Cuba Remittance Savings Calculator
Traditional remittance services in Cuba charge up to 10% in fees. Crypto remittances via peer-to-peer platforms charge just 1-3%. This calculator shows how much you'd save by using crypto.
On the surface, it seems impossible: a country under 60 years of U.S. sanctions, with limited internet, no access to PayPal or Western Union, and a state-controlled economy - yet it’s one of the few places in the world where Bitcoin is not just tolerated, but officially recognized as legal tender. Cuba didn’t wait for permission. It didn’t wait for the world to catch up. When traditional finance shut its doors, Cubans turned to crypto - and the government didn’t stop them. It helped.
Why Cuba Had No Choice
In 2020, Western Union shut down all 400+ of its locations in Cuba. That wasn’t just a business decision. It was a consequence of U.S. sanctions. No more cash transfers from family in Miami, Madrid, or Madrid. No more money for medicine, school supplies, or a new fridge. For millions of Cubans, that was the end of a lifeline. The U.S. embargo, in place since 1962, blocked Cuban banks from connecting to the global financial system. Credit cards? Useless. Amazon? Blocked. International wire transfers? Nearly impossible. Banks in Europe and the U.S. refused to process any transaction linked to Cuba - not because they didn’t want to, but because the penalties for violating sanctions were too high. That’s when crypto became more than a tech trend. It became survival.The Government Didn’t Ban It - It Regulated It
Most countries respond to crypto with bans or confusion. Cuba did something unexpected: it made rules. In August 2021, the Cuban Central Bank (BCC) issued Resolution 215, officially recognizing Bitcoin and other cryptocurrencies as legal payment methods. Not as a side experiment. Not as a loophole. As part of the national financial system. The BCC didn’t just say, “Go ahead.” They set up a licensing system. Only companies approved by the bank can offer crypto services. Every exchange, wallet provider, or mining operation needs a license. The government checks the applicant’s background, financial history, and even their cybersecurity practices. They want to prevent money laundering. They want to track suspicious activity. But they don’t want to stop people from using crypto. This isn’t control for control’s sake. It’s control to make it work. Cuba needed crypto to be safe, traceable, and reliable - not hidden or chaotic.How Cubans Are Actually Using Crypto
You won’t find Bitcoin ATMs on every corner. You won’t see grocery stores accepting Ethereum in Havana. But you’ll find something more powerful: real, daily use cases. Remittances - This is the biggest driver. A Cuban living in Miami sends $100 to their family in Santiago. Instead of paying 10% in fees to Western Union, they use a crypto app. The sender buys Bitcoin on a U.S. exchange. The receiver gets it via a peer-to-peer platform like Paxful or LocalBitcoins. They cash out through a licensed Cuban crypto exchange - and walk away with pesos in hand. Fees? As low as 1-3%. Online shopping - Cuba can’t access Amazon, eBay, or even many international software services. But with crypto, Cubans buy what they need: medical supplies from India, laptops from China, licenses for Adobe or Microsoft. They pay in Bitcoin or USDT, and the seller ships it via courier services that don’t care about U.S. sanctions. Freelancing - Writers, designers, coders in Cuba are now paid in crypto by clients in Spain, Mexico, or the U.S. They avoid bank delays and currency controls. Some even earn more than they would in state jobs. An estimated 100,000 to 200,000 Cubans - about 1-2% of the population - use crypto regularly. That’s not a majority. But in a country where only 70% of people have reliable mobile internet, it’s a revolution.
Crypto Mining Is Legal - And Getting Greener
You might think mining Bitcoin in Cuba would be impossible. Low power? Poor infrastructure? Wrong. In 2023, the government started licensing crypto mining farms - but with strict rules. Miners must use renewable energy. Solar panels and wind turbines are now common in mining operations in provinces like Ciego de Ávila and Las Tunas. The goal? Cut costs, reduce emissions, and avoid draining the national grid. Cuba partnered with international tech firms to bring in solar equipment and training programs. Local technicians now learn how to maintain mining rigs. Some even earn dollars in crypto for their work. This isn’t a wild west of miners running generators at night. It’s a regulated, state-approved industry - one that’s quietly becoming a new source of hard currency for the country.The Catch: Sanctions Still Block the Door
Let’s be clear: Cuba’s crypto system isn’t perfect. It’s not free. It’s not easy. International exchanges like Coinbase and Binance don’t serve Cuban users. Why? Because they fear U.S. penalties. Even if a Cuban has a wallet, they can’t just sign up for Binance like someone in Germany can. They rely on peer-to-peer platforms, which are riskier and slower. Internet access is still spotty. A stable connection costs more than most Cubans earn in a day. Many use public Wi-Fi spots in parks or hotels - and those often get shut down during protests or political events. And then there’s the shadow problem: U.S. sanctions target Cuban state entities like GAESA and Gaviota - companies that control everything from hotels to telecoms. If a crypto exchange is even indirectly linked to them, foreign partners won’t touch it. That makes it hard to build real partnerships with global firms. So while crypto is legal, the system is still trapped in a cage made of sanctions.
