I use transferwise all the time for usd to eur.
The loss is closer to 1%. E.g. 1k usd costs $10 to transfer at the googled exchange rate.
Better solutions are out there. Bitcoin is, as always, a solution looking for a problem.
The loss is closer to 1%. E.g. 1k usd costs $10 to transfer at the googled exchange rate.
Better solutions are out there. Bitcoin is, as always, a solution looking for a problem.
I recently did a lot of EUR-USD transfers and have evaluated several options. I came to the same conclusion as other posters here: Services like Transferwise and Currencyfair are all very cheap, and do the job well and without risk.
Going through Bitcoin was not even close to competitive.
And no, despite doing some research on Transferwise before using them I didn't run into horror stories of them freezing wires. Transferwise has always been very professional and helpful in interactions with me (more so than my own bank).
But no, if I were putting such a big amount of money in their hands at once I would certainly do more research and look for better safeguarding.
Unfortunately all those money-wire services are registered in UK and UK has the most strict KYC rules I think ever existed in free commerce. If you start sending bigger amounts they will shut you down, no matter how much due diligence you provide they just scared of repercussions, just in case.
Of course they do. There is an inherent transaction fee built into networks like Bitcoin, plus the fees exchanges charge.