Bitcoin Remittance Payments to Pay Fees in Venezuela

bitcoin remittance payments

Bitcoin remittance payments are the most recent target of Venezuela’s cash strapped government. In order to benefit from the growing cryptocurrency economy, the government also recently launched its own cryptocurrency named Patria.

By making bitcoin remittance senders pay a transaction fee on payments that they send home to family in the country, the government aims to help fuel its own economy. The cryptocurrency has become a popular method of sending money from all over the world and more people are beginning to use it for its lower fees.

Read more: VENEZUELA: MADURO ADMINISTRATION TARGETS BITCOIN REMITTANCE