Nicolas wrote: ↑Sun Dec 01, 2019 4:19 pm

Kammekor wrote:

Nicolas wrote: ↑Wed Nov 27, 2019 10:16 am

Phnom Poon wrote:only because recipients can cash it out

Yes. Crypto currencies are used as payment or money transfer. You don’t send your USD anymore, you just transfer your USD into bitcoins, transfer the bitcoins and the receiver transfer back into his own currency. All this for a ridiculously low fee.
Cash in and cash out under 20 minutes.



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USD to Bitcoin for a ridiculous low fee? I don't know any exchange charging less than 1%. Typical bank transfer fee is 0.1%. So much for the convenience of 'being your own bank'.

I think my fees are in the 0.14% - 0.26% area, but can go down to 0% for high volumes (not my case).
How much would cost a $200 bank transfer from USA or Europe to Thailand?


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Oh yes, there are examples where a BTC transfer turns out out cheaper than a money transfer, but that only applies to relatively small amounts transferred cross continent including a payment in currency one while receiving currency two.
Most of the transfers in BTC are more expensive because you always have to make a exchange, making the exchanges happy. Not even talking about the volatility of BTC making your purchase 5% cheaper or more expensive overnight.

I'd like to know the name of the exchange charging a total fee of just 0.14% including the spread. I will use them in the future.

Nicolas wrote: ↑Sun Dec 01, 2019 4:30 pm I had to pay $499 for something this morning by bitcoins. The wallet tu wallet transfer cost my something like 30 cents (or less?), it was done, received and confirmed under 10min. And I don’t even know in which country I sent my money because it’s irrelevant with digital currency.


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Not talking about the wallet to wallet transfer. To transfer BTC, you have to own BTC. That's where the costs are, not in the transfer itself.

Nicolas wrote: ↑Sun Dec 01, 2019 4:57 pm Last time my total fees were 0.12%. I guess fees are lower after a cumulated volume of transactions. When I started it was something around 0.14% to 0.26%



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To get a 0.12% trading fee you must have bought quite some bitcoin last month.....

Their spread is indeed pretty low. In fact more or less negligible.