{"id":9396,"date":"2023-08-17T20:58:10","date_gmt":"2023-08-17T13:58:10","guid":{"rendered":"https:\/\/bitcoinvn.io\/news\/?p=9396"},"modified":"2024-05-24T09:27:17","modified_gmt":"2024-05-24T02:27:17","slug":"the-expats-unconventional-guide-to-sending-money-back-home","status":"publish","type":"post","link":"https:\/\/bitcoinvn.io\/news\/the-expats-unconventional-guide-to-sending-money-back-home\/","title":{"rendered":"The Expat’s Unconventional Guide to Sending Money Back Home – How to Save Time, Hassle and Fees"},"content":{"rendered":"

Most people don\u2019t know that you can send money back home WITHOUT a trip to a Vietnamese bank.<\/span><\/p>\n

Going to the bank is a chore. You can’t go during lunch, need your passport and documents, must take a ticket to wait for your number to be called – and then you need to fill forms.\u00a0 This process, along with bank fees, seem like a fact-of-life.\u00a0<\/span><\/p>\n

It doesn’t have to be anymore.\u00a0 How To send money out of Vietnam<\/span><\/span><\/p>\n

It’s possible to send money out of Vietnam without going through the bank – from the comfort of your home.\u00a0<\/span><\/p>\n

*The following process is meant as a guide, please take note to make sure your tax filings are up to date to avoid unexpected surprises along the way.<\/span><\/em><\/p>\n

1. The Process Overview\u00a0<\/strong><\/h2>\n

To avoid the banks and send money home, we will need to use two crypto exchanges and stablecoins (<\/span>USDC<\/span><\/a>).\u00a0<\/span><\/p>\n

*Stablecoins will be denoted as USDC<\/span><\/em><\/p>\n

The crypto exchanges replace our banks to send-receive the transaction and USDC are used to transfer money between them.\u00a0<\/span><\/p>\n

This method is how we send everything digitally from home.\u00a0<\/span><\/p>\n

The process is similar to how banks transact, only we are doing it ourselves.\u00a0<\/span><\/p>\n

We can send and verify money back home almost instantly and securely with lower fees than banks.\u00a0<\/span><\/p>\n

2. The Tools We Need<\/b><\/h2>\n

Because the crypto exchanges are replacing the banks in our money transfer, we’ll need to set up our own “bank” in each country.<\/span><\/p>\n

*I will use receiving <\/span><\/i>in<\/span><\/i> the USA as an example.<\/span><\/i>\u00a0<\/span><\/p>\n

Create two crypto exchange accounts – one with <\/span>BitcoinVN.io<\/span><\/a> for the Vietnamese side and one account with Coinbase for the US side (choose your country’s crypto exchange). BitcoinVN.io is how we convert money from <\/span>VND to USDC<\/span><\/a>, and Coinbase is how we convert USDC to dollars. The two exchanges act as banks to facilitate this transaction.\u00a0<\/span><\/p>\n

The two exchanges are used to essentially send money to yourself.<\/span><\/p>\n

\"How<\/p>\n

3. VND to Stablecoins (USDC)<\/strong><\/h2>\n

Convert your VND.\u00a0<\/span><\/p>\n

On BitcoinVN, convert VND to USDC by sending VND from your Vietnamese banking app to the USDC address displayed in the Coinbase account.\u00a0<\/span><\/p>\n

We are instructing BitcoinVN to send USDC to your exchange in the US<\/span><\/p>\n

4. USDC to Dollars How To send money out of Vietna<\/span><\/strong><\/h2>\n

The hard part is over.\u00a0<\/span><\/p>\n

Now that we received USDC in the Coinbase account, sell the USDC for dollars. The value from USDC to dollars will remain the same and the entire conversion is complete.\u00a0<\/span><\/p>\n

This transaction was made from home, within minutes.\u00a0<\/span><\/p>\n

5. Withdrawal to Bank Account<\/strong><\/h2>\n

Move the money from Coinbase into your bank account.<\/span><\/p>\n

Withdrawal the dollars from Coinbase into your linked bank account. This is the final step in the process. The funds are now in your US bank account.\u00a0<\/span><\/p>\n

And now we’ve converted and transferred VND to USD without going to the bank – saving time, hassle and fees.\u00a0<\/span><\/p>\n

To summarize: How To send money out of Vietnam<\/span><\/span><\/p>\n

    \n
  1. Convert VND to USDC (Stablecoin) through <\/span>BitcoinVN.io<\/span><\/a>.<\/span><\/li>\n
  2. Convert USDC to dollars within your crypto exchange in your home country.\u00a0<\/span><\/li>\n
  3. Withdrawal dollars from your crypto exchange to your bank account.<\/span><\/li>\n<\/ol>\n

    Thanks for reading!<\/span><\/p>\n

    BUY USDC WITH VND BANK WIRE!<\/a> <\/strong><\/h2>\n","protected":false},"excerpt":{"rendered":"

    Most people don\u2019t know that you can send money back home WITHOUT a trip to a Vietnamese bank. Going to the bank is a chore. You can’t go during lunch, need your passport and documents, must take a ticket to wait for your number to be called – and then you need to fill forms.\u00a0 […]<\/p>\n","protected":false},"author":13,"featured_media":9403,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10551,8344],"tags":[],"class_list":["post-9396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured-sidebar","category-life-entrepreneurship"],"yoast_head":"\nExpat money Transfers: Save time, fees and hassle<\/title>\n<meta name=\"description\" content=\"It\u2019s possible to send money out of Vietnam without going through the bank \u2013 from the comfort of your home....\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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