Remittances to El Salvador are cheaper without using bitcoin

Remittances to El Salvador are cheaper without using bitcoin

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  1. Chivo to chivo is free (pretty much) via lightning integration. No one sending those small amounts is going to go to Coinbase to exchange. These authors need to get their facts checked, or just continue making themselves look stupid

    Edit: also – “it was used in el zonte but it didn’t catch on” LOL

  2. Can we stop posting these FUD articles please? Like I get it you’re trying to be ironic or have everyone poke fun at them but all it does is give them more traffic and fill up our feeds with stupid nonsense most of us are here to avoid.

  3. tldr; El Salvador’s president Nayib Bukele claims that the Central American country will save $400 million a year in remittances by adopting bitcoin. However, a fintech consultant says there may not be a cost or time savings for remittance payments using bitcoin versus PayPal or Western Union. Remittances are estimated to make up around 20% of gross domestic product in El Salvador.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

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