I noticed an interesting topic in the crypto community — more and more people are interested in how to transfer money via crypto instead of traditional banks. And honestly, it makes sense to understand why this is becoming more popular.

The thing is, international transfers through banks are just a nightmare. Fees eat up 2-4% of the amount, then intermediate banks take their cut, plus the margin on currency exchange. If you send 1,000 pounds from London to the US, the bank might take 10-15 pounds just in fees, and the money takes several business days. Fintech platforms like Wise helped a bit, but not everyone has access to them.

But crypto solves this problem differently. One user shared on Reddit an experience — sent funds via an ETH address and received USDC. The fee was only $0.008869, and the transfer time was two seconds. Try doing that through Western Union — they charge $10-12 for every $200, plus another 1-2% for the exchange rate. That’s why people are looking for ways to transfer money through crypto.

There are even specific coins for this. Stellar (XLM) proved to be an excellent option for cheap remittances home. When traditional channels require 3-5% fees and 2-3 days of waiting, XLM handles it almost instantly for pennies. Even considering fiat on- and off-ramps, the total cost is lower.

The technical process isn’t complicated. You need a wallet on a reliable platform, then buy crypto, get the recipient’s address (this is critical — mistakes are irreversible), enter the amount, and send. Within minutes, the money is in place. But there are nuances — network fees (gas) vary, so sometimes you need to pay extra for a fast transaction.

Crypto is especially helpful in regions where the banking system is weak or completely inaccessible. In Venezuela, people receive BTC and USDT to avoid hyperinflation. In Ukraine and Afghanistan, during crises, banks shut down, but crypto keeps working. El Salvador even officially adopted Bitcoin as a payment method in 2021.

For migrants, it’s also a solution. Those working in the UAE or Singapore and sending money to family in India or the Philippines usually lose up to 10% on fees. On the Solana blockchain, for example, the average fee is about $0.00025, with confirmation in five seconds.

If you decide how to transfer money via crypto, remember about security. Always double-check addresses, use trusted platforms, enable two-factor authentication. For stability, it’s better to use stablecoins — USDT or USDC — so you don’t worry about volatility during the transaction.

As for taxes — it depends on the country. In the US, the IRS considers crypto property, so there may be capital gains tax. In the UK, HMRC taxes if profits exceed a certain limit. But in Singapore and the UAE, crypto taxes are simpler. The main thing is to keep records of all transactions and check local legislation.

The advantages are obvious: low fees, speed, no intermediaries, the ability to send money even without documents. Blockchain removes the need for intermediate banks, so money goes directly from sender to receiver.

In general, if you regularly need to transfer money via crypto, it’s truly more efficient than traditional methods. The main thing is to understand the process, choose the right coin and platform, and then everything works like clockwork.