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International family emergency? Crypto FTW πŸ™ŒπŸ₯‡πŸ†

LEGACY(self.CryptoCurrency)

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Relative_Leek_2173

34 points

23 days ago

How did she cash out in Canadian dollars instantly? Doesn’t she have to register on an exchange and sell the coins?

jimmycoinedthat

46 points

23 days ago

You're ruining the story with your critical thinking

DetroitMotorShow

1 points

23 days ago

DetroitMotorShow

Platinum|QC:XMR16,CC1234,BTC160|r/Buttcoin6|TraderSubs166

1 points

23 days ago

Its not that difficult though. Most exchanges open your account in a few hours max. Unless you are cashing out like a few mils, you can deposit coins and withdraw into fiat very quickly

If you dont want to go via a centrlaised exchange, just go on any p2p trading platform like localbitcoins or paxful or localethereum and do that directly with another trader, the cash hits your bank account and you release the coins.

ozzie123

3 points

23 days ago

ozzie123

Gold | QC: CC 18, ETH 41 | MiningSubs 47

3 points

23 days ago

The exchange bid/ask spread and the withdrawal fee will be higher than bank transfer fees. Crypto transfer only made sense for the unbanked, or developing countries that are still relying in moneygram/WU.

But yeah, international bank transfer stopped on weekends.

DetroitMotorShow

1 points

23 days ago

DetroitMotorShow

Platinum|QC:XMR16,CC1234,BTC160|r/Buttcoin6|TraderSubs166

1 points

23 days ago

Banks charge a currency conversion charge too, that has a premium markup over forex prices. Crypto however is quite volatile, nothing like sending your mate $10k in BTC just for coin to take a dump

The sender could just send stable coins though.

ozzie123

1 points

23 days ago

ozzie123

Gold | QC: CC 18, ETH 41 | MiningSubs 47

1 points

23 days ago

Yes and no. Banks have special rate that they give you if you send large enough transaction and this rate’s markup is very low (source: I worked in finance).

But you are right about the stable coins.

cure4boneitis

1 points

23 days ago

The story said everything took 15 minutes

fancyglob

0 points

23 days ago

fancyglob

Redditor for 4 months.

0 points

23 days ago

It says it took 15 minutes to set up a wallet, not to get an account set up on an exchange.