Topic: It's good that financial instutions Understood that they need to use crypto (Read 610 times)
November 05, 2023, 01:35:17 AM
Of course, it's important that financial institutions and all organizations understand that they need to use crypto. At least they need to be open about this and give it a try. Because then only the world will open up to crypto, and the world leaders will be pressured to take a step on this matter; otherwise, it will take some more time to reach that. When that happens, we can use this market without any hesitation and do not worry about any volatility in the market. The opportunity that this platform gives is unbelievable when it is approved and gets a green signal.
September 20, 2023, 03:24:40 AM
For ETH, there is only one complaint, namely gas fees and this has always been very familiar/known for requiring quite high fees and tron is very inversely proportional. That's if possible. I think both ETH and TRX each have their own advantages. It's up to the financial institutions themselves to choose and determine which one is the most profitable to enter. if it's only the 2 items you mentioned above
September 19, 2023, 02:14:46 PM
I agree with you regarding on the actual question that should be raised. As we all know some institutions prefer one over the other due to various reasons, including how beneficial it will be for them and if it is legally allowed and accepted in their region. After all, no institution would wish to adapt a system that will put them against the law, risking legal charges.
The use of bitcoin is not allowed by some institutions because of illegal activities and the leaders of countries also not allow it as the citizens will directly involved in those activities through bitcoin which are not consider as good for country.
Institutions work according to the rules of country so they will never violate the laws which are set by government and if bitcoin is not accepted legally then no one can use it until a government allow you to do so. If it become legally accepted in all countries then there is a hope that all institutions will only accept bitcoin because of its successful rate.
September 17, 2023, 07:01:03 AM
Many financial institutions are indeed aware of the need to use crypto, because after all, it is individuals who run these institutions. The question is which kind of Crypto would be of uttermost benefit both in terms of stabiliy, demand, future potential? The answer of if it is allowed in the region is also important because where a financial institution violates the countries code of financial practices, such an institution would face lawsuit and charges against it.
Also the need to dedicate some funds to maintain and upgrade security around the crypto investment will be of concern mostly with the recent cases of hackers tempering with assets on exchanges and anywhere they find crumbs of careless crypto left unattended to.
I agree with you regarding on the actual question that should be raised. As we all know some institutions prefer one over the other due to various reasons, including how beneficial it will be for them and if it is legally allowed and accepted in their region. After all, no institution would wish to adapt a system that will put them against the law, risking legal charges. Also the need to dedicate some funds to maintain and upgrade security around the crypto investment will be of concern mostly with the recent cases of hackers tempering with assets on exchanges and anywhere they find crumbs of careless crypto left unattended to.
September 17, 2023, 02:49:21 AM
I'd rather avoid the use of Paypal stablecoin. Since there are already stablecoins in the market. I do not know but I am a bit skeptical about using the Paypal stablecoin probably because of the previous bad news about PayPal freezing its customer funds. Aside from that using USDT, BUSD or USDC is convenient for me since I do not have to worry about since I have been using them for years now.
-snip-
Quite a basic concern, I am also skeptical about using Paypal even though Paypal now has PYUSD which is PayPal's stablecoin. it is better to replace existing stablecoins without the possibility of being frozen. -snip-
Paypal's stablecoin also uses the Ethereum network, but Ethereum transaction fees will also be more expensive when the gas fee goes up and there are many networks that have cheaper gas fees.
So it's not good enough for my use because of the transaction fees.
I find their stablecoin being just like a CBDC which is completely centralized, they track your transactions, they know your wallet balance and how much money you hold in their stablecoin, they can even freeze or confiscate your funds, and I've never been a fan of this much centralization and cryptocurrency is not for this.
September 16, 2023, 08:26:09 PM
The question is which kind of Crypto would be of uttermost benefit both in terms of stabiliy, demand, future potential? The answer of if it is allowed in the region is also important because where a financial institution violates the countries code of financial practices, such an institution would face lawsuit and charges against it.
