Because the advantages that cryptocurrency users have when it comes to international trade and transporting money across borders are so readily obvious, there is no need for the community to engage in any in-depth discussion regarding these matters. However, the majority of individuals are still unaware of the benefits that may be gained through utilizing platforms like as TRON, NANO, Ripple, and other networks that are analogous and have exceptionally low transaction costs and high transaction speeds.
Even if you and the person receiving the money live in the same country, you still have a number of options available to you for sending money to a friend or relative who lives in a different part of the country.
When you need to send a little amount of money to someone within your country or even outside of it, using a financial service like Western Union is a convenient option. On the other hand, the transaction may not be validated and completed until after a number of working days have passed. The costs are extremely high. You, as the sender, may be subject to a fee of up to $30 for each individual transaction made to Bank of America in the United States. The sender may be responsible for up to sixteen dollars in fees.
When you send money through a wire transfer, it could take the receiving bank up to seven business days to process the transaction. The fees can reach 5%, whereas the average in the banking industry is closer to 4%. It seems a little excessive to have to pay $4 for each transaction of $100. However, a large number of people do not have any other options and are forced to pay more than they should.
There are a lot of online payment systems that have failed to live up to their promises of making things safer, more convenient, and faster while keeping prices as low as possible. PayPal is one of the most widely used systems in the United States. Even if you send money to individuals who are not associated with businesses or other commercial services, it is rumored to still charge you some fees. This practice has earned it a bad reputation. After being incorrectly charged a fee, you may contact customer support for assistance, but doing so will cause a significant amount of hassle.
TRON, on the other hand, has very low fees and permits clients to send any amount of currency while charging no more than 1% of the total transaction. One could say the same thing about XLM. Ripple charges a one-time fee of 0.00001 XRP for every 10 drops, which is equivalent to approximately 3.53 x 10-6 US Dollars.