You are viewing a single comment's thread from:

RE: A Curious Case for Litecoin

I think you need to have tried to move a substantial amount of money overseas via traditional channels before you can understand just how incredible crypto is.
Those who travel overseas to work and send money back home to their family will often pay 8-12% in fees.
Even if converting that fiat into crypto and sending it to family who convert it back to fiat costs 3% each end, it's still going to be their best option.

Sort:  

For small remittances, the percentage paid in fees can even be much higher than that:
https://steemit.com/steem/@preparedwombat/anecdotal-evidence-that-cryptocurrencies-may-have-a-bright-future-wdetpvbv

This ☝️ Too!