Remittio offers universal off ramps for BitShares and Steemit

[Murderistic]

We have been busy at Remittio, refining our message and figuring our the best ways to serve our customers needs.  We are now focusing on consumers by moving to zero fees (in the next week or so), and focusing on merchants wishing to settle their digital currency with a push of the button.

[Brekyrself]

No one here has used this?

[chryspano]

Remittio.com and https://www.loaddebitcard.com/ are taking forever to load pages, almost impossible to navigate at the moment.

This happens to me too

[Brekyrself]

Has anyone used this service yet?  Remittio.com and https://www.loaddebitcard.com/ are taking forever to load pages, almost impossible to navigate at the moment.

[Stan]

Any time-frame of when the blueprints of the wall will be revealed?

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 ▽   ....?

Yes.  We share your frustration at the delays in threading this needle. 
As Hans Solo often said, "It's not my fault!".

[nomoreheroes7]

Any time-frame of when the blueprints of the wall will be revealed?

  |
  |
  |
 ▽   ....?

[Brekyrself]

Any time-frame of when the blueprints of the wall will be revealed?

[yvv]

There is no way remitto or other crypto startup can compete with traditional services on remittance market, because there are plenty of them and there are very good ones. Remitto makes sense only as off-ramp from crypto to fiat, and  according to the OP title, topic starter realizes this. He just did not bother to edit copypasted text from loaddebitcard.com before this announcement.

There are highly probable alternative universes in which such a "no way" assumption may turn out to have been presumptuous.

Next you will be telling us that there is no way that Donald Trump can be elected president.

I am not sure what has Donald Trump to do with this, but to outcompete "other" remittance services you need to make transfers dirt cheap, instant and world wide. This is not assumption or presumption, this is reality. Good luck with that.

[Stan]

There is no way remitto or other crypto startup can compete with traditional services on remittance market, because there are plenty of them and there are very good ones. Remitto makes sense only as off-ramp from crypto to fiat, and  according to the OP title, topic starter realizes this. He just did not bother to edit copypasted text from loaddebitcard.com before this announcement.

There are highly probable alternative universes in which such a "no way" assumption may turn out to have been presumptuous.

Next you will be telling us that there is no way that Donald Trump can be elected president.

[Stan]

And a wall one brick high won't keep out a single wascally wabbit.
But add another brick or two in the wall and, who knows?

This doesn't make any sense to me. You're trying to keep people out of your service?

<heavy sigh>

You are evaluating the potential of a single brick in the wall without considering the yet to be revealed ultimate functionality of the wall.

You need to think BIGGER, Pinky.

[yvv]

There is no way remitto or other crypto startup can compete with traditional services on remittance market, because there are plenty of them and there are very good ones. Remitto makes sense only as off-ramp from crypto to fiat, and  according to the OP title, topic starter realizes this. He just did not bother to edit copypasted text from loaddebitcard.com before this announcement.

[blahblah7up]

Yes, I know. But you selectively choose the lowest transfer fee from transwire for your example fully  ignoring the rest 1% 1,5% and 2,5% of their fees.

This is presumptuous. No, I simply chose the remittance conversion I personally use most frequently.

In addition to the general criticisms levied against this new remittance offering I am also personally disappointed because I would have used their service if the conditions were favorable.

[chryspano]

Also I don't think you are saying the whole truth about transwire fees, in most curencies they are much higher than what you claim
https://transferwise.com/pricing#?from=USD&to=EUR

I didn't make a claim about "most currencies". I gave a specific example.

Yes, I know. But you selectively choose the lowest transfer fee from transwire for your example fully  ignoring the rest 1% 1,5% and 2,5% of their fees.

How much btc and bts will the recipient get if you sent him 1 btc and 1.000 bts with transferwise?

This is funny, but I am talking about the remittance market.  Here is a quote from the Remittio webpage:

"Created for the unbanked and underbanked who need an affordable and reliable banking alternative"

How many migrant workers do you think are being paid in BTC?  How many are being paid in BTS? If a peruvian house-cleaner in Rome is being paid in BTC or BTS then this service is still just an average service on a cost-per-remittance basis.

As it is, potential remittance customers must be incentivized not just to use your service, but to enter crypto altogether, and that also has an exchange cost associated with it - making the whole process even more expensive. If you can offer remittances at prices of which crypto is capable - like 10 cents per transfer or something - then remittance customers will flood into crypto, because it is that much cheaper. Otherwise remittance customers will stay in fiat even if your remittance product is slightly more competitive, because there is also a time/hassle-cost associated with the conversion to crypto.

