Yesterday using ALGO, I was able to send $1000 across the country for 0.16¢. That is written correctly. It’s not 16¢; it’s 16/100 of 1¢. On top of that, because of the way ALGO rewards are paid with each transaction, that fee doesn’t come out of pocket. I can remember a time when sending $50 across the country cost me $8.95 because my only options were Western Union or MoneyGram.
The service that is being provided is indispensable, and ridiculously cheap. If nothing else, crypto will always be a way to send money to family that ensures your family gets the money instead of some giant corporation.
Every once in a while, I stop to think about it. And I think about how those companies leached money off of the middle class for so long that I don’t feel bad for them at all. Sorry Western Union, you blew it.