<p>The most "profitable" way i can think of doing this is:</p>

<p>1) Your cousin buy BTC with AUD in Australia in some local exchange (preferrable) or at LocalBitcoins.com</p>

<p>2) You sell the BTC in Europe using LocalBitcoins (your cousin will give you the password for his LBC account or transfer the BTCs to your account there). They have a 1% fee for sellers, but you could just advertise with a 1% profit, or even more, because prices in LBC are usually higher than at local exchanges. In my country i can easily sell with up to 3% profit.</p>

<ul>
<li>No expensive international bank fees</li>
<li>You receive the money directly in your bank account</li>
</ul>

<p>I don't know if using Stable coins would be a good idea, as you'd probably have to pay some convertion fee to redeem them in Europe.</p>

<p>Anyways, it will mostly depend on the volume you're dealing with and the time you've available.</p>

<p>For example, i don't think it will be easy to sell ~300 BTC in LocalBitcoins.</p>

<p>I think the most sensitive part is selling the coins (it's the part the fees are usually higher). If you're dealing with higher volumes you should probably look for a local OTC desk (exchanges have that and the fees are negotiable).</p>

CC BY-SA 4.0
2019-01-09T12:50:54.360Z
2019-01-09T16:26:14.297Z
2019-01-09T16:26:14.297Z
Bruno
<p>I have read both this questions:</p>

<p><a href="https://bitcoin.stackexchange.com/questions/48608/can-i-easily-use-bitcoin-as-a-inexpensive-way-to-transfer-my-money-into-another">Can I easily use Bitcoin as a inexpensive way to transfer my money into another currency?
</a></p>

<p><a href="https://bitcoin.stackexchange.com/questions/25583/does-it-make-sense-to-use-bitcoin-to-transfer-money-to-yourself-internationally?rq=1">Does it make sense to use BitCoin to transfer money to yourself internationally?</a></p>

<p>Which both do answer yes to the questions, both answered by @Murch and others ofcourse.</p>

<p>Those questions where done a long time ago, and I'm sure things have changed and improved.</p>

<p>The situation is: I have my cousin in Australia, where he has money there. We would like to transfer it to Euro and I thought we could do it using Coinbase.</p>

<p>Could we just exchange the money to ETH or BTC with AUD and then once in Europe transfer it to a Bank here.</p>

<p><strong>Would that be cheaper than using transferWise or throughout bank transaction?</strong> (As far as I can think of, it would be only Coinbase fees on deposit and currency exchange which might differ... Or maybe something else) </p>

<p>We don't actually care about the amount of time that we spend with the transaction. </p>

CC BY-SA 4.0
2018-11-27T11:39:58.437Z
I think you should look into Stable Coins such as USDC or USDT. These are crypto pegged to the US Dollar. BTC and ETH (and hundreds of others) markets are very volatile, it's not outwith the realms of possibility that by the time you are ready to convert your money back to fiat..... it's +10% or -10% what you started with.
user1202278
CC BY-SA 4.0
2018-11-27T17:51:13.113Z
I know about that, it's a loss/profit we would like to look for. If we do it, we would wait for the great moment.
Raül
<currencies><money-transfer>
Using CryptoCurrencies as a transfer method throughout Australia and Europe
Raül
# Using CryptoCurrencies as a transfer method throughout Australia and Europe

(Asked by: username_0 on 2018-11-25)

I have read both this questions:

[Can I easily use Bitcoin as a inexpensive way to transfer my money into another currency?](https://bitcoin.stackexchange.com/questions/48608/can-i-easily-use-bitcoin-as-a-inexpensive-way-to-transfer-my-money-into-another)

[Does it make sense to use BitCoin to transfer money to yourself internationally?](https://bitcoin.stackexchange.com/questions/25583/does-it-make-sense-to-use-bitcoin-to-transfer-money-to-yourself-internationally?rq=1)

Which both do answer yes to the questions, both answered by @Murch and others ofcourse.

Those questions where done a long time ago, and I'm sure things have changed and improved.

The situation is: I have my cousin in Australia, where he has money there. We would like to transfer it to Euro and I thought we could do it using Coinbase.

Could we just exchange the money to ETH or BTC with AUD and then once in Europe transfer it to a Bank here.

**Would that be cheaper than using transferWise or throughout bank transaction?** (As far as I can think of, it would be only Coinbase fees on deposit and currency exchange which might differ... Or maybe something else)

We don't actually care about the amount of time that we spend with the transaction.

**Tags:** currencies, money-transfer

> **Comments:**
> **username_1**: I think you should look into Stable Coins such as USDC or USDT. These are crypto pegged to the US Dollar. BTC and ETH (and hundreds of others) markets are very volatile, it's not outwith the realms of possibility that by the time you are ready to convert your money back to fiat..... it's +10% or -10% what you started with.  
> **username_0**: I know about that, it's a loss/profit we would like to look for. If we do it, we would wait for the great moment.  

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## 1 answers

### Answer by username_2 on 2019-01-09. Score: 2

The most "profitable" way i can think of doing this is:

1) Your cousin buy BTC with AUD in Australia in some local exchange (preferrable) or at LocalBitcoins.com

2) You sell the BTC in Europe using LocalBitcoins (your cousin will give you the password for his LBC account or transfer the BTCs to your account there). They have a 1% fee for sellers, but you could just advertise with a 1% profit, or even more, because prices in LBC are usually higher than at local exchanges. In my country i can easily sell with up to 3% profit.

* No expensive international bank fees
* You receive the money directly in your bank account

I don't know if using Stable coins would be a good idea, as you'd probably have to pay some convertion fee to redeem them in Europe.

Anyways, it will mostly depend on the volume you're dealing with and the time you've available.

For example, i don't think it will be easy to sell ~300 BTC in LocalBitcoins.

I think the most sensitive part is selling the coins (it's the part the fees are usually higher). If you're dealing with higher volumes you should probably look for a local OTC desk (exchanges have that and the fees are negotiable).


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