Advantages of using Bitcoin platforms to send and receive money

Advantages of using Bitcoin platforms to send and receive money

According to studies carried out, they indicate that the use of remittances and transactions worldwide have had a high growth, and they are becoming easier with the appearance of cryptocurrencies.. In this sense, Renata Rodrígues, Global Marketing Manager of Paxful, mentions some advantages of operating with Bitcoin platforms between people.

Latin American countries such as Venezuela, Argentina, Colombia, Brazil, Chile, Peru and Mexico lead the economies that generate the highest adoption of cryptocurrencies for sending remittances in Latin America.

In the specific case of Argentina, the transfer operations carried out to receive or send money to and from abroad or to other markets present two major obstacles: the first is related to exchange restrictions, and secondly, the high commissions of the banks and the long crediting times.

In this scenario, bitcoin (BTC) exchange platforms between people are presented to Argentine residents as an alternative to facilitate these money operations, making them cheaper, without borders and almost immediately, thus avoiding high costs. transaction fees offered by traditional markets.

From Paxful, Renata Rodrígues, Global Marketing Manager of the company, alluded to the economic problems that affect various financial markets globally.

“In 2021, the global average cost of sending $200 abroad will reach 6.4%. With COVID-19 and high inflation affecting many financial markets, a growing level of users are turning to the platforms when sending remittances to other countries”highlighted Renata Rodrigues.

What’s more, highlighted some advantages of sending and receiving money through person-to-person exchange platforms:Speed ​​and cost, free internal wallet transactions, earn money and flexibility.

Read:  Robinhood to Launch Web3 Wallet, LimeWire Signs Universal Deal, and More

He explained that the funds can take days to reach their final destination with traditional providers, so these Bitcoin exchange platforms between people (P2P) are flexible and “there are about 400 payment options available” allowing users to worldwide access to any local payment method, and since there are no intermediaries, the commissions are much lower.

Cryptocurrencies are a technology that is more efficient than the money of the states, with lower commissions, faster and that has made it possible to eliminate intermediaries.

It may interest you:

Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.