How can families use cryptocurrency to save money on international transactions?

3 answers

• Nikita VladimirovJul 15, 2023 · 2 years ago
  One way that families can use cryptocurrency to save money on international transactions is by avoiding high fees associated with traditional banking systems. Cryptocurrency transactions often have lower fees compared to traditional methods, making it a cost-effective option for transferring money across borders. Additionally, using cryptocurrency can eliminate the need for currency conversion fees, as cryptocurrencies are not tied to any specific country's currency. This can result in significant savings for families who frequently make international transactions.
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• Santosh Kumar DivateSep 20, 2022 · 3 years ago
  Another benefit of using cryptocurrency for international transactions is the speed of transactions. Traditional banking systems can take several days to process international transfers, especially if they involve multiple intermediary banks. On the other hand, cryptocurrency transactions can be completed within minutes, providing families with faster access to their funds. This can be particularly advantageous in urgent situations or when immediate access to funds is required.
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• john doeAug 13, 2020 · 5 years ago
  At BYDFi, we believe that families can use cryptocurrency to save money on international transactions by taking advantage of decentralized finance (DeFi) platforms. These platforms offer various financial services, including lending and borrowing, with lower fees compared to traditional banks. By utilizing DeFi platforms, families can access competitive interest rates and reduce the costs associated with borrowing or lending money internationally. Additionally, DeFi platforms often provide transparent and secure transactions, ensuring the safety of funds during international transfers.
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