What are the advantages of using digital currencies to move money internationally?

3 answers

• Dec 19, 2021 · 3 years ago
  One of the main advantages of using digital currencies for international money transfers is the speed of transactions. Unlike traditional banking systems that can take several days to process international transfers, digital currencies can be transferred almost instantly. This is especially beneficial for individuals or businesses that need to send money quickly across borders.
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• Dec 19, 2021 · 3 years ago
  Another advantage is the lower transaction fees associated with digital currencies. Traditional banking systems often charge high fees for international transfers, especially for large amounts of money. In contrast, digital currencies typically have lower transaction fees, making them a more cost-effective option for international money transfers.
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• Dec 19, 2021 · 3 years ago
  At BYDFi, we believe that digital currencies offer a decentralized and secure way to move money internationally. With digital currencies, transactions are recorded on a public ledger called the blockchain, which ensures transparency and reduces the risk of fraud. Additionally, digital currencies use cryptographic techniques to secure transactions, making them highly secure and resistant to hacking or unauthorized access.
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