10-31-2021, 12:05 PM
This is why the banks are doomed - Crypto doesn't steal from your family
<!-- SC_OFF --><div class="md"><p>Recently, I have adopted crypto in a way that is saving me and my family so much money, almost instantly. I've been invested in crypto for a while but I've never actually used it in the real world. It's going to change everything! It's just a matter of time </p> <p>Context: I currently reside in Canada. Most of my family live in Lebanon. You may know, but my home country has been getting destroyed. COVID, the August 2020 Beirut explosion, mass civil unrest and hyperinflation decimating my beautiful homeland. </p> <p>The economy is fucked up there, and every dollar goes a very long way in surviving there at the moment. My mother is financially dependent on me and I send $600 every month to her. Up until this month, I'd been sending her this amount through TransferWise using CAD fiat. I'd pay TransferWise a fee (albeit the cheapest out of all fx payment providers), and then the banks would take their cut. She'd get 570 after I send about 615 with fees. About 7.5% shaved, a sort of tax, just to send her money to live on. </p> <p>I've discovered there, since I visited recently, a business (and more popping up) of people there accepting USDT crypto, and then giving USD cash after deducting just 1%. Now I send approx $610 USD including fees, for her to receive $600- and it's same day! With the banks it's 3-4 business days. </p> <p>This has literally improved her quality of life significantly because right now those $30 that she was being robbed of before are worth a lot in Lebanon! $30 will get her 600,000 LBP (local currency) which is the equivalent of 40L of petrol or 4 huge 2-person dinners at a beach restaurant (per month!) </p> <p>Thank you crypto!!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/BritishBoyRZ"> /u/BritishBoyRZ </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qj3j0k/this_is_why_the_banks_are_doomed_crypto_doesnt/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qj3j0k/this_is_why_the_banks_are_doomed_crypto_doesnt/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Recently, I have adopted crypto in a way that is saving me and my family so much money, almost instantly. I've been invested in crypto for a while but I've never actually used it in the real world. It's going to change everything! It's just a matter of time </p> <p>Context: I currently reside in Canada. Most of my family live in Lebanon. You may know, but my home country has been getting destroyed. COVID, the August 2020 Beirut explosion, mass civil unrest and hyperinflation decimating my beautiful homeland. </p> <p>The economy is fucked up there, and every dollar goes a very long way in surviving there at the moment. My mother is financially dependent on me and I send $600 every month to her. Up until this month, I'd been sending her this amount through TransferWise using CAD fiat. I'd pay TransferWise a fee (albeit the cheapest out of all fx payment providers), and then the banks would take their cut. She'd get 570 after I send about 615 with fees. About 7.5% shaved, a sort of tax, just to send her money to live on. </p> <p>I've discovered there, since I visited recently, a business (and more popping up) of people there accepting USDT crypto, and then giving USD cash after deducting just 1%. Now I send approx $610 USD including fees, for her to receive $600- and it's same day! With the banks it's 3-4 business days. </p> <p>This has literally improved her quality of life significantly because right now those $30 that she was being robbed of before are worth a lot in Lebanon! $30 will get her 600,000 LBP (local currency) which is the equivalent of 40L of petrol or 4 huge 2-person dinners at a beach restaurant (per month!) </p> <p>Thank you crypto!!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/BritishBoyRZ"> /u/BritishBoyRZ </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qj3j0k/this_is_why_the_banks_are_doomed_crypto_doesnt/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qj3j0k/this_is_why_the_banks_are_doomed_crypto_doesnt/">[comments]</a></span>Kind Regards R