Growing Use of Bitcoin for Remittance
After a dream run on December 2017, Bitcoin prices kept falling gradually all through the year and now finally its showing an upward trend. Crypto enthusiasts invested huge amount but within few months Bitcoin lost around 80% of its total value. None ever thought this to happen but that is the sad reality. Bitcoin investment is always risky because of its high price fluctuations. One should be aware of these sudden price rises and falls.
Despite bear crypto market, Bitcoin adoption and acceptance have only increased. According to a recent report many people Buying Digital Currency In Australia and using for remittance. Off late people using Bitcoin and other popular cryptocurrencies to send remittances is seeing massive rise. This is certainly great news for the crypto community. Experts believe this growth is mainly because of high expenses with all traditional methods or platforms.
Faster, Cheaper and Easier
Cryptocurrency use and trade is increasing every year. Now the value of remittances sent to different countries from the United States is great than ever. According to a recent data around $150 billion from the United States sent to other countries in 2017. This year the number is bound to increase. In today’s age of technology countries around the world are well interconnected. People working outside own countries are finding new ways to send money back home. Traditional banks and financial institutes rip off common people while sending money, forcing migrants to look for better option which is easier, faster and cheaper.
Smart new option
Cryptocurrencies are now proving to be a good option. The new method to Buy Bitcoin In Sydney through online exchanges and send as remittance is becoming popular like never before. According to the report almost 15% people use digital currencies to send money back home. Today cryptocurrencies is one popular method after online services, traditional wire transfer, and money transfer services. Most traditional methods are expensive and time-consuming, forcing people to use cryptocurrency. Moneygram and Western Union are two of the most common methods of money transfer. But in last two years, Bitcoin has also entered into the scene. Every time people send money within the continent huge taxes and fees are deducted. This make it difficult for many to send money back home. Almost 20 to 35% money goes towards fees. So, how can a common people afford such high fees?
Getting wide acceptance
Cryptocurrency is a boon which minimizes transfer cost. As some of the popular names and business groups around the world have started accepting cryptocurrencies, every common individual should confidently Buying Digital Currency In Australia and use it to send money to any part of the globe. Did you know Starbucks and Microsoft have started accepting digital currencies as a form of payment? Isn’t this enough to instill confidence? Start using suitable cryptocurrencies as a form of sending payment to anywhere anytime in few simple taps.
One can switch to cryptocurrencies and start sending money to any place at fraction of the cost. When traditional systems like financial institutes and post offices charge hefty transfer fees, Bitcoin can actually help you earn more. Cryptocurrencies help you avoid high conversion rates and transaction fees, especially for fund transferring abroad. What’s more one can take a few extra steps in making significant savings with cryptocurrencies, including currency conversion.