where do you see 1,5% ? i see a 3,9% fee + they can cheat you with the exchange rate.
Hmmm I worked out the amount to receiver figure as a % of the exchange rate figure taken from xe.com.
7056.82 - 6951.13 = 105.69 / 7056.82 * 100 = 1.4977%
You are right though, there is a £3.90 charge and a poorer exchange rate.
So I think I understand now that the sender receives a 3.9% fee and the receiver suffers a 1.5% fee on top.
Looking at the localbitcoins options I don't think that it is currently competitive for someone looking to remit money to their homeland from a developed nation. I have never seen a bitcoin ATM, but from what I have seen online, they don't typically have very flattering buy/sell margins either.
So, if this is something that we are going to do..... what's the plan Andreas?
that is the point i guess.
maybe BTC lacks adoption and proper options to remit money worldwide at the moment. BUT this has already changed and will change even more in the future.
in the future you will pay 0,xxx % and not 5-15 %
(+ instant transactions with BTC)
@LaudaM
people dont know about BTC, trust is not the problem.
+ we need more infrastructure.