Migrant workers might not care about crypto but for anyone else who does care, transferwise offers no service, remittio does!

[blahblah7up]

Also I don't think you are saying the whole truth about transwire fees, in most curencies they are much higher than what you claim
https://transferwise.com/pricing#?from=USD&to=EUR

I didn't make a claim about "most currencies". I gave a specific example. Using the link you provided, a EUR to USD transfer of 1000 EUR is charged 0.5% and that's it.  No other cost. But I appreciate that you pointed out that it is not the same for all the different conversions.

How much btc and bts will the recipient get if you sent him 1 btc and 1.000 bts with transferwise?

This is funny, but I am talking about the remittance market.  Here is a quote from the Remittio webpage:

"Created for the unbanked and underbanked who need an affordable and reliable banking alternative"

How many migrant workers do you think are being paid in BTC?  How many are being paid in BTS? If a peruvian house-cleaner in Rome is being paid in BTC or BTS then this service is still just an average service on a cost-per-remittance basis.

As it is, potential remittance customers must be incentivized not just to use your service, but to enter crypto altogether, and that also has an exchange cost associated with it - making the whole process even more expensive. If you can offer remittances at prices of which crypto is capable - like 10 cents per transfer or something - then remittance customers will flood into crypto, because it is that much cheaper. Otherwise remittance customers will stay in fiat even if your remittance product is slightly more competitive, because there is also a time/hassle-cost associated with the conversion to crypto.

And a wall one brick high won't keep out a single wascally wabbit.
But add another brick or two in the wall and, who knows?

This doesn't make any sense to me. You're trying to keep people out of your service?

[Stan]

Does this all mean that I can buy BTC at coinbase and then withdraw them to my friend's account in Europe for $10 fee? Is this correct?

You can buy BTC or any other supported coin anywhere you want and keep them in any wallet until you want to send them to a debit card or bank account via Remittio.  The conversion to Euros or Dollars occurs automagically enroute via ShapeShift (and/or eventually BlockTrades).  Costs about one ninth of what it takes to wire something via a bank without all the other delays they slap onto the process.  Shaves off several days to a week depending on which bank you have been using.

My question is can I cash out from BTC to somebody's else bank account? Exchanges do not allow this.

You can use BTC to pay any account for which you have the correct deposit information.

[Stan]

Ridiculous! Even transferwise does better: They use the mid-market exchange rate (meaning no additional percentage fee slapped on) and have a low flat fee.  Right now I can send 1k Euros to the US and the recipient gets 1057.86 USD.  The flat fee is already included and was $4.98.

You're charging $10 a pop to use the service, then a 1% fee on top of that.  Who knows what exchange rate.  That's 4 times as expensive for the example given above.

The remittance market will not flock to Remittio for remittance.

Edit: 1% Fee doesn't apply to SEPA and SWIFT Transfers.  So 4 times as expensive is reduced to 2 times as expensive.

And a wall one brick high won't keep out a single wascally wabbit.
But add another brick or two in the wall and, who knows?

[chryspano]

Ridiculous! Even transferwise does better: They use the mid-market exchange rate (meaning no additional percentage fee slapped on) and have a low flat fee.  Right now I can send 1k Euros to the US and the recipient gets 1057.86 USD.  The flat fee is already included and was $4.98.

You're charging $10 a pop to use the service, then a 1% fee on top of that.  Who knows what exchange rate.  That's 4 times as expensive for the example given above.

The remittance market will not flock to Remittio for remittance.

Edit: 1% Fee doesn't apply to SEPA and SWIFT Transfers.  So 4 times as expensive is reduced to 2 times as expensive.

How much btc and bts will the recipient get if you sent him 1 btc and 1.000 bts with transferwise?

Also I don't think you are saying the whole truth about transwire fees, in most curencies they are much higher than what you claim
https://transferwise.com/pricing#?from=USD&to=EUR

[blahblah7up]

Ridiculous! Even transferwise does better: They use the mid-market exchange rate (meaning no additional percentage fee slapped on) and have a low flat fee.  Right now I can send 1k Euros to the US and the recipient gets 1057.86 USD.  The flat fee is already included and was $4.98.

You're charging $10 a pop to use the service, then a 1% fee on top of that.  Who knows what exchange rate.  That's 4 times as expensive for the example given above.

