Topic: Simple reason why crypto is preferred over fiats - page 5. (Read 915 times)
The simple reason is because with crypto we can transact globally easily, quickly and at low costs, I've bought car accessories abroad several times and payment by credit card costs up to $25 per transaction, whereas with BNB it only takes less than $1 for a transaction .
So stealing with Cryptos is almost not possible
It sounds like you either don't understand what stealing is or you don't understand how Bitcoin works to come out with such a statement. Stealing crypto definitely is possible and it takes place every single day. There are websites out there called "mixers" which facilitate money laundering and will essentially accept your money, then pay out with a different batch of bitcoin to break any chain in the connection. It's not foolproof and if the mixer is compromised it can lead back to the original transaction, however criminal activities like these are common. Even a lot of ransomware uses cryptocurrency to request payment, the so-called transparency you talk about can easily be side stepped and made redundant from the perspective of an investigator.
...
Definitely. Well, I also prefer cryptocurrency over fiat because cryptocurrencies have wonderful advantages differ from fiat money managed by central banks and governments. The simplest reason why cryptocurrency is preferred over fiat is that it is easier and safer, with crypto we don't need third party services such as banks so that all the money in the wallet is safe, cases of losing money in the bank are often heard and this is a strong reason that the need for money security is very important. Plus it gives us full control of our wealth rather than letting someone have the custody of our own assets.If we are here we prefer crypto over fiat, but we are in crypto, it's where we make/lose/invest/spend/do whatever we can do with money, and it's our world, sort of speaking. But people outside this world are still more for fiat than crypto, one of the main arguments (the one I hear most of them repeat all the time) is they can't see crypto, but they can see cash! I always try to explain to them the source of fiat, how it's made, distributed, I am trying to explain to them that corrupted system and how they support a specific system if they are using it! I also try to explain to them how crypto works, all the benefits of a better system! But they don't quite understand it, or they don't wish to understand it...
That's because no single person or group of persons is or are in control of Cryptos, it's called Blockchain technology
It's a decentralised system meaning money sent or received from or to an account can be seen or monitored by everyone or anyone who wishes to
Unlike your normal bank that has CEO who decides how he wants to run his business, he can collaborate with the president to Syphon millions of dollars and no one will know about it
In the Crypto space, such is not possible because any amount that leaves your account can be monitored and traced by anybody at all
So stealing with Cryptos is almost not possible
And again, Cryptos rise/fall every second, but the chances of rising is higher
That's why Bitcoin of $10 today can turn $14 in 14days time but your $10 in the bank will reduce to $9 after bank charges
So a time will come when everyone wouldn't want to be cheated again by the banking system and would move to using Cryptos for Saving money and other transactions.
Definitely. Well, I also prefer cryptocurrency over fiat because cryptocurrencies have wonderful advantages differ from fiat money managed by central banks and governments. The simplest reason why cryptocurrency is preferred over fiat is that it is easier and safer, with crypto we don't need third party services such as banks so that all the money in the wallet is safe, cases of losing money in the bank are often heard and this is a strong reason that the need for money security is very important. Plus it gives us full control of our wealth rather than letting someone have the custody of our own assets. It's a decentralised system meaning money sent or received from or to an account can be seen or monitored by everyone or anyone who wishes to
Unlike your normal bank that has CEO who decides how he wants to run his business, he can collaborate with the president to Syphon millions of dollars and no one will know about it
In the Crypto space, such is not possible because any amount that leaves your account can be monitored and traced by anybody at all
So stealing with Cryptos is almost not possible
And again, Cryptos rise/fall every second, but the chances of rising is higher
That's why Bitcoin of $10 today can turn $14 in 14days time but your $10 in the bank will reduce to $9 after bank charges
So a time will come when everyone wouldn't want to be cheated again by the banking system and would move to using Cryptos for Saving money and other transactions.
well, honestly even though no one can control blockchain system , its still not a primary reason for it, on my though of course. Besides that , its fully controlled by u, if u lost it, no one can solved your problem, you have 100% responsibility of your money, and also the most important for me, never disappoints with the moving average always goes up if we look at it from year to year. that why stronghands always win, and this year, well , the next 2017.
Why crypto is preferred over fiats?
The answer is that cryptocurrencies have wonderful advantages that differ from fiat money managed by central banks and governments. Therefore, cryptocurrencies are decentralized currencies that preserve the privacy of any user and are not subject to any control, and are characterized by the fact that transactions are made in them at low cost and speed of transfers. One day, cryptocurrencies can become an alternative to gold and dollars, provided that governments set controls to deal with them.
