121–130 of 256 posts
Just straight gross cash.
I am surprised that there is no mention of Bitcoin. My current project is also in another country (US) and I live in Europe. I am getting paid in BTC, and I pay even less then via Transferwise. It is cheaper because the company already owns Bitcoin, so it doesn't need to buy them. What I do is: - Getting BTC transferred to a wallet at an exchange I trust - Sell the BTC ones I receive them and put the money on my bank…
I believe fiat withdrawal fees / trading are a lot higher than transferwise fee, at least in my case. Which exchange do you use if I may ask?
I am not tight to them, but for me it's the less concerning option.
I am surprised that there is no mention of Bitcoin. My current project is also in another country (US) and I live in Europe. I am getting paid in BTC, and I pay even less then via Transferwise. It is cheaper because the company already owns Bitcoin, so it doesn't need to buy them. What I do is: - Getting BTC transferred to a wallet at an exchange I trust - Sell the BTC ones I receive them and put the money on my bank…
This has always been more of the dream of BTC than the reality. Transferring BTC around can cost 0.1 - 0.4% which becomes quite expensive. The cost of a wire transfer from Canada to the various countries I make them is a flat $36 - though receiving fees can be as high as $15 (CAD). That means that BTC only makes sense if you're transferring less than $5100. But moreover, BTC back to fiat is significantly more expensi…
Of course, you already need to own Bitcoin. If not, the fees are slightly more expensive, but still cheaper then using "normal Banks".
I am surprised that there is no mention of Bitcoin. My current project is also in another country (US) and I live in Europe. I am getting paid in BTC, and I pay even less then via Transferwise. It is cheaper because the company already owns Bitcoin, so it doesn't need to buy them. What I do is: - Getting BTC transferred to a wallet at an exchange I trust - Sell the BTC ones I receive them and put the money on my bank…
> Getting BTC transferred to a wallet at an exchange I trust This has never been a good idea, unless you’ve been immediately selling upon receipt.
Unless you are getting international transfers for the purpose of buying drugs or speculating/trading I completely disagree with this.
Have taken payment for consulting in BTC a few times and would always get it into a local exchange then sell/transfer out within an hour, it's pretty painless when you are all setup with the exchange, fee's on my end come to 0.8% total amount, not capped.
So $80 for a $10k payment in BTC, that's not including the senders fees, exchange movements and time spent. Looking at transferwise now they will do the same $10K from USD to AUD for $80.60
I am surprised that there is no mention of Bitcoin. My current project is also in another country (US) and I live in Europe. I am getting paid in BTC, and I pay even less then via Transferwise. It is cheaper because the company already owns Bitcoin, so it doesn't need to buy them. What I do is: - Getting BTC transferred to a wallet at an exchange I trust - Sell the BTC ones I receive them and put the money on my bank…
Sorry, i am unconviced. Could you show the numbers including all costs and exposure times to fx risks from your client's BTC account to your landlords bank account and compare those to using e.g. Transferwise?
FYI American worker: When an international employee makes $40 per hour and they perform two weeks of work -- their US employer sends them 80 * 40 = $3200. No Federal Income Tax Withholding, no Social Security and Medicare deductions, no Federal Unemployment (FUTA) Tax, no State withholdings, nothing. Employers love it. No drama. Just straight gross cash.
To be fair, I’m not 100% sure how this works in the US, in PL where I’m from and probably in all of the EU countries if you are on a job contract then the employer pays the taxes and social insurance for you. If you are self-employed / freelance you have a business registered in your name and it’s your responsibility.
Either way, I don’t see how the taxman’s cut disappears. Also lot of countries have higher taxes + social insurance than the US.
If you really want to make a case, you can say that the contractors from a low-cost-of-living countries may undercut American workers (but then, if they work remotely I think they mostly undercut the office jobs, not “workers”) because they ask less money for the same.
I am surprised that there is no mention of Bitcoin. My current project is also in another country (US) and I live in Europe. I am getting paid in BTC, and I pay even less then via Transferwise. It is cheaper because the company already owns Bitcoin, so it doesn't need to buy them. What I do is: - Getting BTC transferred to a wallet at an exchange I trust - Sell the BTC ones I receive them and put the money on my bank…
Revolut is the cheapest one and I can not understand the 50 euros charge as the exchange rate is super low.
Just checked my Revolt and 1000 USF to EUR is 1090,84, in google the exchange rate would bring me 1091,20. I don’t get your 50 euros difference.
Earlier quoted context omitted.
The costs for transactions are not fixed to a percentage of the total amount sent but on the size of the transaction and the network congestion. Moving one billion USD worth of BTC can cost as little as 0.065 BTC or ~440 USD. https://www.independent.co.uk/life-style/gadgets-and-tech/ne... https://www.blockchain.com/btc/tx/4410c8d14ff9f87ceeed1d65cb...
> Moving one billion USD worth of BTC can cost as little as 0.065 BTC or ~440 USD Which is ridiculous, given anyone (legally) moving a billion dollars pays zero for an instantaneous Fedwire.
Do you happen to have a source? PS: seems not to be available to retail customers?