Cryptocurrency used in Remittances now at 16%.
In 2017 there was roughly $150 billion dollars sent out from the U.S. to other countries.
In most cases it is money being sent back to families by people that work here.
A new report by research company Clovr, revealed that there has been an uptick in cryptocurreny being used for remittances.
According to the latest data, crypto makes up roughly 16% of all remittances.
(Source: https://www.clovr.com/page/sending-money-back-home)
Some specifics about the study:
The study surveyed the responses of 707 people that have recently sent remittances.
It sought to delve into their remittance habits, uncovering the destination of transfers, the purpose of the transfers as well as the mediums (including cryptocurrency) by which the money was sent.
The study found that the top 10 countries receiving the most remittances from the U.S. were:
Mexico, China, India, Philippines, Vietnam, Guatemala, Nigeria, El Salvador, Dominican Republic and Honduras.
The vast majority of the remittances were sent back to family members.
More about the findings can be found here:
https://www.clovr.com/page/sending-money-back-home
Stay informed my friends.
