Sending funds with barely any fees might be the use case that makes crypto mainstream.

There are so many people living abroad that send money through things like Western Union and Wise – and crypto can deliver a better experience overall.

When crypto finally starts breaking into the mainstream and people realize that there are things like Tron and e-Money that lets you to send funds at near zero fees, it will make crypto spread ultra-fast.

People outside of the crypto community do not really care much for learning about what crypto has to offer or the tech behind all the new alts that pop up every day. But something really useful such as sending funds with little to no cost can really attract more people to crypto.

Features like crypto compatible credit cards from Binance or Coinbase becoming so popular and offering crypto cash back along some cheap fees, the crypto market might finally reach mainstream status after all.

Sending funds with barely any fees might be the use case that makes crypto mainstream.

33 thoughts on “Sending funds with barely any fees might be the use case that makes crypto mainstream.”

  1. Nano is completely feeless and meant just for this and there are dozens of others that have essentially zero fees as well (everything from XRP–big name, to MTV–little name).

    I think this is just an attempted sneaky shill…

  2. So long as the western union business model exists, crypto hasn’t reached its full potential.

  3. Yep. And when people realize that the “final settlement time” of ten minutes is actually faster than fiat where it takes up to a day or more in most cases. Even though values are reflected in account balances before money actually moves or is confirmed.

  4. how often have you tried to send money abroad? I haven’t, and banks are pretty good at that too.

    ​

    just accept it, there is no real use case for crypto

  5. It’s all about lowering the barriers of entry to new players, either with transaction fees, ease of use and transaction speed mostly!

    This is a big reason of the rise of all the L2 alternatives ranging from MATIC to alternative solutions like Binance Smart Chain, Unique Network and Polkadot. Among many other of course

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  7. I’ve been abroad for years and when credit cards are out of the question (like for rent), this has always been an issue for me. Now I just send myself XLM Stellar with literally zero fees. Has made things much easier.

  8. Really?

    >There are so many people living abroad that send money through things like Western Union and Wise – and crypto can deliver a better experience overall.

    The only way it delivers a better experience overall is if the exchange of money is done by two established crypto users, in that case, why even bother going thru Western Union in the first place?

    Asking people to jump thru hoops (sign-up for a crypto exchange, link your bank account, KYC, transfer funds, buy crypto, send crypto, have the recipient create an account, link his bank account and cash out the crypto he received) is not a ‘better experience overall’.

    The nature of the funds transferred from sender to receiver is irrelevant to the service and convenience it offers. Western union could start using crypto to transfer the funds from A to B, it doesn’t change anything to the end users who just needs to send money to someone abroad.

  9. Tron and e-Money allow users to make huge transactions for cheap fees.

    Following the mainnet launch, e-Money issued their first batch of EEUR, ECHF, ESEK, ENOK and EDKK tokens to demonstrate the platform’s capabilities last year.

    The e-Money software is based Cosmos SDK and Tendermint based, which means proof-of-stake and instant finality.

  10. Mainstream adoption is inevitable and it will be driven by low and instant crypto payments. Tron and e-Money are top projects. I like e-Money’s EEUR stablecoin and I will instantly get their crypto card if it becomes available.

  11. While international transfer feed may be lower with crypto, crypto fees are still much higher the OSKO

  12. Sending money globally for near-zero transaction fees is a big flex. This will help with Instant settle cross-border payments and reduce costs, save time and optimize business. The adoption of Tron and E-money stablecoins and other crypto compatible credit cards by businesses and individuals is just a matter of time.

  13. If Nano was private like Monero, it wouldn’t even be a competition. I don’t advise either.

    If somebody was smart enough to pull this off competently, (private, no fees, established mint limit, everyone starts with none including devs, fair acquisition, professional non-meme branding) they would win the crypto space.

    I’m talking about a currency we wouldn’t peg to anything, because we would want to use it as an actual currency.

    One world currency is the ultimate use-case for a payment coin, hands down.

    I’m waiting.

  14. Look at this Redlight finance company. Also they are doing a gas less block chain

  15. Mainstream adoption will come eventually and it will be accelerated through defi 2.0

  16. This post feels like it’s from 2011. Not that that is a bad thing, but a cheaper alternative to western union has been touted as a huge benefit of Bitcoin from very early on.

  17. I agree. I heard they’re installing bitcoin ATM machines in Cardena grocery stores soon.

  18. Lmao this was the use-case that was supposed to make it “mainstream” back in 2017. I too thought this was a good application of the “tech.” The coins that did best back then were fast and cheap (XRP, XLM, Nano). Now, five years later, those same coins are back to bear market lows from 2018 and failed to achieve their all-time highs. They clearly didn’t catch on so the market needed to find something else to attract new suckers. Enter: meme coins, Defi , and jpegs. Now we’ve come full circle, eh? Fool me once….

  19. Maybe. The big turning point will be when big banks start letting you trade on their websites. Chase, Bank of America, Wells Fargo…. Chase has been working on adding crypto trading for awhile now. When it goes live it will be huge.

  20. I see the opportunity for this too but think it is in stables. Starting to see more foreign currency stables like CADC, EURC, etc. along with AMMs like DFX that use LP pools and real time fx feeds to allow for fx without paying money transfer fees or fx spreads.

    While I think the ecosystem is still missing the onboard/offboard options we really need, I feel like they are coming – one example is paytrie in Canada which allows people to buy and sell stablecoins for fiat using etransfers in an entirely non-custodial way (there is no exchange and they send stables right to your wallet).

    We start seeing that replicated in other countries, and I think we will start seeing crypto really start displacing remittance systems with their massive fees and delays.

  21. Sweet. And in the 5 minutes it takes to transfer the coin you send will go down 20%.

  22. Transfers are usually not such a problem for most of the world, it is only the US that is extremely restrictive in international transfers, which is weird lol

    I think DeFi will be a bigger “mainstream” though, with services like AAVE, Kaddex or Uniswap, you can get to have the same ROI on your savings and such as first world citizens and the same loaning rates if you so need, which are very important especially in places where loans are next to impossible to get, I am living in one of those places.

    In the end, for a lot of places maybe the internet decentralized infrastructure will make the mass adoption possible, it really depends.

  23. I mean even most people IN crypto don’t even realise this. For the most part it’s just gambling for many people on the scene.

  24. Remittance with blockchain is the fastest and most economical for sure.

    I remember one time, someone needed to send funds to the USA to purchase a car and contracted me to send the money via western union then I told him not to worry, I have a faster route to get the money across.

    I contacted the receiver and asked if he knew anything about cryptocurrencies or if someone who knows and I would get the money he was expecting across in ten minutes. He vanished for almost an hour but luckily came back saying he found someone and we all went on a skype call. I mean, I and the car buying from my end, then from the US, the guy we are sending money to and the crypto expert.

    Long story short, I sent a couple of millions of naira across to the US for 1 Tron which was less than a dollar at the time. And it was shorter than 10 minutes.

    – It took a couple of minutes to buy usdt via p2p

    – Buying Tron on Binance was instant

    – It took a few seconds to add the receiver’s address to my whitelist and finally sent it.

    They confirmed receiving the funds within two minutes and that was how the car processing began same day.

    This is the power of the blockchain to me.

  25. There are massive options for doing this already. A transaction on Polygon costs you a few cents when it would have cost you hundreds of dollars on Ethereum for example. I think it’s going to be taking more than that quite frankly.

  26. The Russian-Ukraine war demonstrated one of the best use cases of crypto. Ukraine raised millions via Bitcoin, Ethereum, Polkadot, BSC, & other chains from different parts in the world.

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