Bitcoin is the easiest way to transact at a very low cost.

1. Send Money From One Bitcoin Wallet To Another
2. Using Bitcoin To Send Money Overseas
3. How Do I Send Money Using Bitcoin
4. Send Money Using Bitcoin

' Also what's the point of being able to buy and sell Bitcoin if you can't send it to anyone on PayPal?' Using crypto to buy and P2P services is coming though but currency conversion fees will apply. If you're paying in Crypto, it will be converted to fiat and sent to the recipient. About Press Copyright Contact us Creators Advertise Developers Terms Privacy Policy & Safety How YouTube works Test new features Press Copyright Contact us Creators.

Mobile payments made easy

Bitcoin when used on a mobile device allows you to pay with a simple two-step scan-and-pay. There's no need to sign up, swipe your card, type a PIN, or sign anything. All you need to receive Bitcoin payments is to display the QR code in your Bitcoin wallet app and let the other party scan your mobile, or touch the two phones together (using NFC radio technology).

• Over Bitcoin protocol Sending money overseas should be as easy as sending an email. With Cryptopay, all it takes is opening an account and completing our simple registration process.
• Bitcoin doesn't have borders. You can send money to any recipient globally without any restrictions. Bitcoin transactions only cost you pennies, it's not a mystery why Bitcoin is used by millions of people to transfer money worldwide.
• Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrency like Bitcoin, Ethereum, and more. Based in the USA, Coinbase is available in over 30 countries worldwide.

Security and control over your money

Bitcoin transactions are secured by mathematics and energy. Cryptographic signatures prevent other people from spending your money. Energy spent by proof of work (PoW) prevents other people from undoing, rearranging or losing your transactions. So long as you take the required steps to protect your wallet, Bitcoin can give you control over your money and a strong level of protection against many types of fraud.

Works everywhere, anytime

Similarly to email, you don't need to ask recipients you're sending bitcoin to, to use the same software, wallets or service providers. You just need their bitcoin address and then you can transact with them anytime. The Bitcoin network is always running and never sleeps, even on weekends and holidays.

Fast international payments

Sending bitcoins across borders is as easy as sending them across the street. There are no banks to make you wait three business days, no extra fees for making an international transfer, and no special limitations on the minimum or maximum amount you can send.

Choose your own fees

There is no fee to receive bitcoins, and many wallets let you control how large a fee to pay when spending. Most wallets have reasonable default fees, and higher fees can encourage faster confirmation of your transactions. Fees are unrelated to the amount transferred, so it's possible to send 100,000 bitcoins for the same fee it costs to send 1 bitcoin.

Send Money From One Bitcoin Wallet To Another

Protect your identity

With Bitcoin, there's no credit card number that malicious actors can collect in order to steal from you. In fact, it's even possible in some cases to send a payment without revealing your identity, almost like with physical money. You should, however, take note that some effort can be required to protect your privacy.

Remittance is a billion dollar business, with over 400 billion dollars sent annually. Sadly for Australians across the sea, sending money home can cost an estimated 12% on top of the amount transferred. If you sent $200 home every week you would spend over $1000 a year just for supporting your family.

Using bitcoin exchanges like CoinJar (a company that lets you buy bitcoin and also sell bitcoin) you are able to:

• Convert your Australian Dollars to bitcoin.
• Transmit that bitcoin to your home country immediately.
• Convert bitcoin to currency quickly and easily at an exchange in your home country.

Below we’ll go through some bitcoin basics, and how to use it for remittance.

We’ve used CoinJar as an example, but you can use this same method with any exchange.

What is bitcoin?

Using Bitcoin To Send Money Overseas

Bitcoin is a digital currency with a global value, low fees and fast transactions. You can quickly buy or sell anywhere in the world with low transaction fees. Learn more about bitcoin here.

Sending money with bitcoin

1. Buy bitcoins with CoinJar

First set up a CoinJar account, then complete a cash deposit. Once this is done simply convert your cash to bitcoins.

2. Send your bitcoins

In your CoinJar, select ‘send bitcoin’. Then input the bitcoin amount you are sending and the wallet address at the other end. (Not sure what a wallet is? We will give you more information below)

How Do I Send Money Using Bitcoin

3. Convert at the other end

At the other end the person takes the bitcoin they’ve received and converts it at a local exchange.

The tricky stuff

Wallets

A wallet is what you use to store bitcoins. There are many options for bitcoin wallets, you can host your own or use an exchange (like CoinJar) and use their wallet feature to cash out. Learn more about wallets here.

Converting at Exchanges

Check out the best exchange options in your home country here. They list the bitcoin exchanges Coins.PH in the Phillipines, btc38 in China and Bitcoin in India. You can also find individual sellers at local bitcoins.

You can even set up an account with a bitcoin exchange in the other country and arrange for the withdrawal on behalf of your family, skipping the rremittance fees without your family having to handle bitcoin.

Compare the options

We had a look at the fees for sending $100 to from Australia to India.

Western Union

Sending $100 costs $10. According to their websites, there may also be fees at the other end, as well as a currency conversion fee.

Bitcoin

Sending $100 costs $3.10 in total. $2 to convert to bitcoin and $1.10 to convert back again. (This is based on CoinJar rates and some of the listed exchanges rates are actually lower than this!)

If you were to send $100 every week you would save $358.80 by the end of the year, which means $358.80 worth of Christmas presents you can send back as well!

To find out if bitcoin remittance will save you money, check out BTCTransit. It will pull current exchange rates and list all available exchanges in the sending and receiving country.

Pros: If you find the right exchange and take the time to set up a good pipeline you might be able to save yourself some money and some time.

Cons: It can be difficult working out which exchange is right for you, and every country is different. Initial set up may require more work than traditional exchange.

Bitcoin is a powerful tool that if used correctly can give you power over your money. It is an emerging technology so start small with your experiments, take the time to do some research and be careful. With that being said this is a great chance to learn more about this revolutionary technology and maybe save some money.

If you currently use bitcoin for remittance let us know @getcoinjar

To Note

We urge you to do your own research to find an exchange in your home country you are happy with. Every exchange and country is a little bit different.

We are not affiliated with the above exchanges or websites and accept no liability for your dealings with them.

Send Money Using Bitcoin

It is also important to check the pricing at other websites,and be aware of the fluctuating price of bitcoin. If you are remitting then try to convert to cash at the other end as quickly as possible.