Remittances are the money that migrant workers transfer to their families back in their home countries. In 2012, the global average cost of sending $200 was 7.2%, and the average fee of a Western Union transaction was almost 10%. In comparison, the average Bitcoin fee was around 1%. This is why remittances are an ideal use case for cryptocurrencies.
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
If you enjoyed what you read here, create your account today and start earning FREE STEEM!