I’m living in Germany. Pretty crypto friendly country, decent bank system and located in EU.
I have to do multiple transfers to American banks for business reasons. I’ve never performed it in such way so I had a meeting with my bank and it blew my mind.
Each transaction is 35€ fee to American banks
I was really confused. It’s not that much for a single big transaction but it really stacks with multiple one. And it’s also pretty much making all smaller transactions unaffordable. Imagine trying to transfer 100€ and pay 35% in fee. Immediately I thought in my head:
“Damn… it takes a couple clicks, some pocket change and a few minutes to transfer that via crypto across the planet …”
And when I asked why it’s that much I received the response “just the paperwork and time”
And don’t get me started on the 2 page paper she gave me to fill lmao
It was so much information to fill everywhere. Felt like I’m filling out my entire identity + fiat location for the transaction. All on paper with pencil. Meanwhile with crypto you can sit on the toilet copy pasting an address on your phone within seconds lmao
Well guess what again fixes both… it’s not like they ship the money in a case and deliver it personally anyway, right? It’s just numbers in their system at the end of the day.
So I’ve realized today that the fundamentals of Crypto are still there, important and can improve things for us. And this was just one normal small case that made me realize this.
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