120 sats \ 1 reply \ @mikhael 23 Jul 2022 \ parent \ on: Abandoned by the World Bank or the UN, Migrants in Africa Are Turning to Bitcoin bitcoin
Nothing wrong with paying 3% to send someone some money - people need to get paid somehow. The problem, of course, is that usually these fees are 10% plus - with 25% not uncommon.
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100 sats \ 0 replies \ @KenyaCoin OP 23 Jul 2022
people need to get paid somehow.
Eliminate the need for people between sender and recipient, and you no longer have people needing "to get paid somehow".
The AML/KYC requirements along with capital and currency controls are major contributors that make operating a remittance service so expensive.
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