nerdlinger wrote: ↑Sun Sep 26, 2021 5:43 pm

duran wrote: ↑Sun Sep 26, 2021 5:50 am

John Bingham wrote: ↑Sat Sep 25, 2021 11:06 pm Besides all the retarded shit, isn't Paypal pretty much useless here?

Not if you have a US PayPal account linked to a PayPal cash card or debit card. That MasterCard debit card can be extremely useful for Americans as they are the only ones qualified to get that card.

https://www.paypal.com/us/webapps/mpp/m ... debit-card

I think there must be some other way too because my Khmer teacher takes PayPal and they’re not American.

Also who sets up as an expat PI without having some way to get paid other than cash? Seems like if I were going to run a business aimed at foreigners I’d be set up to take Visa/MasterCard.

Yes, there are other ways such as forwarding the cash to a third party or family member who in turn sends the money by western union or moneygram to Cambodia. Alternatively, by sending the PayPal funds to someone in exchange for cryptocurrency.

If your Khmer teacher has family in Europe or in the US or Australia, they can send by PayPal to that person who in turn can withdraw to their bank account (unlike here where it's not possible to withdraw). You might want to ask them about it because I am genuinely interested about how they get around the restrictions. I have a paypal.com/kh account and it won't let me withdraw. Receive, yes.

There might be some money changers or Cambodian-Americans or Cambodian-Australians who accept PayPal funds against a commission. They can easily withdraw from PayPal to their bank accounts.

Is it cheaper to buy crypto and then change it for USD in Cambodia than to use Western Union? Does anyone have any figures on this? I figured the exchanges here would be at least as expensive, plus up to two sets of transaction fees to move the coins themselves, but I’ve never seen the actual numbers.

Edit: just had a quick look, https://localbitcoins.com/country/KH has a greater than 10% gap between their Bid and Ask price, as do the other two places I skimmed. Western Union seem to work out at broadly 5-6% of mid-market after fees, which sounds about the same on the surface but of course you still also have to pay the exchange fee of the crypto broker that you buy the crypto from in the first place plus any network transaction fees.

What I also found very telling when browsing the exchanges is just how many of them advertise as “Buy Bitcoins” with no mention of the idea of selling them. Says it all really.

nerdlinger wrote: ↑Sun Sep 26, 2021 6:53 pm Is it cheaper to buy crypto and then change it for USD in Cambodia than to use Western Union? Does anyone have any figures on this? I figured the exchanges here would be at least as expensive, plus up to two sets of transaction fees to move the coins themselves, but I’ve never seen the actual numbers.

Edit: just had a quick look, https://localbitcoins.com/country/KH has a greater than 10% gap between their Bid and Ask price, as do the other two places I skimmed. Western Union seem to work out at broadly 5-6% of mid-market after fees, which sounds about the same on the surface but of course you still also have to pay the exchange fee of the crypto broker that you buy the crypto from in the first place plus any network transaction fees.

What I also found very telling when browsing the exchanges is just how many of them advertise as “Buy Bitcoins” with no mention of the idea of selling them. Says it all really.

BitcoinCambodia charges a spread of about 5%, takes about 20 mins, requires no ID or address and is zero hassle. How that compares to WU depends on how much you're sending. When I was living in Cambodia and choosing to take a substantial portion of my salary in bitcoin it was very helpful.
If you're living in Cambodia but are a resident of another country with better laws and have your debit card from that country with you then the fee to just use an exchange and withdraw to a bank account is much less, 0.2% or less in most cases for the transaction and a flat fee of about $5 or $10 for the withdrawal.

Not too long ago I felt that everything could escalate rapidly on that of a downward spiral, when I was refused access by my bank to get to my own funds. It's a very daunting feeling, I suppose when you may have overlooked something, or even the fact that even you are in a stable situation, having the funding in safe hands to support yourself. But has I had ultimately found too what you could certainly call a surprise and a bolt out of the blue, there are at times when a third party can come into play and threaten your normal daily plans.
With this thread, you could say I am a little confused! The guys friends are asking people to support him by the means of money to buy food. I read on to find he has spent a short time in a Chinese jail. He is a Private Investigator in Cambodia. What was he doing in China, and if he is now in Cambodia, where is he? His friends I believe are using a feeble excuse to say they can't get money to him to buy food.

These people?


Those two numbers differ by 9%, but maybe we have different definitions. Perhaps you’re talking about the difference between the mid-market rate, but again, that’s not hugely useful if you haven’t bought your Bitcoin yet.
Their FAQ also lists a Commisson Fee of 4% and says senders are responsible for the network transaction fees on the sender’s side.

Anchor Moy wrote: ↑Sat Sep 25, 2021 7:08 pm
Or maybe the US Embassy could assist him to go home.

absolutely. one's own government must repatriate a stranded citizen. the us will loan the citizen the money.
which suggests there is something fishy here

Multipox wrote: ↑Sun Sep 26, 2021 8:16 pm

Anchor Moy wrote: ↑Sat Sep 25, 2021 7:08 pm
Or maybe the US Embassy could assist him to go home.

absolutely. one's own government must repatriate a stranded citizen. the us will loan the citizen the money.
which suggests there is something fishy here

Lol, a private detective who has been in Cambodia for two years and does not know about Cambodian plumbing (yes, toilet paper fks it up), or bum-guns ?
Time to go home IMO.

bittermelon wrote: ↑Sun Sep 26, 2021 5:11 pm So strange the attachment some people have to toilet paper.

Don't we all use toilet paper to dry off after the bumgun and to check that the area is really clean and then throw the paper in the toilet?

nerdlinger wrote: ↑Sun Sep 26, 2021 8:07 pm These people?


Those two numbers differ by 9%, but maybe we have different definitions. Perhaps you’re talking about the difference between the mid-market rate, but again, that’s not hugely useful if you haven’t bought your Bitcoin yet.
Their FAQ also lists a Commisson Fee of 4% and says senders are responsible for the network transaction fees on the sender’s side.

You wouldn't be buying bitcoin from them and sending it to someone else via them, that would be silly. We're talking about cashing out into fiat, and the rate they charge is roughly 5% over market rates. Don't over complicate it for the sake of being obtuse, it does no one any favours. If you live in a "normal" country you can just buy it from a regular exchange for 0.2% in fees or less. From my experience with them they weren't charging any fees other than the spread (and yes, you also pay the network fees but they are usually very, very low if you're willing to wait a little while).

John Bingham wrote: ↑Sat Sep 25, 2021 11:06 pm Besides all the retarded shit, isn't Paypal pretty much useless here?

well not really...if you transfer 20 bucks on my paypal account..i would probably give you the net amount arrived on my account in cash if I was in Cambodia...if you are in an emergency situation that is.