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Freemit

Share, send, and get cash anywhere in the world

Freemit

Share, send, and get cash anywhere in the world

Freemit is a financial travel companion that empowers 3.6 billion travelers, students and others with a digital wallet, giving them financial independence to instantly access their financial resources using bitcoin.

We are creating a streamlined, inexpensive alternative to the current remittance and currency exchange systems. Using the blockchain and a local currency in/local currency out vision, we will make moving money cheaper, better, and friction-free.

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On the website there's the following FAQ: "This sounds too good to be true. How do you stay in business without charging any fees on sending or exchanging money?"

The question isn't really answered though. I can see why using blockchain technology would make things cheaper, but as a business you still have a lot other expenses. How do you cover these? I'm assuming Freemit isn't a charity and plans to make money at some point.

Curious to hear more. I think clearly communicating your business model will help establish Freemit's credibility.

As for the concept I think it's really clever. Congrats!
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It's a bureau de change in all but name.
The margins will be on the exchange rates. They vary constantly, if you don't pay for live info, it'll be a good 15 min's behind the real price.

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