What Makes Cuba Different
Other countries banned crypto. Russia tried to control it. China crushed mining. Venezuela experimented with its own digital peso - and failed. Cuba did something smarter. They didn’t try to stop crypto. They didn’t ignore it. They didn’t create a state coin that no one trusts. They accepted it. Then they built rules around it. They made it safe. They made it useful. They made it part of the economy. This isn’t about ideology. It’s about necessity. When the world cuts you off, you find another way. Cuba found blockchain.The Bigger Picture
Cuba’s story isn’t just about crypto. It’s about what happens when a nation is forced to innovate under pressure. Other sanctioned countries - Venezuela, Iran, North Korea - have looked at Cuba’s model. Some are trying to copy it. But Cuba has one advantage: it’s not trying to replace the dollar. It’s not trying to overthrow the system. It’s just trying to survive in it. The world may not recognize Cuba’s crypto system. But millions of Cubans do. For them, Bitcoin isn’t a speculative asset. It’s a tool. A bridge. A way to keep their families fed. As of 2025, Cuba’s crypto framework is one of the most detailed, regulated, and practical in the world. Not because it’s perfect. But because it had to be.What’s Next?
The Cuban government is now working on a national digital currency - but not to replace crypto. To complement it. Think of it as a state-backed stablecoin, pegged to the peso, used for internal payments. It won’t be for international transfers. It’ll be for paying teachers, doctors, and bus drivers - people who still get paid in cash. Meanwhile, crypto adoption keeps growing. More young Cubans are learning how to trade. More small businesses are accepting USDT. More remittance corridors are opening through private apps. The U.S. sanctions won’t disappear tomorrow. But the internet? It’s getting faster. The phones? More people have them. And the will to connect? That’s already here. Cuba didn’t wait for permission. They built their own financial future - one transaction at a time.Is Bitcoin legal in Cuba?
Yes. Since August 2021, Bitcoin and other cryptocurrencies have been officially recognized as legal payment methods under Cuban Central Bank Resolution 215. The government regulates crypto through licensed service providers, but does not ban its use.
Can Cubans buy Bitcoin on Coinbase or Binance?
No. Major international exchanges like Coinbase and Binance do not serve Cuban users due to U.S. sanctions. Cubans rely on peer-to-peer platforms like Paxful, LocalBitcoins, or Telegram-based traders to buy and sell crypto.
Why is crypto so popular in Cuba?
Because traditional financial services are blocked. Western Union closed its Cuban operations in 2020, credit cards don’t work, and international bank transfers are nearly impossible. Crypto lets Cubans receive remittances, buy goods online, and earn income from abroad - bypassing sanctions entirely.
Is crypto mining legal in Cuba?
Yes. Since 2023, crypto mining has been legal under government regulation. Miners must obtain licenses, use renewable energy (like solar or wind), and comply with cybersecurity standards. The government even partners with foreign firms to support mining infrastructure.
How many Cubans use cryptocurrency?
An estimated 100,000 to 200,000 Cubans - about 1-2% of the population - use crypto regularly. Most use it for remittances, online purchases, or freelance work. Adoption is growing quickly despite limited internet access.
Does Cuba have its own cryptocurrency?
Not yet for public use. But the government is developing a state-backed digital peso - a stablecoin for internal payments like salaries and utilities. It’s meant to work alongside Bitcoin and other crypto, not replace them.
Why hasn’t the U.S. shut down Cuba’s crypto system?
