Cryptocurrencies and Remittances: Sending Money Aboard Globally Has Never Been Easier

Cryptocurrencies and Remittances: Sending Money Aboard Globally Has Never Been Easier

One of the most attractive aspects of cryptocurrency is that it allows users to send funds quickly and at a low fee. There are also many different cryptocurrency options that users can opt for, including Bitcoin Core, Bitcoin Cash, Ripple, and XRP.

Upon choosing the ideal cryptocurrency, users next decide upon the wallet that works best for them. Wallets are similar to software programs, but they differ in the sense that they allow users to store private and public keys, they allow for sending and receiving money, and so much more. With all of the wallet options, users are bound to find the right option that works well for them. Those who do not want to deal with a digital wallet can go for the traditional method, a regular wallet with their keys written on paper and placed therein. There are also four different methods for sending cash using cryptocurrency.

4 Methods For Sending Cash Using Cryptocurrency

Localbitcoins.com

The ideal wallet for beginners may just be Localbitcoins.com. This system allows users to send funds using cryptocurrency to accounts abroad. Keep in mind that the prerequisite for sending funds is that the recipient have an account that the sender can send to. Further, a prime benefit of this type of platform is that it is recognized for its high security and it has an escrow mechanism for holding funds. This means that the funds will not be released until the parties agree.

Airtm

A second popular option is Airtm. This is a platform that functions as a digital wallet that makes it easy to send funds such as BTC, BCH, ETH, XRP, and even Monero. Those who are interested in using this platform will find that it is a particularly easy system to use. Opening an account takes a matter of minutes and upon doing so, users will be able to access their dashboard. The dashboard presents one’s total balance in USD and the rest of one’s cryptocurrency balances as well.

Bitcoin ATMs

The third option is Bitcoin ATMs and yes, there is such a thing. The ATM, known as BATM, is becoming an ever-popular. There are around 4,000 such ATMs worldwide. They allow users to withdraw fiat cash or to receive bitcoin. They also allow users to send funds abroad and unlike other platforms, the recipient does not need to be aware that they will receive the funds, nor do they need to agree to the receipt. Keep in mind though that although the platform is extremely convenient, it is costly to use. The platform comes with higher commission rates than other options.

Bloom Solutions

Finally, there is Bloom Solutions. This is a new option for sending funds abroad. The platform’s main goal is to reinvent the remittances industry with BTC. The platform focuses on cryptocurrency as a method for transferring funds across borders. All users need to do is to register and upon the approach of one’s credentials, users will receive a rate for the services. Then, users simply deposit the funds into their account and Bloom will take care of sending the funds. The service confirms the transfer by SMS or email.

It is best to look into each option individually to determine which one is ideal for one’s needs.

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