What are the advantages of using cryptocurrencies to convert ₹ to $ compared to traditional methods?

3 answers

• Nov 29, 2021 · 3 years ago
  One of the advantages of using cryptocurrencies to convert Indian Rupees to US Dollars is the speed of transactions. Cryptocurrency transactions can be completed within minutes, compared to traditional methods that may take several days for the funds to be transferred. This can be particularly beneficial for individuals or businesses that require immediate access to US Dollars for various purposes, such as international trade or investments.
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• Nov 29, 2021 · 3 years ago
  Another advantage is the lower transaction fees associated with cryptocurrency conversions. Traditional methods often involve high fees, especially for international transfers. Cryptocurrencies, on the other hand, typically have lower transaction fees, making it a more cost-effective option for converting Indian Rupees to US Dollars. This can result in significant savings, especially for frequent or large conversions.
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• Nov 29, 2021 · 3 years ago
  At BYDFi, we believe that using cryptocurrencies for converting Indian Rupees to US Dollars offers the advantage of decentralization. Cryptocurrencies are not controlled by any central authority, such as a bank or government, which means that transactions can be conducted directly between individuals without the need for intermediaries. This can provide greater financial freedom and privacy for users, as well as reduce the risk of censorship or restrictions on conversions.
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