The truth is that Crypto has begun to enter the international financial system for different reasons that are beyond speculation. Such as the traditional remittances as well as the international transfers which are really expensive.
The Crypto used for the purpose of remittances & different international transfers for circumvent the bank fees. Crypto currency has now start to enter the international financial system for some reasons that are beyond speculation. However, the traditional remittances as well as the international transfers are also quite much expensive.
Crypto Investors and remittance for avoiding bank fees
As per the latest report by the blockchain organization, the Stellar Development Foundation as well as the platform of crypto payments has revealed the fact. It says that crypto investors, particularly in the emerging markets. They are now able to use decentralized currencies for the transfers of international money like remittances.
While almost 81 percent of the respondents in report mentioned that they are also aware of the crypto currency. However, 45 percent people said that they have also used the crypto to send the money to those who are across the international borders. It also reveals the fact crypto trading has now entered in the new phase. It related to public use beyond speculation & beyond gain in investment.
The study consists of 10,000 respondents, among these 53 percent specified that they trust that fees for the international transfers are quite high. Where 37 percent people are not also sure about the fees which they are paying. However, the traditional remittances as well as the international transfers are also quite much expensive.
It was also commented by the top CEO of one of the renowned crypto exchange that the acknowledgment of report. It has also some kind of the financial inclusion and the opportunities afforded to the females.
