What Do You Prefer to Transfer To A Relative Outside Your Country With PayPal or Cryptocurrencies?
A few days ago a news caught me by surprise when paypal ads an increase in their commissions depending on the country of shipment.
this new policy came into effect last week with some changes in use and with it the increase in the rate of international shipping, here is the NEW RATES.
Each paypal fee is stipulated in a base amount depending on where the user is that varies paypal balance, the rate varies from 2.99 to 4.99 dollars plus 3.4% of the shipment, in Latin America or Spain the amount will be 4.99 dollars plus 3.4% of the amount sent, in my opinion these amounts are an exaggeration, previously PayPal only charged 0.3 cents plus 5.4% of the total amount to send.
Another thing you may notice is that the payment service implemented changes in the conditions of use, because now all accounts must have full verification of the information requested by PayPal, otherwise users will only have access to observe the balance of their account and permission to withdraw the money to the affiliated bank account, previously you could send money without having verified paypal what made paypal as one of the favorite processors of Latin America but the reality is different now.
Change of plans
Previously paypal was my favorite processor to send money to my sister who is in Peru, but because of these big changes I decided to use the cryptocurrency to make all my transactions both outside and within my country that is Venezuela.
Why use cryptocurrency and not paypal?
The answer is obvious for us Latin Americans 4.99 dollars in commission is a lot of money since our infraction is more superior than any other country and to all this I have already made the decision to adopt the cryptocurrency as my first option when making any transfer .
since the commissions that currently handle the most used cryptocurrencies such as bitcoin (BTC), ether (ETH), litecoin (LTC) and even dash (DASH) and (STEEM) are the lowest currently.
The good thing about the cost of the transactions from one wallet to another is that you will not be charged commissions for your geographical location, this is one of the features that I like most about cryptocurrencies, now after investigating the average time for confirmation of a bitcoins transfer is 30 minutes, with a commission of 0.18 cents. On the other hand, in networks such as Ethereum, a transaction confirmed in the same amount of time has a value of $ 0.008 and $ 0.165 in the Litecoin network.
Ok, let's go back to PayPal, I am also aware that PayPal is one of the most famous payment processors in the world and is accepted by many commerce as payment method in comparison with other cryptocurrencies.
The good thing for all of us is that there are currently many exchange houses and, among them, this "localbitcoins" that can change our cryptocurrency quickly and safely in local currency.
Tell me what you prefer with this new commission to use paypal .. !!!
Use paypal or cryptocurrencies as a means of sending abroad?
Leave me your comment
Of course anyone would use crypto because it is cheaper. But it is hard to convert crypto to fiat to at this point. There may be a fee. Other countries banks may not allow it. In the US, you can only convert to fiat via gdax, Coinbase, or a couple of other exchanges. The day when we can use crypto to buy all goods is the day of freedom!
in Latin America it is very easy to exchange bitcoin to local currency through the website "localbitcoin" the cup changes are very low compared to paypal commissions.
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