Why I will never compare cryptocurrency to our traditional/financial institution

[rumexx]

This write up is true and typical of paypal they really frustrated a lot African from doing business online. Eventually when the finally accepts some African countries they were only allowed to make payment and never to withdraw using PayPal. With the advent of blockchain all those wickedness have changed and the African now have a choice and to hell with Paypal, payzaa and the rest that were mocking Africans from not doing business online. Almighty blcockchain backing bitcoin is the rescue.No more pranks with African dealing on line transaction  thanks to Blockchain and crypto.

[DarkBullet]

Blockchain and cryptocurrency will definitely is a game changer for financial problems. Just as you mentioned, there are some terms and conditions to meet before you can open a bank account or store your money to them. Banks gives you restrictions on how you can store or use your funds where technically, it was your hard earned money. Cryptocurrency will give you full control of your money, use it anonymously, freely and also gives you a favorable return of investment. Cryptocurrency is the biggest competitor and a threat to the bank and they will definitely give cryptocurrency a hard time to get this regulated.

[yurekaa]

each country has its own policy to implement e-currency. so you have to be wise in seeing this. You must continue to increase your knowledge so that you can use various types of technology, especially in the digital economy. so that, when your country legalizes all digital trade activities, you already understand it all.

[Goodnuel]

I completely agree with you... The gigantic steps the blockchain and bitcoin has taken in recent times has made it easier for some countries to freely trade globally... Unlike the traditional systems where the banks or PayPal comes with plenty restrictions and unfair policies.. Indeed, blockchain is here to stay.

[eashikde]

Because bitcoin has many advantages, such as transaction speed, increased security and low commission fees. You can make purchases and pay for goods or services around the world without going to the bank. Certainly worthy of a lot to learn.

[VadikZimnyayaRezina]

All calculations will be in the crypt, without Fiat at all as such. The black market will be built in the beginning, in Russia for sure, because they banned and not only that banned, but also recognized the pyramid.

[walemil]

Thanks for bringing this up. Cryptocurrency is here to solve this problem of rejection. Now, you may no longer have to be at the mercy of PayPal anymore because you will have several other options at your disposal. They can only  hate on cryptocurrency but cryptocurrency will outshine them.

[tegarp90]

In past years, the utilization of e-currency, making online  transactions, doing shopping and lots more has always been limited to some setting countries.

Some countries are like outcast when it comes to Using e-currently for online transactions, which is very common among the Africa continent, and a practical example is Nigeria.

I'm using Nigeria as a case study because this is where I'm from and I know how it feels to be rejected by some financial institutions, especially when they are the only hope you have, eg PayPal!

I have worked myself out in past years searching for how to make money on the internet, I've bought e-books, registered on website that requires you to pay some amount of money before you can start using their platform. But all these turn out to be a total waste of time and resources, because all the money made from these platforms I was never able to withdraw them, because PayPal will never accept my country. Everyday I pray for miracle to happen that will make PayPal to accept my country. But paypal never did! And I never gave up.

Not until the birth of Blockchain/Crypto! PayPal is scared of Crypto, it CEO and all other financial institutions both offline and online will try every means to label Crypto a scam and illegal, But the fact is that, Crypto is here to stay, Crypto is a  game changer, it an eye opener, I can do whatever I  want to do online now with help of blockchain without thinking twice!

God finally answered my prayers!

The full potential of blockchain is yet to be discovered, I urge every Crypto enthusiasts to be optimistic in their quest for utilizing the full potential of this great technology that we have in our disposal.


God blessed every Crypto evangelist.

yeah you're right, crypto just need more socializations and more promotions so people can adopt it from all around the world !

[PrestonTrader]

yes a good question - why this post. negative experience, or you want to say waiting for the development of crypto in the world without restrictions, in which case I have the same opinion,

[PrestonTrader]

I also agree - a kind of struggle with the banking system - which controls, and simply robs people - if it has outlived itself easier ... the world needs crypto - it is transparently understandable - the most important thing is publicly available - and at the initial stages I think everyone can make money here

[PrestonTrader]

A significant aspect of crypto is still a breakthrough technology - which will allow people all over the world to control their incomes themselves, of course, everything has its difficulties in everything new, many people have misunderstandings - all states are trying to control crypto - to solve taxes in any way - but that attempts anyway from the authorities on this interval

[PrestonTrader]

frankly speaking - the general mass of people are not yet ready to accept crypto into their lives. the old stereotypes — inspired by us for so long — work; it's not easy for people to get rid of them. but I believe - and I do it myself, that sooner or later everyone will accept crypto like me

[xvacator]

So you only need to believe that what you want in your pray will become a reality. We are now in the digital era, and soon, all country will use all the digital technology and this mean, cryptocurrency can be accepted in all country unless the government is not ready with the change for the new era. Without receiving something new, that country cannot grow to a better country, and they will stay behind the other country.

[Rashid555]

It happens in the past that crypto currencies were used for limited transaction by limited people and we can generalize it to every one, So we can not compare it with traditional Institutions because these have involved the middle man in the form of Internet and transactions is private and personal so cost is also less and affordable for every one.

[chidrawarster]

Basically,both are two different categories and cant be compared as both have got their own pros and cons.Crypto space is more of decentralised nature whereas the banks are of centralised nature thereby giving more opportunities/facilities to people , some countries have still no access to crypto space due to no regulation existing there making it more comfort for the banks .We could see some regulation in place for crypto space in the near future ,then we can have some comparison in the near future.

[bitcoinerror]

Basically,both are two different categories and cant be compared as both have got their own pros and cons.Crypto space is more of decentralised nature whereas the banks are of centralised nature thereby giving more opportunities/facilities to people , some countries have still no access to crypto space due to no regulation existing there making it more comfort for the banks .We could see some regulation in place for crypto space in the near future ,then we can have some comparison in the near future.

You spoke properly about one aspect of crypto and Paypal. But transaction costs are a matter of concern and crypto can solve that problem better than Paypal.

[osuala]

A significant aspect of crypto is still a breakthrough technology - which will allow people all over the world to control their incomes themselves, of course, everything has its difficulties in everything new, many people have misunderstandings - all states are trying to control crypto - to solve taxes in any way - but that attempts anyway from the authorities on this interval

I also agree - a kind of struggle with the banking system - which controls, and simply robs people - if it has outlived itself easier ... the world needs crypto - it is transparently understandable - the most important thing is publicly available - and at the initial stages I think everyone can make money here

yes a good question - why this post. negative experience, or you want to say waiting for the development of crypto in the world without restrictions, in which case I have the same opinion,

yes a good question - why this post. negative experience, or you want to say waiting for the development of crypto in the world without restrictions, in which case I have the same opinion,

You know you don't necessarily need to spam this thread before your input to be applaud, you can actually sum up all these comments  in one single post.

I don't know which of your questions needs replying now

[Rituvohra01]

I think it is not possible to compare cryptocurrency to our traditional/financial institution because crypto is digital and decentralized currency and there are many limitations on
it. Every country not accepted crypto.

[zolfa]

you are right, and I agree with your argument, many primitive financial institutions that provide crypto platforms, even now, some world companies provide crypto services, the meaning is, that now the public demand for cryptocurrencies is greater.

[Rozita]

With the help of decentralization, we can overcome some troubles that centralization causes. Paypal could control your money. Paypal could block your money. In other word, Paypal can steal your money easily whenever they want. When the system becomes decentralized, the problem is solved. But there is still a problem. There are many platforms like most of the exchanges that are centralized and can block your money. There are also many efforts by governments to make such platforms centralized.