The U.S. sanctions target financial institutions and state entities - not individuals using crypto. As long as Cubans aren’t transacting with sanctioned companies like GAESA, and as long as crypto flows aren’t directly funding the military or government, enforcement is difficult. The U.S. also lacks the ability to control peer-to-peer transactions across global blockchain networks.
Jason Coe
1 11 25 / 22:32 PMMan, I never thought I'd see a country turn sanctions into an innovation engine. Cuba didn't wait for permission, they just built the damn thing. Crypto isn't some flashy tech experiment there - it's the only way families stay fed. I've seen remittance fees eat 10% of a transfer in other places. 1-3%? That's life-changing money. The government actually getting involved to regulate it properly instead of banning it? That's smarter than half the countries in the world.
And the mining with solar? That's not just clever, it's beautiful. They're not trying to compete with Bitcoin's hash rate, they're using it as a tool to generate hard currency without draining the grid. That's sustainable economics in action.
Most people think crypto is about speculation or anonymity. Cuba proves it's about access. When your bank account is locked by a foreign power, you don't care about decentralization - you care about your kid getting medicine. This isn't crypto for degens. This is crypto for survival.
I wish more Western policymakers would look at this and realize: you can't stop people from connecting. You can only make them do it in ways you don't control. And right now, Cuba's doing it better than most.
Also, the fact that they're building a state-backed stablecoin to complement crypto, not replace it? That's the mark of a government that actually understands how money works in the real world. Not ideology. Not control. Just utility.
Brett Benton
3 11 25 / 14:34 PMThis is the most inspiring thing I've read all year. Cuba didn't ask for a seat at the table - they built their own damn table. And they're serving food.
Imagine being told you can't get money from your family, can't buy a laptop, can't pay a freelancer - and then finding a way anyway. That's not tech genius. That's human genius.
They're not trying to overthrow the dollar. They're just trying to eat. And they're winning.
Shoutout to every Cuban with a phone and a crypto wallet. You're the real pioneers.
Jeremy Jaramillo
3 11 25 / 20:55 PMIt's fascinating how necessity drives innovation more than any policy or funding ever could. The U.S. thought sanctions would crush Cuba. Instead, they forced a population to become deeply resourceful. Crypto isn't a trend there - it's infrastructure.
What's even more impressive is how the government didn't try to monopolize it or weaponize it. They created guardrails - licensing, renewable energy requirements, anti-money laundering checks - not to suppress, but to stabilize. That's governance with a purpose.
And the fact that people are using it for medical supplies, not just speculation? That's the kind of crypto adoption we should be celebrating. Not NFTs of apes. Real human impact.
I hope more countries study this. Not to copy the tech, but to learn the mindset: when you can't rely on the system, build your own - and make it work for people, not profits.
Sammy Krigs
4 11 25 / 03:12 AMok so like i read this whole thing and i think its cool but like... isnt this just a way for the cuban govt to still control everything? like they say theyre not banning it but theyre licensing everything so its not really free is it? also i think the us could shut this down if they wanted to they just dont care enough to bother. also i saw a post on reddit where someone said the mining rigs are just front for laundering money for the military. idk maybe im wrong but its sus
naveen kumar
5 11 25 / 20:08 PMLet’s be honest - this is a propaganda narrative dressed in blockchain. Cuba has no real adoption. The numbers are inflated. 200,000 users in a population of 11 million? That’s 1.8%. Hardly a revolution. The government is using this to create a facade of innovation while maintaining total control. The fact that they’re licensing exchanges means they’re monitoring every transaction. This isn’t freedom - it’s surveillance with a crypto veneer.
And let’s not pretend the U.S. sanctions are the real problem. Venezuela had the same pressures and turned to Petro - a complete failure. Cuba’s model only works because the regime is pragmatic enough to allow a limited escape valve. It’s not empowerment. It’s containment.
Also, solar-powered mining? Please. Cuba’s energy grid is crumbling. Any ‘renewable’ mining is likely running on stolen grid power or diesel backups. The whole thing is a PR stunt to attract foreign tech investors who don’t understand the reality on the ground.
Bruce Bynum
7 11 25 / 15:18 PMCuba’s doing what we all wish we could do - make tech serve people, not the other way around.
They didn’t wait for permission. They didn’t wait for a perfect system. They just made it work.
That’s the real lesson here.
