BITCOIN IS BETTER THAN WESTERN UNION ?

[Cazkys]

Supposed to be since Bitcoin is in digital format and can be transferred in many places in the world without the need for intermediaries like Western Union or any third party. No extra charges, too which is sweet. If bitcoin is adapted and acknowledged in all countries then Western Union and other companies that transfers money like Paypal will not be needed anymore. It will be just peer to peer, direct, and no third party.

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[Bunsomjelican]

Bitcoin is better than western union, because bitcoin is not just being use for sending/transferring money but it can also be use for
online payment, it ca be your assets, and investment capital as your own business while western union  is not the same as bitcoin

[Hutalar]

Well, it depends on the users. I would argue that bitcoin is still better than western union because I prefer to use bitcoin. Well, basically I have their own reasons about it. probably because I am used to using bitcoin and make a business out of it.

Every person who will know about Bitcoin will suggest that Bitcoin is better than Western Union. While those people who will not know about Bitcoin may use Western Union for their transaction of money from one place to another. I also prefer to use Bitcoin or transacting my money because it has much little piece than Western Union.

[Russlenat]

Well, it depends on the users. I would argue that bitcoin is still better than western union because I prefer to use bitcoin. Well, basically I have their own reasons about it. probably because I am used to using bitcoin and make a business out of it.

Every person who will know about Bitcoin will suggest that Bitcoin is better than Western Union. While those people who will not know about Bitcoin may use Western Union for their transaction of money from one place to another. I also prefer to use Bitcoin or transacting my money because it has much little piece than Western Union.

Yes I agree! I already used bitcoin and transfer it to another account or person like a western union way with less hustle and effort like you go to western union branch to send money.

[stompix]

Even with the high bitcoin fees being at 150k satoshis atleast for each transaction you can still moove big ammounts at once for low cost, even having to exchange into local currencie wont be a problem since there is a market to buy your coins without make you loose. Western and paypal has fixed fee and more % that makes them being expensive for big ammounts.

If you have to exchange in local currencies then that defeats the whole point of sending bitcoins.
If you go from fiat to buying bitcoins via an exchange then send bitcoins the other persons receives bitcoins then goes to an exchange sells bitcoins for fiat you're just feeding two intermediaries instead of one.

Either way WU is already dead in some countries.
For European transactions SEPA has taken over most of their customers if not all.
And for the rest of the world there are a lot of far cheaper alternatives than WU.

[mudboy93]

Bitcoin has surpassed WU from a while already, and is better than WU in every aspect if you think about it, from the fees, the number of outlets, the ease of use, the privacy, the defensive abilities against fraud and the overall market cap and number of transactions conducted. I am wondering about the numbers now (and if we already reached PayPal or not).

[millgates]

Bitcoin has surpassed WU from a while already, and is better than WU in every aspect if you think about it, from the fees, the number of outlets, the ease of use, the privacy, the defensive abilities against fraud and the overall market cap and number of transactions conducted. I am wondering about the numbers now (and if we already reached PayPal or not).

I think bitcoin and blockchain thecknology will be the best remittance service. Bitcoin users has full control of their money, there is no strict rules or limitation in transferring money. We can send bitcoin anywhere and anytime as long as there is Internet connection.

[roadbits]

Bitcoin has surpassed WU from a while already, and is better than WU in every aspect if you think about it, from the fees, the number of outlets, the ease of use, the privacy, the defensive abilities against fraud and the overall market cap and number of transactions conducted. I am wondering about the numbers now (and if we already reached PayPal or not).

I think bitcoin and blockchain thecknology will be the best remittance service. Bitcoin users has full control of their money, there is no strict rules or limitation in transferring money. We can send bitcoin anywhere and anytime as long as there is Internet connection.

There is no rules and restriction for bitcoin transaction. and also there is no limit for bitcoin money transfer. we can send N number of bitcoins from one country to all over the world. But if we convert that bitcoins to fiat currency we have to give bank details. Here the govt will ask how you got this huge amount? What will you give an answer? This problem is not there in WU it is a clear cut transaction. Now, which is better WU or BTC?

[bitcoin199]

Western Union system, although served as an industry and innovation leaders years before, but today and right now, it's awfully flawed and has huge fees that are a big percentage of the conducted payment. Something as innovative and new like bitcoins to take it's place is the natural development of payment system.
PayPal total transacted volume was probably surpassed by now, as bitcoin usage numbers reached top values now, with the increase in popularity.

[Mirror, Mirror, on the Wa]

Used Western Union 5 times now from 2012, all were situations it was necessary to send an out-of-country payment and the local banks aren't good in my country, anyway these times the process although worked but was always difficult, and the fees they took was big.
Now after using btc for around 5 months, i know how much better btc was compared to western union.

[stompix]

Used Western Union 5 times now from 2012, all were situations it was necessary to send an out-of-country payment and the local banks aren't good in my country, anyway these times the process although worked but was always difficult, and the fees they took was big.
Now after using btc for around 5 months, i know how much better btc was compared to western union.

And what do you do to acquire the btc? What does the other guy that is receiving the btc do with them?

You're complaining about banks, probably you don't live in a country where you can live on btc alone so you'll still need to buy those bitcoins via a bank and the person receiving them the same at his end.

If you add those fees , time wasted this is just slightly better than WU.

Let's say we drop the banks and do the trade only locally with localbitcoins.
Right now if I have to buy bitcoins in cash I have to pay 2390 euros for it and if my friend would want  want to sell it there are  no better offers than 2160 euro.
We're  losing more than 10% on this.

