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Blockchain Transfers Are 388 Times Faster Than Mainstream Remittance Services

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  • Alex Dovbnya
    📊‍ Infographics

    ⛓️🚀Fast, secure and cheap: the Blockchain takeover of the $700 bln remittance industry seems imminent

Blockchain Transfers Are 388 Times Faster Than Mainstream Remittance Services
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Contents

Blockdata recently published a study that shows how Blockchain is disrupting the global remittance industry. Cryptocurrencies that rely on Blockchain greatly outperform traditional services when it comes to the time of remittance settlement.

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The fastest cryptocurrencies

While many critics scold Bitcoin because of its scalability issues, an average transaction usually takes up to one hour to be processed. For comparison, Western Union, MoneyGram and other companies that represent the $700 bln industry would make you wait up to five days.

Ripple’s XRP, which is now being widely used for cross-border payments, offers even faster speed of 1,500 TPS.

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Blockchain remittance companies

The aforementioned study also mentioned a lot of Blockchain-startups (SureRemit, InstaRem, etc.) that are focusing on making remittances faster and cheaper. Notably, most of these companies utilize existing Blockchain technologies, such as RippleNet and Stellar. There are also some exceptions: Wyre, for instance, uses its own technology for cross-border payments.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bexplus Exchange Platform Launches $50,000 Giveaway

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    Bexplus, a Hong Kong-based exchange with 100x leverage, has invited crypto traders to take part in its giveaway. Rewards for all registrants, even with zero deposit.

Bexplus Exchange Platform Launches $ 50000 Giveaway
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

A new promotional campaign is set to occur but is limited to 500 registrants. It seems to be reasonable, yet rich beginner's reward pack: $10 registration bonus (no deposit necessary), $100 deposit bonus, a 10% discount for all the commission fees, and 10 free Bitcoins (BTC) for anyone who practices trading via the built-in trading simulator.

Bexplus Giveaway Registration Manual

Everyone who creates an account on the Bexplus exchange via special promo link will be rewarded with a 10% discount on transactional fees. After registering on the exchange, the trader needs to deposit some BTC onto his/her Bexplus account address.

In order to be eligible to receive a $100 deposit bonus, the deposit amount needs to be at least 0.008 BTC. Those who deposit more than 0.01 BTC will receive a 100% bonus on futures trading. The deposit bonus cannot be withdrawn, but all profits made with the bonus can be withdrawn. 

With the deposit, the user can immediately start trading with the rewards, $100 or 100% deposit bonus. In order to participate in this campaign, the user needs to contact support via online chat or by e-mail. Chatbox can be found in the lower right corner.

Bexplus, Multi-Currency Exchange with 100x Leverage

Bexplus offers perpetual future contracts on all major crypto assets: Bitcoin, Ethereum, Litecoin, XRP, and EOS. Launched in 2017, the service charges no funding fee (margin amount held by the system for paying the next funding). It also works with no spread (difference between buying and selling price), offers an on-board trading simulator, and 24/7 customer support.

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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