Due to the high cost of sending remittances, bitcoins and other similar currencies have gained popularity. Using crypto like Bitcoin for remittances are not only more cost-effective but also faster and more efficient. When using conventional methods of sending money across borders, people often have to pay large amounts in fees and wait days before their loved ones receive the money they sometimes desperately need.
When sending a remittance suing bitcoins or other crypto currencies, not only do the receivers get their money immediately but it is also cheaper for the sender.
A recent report by Blockchain research firm
If some of the largest companies in the world, like Microsoft and Starbucks, are comfortable accepting cryptocurrencies as a form of payment, this should instil confidence in using these new forms of payment for sending remittancesClovr
While there will always be detractors for every topic under the sun, it is worth a look at how Bitcoin for remittances can be more profitable. Read more here: Sending Money Back Home