Money transfer: is cryptocurrency the future preferred method?

December 28, 2018
Darya Karatkevich

If you are fed up with the high costs associated with the traditional ways of sending money overseas, then cryptocurrency may be a suitable solution. According to the research agency Clovr, the number of people using cryptocurrency to send money is growing. According to the newly released study, 15.8 percent of respondents used cryptocurrency to send money home. 41 percent of respondents preferred sending cryptocurrency instead of fiat to ensure the livelihood of their family.

crypto money transfer

The report cited the high costs of services from industry leaders, like MoneyGram and Western Union, has caused people to turn to crypto. Thus, a crypto transfer ranks fourth on theĀ list of preferred methods of transferring funds.

Moreover, the digital currency can allegedly render gains for a sender. For instance, crypto allows users to save money by avoiding conversion rates and transaction fees that are normally associated with traditional forms of transferring money. In addition, a user can earn more while saving by reconverting fiat money after the initial conversion to crypto.

Post written by Darya Karatkevich
Darya is a blockchain market observer with 5+ years of experience as an author and editor for major tech blogging platforms. Her fortes are blockchain technologies and solutions, cryptocurrencies and crypto-related regulations.

Related News

OL DEX is closing all activities April 25, 2020
USDT (ERC-20) Gateway Enabled April 17, 2020