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A comment on Banks Are Fleeing Crypto. Bitcoin Investors Should Be Worried. Parent comment

Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by tnel77 on Monday January 09, 2023 @08:47PM (#34319270)
In the USA? Not much. Bitcoin is a decent choice for sending your money across borders though! It could also be a gift if you think holding it long-term would be valuable. I remember my grandma buying me bank bonds as a kid for the same reason.
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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by eli on Monday January 09, 2023 @09:16PM (#34319492)
I usually send money across borders using Wise.com or wire transfers. What am I missing out on with bitcoin?
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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by okokwhatever on Monday January 09, 2023 @09:56PM (#34319927)
Fees
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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by tnel77 on Monday January 09, 2023 @10:56PM (#34320322)
What are the associated costs with those services?
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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by xigoi on Tuesday January 10, 2023 @07:01AM (#34323496)
Probably lower than with Bitcoin.
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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by tnel77 on Tuesday January 10, 2023 @01:07PM (#34328915)
Really? I wasn’t aware you could send $1k for Pennie’s like you can with Bitcoin. Very cool!
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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by eli on Tuesday January 10, 2023 @01:38PM (#34329370)
You mean the equivalent of $1k based on the spot price of bitcoin? But I don't have bitcoin and my recipient doesn't want bitcoin.

If I send $1000 USD to my friend in Australia using bitcoin how much AUD do they receive? And what does that process look like?

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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by eli on Tuesday January 10, 2023 @07:20AM (#34323692)
A fraction of a percent.
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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by tnel77 on Tuesday January 10, 2023 @01:09PM (#34328943)
Not too bad. Bitcoin would probably only be worth it if you were moving larger amounts.
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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by zirgs on Tuesday January 10, 2023 @04:10AM (#34322244)
I have sent money across borders countless times and it arrived just fine. No need to give my money to shady exchanges like FTX.
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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by tnel77 on Tuesday January 10, 2023 @01:08PM (#34328923)
You don’t have to use an exchange to send a cryptocurrency. I personally use them to buy crypto, but then I send my assets to a hardware wallet asap. From there, you can send it anywhere you’d like.
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