top | item 32540292

(no title)

cl1nk | 3 years ago

It is by far the cheapest and fastest option to send money internationally, fees from using SWIFT are ridiculous and the banks always use terrible exchange rates, I used to lose about ~4% of the money I sent to my family in another country

discuss

order

noelsusman|3 years ago

International money transfers cost money because complying with international financial regulations costs money. Crypto transfers are cheaper and faster because they evade these regulations, which is just a downstream effect of committing crimes being the only real use case for crypto.

To be clear, I don't think it's bad for you to use crypto for this purpose. I would do the same. I just think systems that allow anyone to evade laws are a net negative for society.