Bitnovo, which makes Dash purchases easier through in-store gift card purchases, has now officially become available in over 2,000 Portuguese stores.
Buying $Dash in Portugal in cash has now become a reality!
Finally Dash is available in Portugal in more than 2.000 @bitnovo and @pagaqui stores! In @bitnovo we continue to support the #DashRemittanceProject to get Dash into people hands! 🙌🚀@dash_text @DashpayNews @Dashpay pic.twitter.com/ibxLbhaPiD
— Bitnovo (@bitnovo) August 7, 2019
Consumers can visit any of these stores to purchase a Bitnovo voucher card and then redeem it for Dash online. Dash was integrated into Bitnovo last year where their vouchers were available in Spain and Italy and were just introduced earlier this year to over 3,000 locations in France. They currently claim to be available at over 30,000 stores and franchisees throughout Europe.
Bitnovo also has prepaid cryptocurrency debit cards available to further expand cryptocurrency usability. These cards are available for a one time 20 EUR purchase fee, 1 EUR monthly maintenance fee and a 2% recharge fee. However, their vouchers do not carry any additional fee on top of the standard exchange fee, making them ideal for low-cost Dash acquisition.
Simplifying the remittance process with easily purchasable cryptocurrency
Traditional remittance methods carry a high cost for individuals sending money abroad, such as an average cost of €8 EUR and even as high as €13 EUR to send money from Portugal to Brazil through Western Union. The prices for sending remittances from Spain to Colombia, with some exceptions, are also in the €8-€13 EUR range for most remittance agencies, according to The World Bank Group remittance calculator. To add to the difficulty, this money can still take hours to days to get to its destination.
Remittance to Venezuela has never been so easy! Step1 – buy a @bitnovo gift card. Step2 – Introduce @dash_text number and bitnovo PIN and Step3 – Receive @Dashpay instantly at Venezuela! We’ve gone live on our website! #dash #blockchain #adoption #venezuela #remittance pic.twitter.com/cDaPiLgucN
— Bitnovo (@bitnovo) January 8, 2019
Cryptocurrency by itself vastly decreases these money and time costs, but Bitnovo simplifies the process for many remittance senders that either do not have a bank account and/or do not have the technological capabilities to buy cryptocurrencies through a traditional exchange. Sending remittances with Dash will cost less than a cent and only take seconds to clear, which is vastly cheaper than traditional remittance methods and even many other cryptocurrencies. Further, their partnership with Dash Text makes the process even simpler and more accessible for both the sender and receiver that may not own a smartphone due to the cost (~ 60% of Venezuelans, ~ 59% of Colombians, and ~ 40% of Brazilians). Dash Text and Bitnovo enable a simple process of an individual going to the store to purchase a Dash voucher, logging online to load their account and then entering their loved one’s Dash Text number to send some money. The receiver can then use their phone to pay with Dash at a number of merchants using a POS platform with a Dash Text enabled account.
Dash growing both ends of the remittance economy
Here are a few photos of our Remittance event in Madrid😎.
If you couldn't be there this time don't worry, we'll do more!💪 pic.twitter.com/QPIZoGXAmT
— Dash Text (@dash_text) July 22, 2019
Dash has also been integrated into other platforms working to solve the remittance issue that is currently valued around $1.93 billion USD and is expected to rapidly grow to $8.61 USD billion by 2025. CoinLogiq enables consumers to purchase Dash and cryptocurrency through an online portal or mobile app and then make it available at any of their ATMs for pickup by the desired individual via a special access code. Then Uphold recently eliminated their fee to withdraw to the Dash blockchain, which makes sending and receiving remittances even more affordable compared to old remittance methods and other cryptocurrencies.
A sign of Dash’s growth in Latin America, a key remittance corridor, is seen in Dash recently surpassing Bitcoin on the popular Cryptobuyer exchange, which also offers POS services for merchants. Further, Dash recently surpassed 1,100 transaction in a month on the Dash LatAm payment platform and over 10,000 wallets in Venezuela. The 2,000 plus merchants in Venezuela and Colombia, combined, enable more individuals to directly spend remittances at stores for everyday goods and services and thus optimizing their savings over using older remittance methods.