Remittance Fees Bangladesh: How Crypto Is Cutting Costs for Overseas Workers
When someone in Bangladesh sends money home, they often pay remittance fees that can eat up 6% or more of every dollar sent. That’s not just a number—it’s meals skipped, school fees delayed, or medical bills unpaid. The traditional system—banks, Western Union, MoneyGram—was built for paper and paperwork, not the digital age. But now, crypto remittance, using blockchain networks to send value across borders without intermediaries is stepping in to fix it. It’s not magic, but it’s close: transfers that used to take days now happen in minutes, with fees under 1%.
Why does this matter so much in Bangladesh? Over 10 million Bangladeshis work overseas, mostly in the Middle East and Southeast Asia. In 2023, they sent back over $21 billion—more than 7% of the country’s entire GDP. Most of that still flows through expensive, slow channels. But cross-border crypto, digital transfers that bypass traditional banking networks is changing the game. Platforms using stablecoins like USDT or USDC let users convert taka to crypto on one end, then cash out locally in Bangladesh with near-zero fees. No middlemen. No hidden charges. Just a phone and an internet connection.
And it’s not just about saving money. It’s about control. With crypto, the sender knows exactly where their money is at every step. No more waiting for a confirmation call. No more agents disappearing with cash. low fee crypto, blockchain networks designed for fast, cheap transactions like Ripple, Stellar, or even Bitcoin Layer 2s are making this possible. Some users in Dhaka are already getting paid in crypto from overseas employers, then converting to taka through local exchanges—cutting out the middleman entirely.
But it’s not all smooth sailing. Not every crypto platform is safe. Some promise zero fees but vanish with your funds. Others require complex steps that confuse users unfamiliar with wallets or private keys. That’s why the real value isn’t just in the tech—it’s in knowing which tools work, who to trust, and how to avoid scams. The posts below show you exactly that: real examples of people in Bangladesh using crypto to send money home, the exchanges that actually serve them, the hidden traps to watch for, and how to do it without losing your savings.
Remittances and Crypto Use in Bangladesh: Why Digital Currencies Are Still Banned
Bangladesh hit a record $30 billion in remittances in 2025, but crypto remains banned. Learn why the central bank blocks digital currencies despite high fees and slow transfers in formal channels.
- January 30 2025
- Terri DeLange
- 16 Comments