Well, he hasn't obviously tried to send money from Europe to Latin America.
On $2000 transaction. $25-40 bank transfer (takes up to 5 days). $80 Payoneer (can be fast, but can also take 2 days) $1 Bitcoin (4 hours)
Well, he hasn't obviously tried to send money from Europe to Latin America.
On $2000 transaction. $25-40 bank transfer (takes up to 5 days). $80 Payoneer (can be fast, but can also take 2 days) $1 Bitcoin (4 hours)
If you want to have cash in hand within minutes, they offer that too, albeit with a hefty surcharge.
With Bitcoin, you have to pay an on-ramp and an off-ramp because EUR->Bitcoin->CLP, which will be hard to get done cheaper than the WU currency exchange spread (introductory offers don't count, so keep your anecdote). Given current Bitcoin volatility you need to do the currency exchange quickly or you may have a hodl moment and have to wait for Bitcoin to regain its value.
I really fail to see where the great savings from carrying out such a transaction via Bitcoin are supposed to come from, in particular when take into account the number of intermediaries I have to interact with and trust and the technical complexity involved in handling Bitcoin. People are always willing to pay a small fee for comfort and security.
But you are right. Their fees are way cheaper than bank & Payoneer.
Ad on-ramp&off-ramp - sure. This is a temporary situation in which it adds some expense. Hopefully, people will have a chance to have cards refilled directly with cryptocurrencies worldwide (they already exist for major countries).
Also, as Bitcoin is deflationary, in those 5 years, I usually got more than $2000.
But this is I guess just temporary. And if Bitcoin will grow, it will stabilize (probably) and interfacing with the world will get cheaper (both exchange to fiat or buying directly for cryptocurrencies or cryptocurrency-backed payment card).