A study by Clovr showed that the use of digital currencies in remittances has increased in the global community. This is reported by CCN.
In total, more than 700 respondents were interviewed, who answered about the purpose, direction and purpose of their money transfers from the United States last year. The top ten countries included Mexico, China, India, the Philippines, Vietnam, Guatemala, Nigeria, El Salvador, the Dominican Republic, and Honduras. A significant part of all transfers went to their families - 76.8%.
More than 50% of respondents used PayPal and Western Union, more than 15% of people made transfers in virtual currencies, more than 25% used traditional interbank transfers, the rest used prepaid cards, checks, online transfers and mail.
With a foreign transfer of $ 500, the bank will take a commission of more than $ 52, money transfer operators - more than $ 30, by mail - more than $ 34, and mobile operators - $ 16. Cryptocurrency transfers is much cheaper
Researchers concluded that cryptocurrencies can be widely used for remittances due to low commissions and speed.