Every year, Americans spend more than US$12 billion in remittance fees when sending money to family and friends living abroad through the traditional financial system. According to Coinbase, one of the largest crypto exchanges based in the United States, overseas remittances using Bitcoin and Ethereum cost 96.7% less. “With a fee rate of 6.18% in the United States, Americans’ average yearly spend on remittance fees is likely to be close to US$12 billion.” “You shouldn’t have to spend money to send money,” Coinbase stated in an April 3 blog post. On average, sending Bitcoin to another wallet costs $1.50, while sending Ethereum costs $0.75, according to Coinbase.