• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan

Bitspark Makes Bitcoin Remittances to Indonesia Possible

NewsBTC by NewsBTC
8 years ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

Back in November, Hong Kong based Cryptocurrency Exchange Bitspark Limited unveiled the first ever end-to-end Bitcoin remittance solution: A much needed service that would allow Hong Kong’s population to gain easy access to the advantages bitcoin offers when compared to conventional remittance services to transfer money to the Philippines. They’re now extending their services from the Philippines to also serve Indonesia.

The numbers behind the demand

According to the Hong Kong Government’s website, more than 165,000 Indonesians and about 169,000 from the Philippines were residing in Hong Kong as of 2012. Large percentages of both are in fact foreign domestic helpers. It was estimated that $5 Billion was sent to Indonesia from migrant workers in 2010 around the world. Indonesian foreign workers in Hong Kong made up nearly 1% of that. There clearly was a large demand for a better remittance service in Hong Kong. Now, thanks to Bitspark those people now have access to a convenient, inexpensive remittance service, without necessarily having any knowledge over how cryptocurrencies work.

Bitcoin’s potential for disruption in the remittance industry

This is a great example of how bitcoin is indeed a great way to transfer money worldwide. Bitspark managed to bring together a service that is highly competitive to its alternatives and also incredibly easy to use. Costumers won’t even have to touch bitcoin since all trades and transfers are handled by Bitspark and their partners. Still, they’ll be able to receive their money same day! All for just a flat fee worth 3.22 USD.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

In their own words:

Remittances and Bitcoin go hand-in-hand due to the intrinsic characteristics which the king pin cryptocurrency brings. Bitcoin provides instant transactions, has no fees and can be sent from anywhere in the world.

And when asked about how bitcoin’s price is affecting their business, Bitspark’s co-founder said:

For our remittance service we don’t care if the price is $1 or $1m. Bitcoin is the means of transmission. We’re getting the message across that bitcoin has real-world applications besides speculation.

The message has been through, remittance services taking advantage of bitcoin’s innovation are not only feasible but might even make conventional remittance a thing of the past. We’ll only have to wait and see if what bitcoin has to offer is utilized by service providers, we could be seeing this industry changing shape really soon.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Images from Reddit.

Tags: bitsparkhong kongindonesiaNewsremittance
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
NewsBTC

NewsBTC

Related Posts

Solana

Solana Can Depreciate Further If It Doesn’t Breach Its Immediate Target

22 mins ago
Ethereum

Ethereum Burning Reaches New High, Is ETH Warming Up For Another Rally?

4 hours ago
Polygon

Polygon Beefs Up Layer 2 Position, Gets The Edge In NFT Transactions Vs. Ethereum

8 hours ago
Best Play-to-Earn Startups to Watch in 2023 Amid the Crypto Market Recession

Best Play-to-Earn Startups to Watch in 2023 Amid the Crypto Market Recession

9 hours ago
Ethereum Bear

Ethereum Bearish Signal: Profit-Taking Hits Highest Level Since Feb 2021

9 hours ago
Cardano ADA price

Cardano Price Faces Make-or-Break Moment, Can Djed Propel ADA?

11 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

ApeCoin (APE), Dogecoin (DOGE), and Snowfall Protocol (SNW) – Three Great Coins for NFT Lovers

February 3, 2023

Turn Playtime into Paytime with RankerDAO’s Gaming Crypto Platform

February 3, 2023

Fetch.ai (FET) up 200% in 30 days – Orbeon Protocol (ORBN) Skyrockets by 1400% in Presale

February 3, 2023

Dacxi.com rebrands to Wealth99

February 2, 2023

What Is the Latest in Crypto? Terra Classic Community Approves Crucial Proposal to Resume Terra CLasic (LUNC) Burns, Fetch.Ai (FET) Ranks Among the Top AI Altcoins for Investors In 2023, Snowfall DEX Attracts More Investors to Snowfall Protocol (SNW) with A Week to Official Launch

February 2, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.