Alternative? Yeah that's the right word rather than to those people who do really believe that crypto could replace fiat which is really an impossible thing to happen and the reasons on why peopleThe answer is that cryptocurrencies have wonderful advantages that differ from fiat money managed by central banks and governments. Therefore, cryptocurrencies are decentralized currencies that preserve the privacy of any user and are not subject to any control, and are characterized by the fact that transactions are made in them at low cost and speed of transfers. One day, cryptocurrencies can become an alternative to gold and dollars, provided that governments set controls to deal with them.
do love crypto over fiat is on this one;
1. Anonymity
2. Decentralized
3. Irreversible transactions
4. Transparency
5. Money making opportunity
This is why we are really seeing this number in terms of value because people are really interested
on this one.
There's only one simple reason for me, I think that crypto is more preferred than fiat because it actually grows in value, I mean look at forex and crypto market, check the growths in the top of each market most of the time, the value in forex isn't that high and it's not a good news if your currency is going up compare that to crypto that albeit experiencing volatility, the market still manages to make a lot of growth and at the same time increase in value.
I think every investment has that innate nature where their prices go up by taking advantage of time. That is why, investments are categorized as (1) short; or (2) long-term investments. Depending on the goal of a person, they may opt to exercise one or both of them depending also on your preferred capital.
What makes cryptocurrencies special is the manner of owning one. The convenience and the technology behind it surely guarantees the person that investing into such would most likely yield profit at the end of the trading cycle.
Why crypto is preferred over fiats?
The answer is that cryptocurrencies have wonderful advantages that differ from fiat money managed by central banks and governments. Therefore, cryptocurrencies are decentralized currencies that preserve the privacy of any user and are not subject to any control, and are characterized by the fact that transactions are made in them at low cost and speed of transfers. One day, cryptocurrencies can become an alternative to gold and dollars, provided that governments set controls to deal with them.
The answer is that cryptocurrencies have wonderful advantages that differ from fiat money managed by central banks and governments. Therefore, cryptocurrencies are decentralized currencies that preserve the privacy of any user and are not subject to any control, and are characterized by the fact that transactions are made in them at low cost and speed of transfers. One day, cryptocurrencies can become an alternative to gold and dollars, provided that governments set controls to deal with them.
when talking about value, of course we prefer crypto because it promises a higher value and minimal inflation of course by looking at the quality of a coin or crypto token that is safe and certain while money stored anywhere promises inflation but seeing the benefits and uses I like both because with so many no matter how much we have will never be satisfied 
Exactly, we must also highlight the fact that with cryptocurrencies you are not being monitored by banks or governments, you can handle any amount of money without being told anything, without asking for permits and the best thing is that the transactions are fast and very safe. The Fiat is good because we live in a system where it must be managed by FIAT, but with crypto you can make yourself more anonymous, the only way for others to realize that you have something is because you make it known, otherwise no.
And the biggest advantage of all is that you don't need a set schedule to withdraw your money or move it from one place to another, it is open and active 24 hours a day.
I do like crypto over fiat, because I can manage my own finances. Because unlike fiat, which does involve a third party every time I make
a transaction, it sometimes makes the transaction process take a long time. That's why I prefer to use crypto when sending money abroad,
because the process is faster. Moreover, crypto is proven to be able to make money and is also anti-inflation, this makes me entrust my wealth
to be stored in cryptocurrency. Maybe I still use fiat because it is to buy daily needs, because in my country crypto is prohibited as a means of payment.
All you say is the reasons why cryptocurrencies should not be prohibited, is that no government can tell you how much money you should have, that is where freedom comes in, and financial freedom is much easier to achieve with the economy that cryptocurrencies offer, and that is something that no government will like, governments like to keep their people under their rules that no sheep is derailed, because that prevents their control and they invent that crypto is bad for money laundering and all those things that we they are accustomed.
The ways you have to be able to make a good exchange is to consider P2P exchanges, or through remittances.
I think the simplest reason is that it is easier and safer, with crypto we don't need third party services such as banks so that all the money in the wallet is safe, cases of losing money in the bank are often heard and this is a strong reason that the need for money security is very important. we save is the most important thing, besides that if we want to move money then it takes a process and a queue so this is very tedious.
