I like and use transferwise, but your comparison with crypto could be more detailed? Volatility? Surely depends on what crypto and how fast you're converting to fiat, how much and with what exchange etc.
The whole operation here with Transferwise still takes days. Sorry, so the ideal is to leave banking behind and go full crypto, as in the end of the day, organising an online payment with online banking is still a whole process that could be skipped.
I've used coinbase in the past when market was low, and sent it to other bank oversees after bitcoin rose. Still a shame coinbase fees are so high. Hurry up competition (and Binance euros to crypto etc.)
@ade-greenwise, thank you for your comment.
My point about crypto is, someone sends you a payment with Steem when it's at $1.25 from the USA. You wake up on another continent, 12 hours later the payment was made, and your Steem is at $0.80.
Same for any other crypto, unless you are online with the person, he sends you BTC and immediately you resell them, you get only the fees like what you said.
Unless there is a crypto that is stable enough to be at the same value 24 hours later, it's still a pain to be paid this way.
The whole operation with TransferWise takes 2 days and I have all my money with no worries.
Just HODL it then!. ..Besides, if i was organising a crypto payment with someone else, I'd keep them on Chat messenger or something and do it while we were chatting. Or just send it to them via public address! I've put my Nano address on my https://adespress.blog] for tips for example.
Well, staying awake late at night to receive a crypto payment is not ideal. I understand what you say because I want crypto to be what it's supposed to be.
Thank you @ade-greenwise for encouraging me to do some calculation with Coinbase.
Their fee is 1.49% for USD and EURO. So,if the value of your crypto is identical when you receive it, you pay $4,17 in fee for $280 with Coinbase and $4.76 with TransferWise. If the amount is $2,000, the fee is $29.80 for Coinbase and $21.81 for TransferWise.
Still more expensive with Coinbase and if the value of your crypto goes down in the mean time, you lose even more. And Coinbase is not available in all countries.
Now, it's why I love TransferWise so much after trying it, and in my opinion transacting in crypto is only good if you want to keep crypto and speculate.
Thank-you @gmichelbkk this is a great reply. And thanks for providing those details I wasn't sure precisely. It is something to consider.
All respect to TransferWise, it's a great site, and have also gone up against the banks. I hope folks use your referral link too, for filling in these gaps.
Yes, they've got some real competition coming (but slowly) from crypto. This article for instance. The market could look quite different this time next year.
BTW: It's cheaper to use Bitcoin for sending money overseas than Transferwise, if you're able to buy it without going through Coinbase. I'm sure there are ways to do this. (Or possibly by depositing the money into your EUR Coinbase account.. but which also takes days.) This still makes Bitcoin the cheapest solution.! You don't need to be online at the same time. All you need is the public address. Or you could email them from in Coinbase, and they can sign up at their end.
Thanks to you for your participation @ade-greenwise because it's how we want discussions on Steemit.
Agreed!. I just updated my last post. Crypto still beats TransferWise in my book, if you already own a large amount of bitcoin, by having made a bank desposit first.
But, I don't like Paypal !
Also , you can open a borderless account with TransferWise, which is another option for regular senders.
I just wish @ade-greenwise that crypto would be integrated with TransferWise.