Actually, the market has developed a lot, the positivity and benefits it brings are probably the reasons for individuals or organizations to seek it out more. But the obvious story is that it is not so popular that everyone knows and accepts it, the issue of legal corridors in areas that are not yet uniform, is a barrier but also a point to hope for the future cohesion of the regions through crypto.Also the need to dedicate some funds to maintain and upgrade security around the crypto investment will be of concern mostly with the recent cases of hackers tempering with assets on exchanges and anywhere they find crumbs of careless crypto left unattended to.
Yep, I agree because it is an important issue not only for the cryptocurrency sector, where we need to have a sufficiently secure. I think the main factor is still our initial awareness of it, and it is necessary to disseminate knowledge to newcomers, as well as surrounding developers also need to have assurance about our services. But there are really many attacks in the crypto field and the level of damage is huge. After each such bad event, learning lessons and correcting mistakes is what we will pay attention to. 
September 16, 2023, 04:05:02 PM
Many financial institutions are indeed aware of the need to use crypto, because after all, it is individuals who run these institutions. The question is which kind of Crypto would be of uttermost benefit both in terms of stabiliy, demand, future potential? The answer of if it is allowed in the region is also important because where a financial institution violates the countries code of financial practices, such an institution would face lawsuit and charges against it.
Also the need to dedicate some funds to maintain and upgrade security around the crypto investment will be of concern mostly with the recent cases of hackers tempering with assets on exchanges and anywhere they find crumbs of careless crypto left unattended to.
Also the need to dedicate some funds to maintain and upgrade security around the crypto investment will be of concern mostly with the recent cases of hackers tempering with assets on exchanges and anywhere they find crumbs of careless crypto left unattended to.
September 16, 2023, 04:03:19 PM
Each financial institutions has their own budget, plans and how they want to run their financial economy successfully, we don't have to persuade any into choosing any means they have adopted to use as their own medium of payment until their eyes open to see some things unclear to their visions to know the difference between what they are using now and that which they are missing out, maybe in some cases, we should not always think about our own self alone, but other things tide to making decisions by these institutions.
Much depends on economic sense. Cryptocurrencies offer mostly low transaction fees and minimal barriers to cross-border payments. This is a huge advantage, so anyone who can count money will take advantage of it. Large institutions know how to count money
September 16, 2023, 03:30:47 PM
Yes paypal use crypto but instead of eth many users was expecting the TRON blockchain its faster cheaper and more used.
Eth transactions still too expensive i hope they start use TRON soon
Eth transactions still too expensive i hope they start use TRON soon
Each financial institutions has their own budget, plans and how they want to run their financial economy successfully, we don't have to persuade any into choosing any means they have adopted to use as their own medium of payment until their eyes open to see some things unclear to their visions to know the difference between what they are using now and that which they are missing out, maybe in some cases, we should not always think about our own self alone, but other things tide to making decisions by these institutions.
September 16, 2023, 03:20:07 AM
Yes paypal use crypto but instead of eth many users was expecting the TRON blockchain its faster cheaper and more used.
Eth transactions still too expensive i hope they start use TRON soon
Eth, tron, or even bsc, whichever one they choose, is in their own selfish interest and not for the growth of the crypto space; what they are after is what can serve their business better and nothing more than that.Eth transactions still too expensive i hope they start use TRON soon
And beside, it’s no longer news that PayPal was already crypto-friendly since their customers were able to buy crypto using the account and withdraw it to their private wallet.
If PayPal was indeed targeting increased usage of crypto, they could have made an open source offer and allowed the community to share their ideas based on what they felt, or better yet, they could have made bitcoin their overarching crypto choice rather than making a move for their own stable coin.
What’s the point of all platforms and crypto exchanges having their own stable coin? Is there any special purpose that one will serve that the other cannot?
September 16, 2023, 02:10:03 AM
Yes paypal use crypto but instead of eth many users was expecting the TRON blockchain its faster cheaper and more used.
Eth transactions still too expensive i hope they start use TRON soon
Bitcoin lightning network bitcoin transaction fees are cheaper and faster than ethereum and tron transaction fees. Don't really know why they prefer to use the Tron network other than because Tron and cryptocurrencies other than Bitcoin can be controlled.Eth transactions still too expensive i hope they start use TRON soon
Not choosing to use bitcoin in transactions is just a matter of selfishness because you are already supporting bitcoin-hating groups.
