@Telesfor
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I don't understand why people still use Western Union and pay these horrendous fees to transfer the money to their relatives in the third world. With Bitcoin Cash it is possible to do it immediately and almost for free.
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So true.
For me Western Union always was something that was great in XX century and should stay at the XX :)
Why are people still willing to pay for WU. They don't have much money anyway.
Most of them doesn't know about any alternatives
I don't get it. Normally, such knowledge spreads very quickly. People want to save money. Every dollar counts.
Try to ask a random person on the street about BCH or any other crypto. Probably most of them never heard about
I believe that. There are a lot of new things that people don't know about. Ten years ago, when you told people about smartphones, they wouldn't have known about it either.
We can try to start it so that others would see how fast and reliable it is. Most people prefer to see proofs nefore joining. And for someone like you, you're a good source to establishing an awareness, starting from the members of read.cash.
This is the right way. If you know someone who has relatives abroad, show them how it works. He has to buy BCH abroad and send it to the Coins.ph address in the Philippines. The recipient can then exchange it immediately into PHP.
I don’t know why some people still write checks in the super market when they can use a credit card which does it in a fraction of the time :)
In my area you can only pay by card in Corona time (for health reasons).
The learning curve is still pretty big for the average user and also most people still can’t take the price fluctuations of a crypto currency. Maybe a stable coin for that.
Stable coin Is a solution. But if there is not much time between buying BCH in one country and selling it in another, the exchange rate risk is relatively low.
Not all people are knowledgeable when it comes to BCH. But it would be great if the started to know and learn about it.
I know that many people don't know about BCH, but they must have the desire to make a transfer cheaper and faster. Hasn't anyone done it yet and told friends?
Hmmm. I don know really, well, ive known some people who are using it. I am not the one to talk actually, since i havent done it. But hopefully soon i can make a transaction using bch😊
Most of the time you have to do it once and try out how it works. The second and third time it is already routine. The relatives just have to find the possibility to buy BCH abroad. There are many Exchanges in many countries that make it possible. What countries are we talking about?
Im referring to philippines. Bch is not yet common in our neighborhood
As for Africa my continent, Crypto currencies is still not regarded as a legal tender, and only virtually few people knows about bitcoin cash. Maybe an enlightenment campaign is needed across Africa countries about the benefits of bitcoin cash. Honestly speaking, I believe bitcoin cash is the future global money.
I don't see it as currency yet. I see the following use case. The relative in Europe buys BCH for Euro and transfers it to the address of the relative in Nigeria. He exchanges it immediately in Naira. It works very fast. There is no exchange risk. It is simple.
There are some reasons for that: Many people still don't understand and they don't know what cryptos and BCH are or how to use them. Add to that their unstable price which make people unsure about dealing with them. Like every new invention, people needs time to stop using the old methods and replace them with BCH. Another reason is it's hard to exchange BCH to the local fiat currency because of some governmental restrictions.
Exchange rate fluctuations can be easily resolved. Did I write Fexonice1 below like. It can indeed be a problem if you cannot exchange BCH into the local currency in the destination country. The citizens of these countries have bad luck. But Africa and Philippines allow to exchange BCH into national currency and still millions of Africans and Philippinos use WU and give away their hard earned money.
Some african countries don't allow cryptos. For example Morocco. the government there banned cryptos. And if you break that law, You will be thrown in jail. Other countries are thinking about banning them too. So it's not easy at all to start dealing with BCH or any other crypto. The road is still very long to reach a destination where BCH can beat WU.
Yes, the countries where cryptocurrencies are prohibited do not have this possibility, but there are many countries where cryptocurrencies are allowed and still WU is used.
I saw this post today and I smiled, you just said it all, I even wonder why people still use other cryto currency when BCH is cheap and almost free when making transaction....
I think most people are still not really aware of how cryotos really work. That should be one key factor
There are so many users here. Don't you know anyone who gets money from abroad I read that there are a lot of Philippinos abroad.
Philippines are the supplier of nurses in the world
I hate Western Union for taking a huge fee and unfair exchange of fiats. They take almost 10 percent of the quantities and I'm also a victim of that. When my grandma send 50 bucks 48 is the clear money I have.
What country does your grandma send you money from?
