please pen down all the advantages of bitcoin over traditional bank system. Also mention if bitcoin system is adoptable for bank system.
You can see my post about this.... https://bitcointalksearch.org/topic/--1672981
Topic: advantages of bitcoin - page 10. (Read 14754 times)
You can see my post about this.... https://bitcointalksearch.org/topic/--1672981
please pen down all the advantages of bitcoin over traditional bank system. Also mention if bitcoin system is adoptable for bank system.
Here are the advantages of bitcoin over a banking system.
-Decentralized, Bitcoin isnt owned by a third party, you are always in control of your funds.
-Fairly anonymous
-Extremely secure
-Open 24/7, no delays in transactions
-Lower fees compared to e-transfers
I like those advantages of bitcoin especially the lower fees. Because if you have someone or a relative that lives offshore.
And you are sick of bank transfer services or using a money transfer because of their very somehow expensive fees.
Bitcoin is the best choice for it, just try to convert it first.
For me the main advantage is the possibility to send packs of 10000 satoshi to my members...
this would be almost impossible with other ecurrencies because the fees would almost be higher than the pack...
Yes, we can even spend the fees according to our need, which other currency allows such facilities ? I mean we know that the transaction is needed to confirm fast the we pay 0.0002 and if we think no hurry then we can pay 0.00002 , I have in my life never seen anything so flexible and controlled by users.this would be almost impossible with other ecurrencies because the fees would almost be higher than the pack...
For me the main advantage is the possibility to send packs of 10000 satoshi to my members...
this would be almost impossible with other ecurrencies because the fees would almost be higher than the pack...
Yes, we can even spend the fees according to our need, which other currency allows such facilities ? I mean we know that the transaction is needed to confirm fast the we pay 0.0002 and if we think no hurry then we can pay 0.00002 , I have in my life never seen anything so flexible and controlled by users. this would be almost impossible with other ecurrencies because the fees would almost be higher than the pack...
For me the main advantage is the possibility to send packs of 10000 satoshi to my members...
this would be almost impossible with other ecurrencies because the fees would almost be higher than the pack...
Exactly, in bitcoin you will only pay a lesser charge regardless of your number of transactions. And it's fast.this would be almost impossible with other ecurrencies because the fees would almost be higher than the pack...
And with xapo wallet I pay nowadays 0 fees...
please pen down all the advantages of bitcoin over traditional bank system. Also mention if bitcoin system is adoptable for bank system.
Here are the advantages of bitcoin over a banking system.
-Decentralized, Bitcoin isnt owned by a third party, you are always in control of your funds.
-Fairly anonymous
-Extremely secure
-Open 24/7, no delays in transactions
-Lower fees compared to e-transfers
so much advantages of bitcoin
bitcoin is good investment
bitcoin is freedom because bitcoin can be used when anytime we need money
bitcoin is fast transaction
And now you can also get debit cards with bitcoins, I am not naming any particular ones because then I would be liable if they scam or something. The best part that I feel with bitcoins is that I can transfer 100$ to anyone without even my parents sitting near to me, while with paypal I will need some ID proofs and all to make a account. bitcoin is good investment
bitcoin is freedom because bitcoin can be used when anytime we need money
bitcoin is fast transaction
Traditional banks have full control over our money and most of the banks use our money to give out loan and earn big profit while only sharing really small amount with us. As well as banks are vulnerable towards hack, robbery, manipulation, system malfunction which can make us unable to access our funds where as with bitcoin we have full control of our money and we can use it whenever we want and as being decentralized network bitcoin network can't be down for even a second.
Bank hacks and robberies as well as entire system malfunction don't really matter in a centralized banking environment. Disputed or faulty transactions can be reversed within days, and your deposits are insured from being stolen. With payment card providers like Visa or MasterCard you can even request a chargeback if you feel you have been cheated by a fraudulent vendor. But with Bitcoin, if you just send your bitcoins to a wrong address, your money is gone for good, and all you can do is humbly accept the loss and bite the bullet.
Traditional banks have full control over our money and most of the banks use our money to give out loan and earn big profit while only sharing really small amount with us. As well as banks are vulnerable towards hack, robbery, manipulation, system malfunction which can make us unable to access our funds where as with bitcoin we have full control of our money and we can use it whenever we want and as being decentralized network bitcoin network can't be down for even a second.
Bitcoin have many advantages than other traditional currency systems.
In bitcoin exchange, there is no third party occurrence, and the ultimate advantage is very fast transaction with a low amount of fees.
before a decade it was not at all possible to make a transaction like this.
And when it comes to security systems, no one can steal your assets unless you publicly share your wallet address.
No taxation, Low transaction costs because of decentralization.
In bitcoin exchange, there is no third party occurrence, and the ultimate advantage is very fast transaction with a low amount of fees.
before a decade it was not at all possible to make a transaction like this.
And when it comes to security systems, no one can steal your assets unless you publicly share your wallet address.
No taxation, Low transaction costs because of decentralization.
Bitcoin is game changer for me because of its simplicity and bunch advantages. But with bank account i fear of get hacked and other problems but with bitcoin there is no such problems. I could use it anonymous and with faster speed and with less transaction.
How do a bank get hacked? I think they don't will make you lose your money since you paid some taxes to banks so when some shit happen, they can cover it instead of bitcoin exchanges that will never cover your loses.
Bitcoin still haveso many advantage. We do not have to compare bitcoin with bank becouse both are different. Bitcoin is a currency but bank is a corporation wich save our money ( currency ), bank give us guarantee of security but we have to pay monthly cost. But bitcoin is a good currency and an investment becouse the price is always rise.
