What are the advantages of using cryptocurrencies instead of Hong Kong dollars or US dollars for international transactions?

3 answers

• May 05, 2022 · 3 years ago
  One advantage of using cryptocurrencies for international transactions is the speed and efficiency. Cryptocurrency transactions can be processed quickly, often within minutes, compared to traditional bank transfers which can take several days. This can be especially beneficial for businesses that need to make time-sensitive payments or individuals who want to send money to family or friends abroad without delays or high fees.
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• May 05, 2022 · 3 years ago
  Another advantage is the lower transaction fees associated with cryptocurrencies. Traditional international transactions often involve high fees charged by banks or other intermediaries. With cryptocurrencies, the transaction fees are typically much lower, making it a more cost-effective option for international transfers. Additionally, some cryptocurrencies offer zero or minimal fees for transactions, further reducing the cost.
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• May 05, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, believes that using cryptocurrencies for international transactions provides users with greater financial freedom and control. Cryptocurrencies are decentralized and not controlled by any central authority, such as a government or bank. This means that users have full control over their funds and can make transactions without the need for intermediaries. This level of control and autonomy is appealing to many individuals who value privacy and want to avoid potential restrictions or censorship that may come with traditional currencies.
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