Bitcoin vs. traditional transfers to India

[Hridaan]

Bitcoin is the fastest-growing cryptocurrency in overseas markets. How can Bitcoin change how people in India receive money abroad? Could it replace banks or businesses like Western Union in terms of speed and cost for these transfers?

[Reema]

Yes, Bitcoin can be a beneficial option for a faster and potentially cheaper international transfer to India, and it can bypass the traditional banks and Western Union.

The Indian government still does not regulate Bitcoin because of its volatility and uncertainty in this market. So for now it's still not possible to fully replace the banks' system.