Another advantage from bitcoin which I can cite in my opinion is that it gives us opportunity to earn. From signature campaign,to cryptocurrency trading. It amazed me with this kind of earning online where I can easily transfer to my local wallet and exchange to local currency.
as i am living in a backward hilly area. in my area a few people were know about bitcoin, but now when the number of bitcoin users is increasing in my area, therefore it is becoming more advantageous for me. now i can refill my mobile credit using bitcoin, and hope that very soon we will be able to do shopping using bitcoin. You may ask your close friends about Bitcoin and whether they actually use it, or they may tell you themselves just like you yourself can make a clean breast of being a Bitcoin supporter. But would you tell a stranger or even a nodding acquaintance whom you encounter in church on Sunday mornings about that? I wouldn't, and I think most wouldn't either. My point is that you can't be sure that people around you didn't really hear about Bitcoin or don't use it for the simple reason they may not want to elaborate on this, and you won't be able to find out.
People may or may not be aware about bitcoins and we cannot judge whether they are using it or not as many people prefer not to disclose the fact that they are using bitcoins but if they are aware about bitcoins then its very hard to keep yourself away from it.
Another advantage from bitcoin which I can cite in my opinion is that it gives us opportunity to earn. From signature campaign,to cryptocurrency trading. It amazed me with this kind of earning online where I can easily transfer to my local wallet and exchange to local currency.
as i am living in a backward hilly area. in my area a few people were know about bitcoin, but now when the number of bitcoin users is increasing in my area, therefore it is becoming more advantageous for me. now i can refill my mobile credit using bitcoin, and hope that very soon we will be able to do shopping using bitcoin. You may ask your close friends about Bitcoin and whether they actually use it, or they may tell you themselves just like you yourself can make a clean breast of being a Bitcoin supporter. But would you tell a stranger or even a nodding acquaintance whom you encounter in church on Sunday mornings about that? I wouldn't, and I think most wouldn't either. My point is that you can't be sure that people around you didn't really hear about Bitcoin or don't use it for the simple reason they may not want to elaborate on this, and you won't be able to find out.
Another advantage from bitcoin which I can cite in my opinion is that it gives us opportunity to earn. From signature campaign,to cryptocurrency trading. It amazed me with this kind of earning online where I can easily transfer to my local wallet and exchange to local currency.
as i am living in a backward hilly area. in my area a few people were know about bitcoin, but now when the number of bitcoin users is increasing in my area, therefore it is becoming more advantageous for me. now i can refill my mobile credit using bitcoin, and hope that very soon we will be able to do shopping using bitcoin. WE are on the same situation too on where there are only a few poeple only knew about bitcoin in my place but as the time goes by the adoption really increases. Bitcoin have many advantages compared to traditional ways of banking system. Less hassle and lower transaction fees and thats what i love with bitcoin.
Very true. Those reasons should be lifted up. Yes we know as bitcoin as an earning way also and it might get some attraction with users but let us not forget the true reasons behind it.
Another advantage from bitcoin which I can cite in my opinion is that it gives us opportunity to earn. From signature campaign,to cryptocurrency trading. It amazed me with this kind of earning online where I can easily transfer to my local wallet and exchange to local currency.
as i am living in a backward hilly area. in my area a few people were know about bitcoin, but now when the number of bitcoin users is increasing in my area, therefore it is becoming more advantageous for me. now i can refill my mobile credit using bitcoin, and hope that very soon we will be able to do shopping using bitcoin. WE are on the same situation too on where there are only a few poeple only knew about bitcoin in my place but as the time goes by the adoption really increases. Bitcoin have many advantages compared to traditional ways of banking system. Less hassle and lower transaction fees and thats what i love with bitcoin.
Another advantage from bitcoin which I can cite in my opinion is that it gives us opportunity to earn. From signature campaign,to cryptocurrency trading. It amazed me with this kind of earning online where I can easily transfer to my local wallet and exchange to local currency.
as i am living in a backward hilly area. in my area a few people were know about bitcoin, but now when the number of bitcoin users is increasing in my area, therefore it is becoming more advantageous for me. now i can refill my mobile credit using bitcoin, and hope that very soon we will be able to do shopping using bitcoin. 
Another advantage from bitcoin which I can cite in my opinion is that it gives us opportunity to earn. From signature campaign,to cryptocurrency trading. It amazed me with this kind of earning online where I can easily transfer to my local wallet and exchange to local currency.
The main advantage is anonymity so no one can see the details of parties involved in the transaction even though all the details of transactions are public. Another advantage is speed and no third party interference so bitcoin transactions are safe and fast as compared to traditional banking system, we don’t have to depend on third parties like banks in order to make any transaction and last but not least is cheaper fees when it comes to international transfers.
The biggest advantage in my opinion is to not have to worry about skimmers etc. I never walk around with more than $100 on my debit account.
If bitcoins were accepted by a majority of stores, I would gladly skip down the streets with 100+ bitcoins in my paper wallet
If bitcoins were accepted by a majority of stores, I would gladly skip down the streets with 100+ bitcoins in my paper wallet
Using bitcoin in any kind of transaction is completely anonymous and it is the one of the advantages of bitcoin. This is the most reason why people are using bitcoin, because they can freely do whatever they want because they are anonymous in virtual world, some of them are using bitcoin to buy those illegal stuff like drugs and so on. Bitcoin is also fast when it comes on buying stuff online, this is another reason why people do love bitcoin, because it can be easily process and transact in the virtual world without any hassle.
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