Money Transfers back to America _ korea the price of bitcoin

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The best way is using bitcoin. Use a korean exchange like korbit. This site will require you to verify yourself using identification. If you don’t have a phone subscription in korea yet, just email them and there will be other options. Once you recharge your korbit account with some won, you can buy bitcoin. You have to do this with a bank to bank transfer. This is done either from your korean bank’s website or an ATM if you don’t have that set up. Then you can transfer that bitcoin to a US exchange like coinbase. This transfer used to take one hour, but now is only about 30 minutes.The price of bitcoin I recommend being available for those 30 minutes so that you can sell the bitcoin as soon it’s in your coinbase account. This will avoid any mishaps with the price of bitcoin going down. When you sell it, it will be deposited into your US bank account within 4 days. Mine has been taking only 1 day lately however. This process is extremely cheap. It costs me about $5 at most and sometimes I have actually made money because of the different bitcoin values on the exchanges. It’s a much cheaper way than international wire transfers.

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I agree with this. Setting up accounts through coinbase and korbit can be a bit tedious at first, but once you understand how it all works it is extremely easy to remit money and very cheap. A few notes:

What state are you from? Coinbase only operates for US residents if you have residency in one of these states: https://support.Coinbase.Com/customer/portal/articles/1826671-what-countries-us-states-are-supported-for-coinbase-exchange-

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Also, it doesn’t take 4 days anymore- mine has been taking about 2 days once I sell my coins.

I would agree that at most it will cost $5. I don’t even think any of my remittances have cost that much yet. Usually it costs less than $1 or $1-$2.

Some people are a little apprehensive because of bitcoin’s volatility, but the volatility only occurs day-to-day. In other words, the bitcoins you bought are not going to drastically lose value in the 30 minutes it takes to transfer them from your korbit account to your coinbase account. I’ve used bitcoin for remittance many times, and at most, the price will only go up or down a dollar or two.

I believe there may be another thread in here about how to set up bitcoin remittance, or if you have any questions feel free to message me or check out /r/bitcoinbeginners

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