted at localbitcoins or localethereum easily, as of now there is no hard restriction over it.

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Quote from: globalsea on March 26, 2019, 06:05:09 PM

1.) What would be the best currency to use for international transfers from the US to places like India, North Korea, the Middle East.

At least everyone considers safety and transfer fees.
XLM has low fees and good transfer rates. and blockchain is available to help xlm users everywhere.

Quote from: globalsea on March 26, 2019, 06:05:09 PM

2.) How could the recipients turn their crypto into cash without going through a bank? For example, if we sent 10,000 worth of Rupee to India via crypto, how would the end user convert this into Rupee in their country?

Thanks for any and all help!

We must know the purpose of the transfer, whether the destination country provides good access to crypto exchange. I do not know that India still legalizes this transaction or not.

this should be a consideration.

traderethereum

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The answer will be bitcoin. You can find a seller who will help you to convert from bitcoin into fiat, and you can find it via localbitcoin. That will be the best places you can use to exchange bitcoin to fiat.
Remember the seller so you don't have to contact it via localbitcoin and you could also ask his mobile phones, so it will make you easy to contact him.
My suggestion is don't use exchanges because it will need days to receive the money. Usually, the exchanges follow with the rule from the local banks.

alisafidel58

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Quote from: globalsea on March 26, 2019, 06:05:09 PM

1.) What would be the best currency to use for international transfers from the US to places like India, North Korea, the Middle East.

Bitcoin would be the best currency to use.

Quote from: globalsea on March 26, 2019, 06:05:09 PM

2.) How could the recipients turn their crypto into cash without going through a bank? For example, if we sent 10,000 worth of Rupee to India via crypto, how would the end user convert this into Rupee in their country?

They just have to look for a local exchange in their country or they could just look for a person that is willing to trade their coins for their currency. About North Korea, I doubt that they can find a local exchange there.

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Quote from: globalsea on March 26, 2019, 06:05:09 PM

1.) What would be the best currency to use for international transfers from the US to places like India, North Korea, the Middle East.

Bitcoin would always be preferable.

Quote from: globalsea on March 26, 2019, 06:05:09 PM

2.) How could the recipients turn their crypto into cash without going through a bank? For example, if we sent 10,000 worth of Rupee to India via crypto, how would the end user convert this into Rupee in their country?

You cant use up those local exchange yet it do have some regulation.So, your last resort is peer to peer transactions towards other parties.

Herbert2020

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Quote from: globalsea on March 26, 2019, 06:05:09 PM

1.) What would be the best currency to use for international transfers from the US to places like India, North Korea, the Middle East.

2.) How could the recipients turn their crypto into cash without going through a bank? For example, if we sent 10,000 worth of Rupee to India via crypto, how would the end user convert this into Rupee in their country?

these two questions are not separate from each other. they depend on one another instead.
you are looking for a cryptocurrency that you can easily send overseas while the receiver wants to easily receive them and the be able to find a place where they can sell them (convert to fiat). and do all that in the safes way possible.
the only answer is bitcoin. it has the most secure network, and more important most secure wallets (from full nodes which are the hardest to use, down to SPV/light wallets that are easiest to use. and they work on multiple platforms and devices). additionally the adoption that bitcoin has compared to anything else makes it a much easier (but still hard) thing to covert to and from cash.
the problem however is that although bitcoin is by far the most popular cryptocurrency it still has not reached mass adoption so people will always have a hard time when it comes to exchanging it with fiat.

hugeblack

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Quote from: globalsea on March 26, 2019, 06:05:09 PM

1.) What would be the best currency to use for international transfers from the US to places like India, North Korea, the Middle East.

Everyone says Bitcoin, but if you want some privacy and impossibility tracking currencies, Monero may be a good option.

Quote from: globalsea on March 26, 2019, 06:05:09 PM

2.) How could the recipients turn their crypto into cash without going through a bank? For example, if we sent 10,000 worth of Rupee to India via crypto, how would the end user convert this into Rupee in their country?

We are still in a world dominated by banks and paper money, it is difficult to conduct transactions without going through some central roads except in the case of cash. Seems to be an inappropriate option in case of large transactions.
Localbitcoin: It was an option but it would impose some regulations.
You need to trust another party to make these conversions happen.

elda34b

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Quote from: globalsea on March 26, 2019, 06:05:09 PM

2.) How could the recipients turn their crypto into cash without going through a bank? For example, if we sent 10,000 worth of Rupee to India via crypto, how would the end user convert this into Rupee in their country?

IMO the only option is peer 2 peer trading, and by that I mean direct trade / trading on the spot, not using platform like Localbitcoins. In such countries, considering they're really oppressed by the government and there's a lack of innovation, I also believe there won't be any exchange that support direct withdrawal to their own bank account.

Bitinity

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Quote from: globalsea on March 26, 2019, 06:05:09 PM

1.) What would be the best currency to use for international transfers from the US to places like India, North Korea, the Middle East.

Bitcoin will still the best cryptocurrency for that purpose but surely you need to make sure about the regulation at the mentioned countries. Afaik India has very strict rules about crypto, the last time I heard that Zebpay which is the biggest exchange in India stopped their service to cash out fiat money to local bank account. Not really sure about the latest news.

Quote from: globalsea on March 26, 2019, 06:05:09 PM

2.) How could the recipients turn their crypto into cash without going through a bank? For example, if we sent 10,000 worth of Rupee to India via crypto, how would the end user convert this into Rupee in their country?

Peer to peer would be the best option, or maybe bitcoin ATM (if any).

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Quote from: globalsea on March 26, 2019, 06:05:09 PM

1.) What would be the best currency to use for international transfers from the US to places like India, North Korea, the Middle East.

Bitcoin. I'm not very specific and aware of the current status of crypto adoption on India and North Korea but AFAIK, you can use it there. Wait, you have contact on North Korea?

Quote from: globalsea on March 26, 2019, 06:05:09 PM

2.) How could the recipients turn their crypto into cash without going through a bank? For example, if we sent 10,000 worth of Rupee to India via crypto, how would the end user convert this into Rupee in their country?

They can use a local exchanger for that or sell it through Peer to peer trading.

globalsea

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Hey there. I work at a non profit and we help people throughout the world who are discriminated against, oppressed, and even killed for their ideals and beliefs. We have bases throughout the world and we transfer money to each of these bases. However, with governments/private banks being corrupt in these countries, sometimes these transfers are ceased.

We would like to utilize crypto currency to solve our problem. Do you have any ideas on the below question?

1.) What would be the best currency to use for international transfers from the US to places like India, North Korea, the Middle East.

2.) How could the recipients turn their crypto into cash without going through a bank? For example, if we sent 10,000 worth of Rupee to India via crypto, how would the end user convert this into Rupee in their country?

Thanks for any and all help!

Topic: Using Crypto at a Non Profit? - page 2. (Read 347 times)