September 15, 2023, 06:27:12 PM
I'd rather avoid the use of Paypal stablecoin. Since there are already stablecoins in the market. I do not know but I am a bit skeptical about using the Paypal stablecoin probably because of the previous bad news about PayPal freezing its customer funds. Aside from that using USDT, BUSD or USDC is convenient for me since I do not have to worry about since I have been using them for years now.
-snip-
Quite a basic concern, I am also skeptical about using Paypal even though Paypal now has PYUSD which is PayPal's stablecoin. it is better to replace existing stablecoins without the possibility of being frozen. -snip-
Paypal's stablecoin also uses the Ethereum network, but Ethereum transaction fees will also be more expensive when the gas fee goes up and there are many networks that have cheaper gas fees.
So it's not good enough for my use because of the transaction fees.
September 14, 2023, 05:42:39 PM
The Paypal uses the crypto currency over a period of time,you can direct convert of your fiat to USD or now the conversion will be acceptable one in crypto currency.So one can easy covert of your PayPal dollars to any other crypto currency and you no need to worry about the exchange to buy the cryptocurrency.So Paypal accept the tron for the faster transaction,some people still use of ETH in the Paypal.But the better option to use the crypto in the PayPal is Tron using USDT in your wallet balance.
I'd rather avoid the use of Paypal stablecoin. Since there are already stablecoins in the market. I do not know but I am a bit skeptical about using the Paypal stablecoin probably because of the previous bad news about PayPal freezing its customer funds. Aside from that using USDT, BUSD or USDC is convenient for me since I do not have to worry about since I have been using them for years now.
The Paypal uses the crypto currency over a period of time,you can direct convert of your fiat to USD or now the conversion will be acceptable one in crypto currency.So one can easy covert of your PayPal dollars to any other crypto currency and you no need to worry about the exchange to buy the cryptocurrency.So Paypal accept the tron for the faster transaction,some people still use of ETH in the Paypal.But the better option to use the crypto in the PayPal is Tron using USDT in your wallet balance.
The same goes with other stablecoins and these stable coins have proven themselves since they had been in the Crypto Industry for years now.
September 14, 2023, 04:33:58 PM
The Paypal uses the crypto currency over a period of time,you can direct convert of your fiat to USD or now the conversion will be acceptable one in crypto currency.So one can easy covert of your PayPal dollars to any other crypto currency and you no need to worry about the exchange to buy the cryptocurrency.So Paypal accept the tron for the faster transaction,some people still use of ETH in the Paypal.But the better option to use the crypto in the PayPal is Tron using USDT in your wallet balance.
September 07, 2023, 04:13:35 PM
Yes paypal use crypto but instead of eth many users was expecting the TRON blockchain its faster cheaper and more used.
Eth transactions still too expensive i hope they start use TRON soon
You seem to forget that currently the tron network is also experiencing an increase in fees even though it cannot be compared to ETH but the evidence that the fee increase exists for tron is also one of the proofs that they cannot be an option either. Eth transactions still too expensive i hope they start use TRON soon
ETH may be more expensive but they have better conditions and this is a good guarantee and this is probably one of the factors that they are an option but if you really want something more then wouldn't it be great if it went back to the king (bitcoin) even though there are still many who do not like it but with a much larger volume and cheaper network fees I think it is more worth it.
September 07, 2023, 04:05:14 PM
Yes paypal use crypto but instead of eth many users was expecting the TRON blockchain its faster cheaper and more used.
