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How You Can Use NOAH for Remittances

25 October 2022

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How You Can Use NOAH for Remittances
Why NOAH is great for remittances: / 

NOAH is your best option for remittances. We use the most secure and cost-effective platform on the planet — the Bitcoin Network.

As the world becomes more globalized, the barriers and limitations of nation-states grow more irrelevant. Mobility and migration around the world grow easier with each passing day, and people continue to expand their horizons reshape their lives, and seek better opportunities across the globe, not just for themselves, but for their families.

In pursuit of these opportunities, many people find themselves employed in foreign countries, and often need to send money back home to support their loved ones. This process of sending money back home — known as remittances — is a vital flow of funds for millions of people around the world, and one that is growing larger every year.

In 2022, global remittances are expected to reach $630 billion USD, and the World Bank estimates that number is expected to grow to $5.4 trillion by 2030. Mobile money will take the lion’s share of this growth, with the number of mobile money accounts expected to reach over 2 billion within the next couple of years.

The current remittance market is riddled with fees, long transaction times, and limited accessibility, which is why more and more people are turning to mobile money as a way to quickly and easily send money back home. The reason for this growth is simple — mobile money is fast, convenient, and often more affordable than traditional methods.

And while there are myriad ways to send remittances, Bitcoin-based solutions like NOAH are the most efficient, secure, and cost-effective option on the market. We want to make remittances more accessible so that people can easily and affordably support themselves and their loved ones no matter where in the world they are.

We think remittances should be as easy as sending an email — fast, convenient, and simple, without costing you an arm and a leg. And that's exactly what NOAH does. We know how important this is for the millions of people who rely on remittances in their lives, and it's that ethos that's at the core of who we are.

Why NOAH is great for remittances:

  • Send anywhere — Send bitcoin to almost anywhere in the world, all in an instant. No matter if you're sending money to someone in the next town over or to someone across the globe, your transaction arrives in seconds for free — all you need is a NOAH wallet. No “we take a cut” or “there’s a service charge” or anything like that.
  • Instant — Instant — Bitcoin's Lightning Network is the fastest payment method currently available, and we're proud to be a wallet that supports it. That means your transactions arrive in mere seconds, not hours or days, like traditional finance. NOAH is simply the best way to send money back home — it's fast, convenient, and doesn't cost you an arm and a leg.
  • No fees — We don't charge any transaction fees, period. That means what you send is what your recipient gets, with no deductions. We use the Lightning Network, the most advanced next-generation payment method in the entire world. It's built atop the Bitcoin blockchain, inheriting all of Bitcoin's security while allowing for ultra-fast, near-zero cost transactions.
  • No red tape — Bitcoin is a global currency. You can send money to anyone. And no, you don't even have to ask permission. You get to send money to whoever you want whenever you want, which is exactly how it should be. Your money is yours, so shouldn't it be up to you to decide what to do with it?
  • It's secure — Bitcoin is the most secure network in the world. Unlike other cryptocurrencies, Bitcoin has no leader, no CEO, and no company in charge. It's decentralized, powered by math, and can't be censored or stopped. It's also immutable, so once you make a transaction, no one can decide to reverse it. The funds you send will always arrive exactly as you sent them. We built NOAH on top of Bitcoin for that very reason.
  • It's easy — We think a sleek, clean user interface is one of the most important aspects of any financial product. So we've made sure that our app is easy and intuitive to use, even if you're not a Bitcoin expert. All you have to do is input who you want to send money to and for how much, then hit "send." That's all there is to it. The simplest path is always the best path.

When it comes to remittances, we want to take all the guesswork and hassle out of the equation. We know how important it is to be able to quickly and easily send money back home, and we want to be the solution that makes it all possible.

Please be aware that:

  • Cryptocurrencies are unregulated in the UK;
  • Cryptocurrencies are not protected under Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS);
  • Profits may be subject to capital gains tax;
  • The value of investments can go down as well as up

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