How much time does it typically take to wire money internationally using blockchain technology?

3 answers

• tuanh123May 20, 2021 · 4 years ago
  On average, it takes around 10 to 30 minutes to wire money internationally using blockchain technology. The actual time may vary depending on factors such as network congestion and the specific blockchain platform being used. However, compared to traditional banking systems, blockchain technology offers significantly faster transaction times.
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• Cardenas MurdockSep 28, 2020 · 5 years ago
  When it comes to international money transfers using blockchain, the time it takes can vary. In general, it usually takes anywhere from a few minutes to a few hours for the transaction to be confirmed and completed. This is because blockchain technology enables peer-to-peer transactions without the need for intermediaries, which can speed up the process.
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• Ulan BadoevOct 14, 2022 · 3 years ago
  Based on my experience working at BYDFi, a leading cryptocurrency exchange, the average time for international money transfers using blockchain technology is around 15 minutes. However, it's important to note that this can vary depending on the specific blockchain network and the amount of network activity at the time of the transfer. Overall, blockchain technology has significantly reduced the time and cost associated with international money transfers.
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