In the 3rd world, Western Union and Moneygram are the only options for a lot of working people. But they charge people fees between 8-14% in these countries. Crypto is a complete godsend and for people who say it has no utility simply don't know how privi

I hear a lot of people saying crypto has no utility, But if you truly knew the experiences of the third world, you have no idea how ignorant that statement is. Very large portions of the population also work abroad, as opportunities at home simply aren't good and send remittances back home to family using these money transmitters, . For a lot of these 3rd world people, money transmitters like Western Union and Moneygram are their only options as it's very difficult for these migrant to have banking access and the fees would kill them anyway as international wire transfers can cost a fixed fee $40-50 USD, which might be more than the entire amount they wanted to send.

The major issue is that these people are charged and arm and a leg by transmitters like Moneygram and Western Union. The fee can vary between 8-14% off the transfer amount depending on the country to send to a physical location. Back in the day, these fees were even higher. Before any says it, Moneygrams "zero fee" transfers with Stellar are not available to most of the 3rd world. There's no specific reason for this, but profits could certainly be one. On top of this, sending only is also not at option for a lot of these countries as well.

So imagine you're a migrant workers making pittance. And on the pittance you make to provide for your struggling and likely starving family back home you immediately lose 10% on this. I'm not exaggerating when I see persons try to send $10 and $20 back home, because that's all they have and whatever of little they do manage to send, 10% is immediately lost. I've seen some people really struggling and try to send even less than this and it just pretty sad as every dollar counts for these people.

Then you bring in stuff like crypto with what amounts to near zero fees. It is a complete game-changer. You're either ignorant or insane to say that crypto has no utility.