I can tell you have never experienced this problem before but it might surprise you to know that many counties not under international sanctions have big issues to send money to other countries
Of course they find a way, they have to. Doesn't mean it is easy.
The vast majority of people don't even know about bitcoin or blockchian. But the use case is there and it is vastly superior to what western union and moneygram offer in such countries. I'm not telling you as a bitcoin enthusiast, I'm telling you as someone who uses crypto to send money abroad to my gf. I have friends who do the same because it is faster and cheaper than anything else.
> The vast majority of people don't even know about bitcoin or blockchian
And that's the main reason why WU or MoneyGram are vasty more convenient for most people.
> I'm telling you as someone who uses crypto to send money abroad to my gf.
Because you:
- are a technical perso
- who knows about bitcoin
- can navigate the intricacies of setting up a wallet and buying bitcoin, and then
a)
- can find a person/org in the destination country who offers services to convert bitcoin to a real currency.
- can verify that this person/org can be trusted
or
b) explain the intricacies of setting up a wallet, accepting bitcoins and converting bitcoins to currency to people you send money to
> because it is faster and cheaper than anything else.
How do you account for bitcoin's volatility? Its price can rise or drop by any numbeof percents even in a single day. If you send 1k USD worth of bitcoins, the receiver can easily get just 800. That is not really cheap.
