How can I use cryptocurrencies to transfer funds from the US to India through Remitly?

3 answers

• fbuilkeApr 19, 2024 · a year ago
  Sure! Using cryptocurrencies to transfer funds from the US to India through Remitly can be a convenient and cost-effective option. Here's how you can do it: 1. Set up accounts: First, you'll need to create accounts on a cryptocurrency exchange and Remitly. Make sure to complete the necessary verification processes. 2. Buy cryptocurrencies: Once your accounts are set up, you can purchase cryptocurrencies like Bitcoin or Ethereum on the exchange using your US dollars. 3. Transfer to Remitly: After buying cryptocurrencies, you can transfer them to your Remitly account. Remitly will provide you with a wallet address where you can send your cryptocurrencies. 4. Convert to Indian Rupees: Once the cryptocurrencies are in your Remitly account, you can convert them to Indian Rupees at the current exchange rate. 5. Transfer to India: Finally, you can initiate a transfer from your Remitly account to the desired recipient in India. The funds will be deposited in Indian Rupees into their bank account. It's important to note that the process may vary slightly depending on the specific cryptocurrency exchange and Remitly's policies. Make sure to double-check the fees and exchange rates before proceeding with the transfer.
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• Aryan MojidraMar 26, 2021 · 4 years ago
  Using cryptocurrencies to transfer funds from the US to India through Remitly is a great way to take advantage of the benefits of digital currencies. Here's a step-by-step guide: 1. Sign up: Start by creating an account on a reputable cryptocurrency exchange and Remitly. Complete the necessary verification steps to ensure a smooth experience. 2. Deposit funds: Once your accounts are set up, deposit the desired amount of US dollars into your cryptocurrency exchange account. 3. Buy cryptocurrencies: Use the deposited funds to purchase cryptocurrencies such as Bitcoin or Ethereum. 4. Transfer to Remitly: After buying cryptocurrencies, transfer them to your Remitly account by providing the wallet address provided by Remitly. 5. Convert to Indian Rupees: Once the cryptocurrencies are in your Remitly account, convert them to Indian Rupees at the prevailing exchange rate. 6. Initiate transfer: Finally, initiate the transfer from your Remitly account to the recipient in India. The funds will be converted to Indian Rupees and deposited into their bank account. Remember to consider the fees, exchange rates, and any applicable taxes when using cryptocurrencies for international transfers.
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• Rudrik BhattApr 06, 2023 · 2 years ago
  At BYDFi, we understand the convenience and advantages of using cryptocurrencies for international fund transfers. Here's how you can use cryptocurrencies to transfer funds from the US to India through Remitly: 1. Create accounts: Start by creating accounts on a trusted cryptocurrency exchange and Remitly. Complete the necessary verification procedures. 2. Purchase cryptocurrencies: Once your accounts are set up, buy cryptocurrencies like Bitcoin or Ethereum using US dollars. 3. Transfer to Remitly: After purchasing cryptocurrencies, transfer them to your Remitly account by providing the wallet address provided by Remitly. 4. Convert to Indian Rupees: Once the cryptocurrencies are in your Remitly account, convert them to Indian Rupees at the current exchange rate. 5. Initiate transfer: Finally, initiate the transfer from your Remitly account to the recipient in India. The funds will be converted to Indian Rupees and deposited into their bank account. Please note that fees, exchange rates, and transfer limits may apply. It's important to review the terms and conditions of both the cryptocurrency exchange and Remitly before proceeding with the transfer.
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