14 votes

Does it make sense to use BitCoin to transfer money to yourself internationally?

While in the US last year, I sent money to myself in Europe that way once, because it was significantly cheaper than using the legacy banking system. I think it mostly comes down to whether you have ...
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  • 62.3k
5 votes

Does it make sense to use BitCoin to transfer money to yourself internationally?

To organize a wire from Europe to the US and back using bitcoin without fees, you can: Open an account on KRAKEN.com do a IBAN/BIC wire to your kraken account (free!), takes 2-4 business days Open an ...
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4 votes

Does it make sense to use BitCoin to transfer money to yourself internationally?

Most big US banks charge 40-50$ in fees for international transfers and take a cut of the exchange rate. You might be able to lower this if you use a company like Usforex or Xoom, which I believe take ...
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  • 171
3 votes

Does it make sense to use BitCoin to transfer money to yourself internationally?

To make an international money transfer using bitcoins you need to figure out 2 things: 1. How to convert FIAT to BTC and 2. How to convert BTC to FIAT. FIAT to BTC Open an account on your local ...
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  • 61
2 votes

Bitcoins & Somalia

I'm Software engineering major, Somali-American. I am working on online wallet which will be an alternative for sending money to Somalia. The website will be functional by the end of march 20 2015.
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2 votes

Bitcoins & Somalia

i am in Somalia, Mogadishu. Bitcoin can be a solution for Somalia as its simple money transfer service but but INTERNET connection availability is quite bad.. for me, i wanna start bitcoin service in ...
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2 votes

bitcoin core problem payment

where is my bitcoin money, when downloading is failed. Your money is in the Blockchain (loosely speaking). It is not affected by the state of your wallet. When your wallet finishes collecting its own ...
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1 vote
Accepted

How do i cash the money from my NiceHash account to Paypal or European Bank account?

From https://www.nicehash.com/help/how-can-you-use-earned-bitcoins: Once you receive your payments in your personal wallet, you can: transfer Bitcoins to Bitwala and pay your bills in EUR ...
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  • 184
1 vote

Tax implications of bitcoin income

The idea is to sell the bitcoins in India and wire him back the money from the sales proceeds in India. Translate: The idea is that he commits tax fraud because he will not report the sale as ...
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  • 177
1 vote

Can I use Bitcoin to send money from a US bank to an Indonesian bank?

Bitcoin is not well integrated with the legacy banking system. What you want to do would therefore go somewhat like this: Open an account with a Bitcoin exchange (A) that takes US customers. (...
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  • 62.3k
1 vote

Can I easily use Bitcoin as a inexpensive way to transfer my money into another currency?

I have done this successfully in the past, just like you for USD to EUR. You'll pay probably pay around 0.5% to move USD into Bitcoin, then another 0.5% to move them to Euro. In any case, you should ...
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  • 62.3k
1 vote

BTC-e international wire transfer in USD from Russia

I contacted another bank and was reassured that any wire transfer from a Russian resident to any person or company could be made without supporting documents if it is under 5000 USD or equivalent. As ...
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