Miguelcuneta at 08:46, 20 October 2014

2014-10-20T08:46:18Z

← Older revision		Revision as of 08:46, 20 October 2014
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	==Rebittance Services==		==Rebittance Services==

	Rebittance does away with all this by only having a single entity in between the sender and the receiver. Although Bitcoin is inherently designed to be completely peer-to-peer, Rebittance companies are seen as a necessity due to lack of infrastructure at this stage of its development. These organizations purchase bitcoins from senders all over the world and then exchange and remit the local currency to the nominated recipient. Bitcoin remittance companies have reduced the cost of sending money internationally from a global average of about 8% to anywhere from 3% to 1%.		Rebittance does away with all this by only having a single entity in between the sender and the receiver. Although Bitcoin is inherently designed to be completely peer-to-peer, Rebittance companies are seen as a necessity due to lack of infrastructure at this stage of its development<ref>[http://thenextweb.com/insider/2014/09/28/rise-rebittance-reinventing-money-transfers-philippines-bitcoin/ The Next Web: The Rise of Rebittance]</ref>. These organizations purchase bitcoins from senders all over the world and then exchange and remit the local currency to the nominated recipient. Bitcoin remittance companies have reduced the cost of sending money internationally from a global average of about 8% to anywhere from 3% to 1%.

	These are the Bitcoin remittance companies to date:		These are the Bitcoin remittance companies to date:
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	*Sendmoney		*Sendmoney

			==Rebittance.org==
			In October of 2014, the website Rebittance.org was created by Philippines-based company Satoshi Citadel Industries as a shared resource about Bitcoin remittance for the bitcoin community.

			==External Links==
			http://Rebittance.org Website

			==References==
			<references>

	~~==Rebittance.org==~~		</references>
	~~In October of 2014, the website http:~~/~~/Rebittance.org was created by Philippines-based company Satoshi Citadel Industries as a shared resource about Bitcoin remittance for the bitcoin community.~~

Miguelcuneta: Created page with ""Rebittance" is a term that is being increasingly used to distinguish Bitcoin remittance from traditional remittance. It is the process of using Bitcoin companies for remitta..."

2014-10-20T08:29:41Z

Created page with ""Rebittance" is a term that is being increasingly used to distinguish Bitcoin remittance from traditional remittance. It is the process of using Bitcoin companies for remitta..."

New page

"Rebittance" is a term that is being increasingly used to distinguish Bitcoin remittance from traditional remittance. It is the process of using Bitcoin companies for remittance of money overseas in a manner familiar with those who use traditional remittance companies, but at a fraction of the cost.

==Traditional Remittance==

In 2014, an expected US$436 Billion will be remitted by migrants back to their families in the developing world. The cost of sending all those remittances is estimated at US$47 billion or more than 10% of the entire amount.

In traditional remittances, credit is forwarded through 3 or 4 separate banks or clearing houses before finding their way to their intended recipients. At each step, fees may be applied. Each bank must secure its respective network and facilities and this costs money.

By using Bitcoin, the average cost of remittances could be reduced to $5 Billion, or 1.1%.

==Rebittance Services==

Rebittance does away with all this by only having a single entity in between the sender and the receiver. Although Bitcoin is inherently designed to be completely peer-to-peer, Rebittance companies are seen as a necessity due to lack of infrastructure at this stage of its development. These organizations purchase bitcoins from senders all over the world and then exchange and remit the local currency to the nominated recipient. Bitcoin remittance companies have reduced the cost of sending money internationally from a global average of about 8% to anywhere from 3% to 1%.

These are the Bitcoin remittance companies to date:

*Beam
*BitPesa
*Bitso
*Coincove
*Payfast
*Rebit.ph
*Sendmoney

==Rebittance.org==
In October of 2014, the website http://Rebittance.org was created by Philippines-based company Satoshi Citadel Industries as a shared resource about Bitcoin remittance for the bitcoin community.

Rebittance - Revision history

Miguelcuneta at 08:46, 20 October 2014

Miguelcuneta: Created page with ""Rebittance" is a term that is being increasingly used to distinguish Bitcoin remittance from traditional remittance. It is the process of using Bitcoin companies for remitta..."