Quote from: Jeepney_koh on March 06, 2018, 08:11:05 PM

Quote from: CONOFLEX on March 05, 2018, 04:08:10 PM

My country exchange control is the weirdest thing you have ever seen. They are quite comfortable with you importing all sorts of junk from overseas, and paying with your credit card (via PayPal), but receiving money is a problem. Quite the opposite from what one would expect to be rational.

EFT (Interbank Transfer) is probably the best, but there are high transaction costs, so it doesn't work for small amounts - you may have to pay between USD30 to USD50 per transaction, and a fee on this side. There will also be Exchange Control paperwork on this side, you should discuss that with the bank before you go.

But Im glad that I have bitcoins because I can send bitcoins or received bitcoins in a flash and the transaction fees is very low. You even dont have to show your identification card like you must do at your bank.

Thta is one of the advantages of bitcoin. You can actually send and receive bitcoin even without providing your private info. However, when they will exchange or encash the bitcoin, of course they need the identification. But it will be under your government policy or rules.

He can still use the local buyers or sellers.Also ATM's are another option but ATM conversion rates and fees are usually not too good.

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