The use of virtual or cryptocurrency occurs through electronic wallets. Any citizen can create a wallet for himself by installing a special program on a computer. At the same time, entering personal data is optional, which is important for citizens who want to maintain the anonymity of sending. The funds in the wallet are first converted into cryptocurrency on special exchanges, then transferred to the recipient's electronic wallet.
There are no restrictions on the amount of cryptocurrency transfers, so such a method as cryptocurrency transactions allows you to transfer a large amount of money abroad. The on existing mobile number list have commission is 1-3% of the operation. The recipient will be able to cash out the cryptocurrency within up to 2 days. Some countries do not even charge VAT for converting cryptocurrency into real money.
The disadvantages of cryptocurrency transactions include high volatility and insecurity of the currency with assets. There is also a high risk of hacking the wallet, after which it is impossible to return the funds.
Interesting facts: the first product to be paid for with cryptocurrency in 2010 was pizza. For 2 pizzas, the miner Laszlo had to pay 10 thousand bitcoins. Today, more than 3,000 bitcoin ATMs are used worldwide, most of which are located in America, Europe and Canada.
Bank transfers are transferred within 1-5 business days. At the same time, it should be borne in mind that the operating day of banks in different countries ends at different times, taking into account time zones. Transferring funds directly to a plastic card by its number can be done faster, within a period of 1 hour to 24 hours.