I have a family member that spends half their time in the US and half in UK. Most of their money is in USD and they’re looking for a lower cost way to convert a decent amount to GBP. Could crypto be a solution? Has anyone looked into the cost effectiveness and or regulatory implications of doing this?
I’d assume they could buy BTC in USD on an exchange (coinbase,kraken?) and then sell BTC for GBP to deposit into their UK bank account? This family member is not super crypto savvy so ideally looking for a simple solution using one 3rd party exchange. Anyone have experience doing this? What exchange(s) did you use?
Edit: thanks all. Seems like crypto is not best options for this.
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