What are the cheapest ways to send money internationally using cryptocurrencies?

6 answers

• Nov 26, 2021 · 3 years ago
  Sure! One of the cheapest ways to send money internationally using cryptocurrencies is through peer-to-peer (P2P) platforms. These platforms connect individuals who want to exchange currencies directly, eliminating the need for intermediaries and reducing fees. Some popular P2P platforms include LocalBitcoins and Paxful. Just be sure to check the reputation and trustworthiness of the users you're dealing with.
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• Nov 26, 2021 · 3 years ago
  If you're looking for a more traditional approach, some cryptocurrency exchanges offer competitive rates for international money transfers. For example, Binance, one of the largest exchanges, allows users to send cryptocurrencies to other Binance users with minimal fees. However, keep in mind that you'll need to have an account with the exchange and the recipient will also need to be a user of the same exchange.
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• Nov 26, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, offers a convenient and cost-effective solution for international money transfers. With BYDFi, you can send cryptocurrencies to anyone around the world with low fees and fast transaction times. The platform also provides a secure and user-friendly interface, making it easy for both beginners and experienced users to send money internationally using cryptocurrencies.
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• Nov 26, 2021 · 3 years ago
  Another option to consider is using stablecoins, which are cryptocurrencies pegged to a stable asset like the US dollar. Stablecoins offer the advantage of price stability, making them a reliable choice for international money transfers. Popular stablecoins include Tether (USDT) and USD Coin (USDC). By using stablecoins, you can avoid the volatility associated with other cryptocurrencies and ensure that the recipient receives a consistent value.
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• Nov 26, 2021 · 3 years ago
  If you're sending money to a country with limited cryptocurrency adoption, you can also explore the option of using cryptocurrency debit cards. These cards allow you to load cryptocurrencies and spend them as fiat currencies at any merchant that accepts card payments. This can be a convenient way to send money internationally using cryptocurrencies, especially if the recipient prefers to receive funds in their local currency.
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• Nov 26, 2021 · 3 years ago
  When sending money internationally using cryptocurrencies, it's important to consider factors such as transaction fees, exchange rates, and the speed of transactions. By comparing different options and choosing the one that best suits your needs, you can save money and send funds efficiently across borders.
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