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by randomhodler84
1656 days ago
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This isn’t true at all. Right now, the actual network costs would be $0.07*2 on chain, and 0.15% for the actual sale at the receiving end on an exchange, and the “true” BTC/foreign currency rate. This beats the bad rates being offered on the forex leg of the wise transfer. I would rather remit funds by BTC any day, but not everyone at the other end has the competency to handle this yet. One day. Also, it took days to clear. Most of that time was waiting on the local side for cash to clear. BTC settles every 10 minutes, with a 60 min window for 6 confirmations for security. The markets are 24/7. For countries where withdrawals from exchanges hit the bank account quickly, it can be in the order of days faster… |
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