Edgerton Trowbridge
7 11 25 / 15:36 PMWhile the narrative surrounding Cuba's cryptocurrency adoption is compelling and emotionally resonant, one must approach it with rigorous analytical detachment. The recognition of Bitcoin as legal tender does not equate to widespread functional integration into the national economy. The reliance on peer-to-peer platforms introduces significant counterparty risk, operational inefficiency, and vulnerability to coercion or fraud. Furthermore, the licensing regime, while ostensibly regulatory, functions as a mechanism of state surveillance and economic control under the guise of financial modernization. The absence of access to major exchanges like Coinbase or Binance is not merely a regulatory oversight - it is a structural constraint that renders the system fragile and exclusionary. The purported use of renewable energy for mining is laudable in theory, but without verifiable, independently audited data, it remains speculative. One must question whether this represents genuine innovation or merely an adaptive response to systemic isolation, with outcomes that are neither scalable nor replicable in less centralized contexts. The human element - the families receiving remittances - is undeniably poignant, but it does not negate the broader geopolitical and economic constraints that define the system's limits.
Matthew Affrunti
8 11 25 / 02:41 AMI love this story so much. It’s not about Bitcoin being the future - it’s about people refusing to be left behind.
Cuba didn’t have a choice. So they made a choice anyway.
And honestly? That’s the most powerful thing I’ve seen in tech in years.
Keep going, Cuba. You’re doing it right.
mark Hayes
8 11 25 / 23:08 PMimagine being so broke that crypto becomes your lifeline 🤯
cuba turned sanctions into a hack
no fancy apps no bank loans just people helping people
and the solar mining?? bro that’s next level
we need more of this in the world not less
also why are we still letting sanctions strangle entire populations??
Derek Hardman
9 11 25 / 20:52 PMThis is a rare example of a state successfully integrating disruptive technology without succumbing to either ideological rigidity or chaotic deregulation. The Cuban model demonstrates that regulation need not be synonymous with suppression. By establishing a licensing framework that prioritizes traceability, energy efficiency, and consumer protection, the government has created a controlled but functional ecosystem.
It is worth noting that this approach contrasts sharply with the reactive policies of nations that have banned crypto outright or attempted to replace it with centrally issued digital currencies lacking public trust. Cuba’s pragmatism - accepting crypto as a reality and shaping it to serve national needs - may offer valuable lessons for other sanctioned economies.
That said, the continued exclusion from major global exchanges remains a structural vulnerability. The system’s resilience is admirable, but its scalability is constrained by geopolitical isolation.
Eliane Karp Toledo
11 11 25 / 11:44 AMOkay but let’s be real - this whole thing is a front. The Cuban government is using crypto to launder money for the military under the guise of ‘remittances.’ The ‘licensed exchanges’? They’re all tied to GAESA. The ‘solar mining’? It’s just a cover for using grid power and selling the crypto to Russian buyers. The U.S. isn’t shutting it down because they’re letting it happen - they know it’s a trap. Once enough hard currency flows in, they’ll have leverage to destabilize the whole system from within. This isn’t innovation. It’s a slow-motion coup disguised as survival.
And don’t tell me about ‘1-2% adoption.’ That’s just the tip of the iceberg. Behind every wallet is a state monitor. Every transaction is logged. Every miner is watched. This isn’t freedom. It’s the most sophisticated surveillance state yet.
Phyllis Nordquist
11 11 25 / 23:32 PMWhile the human impact of cryptocurrency adoption in Cuba is undeniably significant, the structural framework described warrants deeper scrutiny. The Cuban Central Bank’s Resolution 215, while appearing progressive, establishes a state-monitored financial corridor that may inadvertently reinforce centralization rather than decentralization - the foundational ethos of blockchain technology. The licensing regime, though ostensibly designed for compliance and security, effectively creates gatekeepers who are subject to state influence. Furthermore, the reliance on peer-to-peer platforms introduces systemic vulnerabilities, including the absence of dispute resolution mechanisms and the potential for predatory pricing by intermediaries. The integration of renewable energy in mining is commendable, yet the lack of transparency regarding energy sourcing and carbon accounting undermines claims of sustainability. One must also consider whether this model is sustainable in the long term without access to international liquidity pools or institutional capital. While the narrative is inspiring, it is critical to distinguish between adaptive survival and systemic innovation - the former being a response to constraint, the latter requiring autonomy.