Eth transactions still too expensive i hope they start use TRON soon
Actually, there are several alternative networks that can be used besides ETH to reduce transaction costs. And they are a network that remains fast and trusted even though the costs are low. Not only Tron, but there is also Binance Smart Chain (BSC), Polygon, Sol and several others. And now it is very popular on several platforms. However, if it is related to educational institutions, we cannot be sure. Because after all, it will also be related to the law and regulations of crypto itself in that country. So, even though they may be open minded towards crypto, they may not necessarily be able to accept crypto as a means of payment because it is limited by the regulations that apply in that country. Eth transactions still too expensive i hope they start use TRON soon
September 07, 2023, 03:53:19 PM
TRON's cool and all but there's a lot of caveats that come with it. It's centralized for one, so Justin or someone who can gain access to his personal affects could easily just shut the whole network down if they so please and we would be helpless to stop it. If you're okay with a payment system like that then good for you, but the rest of the cryptocurrency world would not want that as a payment system. People would much rather choose to pay and use a cryptocurrency that's expensive and slow rather than an unreliable one. Some even see the delay as a good sign since it means trade volume is going great. So perhaps your dream of a world where TRON is king is a little too farfetched from reality.
September 07, 2023, 03:40:56 PM
Yes paypal use crypto but instead of eth many users was expecting the TRON blockchain its faster cheaper and more used.
Eth transactions still too expensive i hope they start use TRON soon
Of course these institutions would really be finding or trying out to accept on things which they do seem that it does have a bigger community on which it would really be that relevant or would reallyEth transactions still too expensive i hope they start use TRON soon
be just that wise for them to do so. Arent you aware that they are making their own Stable coin?
1 USD : 1 PYUSD on PayPal
PayPal USD (PYUSD)1 is a stablecoin backed by secure and highly liquid assets. Buy, sell, hold, and transfer it in our app or on our site.
Source
So they arent really totally focused on those decentralized things but rather they are really just trying to mix with this crypto space
just to make out some introduction and make awareness of their new stable coin. lol
They wont really be caring that much about using up crypto, and since we are on a trend where crypto space is really making up some noises then expect that these big institutions or companies
will really be having that kind of plan or option to take advantage on getting that kind of attention.
September 07, 2023, 03:35:43 PM
Nothing else really matters, how much they've earned through transaction fees, how long they've been around, or how many people have been using them for so many years. The actual point is that they find cryptocurrencies to be a threat to them since they know they are going to be replaced by them, and that is the reason why they are doing their best to make people think that they are supporting cryptocurrencies so that people don't leave them and just use cryptocurrencies.
Whether it's Paypal, banks, or any other financial institution, they all can see the constant growth of cryptocurrencies, especially Bitcoin, and they can't just sit back and see their own downfall and all these things are actually a reaction to that since they fear losing control over the finances of people.
Whether it's Paypal, banks, or any other financial institution, they all can see the constant growth of cryptocurrencies, especially Bitcoin, and they can't just sit back and see their own downfall and all these things are actually a reaction to that since they fear losing control over the finances of people.
Since we are cryptocurrency enthusiasts, it is natural for us to think that cryptocurrencies will supplant everything else. But is there any difference between using e-money and cryptocurrencies for the average person? My guess is that there isn't. The main thing is the speed of the transaction and the size of the commission, and here bitcoin does not always appear in a favorable light
September 07, 2023, 01:59:21 PM
Yes paypal use crypto but instead of eth many users was expecting the TRON blockchain its faster cheaper and more used.
Eth transactions still too expensive i hope they start use TRON soon
You're wrong, plain and simple. It's laughable that you cite Paypal, which have actually just paused and further purchases of crypto currency until an indeterminable date, so are currently looking like they want to back out of the market. Besides that, Paypal were allowing people to trade cash 20 years ago, long before crypto came into existence and they flourished without it all that time. Heck, even Elon Musk got rich from the money that paypal was bringing in from transaction fees and they had everything perfectly manageable on arrays of servers. Financial institutions don't need crypto in the slightest to function, banks have been running even longer than Paypal and successfully moving money around - much faster and at cheaper cost (at least to the institution. Crypto is a threat to their profitability, so they are likely adapting to incorporate or subdue the effects if possible.Eth transactions still too expensive i hope they start use TRON soon
Whether it's Paypal, banks, or any other financial institution, they all can see the constant growth of cryptocurrencies, especially Bitcoin, and they can't just sit back and see their own downfall and all these things are actually a reaction to that since they fear losing control over the finances of people.
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