Topic: Benefits of bitcoin(cryptocurrency) to fiat currency transaction? How easier? - page 2. (Read 285 times)
July 12, 2018, 07:14:32 AM
Replying to the OP title, there's a lot of hassle when travelling into another country, specially in what currency will you be using. Credit cards do the trick, but most of the companies ask for some form of interest which doesn't sound good in any way. Bitcoin solves that problem and can be used anywhere provided that shops and stores recognize it as one of the payment options. Sadly though, not much stores and outlets consider looking up on cryptocurrencies as one form of payment due to its volatility and most of the concierges such as Bitpay also charges an interest when using their service.
July 12, 2018, 06:57:06 AM
One of the downsides is that transactions may be too easy. What I mean by this is that you can enter in the wrong sending address and have no chance to recover your funds. Always triple check the amount you are sending and if its to the right address. There is even malicious software that can automatically change the address without your consent.
July 12, 2018, 06:52:05 AM
The users will have a decentralized system. They will even have protection of the privacy and they will have the freedom of their respective transactions. Apart from that, it is easy to use, portable and durable and the transactions can be done quickly. And lastly, it reduced fraudulent activities from it.
July 12, 2018, 01:26:34 AM
Cryptocurrency have many benefit over fiat which have made it quite popular and peoples choice. Cryptocurrency have solved remittance issues and making it easier to move money around faster and cheaper. Remittance have been a problem and those that have send money to loved ones in a different country will know better. Cryptocurrency also make it easier to hold your money without third party while you gain little or no incentives while holding it.
July 12, 2018, 12:22:40 AM
Crypto currency is not yet being widely used as a method of exchange, this makes people to convert their coins to fiat currency. while converting the coin holder should choose good exchange sites like Coinbase or Gemin; mentioned by 9one of the user in the post.the user should also be careful of the time and fees needed.
July 11, 2018, 04:13:56 PM
Well if you want to convert your fiat to any cryptocurrency then it is really great for you. You are investing here and can get much profit from here. It is really easy to do this and any exchanges like binance etc can help you with that.
July 11, 2018, 03:19:13 PM
Bitcoin is a worldwide digital currency. You can transaction bitcoin from one country to another country. But you can’t do this with fiat money. Because this money makes for only one country and it is not acceptable by other country.
Yes, every country they have own currency. Bitcoin is a digital currency you can use anywhere and anytime you want but you need first to convert bitcoin money into cash or currency in what country you like to transact. July 11, 2018, 02:54:20 PM
Bitcoin is a worldwide digital currency. You can transaction bitcoin from one country to another country. But you can’t do this with fiat money. Because this money makes for only one country and it is not acceptable by other country.
July 11, 2018, 02:53:55 PM
Well, that's good because very few people think about it as the network mostly refunds your money into your Bitcoin wallet. I do not like that physical currency because it involves a lot of politics and government stuff. They charge us a lot of tax for doing nothing suggest a charged tax for transferring money but they do not transfer any money from anywhere so they literally making money for nothing. I think this type of banking system should be closed because they are not providing their service for which they wear made.
July 11, 2018, 02:29:01 PM
I've never had good relation with banking services. Indeed I don't even know how to use the Home Banking feature properly. For me it's much easier to handle with a crypto wallet that with shitty IBANSA and have to talk with a employee on phone when I have any trouble
July 11, 2018, 02:17:13 PM
Yes i agree. Besides, I think bitcoin doesn't have any conversion of money, wherever you go to this world. So, it is very easy to use
July 10, 2018, 08:47:55 AM
Conversion to fiat is mostly beneficial to protect oneself from the risk of price fluctuations. You can use exchanges like Coinbase and Gemini to turn any cryptos to fiat. If you are looking to trade your Bitcoin directly for physical cash then LocalBitcoins.com may be a better solution. But most importantly do mind the fees and also the timing they take for conversion. So read the FAQ's of native sites well before using any services.
July 10, 2018, 08:46:54 AM
But come to think of it, those times that you have a very clog transaction network hmmmm, you know things might get worse, loose some money, get frustrated, stressout, get impatient, curious about when and when is the transaction going to go through.
July 10, 2018, 08:40:21 AM
Even since i know about cryptocurrency, i never stress out about the transaction, even though there might be some day that there going to be clog transaction network but i never regret it
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