According to the World Bank remittances hit $613 billion in 2017 and this amount is expected to continue to increase. The costs associated with sending money using traditional method have caused migrant workers and expats to turn to cryptocurrencies to send money home.
Depending on the country, money transfer services and traditional wire transfers can cost upwards of 20%. However, blockchain technology and cryptocurrencies allow simple, fast, and inexpensive transfers.
There are several ways to procure the Bitcoin, and using the Bitcoin ATM, is one of the most effective methods. Bitcoin ATMs are placed in stores near you, and the process of buying Bitcoin on the Bitcoin kiosk is fast and can take only a few minutes.
You can buy Bitcoin, via a Bitcoin ATM, receive it, and store it in your personal wallet, and if you ever need to send it to family and friends you can do it easily from your wallet and from the comfort of your home. The blockchain fees associated with sending the Bitcoin are much smaller than traditional means.
Check out our blog post to learn how to use a Bitcoin ATM.