DiSa Posted May 13, 2019 Share Posted May 13, 2019 Hi everyone! I was examining the money transaction to/from Thailand. It's a remarkable market. But I notice, fiat money transfers are very costly (based on World Bank data, tell me if I'm wrong). I guess there is Dee Money for transfers doing from Thailand. But what are the solutions for transfer doing to Thailand? I don't think people are happy with high costs. Does people use cryptocurrencies for transfer money? If they do not, what do they use for ? Investment, spending etc... Link to comment Share on other sites More sharing options...
JeffersLos Posted May 14, 2019 Share Posted May 14, 2019 On 5/13/2019 at 4:46 PM, DiSa said: But I notice, fiat money transfers are very costly (based on World Bank data, tell me if I'm wrong). How much does a wallet to wallet transfer cost for 1 Bitcoin? Link to comment Share on other sites More sharing options...
DiSa Posted May 14, 2019 Author Share Posted May 14, 2019 17 minutes ago, JeffersLos said: How much does a wallet to wallet transfer cost for 1 Bitcoin? In general, it's under 1 USD. Link to comment Share on other sites More sharing options...
rwdrwdrwd Posted May 15, 2019 Share Posted May 15, 2019 Have to also consider the bid / ask spread and withdrawal fees when converting to FIAT, and also the volatility - BTC/FIAT pairs regularly shift multiple % over a 15 minute period (image attached randomly selected from today, there are far more dramatic instances than this), and given the average confirmation time is greater than 15 minutes, it's a huge risk https://www.blockchain.com/en/charts/avg-confirmation-time LTC would be a better option, much faster confirmation but the volatility is still there. In answer to your question, for me - speculation. Link to comment Share on other sites More sharing options...
phycokiller Posted May 15, 2019 Share Posted May 15, 2019 compare what you would get. I know people that use btc to send money from their home countries because they get a better rate. Link to comment Share on other sites More sharing options...
HB Wallet Posted May 20, 2019 Share Posted May 20, 2019 Bitcoin is just an application of the blockchain. In this ecosystem you can transfer your money directly to others without any banks or third-parties in between. You can read here for more understanding: https://www.hb-wallet.com/blog/2018/09/13/what-everybody-ought-to-know-about-blockchain-technology?fbclid=IwAR19YOLaZPTD386bKTwOfuenJAyKfuOV1lpSfLf8LsWRVLlxaOou2lipA9A The link is safe no worries. Link to comment Share on other sites More sharing options...
DingDongLing Posted May 20, 2019 Share Posted May 20, 2019 yes I easily do it Link to comment Share on other sites More sharing options...
pepi2005 Posted May 21, 2019 Share Posted May 21, 2019 One of the main advantages of using Bitcoin is that (when stored correctly, like with multi-sig) it's unconfiscatable and super safe. Also, your complete financial history isn't publicly online (as it is with XRP for example). Still, if I were aiming at transferring money super fast, don't care about privacy and the other party will change back to Fiat, XRP or Stellar (XLM) would be my preferred choices at the moment, also because most exchanges don't charge fees for withdrawals. Both are factually centralized though and as said, all transfers are completely transparent, it's as if you would put your saving's account book history online... For storage of value, there is no better choice than Bitcoin due to its low inflation and right now, the premise of rates going up rather than down. Also, Bitcoin enthusiasts have the goal to accumulate Bitcoin anyway. Link to comment Share on other sites More sharing options...
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