Crypto Remittance Calculator for Cuba
Send Money to Cuba via Cryptocurrency
Calculate how much money you can send to Cuba using cryptocurrency. Based on current regulated exchange rates and fees for licensed providers.
Equivalent in Cuban Pesos:
0.00 CUP
Based on current exchange rate: 1 USD = 24.00 CUP
Total fees: 0.00 USD
Note: This calculator uses average rates for licensed Cuban cryptocurrency providers. Actual rates may vary between exchanges. Fees typically range from 2-8% of the transaction amount.
Why This Matters:
Since Western Union closed in 2020 and PayPal stopped working for Cubans, cryptocurrency has become a crucial lifeline for families to send money. The Cuban government's Resolution 215 allows regulated crypto transactions, making this a legal and reliable method.
Many people think Cuba bans cryptocurrency. That’s not true. In fact, Cuba is one of only two countries in the world that officially lets people use Bitcoin and other digital currencies as legal payment methods. The confusion comes from how harsh U.S. sanctions have made life for Cubans - and how crypto became a lifeline when banks shut down.
Why the Myth of a Ban Exists
The idea that Cuba prohibits crypto started because, before 2021, there was no clear law about it. People were using Bitcoin anyway - sending money from family abroad, buying goods online, paying for services. But without rules, the government didn’t officially recognize it. That gray zone made outsiders assume it was illegal. Then, when the government stepped in with rules, some media outlets misread the move as a crackdown instead of a legalization.The Real Turning Point: Resolution 215
On August 20, 2021, Cuba’s government published Resolution 215 in its Official Gazette. This wasn’t a ban. It was a rulebook. The Central Bank of Cuba was given the power to license companies that handle cryptocurrency transactions. The reason? "Reasons of socio-economic interest." In plain terms: Cubans needed a way to survive. Before this, Western Union closed all its offices in Cuba in 2020. PayPal, Stripe, and most credit cards stopped working for Cuban users. U.S. sanctions, in place since 1962, blocked access to global financial systems. People couldn’t receive money from relatives in Miami, New York, or Madrid. Crypto filled the gap.How It Works Today
Now, any business in Cuba that wants to accept Bitcoin, Ethereum, or other digital currencies must get a license from the Central Bank. They have to follow strict anti-money laundering (AML) rules. That means knowing who their customers are, reporting suspicious activity, and keeping records. Licenses are granted for one year at a time, and renewal depends on compliance. It’s not free for anyone to set up a crypto exchange or wallet service. The government screens applicants carefully. But if you pass, you can legally operate. As of 2025, dozens of licensed providers are active across Havana, Santiago, and other major cities.Who’s Using Crypto in Cuba?
About 100,000 to 200,000 Cubans - roughly 1% to 2% of the population - use cryptocurrency regularly. That might sound small, but consider this: mobile internet only became widely available in 2019. Before that, most people didn’t even have smartphones. Now, with cheap data plans and peer-to-peer apps, crypto adoption is growing fast. People use it for three main things:- Receiving remittances from family overseas
- Buying products from international online stores
- Paying for services like web design, tutoring, or translation without banks
Why Cuba Chose Regulation Over Ban
China banned crypto. India taxed it heavily. El Salvador made Bitcoin legal tender. Cuba did something different. It didn’t fight the tide - it built a dam to control it. The government didn’t do this because they love blockchain tech. They did it because they had no choice. Sanctions crippled their economy. The state needed to give people a way to access goods, services, and income without breaking international law themselves. Regulating crypto let them monitor flows, prevent fraud, and still let citizens survive. Experts call it a pragmatic move. Unlike authoritarian regimes that crush innovation, Cuba saw a tool and decided to use it - carefully.The Role of U.S. Sanctions
You can’t understand Cuba’s crypto policy without understanding the U.S. embargo. The Cuban Assets Control Regulations (CACR), part of 31 CFR 515, freeze Cuban assets under U.S. jurisdiction. They block Cuban banks from connecting to the SWIFT system. They prevent American companies from doing business with Cuban entities. This isn’t just about money. It’s about survival. Cubans can’t buy medicine from U.S. suppliers. They can’t get spare parts for equipment. They can’t even use PayPal to pay for a Zoom call with a doctor abroad. Crypto became the workaround. The U.S. government hasn’t changed its stance. But Cuba’s response shows how sanctions can backfire - pushing people toward decentralized systems they can’t control.Challenges Still Facing Users
It’s not perfect. Internet access is still slow and expensive. Many Cubans rely on public Wi-Fi spots, where speeds drop during peak hours. Not everyone understands how wallets or private keys work. Scams exist. Some people lose money by sending crypto to the wrong address. Also, converting crypto to pesos can be tricky. Licensed exchanges charge fees. Some people trade peer-to-peer on Telegram or WhatsApp, but that’s riskier. The government is slowly improving infrastructure, but progress is uneven.
