During this particular hard time for XRP hodlers, I would like to share my real experience on how XRP had helped me financially (aside from investment point of view). I'm an Indonesian expat, working in Thailand. Remittance are absurdly expensive between Thailand and Indonesia. I've done my research thoroughly, and the "cheapest" remittance around was Speedsend by CIMB. Even with Speedsend, I'm looking at around 10% of total fee when sending money back to Indonesia. That might sound like reasonable if I'm sending one time money. But take this into perspective: If I'm working my ass off, outside of my country for 10 months, the 1 month salary I made will be spent on just sending the other 9 months salary back home. At this point, flying out my money back home is much cheaper compared to using any remittance available. Even by this method, I have to convert my THB to USD, fly out with USD, and convert back USD to IDR. This is guarantee the best rate (the rate between ASEAN currencies have larger margin compared to their USD pairing). With this method, I'm looking at 1% to 1.5% fee, not including the return airline tickets. Still reasonable though. I've done this kind of remittance for 7 months, until I found out about crypto-currencies in September 2017. I started investing in BTC (naturally), and then got hooked with the other altcoins, including XRP. Coincidentally, Thailand Crypto-exchange and Indonesia Crypt-exchange were two of the firsts to have XRP in their pairing list. So while it might've been hard to buy XRP if I'm working in say-Singapore, I can buy XRP directly with Thailand's fiat THB. I've marched from investing in crypto to using crypto as remittance medium in November 2017, when I realized how cheap and convenient it is to transfer cryptocurrency across the globe. I put all of available crypto into tests (excluding BTC, because the obvious high transfer fee it entails): XRP, BCH, LTC, ETH. The metric that I cared about are the fee and the clearing speed. Why clearing speed? you'll see soon enough. All the clearing time below are excluding processing time of the exchange themselves. I'm tracking the speed by the txid. All the fee are based on the rate during my transfer test:
BCH clears in 55 minutes (6 confirmations), fee: 0.3 cents
ETH clears in 12 minutes (50 confirmations), fee: 53 cents
LTC clears in 2 minutes (1 confirmation), fee: 12 cents
XRP clears under 1 minute (1 confirmation), fee: 0.7 cents
BCH comes out as a clear winner in term of fee, with almost half that of XRP. To be honest, all of the crypto I tested imposed reasonable fees which I'd overlooked because they all are under 1$. But, speed is the essence when it comes to trading crypto currencies, due to the high-volatility nature of the market. With XRP, I can buy XRP-THB, send XRP to Indonesian exchange, and then sell XRP-IDR in under 5 minutes (mostly due to exchange processing time). Doing remittance this way, I can almost surely get even better rate than what I get flying out money. XRP has helped me, in daily life problem. The token already create values for me, regardless it's price surge. If you're holding XRP token, keep hodling on!
Searching for a Crypto Exchange in Bangkok, Thailand. Preferably accepts a Unionpay debit card
Im searching for an exchange service that accepts a Unionpay debit card or cash. Preferably the former over the latter. Im hoping to purchase bitcoin and then transfer to my e-wallet. I would appreciate any help. I would prefer to do this in person at a physical exchange branch or P2P. I havent had much luck finding an online exchange that would accept Chinese RMB. If anyone has any insight, i would appreciate any help
Great News! As part of Dash Thailands new project Dash Next which is focusing on Dash growth in Asia & beyond, Dash has been listed at Dcoin, a global Top 30 CoinMarketCap crypto-currency exchange, with top-tear user interface based in Singapore. See website link in comments.
Leading Thai Forex Exchange to Add Cryptocurrencies + TOMO & ETN Updates - Today's Crypto News
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