USA, California. But unfortunately now i don't have any budgets due to corona virus. :((
Yep crypto is the game changer. Especially fast ones. only 1% of population seems to knowabout crypto lol
you are right sir,,but most of the filipinos are still not aware or have no knowledge yet in cryptocurrencies,,lets say 80-90 % more or less of filipino peoples dont know yet how crypto or what crypto really is....
Do you know anyone who uses WU for international transfers?
I assume that people still think that crypto currencies are for gambling or dark web. Some of my friends bet online by using Ripple and when I ask them why do not you use crypto for such transfers of value, they respond that this money is for fun or I do not trust cryptocurrencies because they are highly volatile 😑
Yes volatility is a problem, but if you quickly exchange the BCH into local currency after receiving it, the risk is low.
Maybe because they don't know what crypto is, much more BCH, here in our country (Ph) majority of the people only know BTC and their knowledge about this is that it is for trading only like a gambling thing. I have a lot of friends working abroad if ever I will try to convince them to use BCH I don't know either where they can buy BCH and some people are so dumb with instructions on what to do. That's why maybe they opt to choose the old and manual transfer like WU. But I want to try this one, my partner wants to send money where to buy BCH in China or Japan? So he can save more fees. I mean what wallet he can use and where he can fund his BCH wallet in those countries?
Hi telesfor yes, I agree. But the easiest, simple or convenient way they know is filling up the form and sending the money. Yes, almost all Filipino still use them. First, because most of the provinces do not have easy access to the internet. They were just waiting for calls of whom they get the money. They only need to fill up the name address and contact number. The second crypto is way more complicated for users born and raised in a traditional way. Teaching them once and far is not enough they need a home tutor, as every day accompanied. And we are just adopting the internet "sending online" money without the third party especially when a pandemic strikes. All or most of the merchants or consumers are just learning them out. Give us some time and I know we can and learn the cryptos too. These are just my view. I, myself want to introduce it also. But how BTC impacts the cryptos here in the Philippines will need more power to get their attention again.
Yes, access to the Internet is a prerequisite. This is an obstacle. But I would not use BTC, but BCH (Bitcoin Cash). The BTC fees are sometimes higher than WU.
Some people don't have the idea about Bitcoin and some of them do know it but don't know how to how yo use it properly. Also, Bitcoin is not easily accessible to some places like rural areas. It can not easily claim or cash out to some places that only having rural banks and remittance centers. So, that's why people take the risk to send money through Western Union even though it requires a higher fee. At least, people can be at ease to know the money they send to their families will reach them for sure.
Is coins.ph not available everywhere in the Philippines?
In my surroundings, there are only a few who know about cryptocurrency. I also just got to know crypto world 2 years ago. I am trying to introduce crypto to others who a willing to learn. It is not much though. Everyone is afraid of it.
Hi sir, Yes I agree with that. But in my case and in my place, Internet is not so good, people here my family and neighbors are not focus on digital word , they don't know about Crypto currency, about BCH, and any other information about digital currency so they must choose the traditional way of transferring money like Western Union. But it's possible if the sender have knowledge in Bitcoin cash while the reciever too is familiar with BCH. YES it has lowest fee to transfer money but we need some massive adoptation first before it will make it possible soon.
But you can save a lot of money. Relatives abroad only need to buy BCH and send it to the recipient's address in the developing country. The recipient will exchange it for the local currency. Every dollar counts. Why spend the hard-earned money on WU?
You are absolutely right.I agree with your opinion. But there is some problems.people do not have enough knowledge about Bitcoin Cash.
For this reason, anyone who knows someone who uses WU should explain to them the option of using BCH.
yeah.Thank you so much for explaining BCH with us.
Sir, maybe bch still don't yet introduce to them. And furthermore when cashing in to banks the payment are very high.
It is precisely because the banks are so expensive that people should buy BCH and transfer it. I understand that WU is used for cash deposits and cash payments, but in the Philippines there are coins.ph and in Africa there are similar ones. Are these services so expensive?
Its about mindset, many people knows the existence of Crypto but they still use western union and other remittance service because they are programmed too, they have in mind that only those services can send money to their relatives across the world and with that spend a lot in fees, that could be much helpful to them, its time to approach more to this people with intense campaigns and make the abroad workers to start using Bitcoin Cash and other Cryptos as remmitance to solve immediate problems of money.
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