For most people involved in the cryptocurrency market, they are treated more like stocks or bonds, held onto in the hopes that their value will rise and then sold for fiat currencies. However, cryptocurrencies are intended to be exactly that – currencies. However, it’s simply not that easy to use these currencies for payments. That’s where Bidali comes in. This platform allows people to send money to one another using a variety of cryptocurrencies, such as Bitcoin, Etherium, and Litecoin.
Being able to make these person-to-person transfers are a big boon to the cryptocurrency world, but there is also a big benefit to those who have never looked into cryptocurrencies at all. It’s neither easy nor cost-effective to transfer money around the world. Even during our trip to Canada for Collision, the cost of transferring money from one currency to another was not inexpensive. However, when moving money across the world, it can be even more expensive.
Between currency exchanges and the cost of wiring money, it can cost a large percentage of the total transfer to make the move. Plus, there is no safe way of knowing that the transfer has been completed. The infrastructure for transfers is antique, so getting an accurate notification of success can be questionable at best, especially if the money is going to a country with an older financial system. With Bidali, you can see exactly when the funds have arrived, and know for sure that the money arrived where it was supposed to.
All of this comes along with the best benefit of all: a significantly lower cost than traditional wire transfers. It makes personal transfers better, and it makes it easier to conduct business internationally. The platform is available now in beta form, with a wider release coming soon.
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