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by ac29
1609 days ago
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With the exception of Libya, Western Union supports transfers to all of those countries. Fees look like $3-7 to transfer $400. Using crypto is unlikely to be much cheaper or faster for me - my salary is paid in USD, so if I want to transfer cryptocurrency I will need to convert it from USD first, which is neither free nor instant. The same problem likely applies to whoever I'd be sending money to in the foreign country - if they need money to buy food or pay rent, its extremely unlikely they will be able to pay in cryptocurrency. |
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It’s not money. You can’t use it as money. You have to convert it to money, at a loss.
If that counts as ‘sending money’, then hell, I can send someone an email saying “I promise to pay $100 to the bearer of this note”, and just hope that they’ll be able to exchange that for money at a reasonable loss.