International money transfer market – best fit for Bitcoin
Remittance market is a huge transfer of money happening every day. According to World Bank report the estimated remittances size in 2015 was forecast to be $601 billion. International transfers were one of the best-fitting envisioned applications of bitcoin, as it is state border-less by definition and cheap to send money irrespective of amounts sent, while only fees per transaction size in bytes matter. However, it is still a hard way to get Bitcoin adapted at a massive scale. Early stage of its development makes it an instrument for tech advanced people only.
With introduction of new bitcoin services we are moving closer to the case when bitcoin is used daily by many households, bitcoin ATM is one of such services. Initial idea of bitcoin machines is to exchange cash to bitcoins or other cyrptocurrencies and vice versa, bitcoin to cash. However, there are other use-cases for bitcoin ATMs evolved. One of them is international remittance.