Post
Topic
Board Beginners & Help
Re: Best way to send money from USA to Germany?
by
janspambox
on 28/02/2013, 11:24:23 UTC
My sister periodically sends money from here to germany and pays all the fees so I'm wondering....


If you do this on a regular basis, don't forget to look into non-bitcoin transfer methods too. If a simple bank transfer is too expensive, there are money transfer services that could be cheaper. Don't get tricked - make sure to look for the entire amount. Some services (e.g. xoom) offer extremely low fees, then scam you on the exchange rate.

With Bitcoin, you have the fees from buying and then again fees from selling. It may well be cheaper than the overpriced transfer services, but it doesn't have to. Additionally, you have an exchange rate risk (the BTC rate can fluctuate during the transaction). Especially given that there is a possibility that the current high exchange rate is a bubble that can quickly burst, you may want to consider this.