Monday

April 22nd , 2024

FOLLOW US
pc

WINFRED KWAO

2 months ago

HOW TO SEND MONEY TO NIGERIA FROM THE US WITH PYUSD AT THE LOWEST COST

featured img
Finance

2 months ago

What would you do if you could get a cheaper, more secure, and faster way to send money from the US to Nigeria? You’d jump on it without a second thought; who wouldn’t? 

Cross-border transactions have long been a cause of concern, especially since they are rigged with several challenges. From high fees to slow transaction times, the process can be daunting, especially for Africans in the diaspora looking to support families back home.  However, the emergence of digital currencies like PYUSD presents a revolutionary alternative. 

In this article, we’ll delve into how to send money to Nigeria with PYUSD and why PYUSD is an excellent option for navigating the challenges faced in traditional money transfers.


Why Use PYUSD To Send Money From The United States To Nigeria

PYUSD stands for "Paypal USD," a stablecoin pegged to the US Dollar; that is, $1 equals 1 PYUSD. It was launched by the global payment service provider Paypal. PYUSD provides a unique opportunity to send money from the US across Africa seamlessly. How? 

  1. Unmatched Speed: Time is of the essence in financial transactions. PYUSD stands out for its ability to facilitate almost instantaneous transfers. Unlike traditional bank transfers that take hours or even days, PYUSD transactions are completed in minutes, if not seconds. This speed is invaluable for urgent transfers, ensuring funds reach their destination swiftly without the usual delays associated with conventional banking methods.
  2. Significantly Lower Fees: One of the most compelling advantages of PYUSD is its cost-effectiveness. Traditional banks and money transfer services often levy substantial fees, which can eat into the amount being sent. PYUSD, in contrast, operates with much lower transaction fees. This efficiency means more money in the pockets of the recipients in Nigeria, making it an economically smarter choice for both senders and receivers.

  3. Convenience and Ease of Use: The digital nature of PYUSD makes it incredibly user-friendly. Transactions can be conducted from anywhere, at any time, simply using a smartphone or computer. This level of convenience is a game-changer, especially for those who do not have easy access to traditional banking services. It eliminates the need for physical visits to banks or transfer agents, saving time and effort. With internet access, PYUSD transactions can be made anywhere, anytime, breaking the barrier of banking access.
  4. Robust Security: In the realm of financial transactions, security is paramount. PYUSD leverages advanced encryption and blockchain technology, ensuring each transaction is secure and protected from fraud and cyber threats. This security gives users peace of mind, knowing their funds are safe during the transfer process. 

How PYUSD Works with Yellow Card

Yellow Card is the largest and only licensed on-and off-ramp for stable coins in Africa, providing a platform for sending and receiving PYUSD. Its platform is designed for ease of use, making it accessible even to those new to digital currencies. Yellow Card's reputation in Africa adds a layer of trust and reliability to transactions. In fact, Yellow Card is the first fintech on the African continent to launch PayPal USD (PYUSD).

Here’s how to send PYUSD to Nigeria for free :

  1. Deposit your dollars into your Venmo account on Paypal and buy PYUSD for free
  2. Send the PYUSD to the recipient’s Yellow Card  PYUSD wallet
  3. Nigerian recipients can instantly convert PYUSD into Naira and withdraw it into their local bank accounts.

Yellow Card simplifies the process by allowing the recipient to instantly get the exact value of their money for free in their bank account. 

All the recipient has to do to receive money from the US in Nigeria is:

  1. Sign up to open a free Yellow Card wallet
  2. Share the details of their PYUSD wallet with the recipient in the US
  3. Sell the PYUSD for naira
  4. Withdraw naira into their bank account instantly. 

It’s that simple!

Yellow Card not only ensures the process is seamless but also ensures you get the best rates for selling your PYUSD for naira.


Conclusion

Sending money to Nigeria from the US doesn't have to be a hassle. The process of transferring money from the US to Nigeria is now streamlined and efficient, thanks to PYUSD via Yellow Card. This innovative solution offers you the advantage of lower fees, quicker transaction times, and a platform that prioritises accessibility and security.

Meet the Author


PC
WINFRED KWAO

Blogger And Article writer

follow me

INTERSTING TOPICS


Connect and interact with amazing Authors in our twitter community