What This Means for the Future
Cuba isn’t planning to ban crypto. It’s planning to expand it. The Central Bank is still issuing licenses. New service providers are entering the market. More Cubans are learning how to use digital wallets. The government’s long-term goal isn’t to replace the peso - it’s to give people access to the global economy. Other nations under sanctions - like Venezuela, Iran, or North Korea - are watching closely. If Cuba’s model works, it could become a blueprint. Regulated crypto as a tool for economic resilience, not rebellion.How It Compares to Other Countries
| Country | Crypto Status | Primary Motivation |
|---|---|---|
| Cuba | Legal and regulated | Survival under sanctions |
| China | Banned | Control over capital flow |
| El Salvador | Legal tender | Economic modernization |
| India | Legal but heavily taxed | Revenue generation |
| United States | Legal but fragmented regulation | Financial oversight |
What’s Next?
Expect more licensed crypto platforms to launch. Expect better education programs in schools and community centers. Expect the government to push for faster, cheaper internet so more people can join. One thing won’t change: the U.S. sanctions. Until those loosen, crypto will remain a critical tool for Cuban families. Not because it’s trendy. Because it’s necessary.Is cryptocurrency illegal in Cuba?
No, cryptocurrency is not illegal in Cuba. Since August 2021, the Cuban government has officially regulated digital currencies through Resolution 215. Individuals and businesses can legally use Bitcoin, Ethereum, and other cryptocurrencies as payment if they comply with licensing and anti-money laundering rules set by the Central Bank of Cuba.
Can I send Bitcoin to someone in Cuba?
Yes, you can send Bitcoin or other cryptocurrencies to someone in Cuba. Many Cubans rely on crypto remittances from family abroad, especially since Western Union and PayPal no longer operate there. The recipient can convert the crypto to Cuban pesos through a licensed exchange or peer-to-peer platform. Just make sure they have a secure wallet and understand how to receive funds safely.
Do Cuban banks accept cryptocurrency?
Cuban state banks do not directly handle cryptocurrency. However, licensed third-party service providers - approved by the Central Bank - offer crypto-to-peso conversion services. These companies act as bridges between digital assets and the national currency. People use them to deposit crypto and withdraw cash or transfer funds to their Cuban bank accounts.
Why did Cuba allow crypto when other countries banned it?
Cuba allowed crypto because it had no other choice. Decades of U.S. sanctions cut off access to global banking, payment systems, and remittance networks. With Western Union closed and credit cards blocked, crypto became the only reliable way for families to send money. Rather than fight this reality, the government chose to regulate it - ensuring oversight while letting citizens survive.
Is crypto widely used in Cuba?
About 1% to 2% of Cuba’s population - roughly 100,000 to 200,000 people - use cryptocurrency regularly. While that’s a small percentage, it’s significant given the country’s limited internet access and economic isolation. Adoption is growing quickly, especially among younger people and those with family abroad. For many, crypto isn’t an investment - it’s a necessity.
Shane Budge
So Cuba didn't ban crypto, they just made it legal to survive. That's wild.
sonia sifflet
This is pure propaganda. The Cuban regime is just trying to legitimize capital flight while pretending to be pragmatic. They're still a dictatorship that controls every dollar. Don't be fooled by the 'regulation' narrative.
Regina Jestrow
I had a friend in Havana last year who got her first Bitcoin payment for translating documents. She cried. Not because she got rich, but because she finally got paid without waiting three weeks for a wire that never came. This isn't about tech. It's about dignity.
Richard T
Really appreciate this breakdown. A lot of people don't realize that when Western Union pulled out, it wasn't just an inconvenience-it was a humanitarian crisis. Families were cut off from basic groceries, medicine, school supplies. Crypto didn't fix the embargo, but it gave people a backdoor to breathe. That’s not innovation-that’s survival.
Frank Cronin
Oh please. Cuba 'regulates' crypto like a drunk guy regulates his own vomit. They don't care about AML-they care about control. Every transaction is tracked. Every wallet is monitored. This isn't freedom. It's surveillance with a side of Bitcoin.
nicholas forbes
I get why people are skeptical, but if you’ve ever tried to send money to family in a sanctioned country, you know this isn't about ideology. It's about who gets to eat tomorrow. The Cuban government didn't choose crypto because they love decentralization-they chose it because they had zero other options.
