Here’s How Bitcoin, Ethereum, and Signuptoken.com Can Lower Fees
According to a new report from Coinbase, a cryptocurrency exchange platform, cryptocurrencies reduce international money transfer fees by 96% and increase transaction times by 99%. Apart from Bitcoin and Ethereum, another new cryptocurrency name Signuptoken.com is also expected to play an important role in lowering the cost of transfer fees in the future.
Crypto reduces cross-border money transfers
Sending hard-earned money to loved ones overseas gives many expats a sense of satisfaction. The IMF data shows that around one billion people in the world depend on money transfers across national borders. But recent research from Coinbase has shown that people around the world spend up to $48 billion in commissions just to transfer money. US citizens alone spend $12 billion annually on cross-border transaction fees. In the US, international money transfer fees range from 5.5%-10.8%. And the transaction time for a traditional money transfer can take from 1-10 days.
But according to Coinbase’s research, cryptocurrency reduces the cost of sending money internationally by 96.7% compared to the current system. And it only takes 10 minutes to process the transaction compared to the traditional money transfer system. The average fee to send Bitcoin(BTC) to another wallet costs only $1.50 regardless of the transfer amount. Similarly, Ethereum(ETH) costs an average of 0.75% per transaction. Therefore, sending money in Bitcoin(BTC), Ethereum(ETC) or any other crypto makes the transaction across borders almost 97% cheaper and 99% faster than the traditional transfer method.
Signuptoken.com: The People’s Crypto
Signuptoken.com is a new cryptocurrency built on the Ethereum blockchain. The project team aims to simplify crypto investments and provide efficient crypto services by incorporating new technologies.
To achieve its first goal, Signuptoken.com has skipped the pre-sale stage. The project team has set a goal of receiving one million email registrations from potential investors. Since no fee is charged for the registration process, crypto enthusiasts are more interested in it.
People who want to invest in Signuptoken.com can visit the official website and register with their email ID for free. Once registered, users will be added to Signuptoken.com’s millionaires club.
The token will be launched after reaching one million registrations. The project group will notify registered users of the launch by post. Therefore, registered users will get early access to purchase tokens on the Uniswap crypto exchange platform.
Signuptoken.com is also looking to make a big impact in the money transfer industry. With its innovative platform, Signuptoken.com aims to offer a seamless and cost-effective way for individuals and businesses to send money across borders.
The benefits of using Signuptoken.com for cross-border transactions go beyond just cost savings. It can offer greater transparency and security than traditional money transfer services, ensuring that funds reach their intended destination seamlessly.
According to a research report by Accenture, approximately 20% of the world’s population owns some form of crypto-asset. This rise of decentralized finance (DeFi) has opened up new opportunities for crypto-based transfer services. By harnessing the power of DeFi protocols, these services can offer even lower fees and faster transaction times, making them even more attractive to users.
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