Let's talk remittances. How do we make people choose Bitcoin instead of Western Union and MoneyGram for sending money abroad?

I found this old article from 2015 about how low fees are disrupting the remittance industry.

If it costs so much money (a percentage on the exchange rate + a transfer fee of more than 10 dollars) and time (up to 4 days) to send money from a developed country to a developing country, why would anyone still choose these old banks?

Remittances seem to me to be the most obvious use case for which Bitcoin can be a solution. With $860 Billion in remittances worldwide in 2023 and 1 in seven people in the world sending or receiving remittances there's a huge amount of people that could benefit from it.

What can the Bitcoin community do to make companies like Western Union and MoneyGram be a thing of the past?

submitted by /u/steelpan to r/Bitcoin
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Quelle: bitcoin-en