What you need to do when moving Emergency funds from Crypto to Local FAST

I have used this service since 2015 whenever I need to pay bills, and I do hope that your country supports this service as it has been pretty big expanding from country to country.

The whole purpose to share with you this is because today I read @Yudisutira sharing notified by @bmjc98 who's I think new to crypto requested an emergency fund raising to help his grandmother.

And immediately there are already people including myself transferred some of our BCH here over to him in order to help him.

But what next?

What if he is unfamiliar and this is the first time he is actively asking for help here?

This is where I hope this sharing is going to be useful not only for him but for everyone else here who are new to Crypto and may not have enough experience to do so and might get slaughtered along the way via exchange to exchange.

Not every country has services like coins.ph . Not even Malaysia has that.

But fortunately, there is....

This is one of the sites I have used whenever I had an emergency to exchange from crypto to Local money with registered local investors so that you don't get slaughtered with unnecessary extra exchange fees.

And I am happy they now have BTC, LTC, ETC, BCH, USDT (ERC20), and even XRP for a quick check of local buyers.

So far there are already 30 countries Remitano service is supporting, including

Argentina, Australia, Bangladesh, Brunei.... to South Africa, Zambia and Zimbabwe. You literally can scroll and see if your country is supported.

Of course, Indonesia is supported.

So far as I know, unlike Malaysia that actually have a few more banks available (maybe from where I am I cannot check if there are banks there to see for Indonesia), you can see there is only one available buyer that is able to exchange immediately.

You can always check if

1. Your country supports it

2. Any sellers that has your bank support it, unless there are interbank services.

There are however, some unavoidable instances that you will need to do:

KYC

Yep. You will need to register with your ID in order to use this service. It took me around 24 hours for immediate approval, but if you need it faster...

You literally can click on this little chat bubble to request help, and they can get you validated like around an hour if there's an active customer support.

There will be some documentations required where you need to take pictures to show them, including your selfie, but that was some time back there could be some changes of validation process.

Why do they need that?

That is because this has dealings with local banking system. And local banks due to all the money laundering (no thanks to corrupted politicians) happening especially for Malaysia, banking systems becomes very strict between trading from crypto to fiat.

I think this is very inconvenient; but hey, even DeFi apps these days have KYC.

That's the drawback of the bridge between crypto and Fiat at the moment.

That is why since almost 4 years ago I have started building Team Malaysia, though for different blockchain but the main purpose is to bypass all the scrutiny with trustworthy LOCAL community where you can seek help with your fellow local district.

I personally have helped stranded (digital nomads) travelers in Kuala Lumpur through this community building and helped many of them who needed immediate help.

Including our most loved and most senior local digital nomad who passed away in Kuala Lumpur due to many health complications and lost her battle to pneumonia.

This is not a one man's work, but the entire local community (me and the founders) painstakingly built for years so that emergency cases like this will be easier to go through.

Trusting and validating each other's information so that no scam can easily penetrate through, with kindness and teamwork.

No man is an island.

Not to mention with less trouble with the banks unwantedly.

I learned this 5 years back when I was almost stranded in Netherlands with no credit card worked during my travelling days.

And the local community I established at the time came to help.

That is why it is not only important to have a digital support, but local community support.

With cases like Epidemic these days, we got to stick together and help one another instead of relying on regulators commanding our heads when we can resolve this with helping one another.

OK, enough of digressing.

If you don't have a local community formed at place, Remitano could be your fastest solution; in the mean time, start forming the strength and understand how your local banks work (whether they can transfer from one bank to another easily) while building your own support group locally and internationally.