<p>I'm a Canadian working for an American company.  I get paid in American which gets deposited into an American account.  To get the money to Canada, I write myself cheques from my American account and deposit into my Canadian account.  Would it be feasible/beneficial to transfer the money via bitcoin (convert USD to bitcoin, then convert bitcoin to CAD) instead of writing the cheques?</p>

CC BY-SA 3.0
2014-03-28T20:28:12.730Z
The exchange rate the last time I deposited was 1 CAD = 0.9 USD, and I deposited $9000 and got $743 on the exchange (so I lost $157 on the exchange compared to the pure exchange rate).  It's not just if it's cheaper, but is it simple?
Chris L.
CC BY-SA 3.0
2014-03-29T14:37:06.597Z
I deposited $9000 USD.  If I got the full exchange rated, I should have gotten $9900 CAD after the deposit, but I actually got $9743
Chris L.
CC BY-SA 3.0
2014-03-29T20:46:06.697Z
Yes, that sounds right.  So the fees are comparable.  How long would that chain of transactions take to complete?
Chris L.
<exchanges><money-transfer>
Would it be any cheaper to transfer US dollars to Canadian using Bitcoin?
Chris L.
# Would it be any cheaper to transfer US dollars to Canadian using Bitcoin?

(Asked by: username_0 on 2014-03-28)

I'm a Canadian working for an American company. I get paid in American which gets deposited into an American account. To get the money to Canada, I write myself cheques from my American account and deposit into my Canadian account. Would it be feasible/beneficial to transfer the money via bitcoin (convert USD to bitcoin, then convert bitcoin to CAD) instead of writing the cheques?

**Tags:** exchanges, money-transfer

> **Comments:**
> **username_0**: The exchange rate the last time I deposited was 1 CAD = 0.9 USD, and I deposited $9000 and got $743 on the exchange (so I lost $157 on the exchange compared to the pure exchange rate).  It's not just if it's cheaper, but is it simple?  
> **username_0**: I deposited $9000 USD.  If I got the full exchange rated, I should have gotten $9900 CAD after the deposit, but I actually got $9743  
> **username_0**: Yes, that sounds right.  So the fees are comparable.  How long would that chain of transactions take to complete?  

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## 0 answers

