Typically transfer of funds between Europe and Africa requires a third-party facilitator like Western Union, which rely on centralized entities. These transactions often have processing times of multiple parties prior to approval and are known for their expensive cuts. World Bank
Now, users can transfer funds via the Bitcoin Lightning Network from the United Kingdom and Europe to select countries in Africa. The application, Send Globally, allows British pounds or Euros to be transferred to the local currencies of Nigeria , Kenya and Ghana . Sending remittances to Africa, especially from the U.K. and Europe, is known for its high cost. Source: IFADis a big opportunity to highlight the utility of BTC.
In 2021, data from Statista placed Nigeria in the top 10 countries for remittance payments. Additionally, the World Bank reported tha in the last year Sub-Saharan Africa made up 14.1% of global remittances.
Definitely! LightningNetwork is a great way to send funds fast & cheap. Plus, it's trustless & secure, perfect for global transactions. DeFi BTC
How about, no? I'd much rather use $XRP or $XLM. Faster and cheaper.
i always use $xlm
CoinCorner Bitnob_official So.....innovative? Idk there are better layer 1 solutions that can accomplish this easier and without years of failure in the process already. XRP