That's because no single person or group of persons is or are in control of Cryptos, it's called Blockchain technology
It's a decentralised system meaning money sent or received from or to an account can be seen or monitored by everyone or anyone who wishes to
Unlike your normal bank that has CEO who decides how he wants to run his business, he can collaborate with the president to Syphon millions of dollars and no one will know about it
In the Crypto space, such is not possible because any amount that leaves your account can be monitored and traced by anybody at all
So stealing with Cryptos is almost not possible
And again, Cryptos rise/fall every second, but the chances of rising is higher
That's why Bitcoin of $10 today can turn $14 in 14days time but your $10 in the bank will reduce to $9 after bank charges
So a time will come when everyone wouldn't want to be cheated again by the banking system and would move to using Cryptos for Saving money and other transactions.
I don't totally agree on this , everyone in the world they use fiat money still more people use BTC even we BTC lovers still have to use the word BTC outbound transactions become digital money for us to use and pay for living expenses so i disagree with your opinion definitely that cryptocurrencies cannot replace or use more than money our daily numbers are .I don't mean to criticize or distrust BTC but BTC can't completely replace digital currency is true. It's a decentralised system meaning money sent or received from or to an account can be seen or monitored by everyone or anyone who wishes to
Unlike your normal bank that has CEO who decides how he wants to run his business, he can collaborate with the president to Syphon millions of dollars and no one will know about it
In the Crypto space, such is not possible because any amount that leaves your account can be monitored and traced by anybody at all
So stealing with Cryptos is almost not possible
And again, Cryptos rise/fall every second, but the chances of rising is higher
That's why Bitcoin of $10 today can turn $14 in 14days time but your $10 in the bank will reduce to $9 after bank charges
So a time will come when everyone wouldn't want to be cheated again by the banking system and would move to using Cryptos for Saving money and other transactions.
One of the reasons is that people really love to use cryptocurrencies because of their having completely new technologies behind them. Fiat is so classic and people search new ways as the technology is developing very quickly these days. And as cryptocurrencies give people a big freedom to use them in whatever way they want. This must be the most attracting feature for people to use crypto.
But remember, a lot of people still prefer the traditional method like banking and using fiat. Not all are really into crypto. But maybe, more on younger generation as they want to test new technology. While some others are curious about its volatility nature that they do want to get involved with because of the potential high gain. But I don't generalize the population that they do prefer crypto over fiat, because in terms of global population who are into crypto, it is still small.
One of the reasons is that people really love to use cryptocurrencies because of their having completely new technologies behind them. Fiat is so classic and people search new ways as the technology is developing very quickly these days. And as cryptocurrencies give people a big freedom to use them in whatever way they want. This must be the most attracting feature for people to use crypto.
Bitcoin is a better choice in so many ways than using Fiat. But a lot of people have reasons why they are scared to make use of Bitcoin, and I think one thing that scares them most is the fact that it is volatile. Though from what I have understood, these people wants to make profit, but they are not ready to take the risks for making that profit, they just want the money they put into a crypto wallet to keep increasing in value while they don’t experience the loss side of it at all.
These are people who are looking for quick gains, unfortunately it doesn’t work that way, it only favors those that are ready to have patience and plan themselves rightfully.
This means that they consider crypto as an investment, not in the form of currency. But if they are both considered it as a form of currency it surely they will choose fiat over crypto. These are people who are looking for quick gains, unfortunately it doesn’t work that way, it only favors those that are ready to have patience and plan themselves rightfully.
PROFIT is what they think and to admit that it was really profitable investment than any others but the risk is also high. However, we neglected to see crypto being used as a form of currency since it wasn't yet fully accepted globally. If only we are free to use that anywhere, I guess, people will still choose crypto as it was easy and fast to use.
Bitcoin is a better choice in so many ways than using Fiat. But a lot of people have reasons why they are scared to make use of Bitcoin, and I think one thing that scares them most is the fact that it is volatile. Though from what I have understood, these people wants to make profit, but they are not ready to take the risks for making that profit, they just want the money they put into a crypto wallet to keep increasing in value while they don’t experience the loss side of it at all.
These are people who are looking for quick gains, unfortunately it doesn’t work that way, it only favors those that are ready to have patience and plan themselves rightfully.
These are people who are looking for quick gains, unfortunately it doesn’t work that way, it only favors those that are ready to have patience and plan themselves rightfully.
There are lots of grey areas in your points taken in this post. When we talked about cryptocurrency, there are lots of projects come out of that.