WU is total garbage but still I don't see btc as being the solution as long as you have to convert it again in fiat to use it.

[Wei H]

Used Western Union 5 times now from 2012, all were situations it was necessary to send an out-of-country payment and the local banks aren't good in my country, anyway these times the process although worked but was always difficult, and the fees they took was big.
Now after using btc for around 5 months, i know how much better btc was compared to western union.

Bitcoin is fast payment tool, it's much faster than WN, however, Bitcoin is now having a very costly network fee for small amount transaction, if you're seeking to transfer a small payment, Bitcoin will never be a good option at the moment until the community fixes the issues.

[crwth]

Bitcoin is fast payment tool, it's much faster than WN, however, Bitcoin is now having a very costly network fee for small amount transaction, if you're seeking to transfer a small payment, Bitcoin will never be a good option at the moment.

I don't think you are right with the fast payment tool. The confirmation time is getting slower because the difficulty of the cryptographic puzzle is getting harder. That's why it's getting slower and more costly to use because of the transaction fee. There are other ways to get through payments. Maybe in some other alt coins but I haven't really tried anything but Bitcoin.

[richardsNY]

The confirmation time is getting slower because the difficulty of the cryptographic puzzle is getting harder.

No. Blocks are always coming through in the way that the average generation time of 1 block sits very close to 10 minutes, and this hasn't changed just because the difficulty has increased. It's the difficulty adjustment that plays an important role here. It happens to take place every 2016 blocks, which is meant to keep the average block generation time close to 10 minutes.

[stompix]

Bitcoin is fast payment tool, it's much faster than WN, however, Bitcoin is now having a very costly network fee for small amount transaction, if you're seeking to transfer a small payment, Bitcoin will never be a good option at the moment.

I don't think you are right with the fast payment tool. The confirmation time is getting slower because the difficulty of the cryptographic puzzle is getting harder. That's why it's getting slower and more costly to use because of the transaction fee. There are other ways to get through payments. Maybe in some other alt coins but I haven't really tried anything but Bitcoin.

Confirmation time has nothing to do with the block time.
Blocks are being mined on average every 10 minutes.
It doesn't matter if the mining rate is 1GH or 1PH and the difficulty is 2 or 2 trillions.

The problems is the amount you're paying for the transaction.
You pay 1 satoshi then you can wait for weeks.
Just pay the recommended fee and you will have your transactionincluded in the first block.

[justspare]

Used Western Union 5 times now from 2012, all were situations it was necessary to send an out-of-country payment and the local banks aren't good in my country, anyway these times the process although worked but was always difficult, and the fees they took was big.
Now after using btc for around 5 months, i know how much better btc was compared to western union.

Bitcoin is fast payment tool, it's much faster than WN, however, Bitcoin is now having a very costly network fee for small amount transaction, if you're seeking to transfer a small payment, Bitcoin will never be a good option at the moment until the community fixes the issues.

Bitcoin is a digital currency it's a very quick service so there is no doubt that Bitcoin is much more better than a Western Union of course and people who are into Bitcoins will never entered the western union as the fees are high and the online transfering is so much time consuming where is bitcoin transition as too faster with less cost and credit are done at once always so no doubt bitcoin is better than Western Union.

[Cazkys]

Western Union is the easiest to send and receive money. It is one of the trusted remittances that everyone could use. With Bitcoins, you need to have a step to step process that involves changing bitcoins to your currency and transferring that amount using cryptocurrency to someone who has Bitcoins as well. They will again convert it to the right currency to transfer it to bank. If the process it involved, then it is not better, but if you are open minded to process then that is okay.

[Cazkys]

Bitcoin offers anonymity. It secures the person sending and receiving the money. It has a near perfect math algorithm that is hard to hack. There are no secret or surprise fees to be paid. If there happens to be a fee then the fees are low to almost zero. It is direct meaning no middleman. No reason for your money to be lost in the system. Just for these few reasons that Bitcoin is better than Western Union.
 

[iyan33]

Bitcoin offers anonymity. It secures the person sending and receiving the money. It has a near perfect math algorithm that is hard to hack. There are no secret or surprise fees to be paid. If there happens to be a fee then the fees are low to almost zero. It is direct meaning no middleman. No reason for your money to be lost in the system. Just for these few reasons that Bitcoin is better than Western Union.
 

Everyone has different views about Western Union with Bitcoin.
But I have the same opinion with you that bitcoin transactions are still better than Western Union, especially the cost and legality factor of the sender and receiver, the cost of bitcoin transaction fees is cheaper when compared to Westren Union, and for ID legality is certainly not very important for bitcoin transactions . And the reason why bitcoin is better than WU in my opinion.

[marcbitcoins]

Bitcoin offers anonymity. It secures the person sending and receiving the money. It has a near perfect math algorithm that is hard to hack. There are no secret or surprise fees to be paid. If there happens to be a fee then the fees are low to almost zero. It is direct meaning no middleman. No reason for your money to be lost in the system. Just for these few reasons that Bitcoin is better than Western Union.
 

Everyone has different views about Western Union with Bitcoin.
But I have the same opinion with you that bitcoin transactions are still better than Western Union, especially the cost and legality factor of the sender and receiver, the cost of bitcoin transaction fees is cheaper when compared to Westren Union, and for ID legality is certainly not very important for bitcoin transactions . And the reason why bitcoin is better than WU in my opinion.

Bitcoins is the best for transaction because it is very convenient at your finger tips using your cellphone will do plus you can make transactions anytime anywhere even at your home even at midnight unlike western union mostly you can transact only in the day then not all places have a WU branch plus you need to travel to make a transactions to that branch.