Tired of spending endless time and money trying to transfer money? Cryptocurrency trading might be the solution. Avoid high bank fees, long wait times and pointless middlemen.
As anyone who has tried to get or send money overseas will know, international money transfers are a huge pain. Most people rely on banks or money transfer services since those are considered the safest way to do so,
but just because something is safe doesn’t mean it isn’t a headache-inducing process. High fees, long transfer times, and if using a wire transfer- having to provide lots of necessary information like routing numbers, account numbers and bank addresses. All contributing factors that point to this process as increasingly unsuited for the fast-paced and globalized world we live in today.
Enter cryptocurrency trading. You buy the currency of your choice using a credit or debit card from a cryptocurrency wallet, get the address of the wallet you want to send the currency to, and send it off! The recipient will receive the money within seconds, and can then exchange the cryptocurrency to the currency of their choosing.
Using cryptocurrency to transfer money internationally is easier because it is:
- Very secure
- Near-instantaneous transfers
- Send and receive money anywhere in the world
- As much as you want to send
- Ditch those high fees
It might be hard to send 5,000 USD to another country through a money transfer service or bank wire, but once it’s been converted it to cryptocurrency, you can send that money to anyone, anywhere, in seconds on the blockchain.
The biggest advantages with cryptocurrency transfers are the lack of huge transfer fees and waiting times. Traditional money transfer services make money by charging for deposits, withdrawals, and transfers. Banks lord the security of their systems, but they also make a lot of money on the exchange rates when you convert the money.
With cryptocurrency you are the one in control, and liable, for the currency exchange rates. If you do not want to lose money, this is a process you must be conscious about. Sometimes you will want to convert your money twice when you send it to someone in another country.
It is still a volatile market, but you can make it work to your advantage. BXB exchange knows this, and that’s why we have the fastest seconds-based leverage trading on the market. In a process where speed is a key element, having a fast, easy to use trading platform is your biggest ally.
Transferring money from one country to another can be slow, expensive, and tedious. It could take days and several middle-men, intermediaries, and compensation for each one of them, making cryptocurrency transfer an attractive alternative to cut back expenses, time, and limitations that come with old school money transfer methods.