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Today I learned. Sending money overseas to my US broker is faster with crypto than the local currency.
This takes 2~3 days: fiat in account-> bank -> internation wire trsnasfer -> broker -> fund clearing
While this takes less then a day: fiat in account -> crypto exchange -> USDT/USDC/ETH -> broker (no fund clearing step)
Wow the speed of banks amazes me
2 years ago
Given the lengths banks go to for 'know your client' and their absurd 'security' measures, it seems no amount of reassurance is enough for them to just move money quickly. Crypto really does work well for that, it's just been a terrible way to store money so far. · 2 years ago