So I have started freelancing and the team has agreed to pay me 1500 USD. I was transferred the amount via wire inward remittance. Now what follows is:The bank deducted 30 dollars i.e 2% as inward remittance fee.3% of the amount has to go to government. That’s the law.An additional 18% of the tax will be levied on the above 5%If I don’t confirm the inward remittance within 3 days, the bank will revert back the transaction.Once I confirm the inward remittance, it will take anywhere between 2-3 working days to credit money to my account.The conversion rate, from USD to my native currency, is decided by the bank itself. The conversion rate that I get is almost 6% less than the market value.Now compare all these things to any cryptocurrency. Use crypto. Cryptocurrency is provably programmable money.
Submitted May 03, 2020 at 10:47AM
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