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Why Has Bitcoin Not Killed Off Western Union Yet?


Bitcoin Western Union

Bitcoin is the perfect financial instrument for sending money overseas and it was expected that the rise of cryptocurrency would be the death of Western Union. Using BTC for money transfers is faster, more secure and has lower fees which is why is was expected the the world largest money broker would struggle to compete.

Instead, it has seen gains over the last 10 years and in the last quarter of 2017 it posted a 13% increase on year-over-year earnings. This shock result beat all expert analysts predictions and it looks like the 1851 company will continues to grow for some time yet.

One of the main reasons why Western Union has managed to survive and grow is due to the company integrating digital mobile payments. This has helped take the company to the next level and now 60% of all transactions are via mobile devices.

For the full Western Union Bitcoin story visit finance Yahoo via the link below:

Bitcoin was envisioned as a “peer-to-peer electronic cash system” in Satoshi Nakamoto’s original 2008 white paper , and one of its biggest appeals was frictionless international payments. Bitcoin promised shorter transfer times and lower transfer fees than you’d get at Western Union or another money transfer business, the de […]

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