09-10-2021, 12:12 PM
I live in a developing country and crypto saves me $150-$300 each month (higher than
<!-- SC_OFF --><div class="md"><p>I honestly don't care about HODLING crypto (more power to all of you though). </p> <p>I was forced into it because I was losing so much money from traditional banking. </p> <p>Background: I get most of my income from marketing clients abroad (I manage digital ad campaigns). Paypal/Swift used be the default method to get paid because it was ubiquitous and honestly quite easy to use for clients.</p> <p>But Paypal charged me A LOT.</p> <ul> <li>They take a cut from each payment I get from each client</li> <li>Then they take another cut to convert those funds (ie. USD, AUD) into my local currency</li> <li>Finally they charge me to transfer funds to my bank account </li> <li>There's no interest or staking on any funds I leave and don't transfer to a local account</li> </ul> <p>This happens to each client and for each payment. All these fees and extra charges each month easily add up to $150-$300. </p> <p>For context, this is how much $300 is worth in my country:</p> <ul> <li>I can get <strong>6 weeks' worth of groceries</strong> for my 5-person household</li> <li>It's almost <strong>50% higher</strong> than our minimum wage </li> <li>It's equal to <strong>more than half</strong> what a young professional earns each month in their 1st job</li> <li>I can eat 98 Big Macs</li> </ul> <p>Now, I get paid in crypto (not all, but a big chunk). It's mostly XRP because it's easy to withdraw here and the fees are next to nothing. </p> <p>I basically get a bonus paycheck every month and I love it. </p> <p>I now have less stress because of strict budgets for groceries, can buy actual good quality stuff, and have a bit extra to get a few small gifts every now and then for the people I care about.</p> <p>But it also makes me sad because <strong>there are literal millions of people like me</strong> who rely on payments or remittances from abroad to survive. </p> <p>$300 might be small time for folks in the US, but it's life changing for us.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/toyume"> /u/toyume </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/plbg2z/i_live_in_a_developing_country_and_crypto_saves/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/plbg2z/i_live_in_a_developing_country_and_crypto_saves/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I honestly don't care about HODLING crypto (more power to all of you though). </p> <p>I was forced into it because I was losing so much money from traditional banking. </p> <p>Background: I get most of my income from marketing clients abroad (I manage digital ad campaigns). Paypal/Swift used be the default method to get paid because it was ubiquitous and honestly quite easy to use for clients.</p> <p>But Paypal charged me A LOT.</p> <ul> <li>They take a cut from each payment I get from each client</li> <li>Then they take another cut to convert those funds (ie. USD, AUD) into my local currency</li> <li>Finally they charge me to transfer funds to my bank account </li> <li>There's no interest or staking on any funds I leave and don't transfer to a local account</li> </ul> <p>This happens to each client and for each payment. All these fees and extra charges each month easily add up to $150-$300. </p> <p>For context, this is how much $300 is worth in my country:</p> <ul> <li>I can get <strong>6 weeks' worth of groceries</strong> for my 5-person household</li> <li>It's almost <strong>50% higher</strong> than our minimum wage </li> <li>It's equal to <strong>more than half</strong> what a young professional earns each month in their 1st job</li> <li>I can eat 98 Big Macs</li> </ul> <p>Now, I get paid in crypto (not all, but a big chunk). It's mostly XRP because it's easy to withdraw here and the fees are next to nothing. </p> <p>I basically get a bonus paycheck every month and I love it. </p> <p>I now have less stress because of strict budgets for groceries, can buy actual good quality stuff, and have a bit extra to get a few small gifts every now and then for the people I care about.</p> <p>But it also makes me sad because <strong>there are literal millions of people like me</strong> who rely on payments or remittances from abroad to survive. </p> <p>$300 might be small time for folks in the US, but it's life changing for us.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/toyume"> /u/toyume </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/plbg2z/i_live_in_a_developing_country_and_crypto_saves/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/plbg2z/i_live_in_a_developing_country_and_crypto_saves/">[comments]</a></span>Kind Regards R