That's because no single person or group of persons is or are in control of Cryptos, it's called Blockchain technology
This is inaccurate. Lots of cryptocurrency has a centralised infrastructure that carried out the projects. One of the best example is BNB itself. It is managed and controlled by Cz the founder of Binance. However, if we just talked about BTC over Fiat, there's no doubt that BTC is much feature rich that old school foat. BTC has no needs of intermediary. Not centralised meaning no one has control over it. Has limited supply up to 21M only and it will never change. Unlike fiat that Governments can print it all they want. 
Apart from these cryptocurrency transactions cannot be forged central banks do not intervene like fiat currency cryptocurrencies have no inflation the number of these coins is predetermined, so they can no longer be printed like money. Different countries are trying to increase their purchasing power in the international market by printing more of their currencies openly or secretly resulting in a currency war un cryptocurrency this is absolutely impossible. Cryptocurrency transactions do not require any third party later transactions are easy and more profitable than fiat through investment.
Many prefer Crypto over fiat in my country because it is fully legalized in the country. Despite fiat has more population in my country than crypto users in the community but many citizens are looking for way to learn more about crypto and how they can be part of the benefits other crypto users in the community are enjoying in the country. Even some uneducated people in the community are seriously looking for where they can be impacted about digital currency because they have seen the great achievement crypto users has achieved from the country few years government has made crypto legalized in the country.
Many still prefer Crypto over fiat because crypto is a digital currency that came to eliminate delay and errors from the world economy and other transaction in the world. Crypto is not control by the government like the way government choose to control the price of fiat money in the country.
Many still prefer Crypto over fiat because crypto is a digital currency that came to eliminate delay and errors from the world economy and other transaction in the world. Crypto is not control by the government like the way government choose to control the price of fiat money in the country.
I guess the biggest reason for me is the banks. I am not actually against fiat neither, I am fine with fiat, the "idea" of fiat is not a bad one and I am fine with it. The problem for me is banks and I do not like banks. Which causes me to withdraw all my money from them all the time. With crypto I was able to actually end up with putting all my money digitally but not in a bank, that option was the greatest thing. I can't wait for the day when I could use crypto everywhere and I would not need bank.
There are some "cards" that we could use right now that would make it possible but unfortunately I do not use them just yet because they are not working in my nation. However the moment it works in everywhere around my nation then I will be forever non-fiat and will be full time crypto and that way I will be able to pay everything and get rid of fiat in my life.
I guess you really had a bad experience with fiat and banks that you really want to get rid of them totally.There are some "cards" that we could use right now that would make it possible but unfortunately I do not use them just yet because they are not working in my nation. However the moment it works in everywhere around my nation then I will be forever non-fiat and will be full time crypto and that way I will be able to pay everything and get rid of fiat in my life.
For me, i'm not against with fiat because we really know how useful it is at the present but knowing it can be fully controlled by the government or the banks, then definitely from there its value was lost. However, with crypto, we are the owners of our own banks. So we all have the full control on it and there's no chance that it will be interrupted by the government or a central bank. And with crypto, there's a lot of chances that we can generate more profits because its also being used as an investment.
One of the reasons why crypto is gaining popularity so quickly, because crypto gives users the freedom to control their own finances, without
the need for third party involvement. So that's why some members of this forum think crypto is better than fiat. Because it also makes some
countries tough on crypto, they don't legalize crypto as legal tender, but only legalize it as a digital asset. There are even countries that
completely prohibit the use of crypto, because they think crypto threatens the existence of fiat. Though crypto was created not to replace fiat,
but only as an alternative payment only. Maybe because crypto is still using new technology, so there are still many people who really don't
understand how crypto works. With time it is possible that many countries will eventually follow El Salvador's lead by fully legalizing crypto.
Well people who understand crypto will definitly choose cryptocoin rather than using fiat, because it's decentralized system make it's unique and most of coins now can process a lot of transactions now and it will arrive at short time also ofc with low fees 
.
Many people dont live in countries that have accepted crypto yet. Even if they know and understand the advantages of crypto, it is a difficult process for them to spend crypto or buy it. But again this is a personal choice you say. Someone may not like crypto for whatever reason and they will continue to use fiat..Fees should not be the point of discussion. Fees exist is all transaction methods, the mode and reason might vary.
Quote
And the other things we will keep as anonymous when using cryptos despite a lot of centralized exchange ask for KYC nowdays, It's now mandatory I guess 
.
Having done a KYC on an exchange in your own country is a good thing, according to me. You can sleep soundly because you know that the exchange is following government guidelines about taxation and is keeping track of the money going in and out of the exchange. This helps shutting out the money launderers. The latter dont seem to like this much, as expected..Jump to: