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Bitcoin reaches Dominican consumers

Unlike most Bitcoin teller machines in operation right now, BitRD wants to improve cash withdrawals

Dominican Republic consumers are being targeting by the company that promotes the digital currency, Bitcoin, noting that it can one of the many areas where make a significant impact over the coming years , reports livebitcoinnews.com.

After all, it is a far cheaper solution compared to other traditional solutions, the outlet said.

Livebitcoinnews acknowledges that remittances play an integral part in the Caribbean country’s economy, for which “sending money to the country can be quite expensive, as one has to rely on third-party service providers. With Bitcoin, it is possible to circumvent these decentralized entities and their high fees. No one likes to pay between 5 and 15% per remittance transfer, even if it is the only option to send money overseas.”

“Unfortunately, the outlet adds, “\spending Bitcoin in the Dominican Republic is still quite difficult. Very few retailers accept Bitcoin payments directly and there are no real third-party service providers to take advantage of. For example, a Bitcoin-to-wire transfer service could go a long way in the country, despite a large portion of the population remaining unbanked as of 2016″ says livebitcoinnews.com.

Source: DT

Jan 20, 2017

Category: DR News |

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Last updated March 24, 2017 at 2:14 PM
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