Sandra Lee Beagan
As someone who's worked with Cuban tech entrepreneurs through Canadian NGOs, I can confirm: the licensed exchanges are actually pretty well-run. The AML compliance is stricter than some U.S. startups. The real story here isn't crypto-it's how people adapt when the system fails them. Cuba's doing what every oppressed economy does: they're hacking the rules.
jonathan dunlow
Let me tell you something-this is the most beautiful thing I’ve seen in global economics this year. People in Cuba aren't buying Dogecoin to get rich. They're using Bitcoin to pay for their kid’s asthma inhaler. They’re not speculating-they’re surviving. And guess what? The government didn’t crush it. They didn’t ban it. They didn’t tax it into oblivion. They let people live. That’s not just smart policy. That’s human.
rita linda
The U.S. sanctions are the root cause of this entire mess. You can't blame Cuba for using tools that aren't blocked by your own foreign policy. If you think this is a crypto success story, you're missing the point. It's a failure of American hegemony. We created this problem, and now we're surprised they found a workaround? Pathetic.
Scott Sơn
Imagine being so desperate that your only lifeline is a blockchain. Not a job. Not a loan. Not a government program. A digital wallet. That’s the future, folks. And it’s not in Silicon Valley. It’s in a Havana apartment with 2G Wi-Fi and a cousin in Miami sending $50 in ETH.
Cristal Consulting
This is actually a really hopeful example. When institutions fail, people build their own. Cuba didn't wait for permission. They built a legal bridge. Other countries should take notes. Not because crypto is magic-but because human need is universal.
Stanley Wong
I think what's really interesting is how this isn't about ideology at all. It's about practicality. The government didn't wake up one day and say 'let's embrace blockchain'-they woke up and saw their people starving and said 'how do we let them eat without violating sanctions?' And they found a way. That's not revolutionary. That's responsible. Maybe we should be more like that.
Ben VanDyk
The article says '1% to 2% of the population' uses crypto. That's 100k–200k people. But Cuba's population is 11 million. So less than 2% are using it. That means 98% aren't. So is this really a national solution or just a niche workaround for the tech-savvy elite?
Lore Vanvliet
I'm so tired of people acting like Cuba is some crypto utopia. They still lock people up for dissent. They still control the press. They still ration food. Don't romanticize a dictatorship because they let people send Bitcoin. That doesn't make them good. It makes them desperate.
Brooke Schmalbach
Let's be real: if this were Venezuela or Iran, you'd be screaming about 'authoritarian crypto.' But because it's Cuba, suddenly it's 'pragmatic innovation.' Double standards are alive and well. The regime is still a regime. Crypto doesn't change that.
Martin Hansen
Look, I get it. You're all so impressed that a communist country didn't ban crypto. Newsflash: they didn't do it for you. They did it because their economy is in shambles and they need cash. This isn't a victory for decentralization. It's a victory for desperation.
Nicole Parker
I think what's beautiful here is how this isn't about politics. It's about mothers in Santa Clara getting money from their sons in Miami. It's about teachers paying for internet so they can tutor kids online. It's about people refusing to let a broken system kill their dignity. The government didn't create this. People did. The state just gave them a little space to breathe.
Tom Van bergen
The real question isn't whether Cuba allows crypto. It's whether we're ready to admit that sanctions don't work. They don't topple regimes. They just make people suffer. And sometimes, in the cracks of that suffering, people build something beautiful. Maybe the lesson isn't about blockchain. Maybe it's about humility.
miriam gionfriddo
I read this whole thing and all I can say is… the spelling on the table is wrong. It says 'Cuban Assets Control Regulations (CACR)' but it's CACR not CACR. Also the word 'lifeline' is spelled right but it should be 'life line' and I'm just saying because I care about accuracy and this post is so important and I don't want people to think it's sloppy because it's not but it is and I'm sad
Mariam Almatrook
One cannot help but observe the profound irony inherent in the Cuban state's endorsement of decentralized financial instruments, which, by their very nature, subvert centralized authority. One might reasonably infer that such a policy constitutes a tacit admission of institutional failure, albeit cloaked in the veneer of pragmatic governance. The spectacle of a totalitarian regime legitimizing peer-to-peer value transfer-while simultaneously maintaining ironclad control over all other aspects of civic life-is nothing short of dystopian theater.