Eric Redman
13 11 25 / 07:29 AMY’all are acting like Cuba invented the wheel. This is just a desperate workaround. The government isn’t helping - they’re just letting people do what they’re already doing so they can tax it later. And don’t give me that ‘solar mining’ BS. You think Cuba has the tech to maintain solar farms? They’re running diesel generators at night and calling it ‘green.’
And the ‘1-2% adoption’? That’s just the people who can afford a phone and a VPN. Everyone else is still bartering yams.
This isn’t a revolution. It’s a Band-Aid on a bullet wound.
David Roberts
13 11 25 / 15:16 PMLet’s not romanticize this. Cuba’s crypto adoption is a symptom of systemic collapse, not a triumph of innovation. The state’s regulation isn’t enlightened - it’s a control mechanism disguised as pragmatism. Licensing exchanges gives the regime visibility into every transaction, effectively turning blockchain - a tool of decentralization - into a ledger of surveillance. The ‘solar mining’ narrative? A performative gesture to appease Western green investors. In reality, Cuba lacks the infrastructure for meaningful renewable deployment. The real story is not empowerment - it’s extraction. The regime is monetizing desperation. And the fact that major exchanges won’t touch it? That’s not a failure of policy - it’s a failure of legitimacy. Crypto is not liberation here. It’s the last resort of a population trapped between sanctions and surveillance.
Monty Tran
13 11 25 / 23:54 PMThey call it innovation. I call it desperation dressed in blockchain.
The government doesn’t support crypto - they tolerate it so they can monitor it.
And don’t pretend the solar mining is real. Cuba doesn’t have the grid to support it.
This isn’t a model. It’s a last stand.
Brian McElfresh
14 11 25 / 00:36 AMok so here’s the thing nobody’s talking about - what if this is all a psyop? what if the us is letting this happen on purpose? like imagine the us knows that if cuba gets too good at crypto they’ll become a hub for sanctions evasion and then all the russian and iranian money will flow through cuba and then the us can use that as an excuse to invade under the guise of ‘cracking down on crypto terrorism’ or something. also i read on 4chan that the cuban govt is using blockchain to track dissidents by linking their wallets to their national id numbers. and the ‘remittances’? totally fake. its all just money laundering for the military and the real crypto is being sent to venezuela and north korea. also i heard the sun doesnt even shine in cuba enough for solar mining so its all just a scam. and the 1-2% adoption? that’s just the people who work for the state. everyone else is still using cash and barter. this is the most dangerous thing i’ve ever seen. we’re being lied to.
Hanna Kruizinga
15 11 25 / 21:20 PMSo let me get this straight - a country with no running water and spotty Wi-Fi is now a crypto powerhouse? Yeah right. This is just media spin. I bet most of those ‘users’ are just teenagers using public Wi-Fi to buy NFTs of Fidel Castro. And ‘licensed mining’? Please. They’re running generators in basements and calling it ‘renewable.’
And don’t tell me this is about survival. If it were, why aren’t they using it to buy food? They’re buying laptops and Adobe licenses. This isn’t survival. It’s privilege with a side of propaganda.
David James
16 11 25 / 19:00 PMIt’s wild to think that the one country the U.S. tried to isolate the most is now one of the most crypto-savvy places on Earth. They didn’t get rich from crypto - they got free.
Imagine your family’s only way to get money is through a phone and a QR code. No banks. No middlemen. Just you and the blockchain.
This isn’t just tech. It’s dignity.
And honestly? The U.S. should be learning from this, not pretending it doesn’t exist.
Jason Coe
16 11 25 / 22:33 PMJust read the comment from 884 - the ‘propaganda narrative’ guy. Dude, you’re missing the point. The fact that you’re even arguing about whether it’s ‘real adoption’ proves how disconnected you are from real human need. People aren’t using Bitcoin because they believe in decentralization. They’re using it because their child needs insulin and the bank won’t let them receive it. That’s not a ‘narrative.’ That’s a mother’s reality.
And yeah, the government is watching. But what choice do they have? If they banned it, people would still use it - just with no safety nets. At least now, if someone gets scammed, there’s a licensed exchange to report it to. At least now, the solar rigs are reducing strain on the grid. At least now, a freelancer in Santiago can get paid without waiting three months for a bank transfer.
You want perfect? Go live in a country where the system works. Then come back and tell me how to fix it.