The remittance market will not flock to Remittio for remittance.

Edit: 1% Fee doesn't apply to SEPA and SWIFT Transfers.  So 4 times as expensive is reduced to 2 times as expensive.

[yvv]

Does this all mean that I can buy BTC at coinbase and then withdraw them to my friend's account in Europe for $10 fee? Is this correct?

You can buy BTC or any other supported coin anywhere you want and keep them in any wallet until you want to send them to a debit card or bank account via Remittio.  The conversion to Euros or Dollars occurs automagically enroute via ShapeShift (and/or eventually BlockTrades).  Costs about one ninth of what it takes to wire something via a bank without all the other delays they slap onto the process.  Shaves off several days to a week depending on which bank you have been using.

My question is can I cash out from BTC to somebody's else bank account? Exchanges do not allow this.

[Stan]

Does this all mean that I can buy BTC at coinbase and then withdraw them to my friend's account in Europe for $10 fee? Is this correct?

You can buy BTC or any other supported coin anywhere you want and keep them in any wallet until you want to send them to a debit card or bank account via Remittio.  The conversion to Euros or Dollars occurs automagically enroute via ShapeShift (and/or eventually BlockTrades).  Costs about one ninth of what it takes to wire something via a bank without all the other delays they slap onto the process.  Shaves off several days to a week depending on which bank you have been using.

[Stan]

and bitshares & steem are not even listed on shapeshift any more. this is basically a non-news

Remittio is different from other services like Shapeshift because:

• You can load a debit card with your crypto with USD and EURO...
• You can SEPA/SWIFT straight from 44 cryptos to 22 FIAT currencies to banks in 180 countries...
• You will be able get a debit card issued directly from our mobile wallet q1 2017
• Our mobile wallet will allow the debit loads and SEPA/SWIFT right from the application itself, no visiting the website.
• Cut out several steps needed to convert crypto to fiat, as well as eliminate fees for wire xfers
• You can convert BTS and Steem to CASH
• We won an Angel's Choice award last year at Web Summit for potential to disrupt.
• We want to help people by eliminating barriers for crypto (and bitshares smart coin/asset adoption and usage).

BitShares and Steemit are already integrated.  Shapeshift is just updating their website and inadvertently reverted to a previous list.  They are fixing it.

I appreciate your loyal support and positive outlook.

[Stan]

so you either copied from  https://www.loaddebitcard.com/fees.php or you're just another interface for them?

@Stan What's the deal with Remittio and loaddebitcard.com?  The websites are exactly the same?

so here's what I found out after some googlign/asking on telegram

1. no new service, they bought loaddebitcard and rebranded
2. no bitshares/steem ramp at the moment, since shapeshift does not have them listed.
3. Blockpay refused to work with them
4. Michael Taggart (and probably Mark Lyford) are involved.

someone correct me if I'm wrong, but this does not look promising at all.

We needed a capability like this so we bought loaddebit, rebranded, and plan to build more stuff on it.
This is not claiming to be earthshaking news.

As I said in my Guy Fawkes Day post comments:  "All in all it's just another brick in the wall."
I'll leave it to the usual suspects to try to tear down that wall.
I'm  going back to work on more bricks.

[fav]

so you either copied from  https://www.loaddebitcard.com/fees.php or you're just another interface for them?

@Stan What's the deal with Remittio and loaddebitcard.com?  The websites are exactly the same?

so here's what I found out after some googlign/asking on telegram

1. no new service, they bought loaddebitcard and rebranded
2. no bitshares/steem ramp at the moment, since shapeshift does not have them listed.
3. Blockpay refused to work with them
4. Michael Taggart (and probably Mark Lyford) are involved.

someone correct me if I'm wrong, but this does not look promising at all.

[Brekyrself]

so you either copied from  https://www.loaddebitcard.com/fees.php or you're just another interface for them?

@Stan What's the deal with Remittio and loaddebitcard.com?  The websites are exactly the same?

[fav]

and bitshares & steem are not even listed on shapeshift any more. this is basically a non-news

[yvv]

Nice find

[fav]

so you either copied from  https://www.loaddebitcard.com/fees.php or you're just another interface for them?

[yvv]

Does this all mean that I can buy BTC at coinbase and then withdraw them to my friend's account in Europe for $10 fee? Is this correct?

[Stan]

Here's our latest nifty spin-off:

Remittio Offers Universal Off Ramps for BitShares and Steemit