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Author Topic: Bitcoin vs Venmo  (Read 1843 times)
DimensionZ
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January 21, 2016, 12:39:25 PM
 #21

Thanks for the clarification I didn't know they used second hand gift cards to provide the cash for the exchange. By the way do you pay the shipping costs to your respective country or it's free of charge?

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January 21, 2016, 12:42:03 PM
 #22

Thanks for the clarification I didn't know they used second hand gift cards to provide the cash for the exchange. By the way do you pay the shipping costs to your respective country or it's free of charge?

yes you need to pay the shipping cost, but since this is amazon, we are talking about, most of the time the cost are free, if you ever used amazon(with fiat) you should know this
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January 21, 2016, 02:17:01 PM
 #23


Wire transfer fees charged by the 10 largest U.S. banks:
Banks                    Domestic - Incoming   Domestic - Outgoing   Foreign - Incoming   Foreign - Outgoing
Bank of America               $15                     $25                           $16                            $45
Chase                       $15                     $30                           $15                            $45
Wells Fargo                       $15                     $30                           $16                            $40
Citibank                       $15                     $35                           $15                            $45
U.S. Bank                       $20                     $30                           $25                            $50
Capital One                       $15                     $25                           $15                            $50
PNC Bank                       $15                     $25                           $15                            $45
TD Bank                       $15                     $25                           $15                            $40
BB&T                               $15                     $25                           $18                            $65
SunTrust Bank               $15                     $25                           $30                            $50
AVERAGE                       $15.50                     $27.50                   $18.00                    $47.50


im not american.. im british.. and shocked that the US banks charge for that.

explains why america hates banks so much but loves bitcoin. but the uptake of bitcoin is slower in the UK
because we have had instead wire transfers that are free, for years. and easy userfriendly apps like Pingit

Why are you shocked? 

Most ordinary people don't use "wire transfers".


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January 21, 2016, 02:21:49 PM
 #24

But you can use Purse.io only for products. What if you need that extra cash for emergency reasons? What will do then to convert bitcoins to money?

Because people too lazy to learn about bitcoin, they know it but not to use it. And they prefer to fiat than bitcoin.
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January 21, 2016, 02:25:11 PM
 #25

I wonder if Venmo works with Bank accounts out of U.S well. While I was trying to sign up I noticed it didn't allow me to enter a Non US phone number, so I'm guessing this isn't really beating Bitcoin. Bitcoin is usable globally.
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January 21, 2016, 02:46:29 PM
 #26

can not be compared between venmo and bitcoin , because each has its own advantages .

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August 24, 2018, 05:13:48 PM
 #27


Wire transfer fees charged by the 10 largest U.S. banks:
Banks                    Domestic - Incoming   Domestic - Outgoing   Foreign - Incoming   Foreign - Outgoing
Bank of America               $15                     $25                           $16                            $45
Chase                       $15                     $30                           $15                            $45
Wells Fargo                       $15                     $30                           $16                            $40
Citibank                       $15                     $35                           $15                            $45
U.S. Bank                       $20                     $30                           $25                            $50
Capital One                       $15                     $25                           $15                            $50
PNC Bank                       $15                     $25                           $15                            $45
TD Bank                       $15                     $25                           $15                            $40
BB&T                               $15                     $25                           $18                            $65
SunTrust Bank               $15                     $25                           $30                            $50
AVERAGE                       $15.50                     $27.50                   $18.00                    $47.50


im not american.. im british.. and shocked that the US banks charge for that.

explains why america hates banks so much but loves bitcoin. but the uptake of bitcoin is slower in the UK
because we have had instead wire transfers that are free, for years. and easy userfriendly apps like Pingit

Why are you shocked?  

Most ordinary people don't use "wire transfers".


There is something called an ACH transfer, which is free for domestic to domestic bank. So wire transfers are more for international payments.

I was shocked that one is only supposed to use Venmo with trusted friends:
http://www.slate.com/articles/business/moneybox/2015/09/venmo_scam_and_fraud_why_it_s_easy_to_get_ripped_off_through_the_mobile.html

Lots of people getting scammed by receiving green checkmark with notification of funds in Venmo, but the funds are not actually there and the transaction is later reversed. These people could all have used bitcoin and waited 1 hour for confirmation.

How can any of you compare Venmo with Bitcoin and think Venmo is better when they can reverse transactions? More like venom than venmo.
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August 24, 2018, 05:17:36 PM
 #28

Venmo vs. Bitcoin

Venmo is a service of PayPal that allows anyone to send money via Facebook, phone or email, and has seen impressive growth, particularly among young professionals and social media users. In fact, over $2.1 billion has been transacted over Venmo, which integrates with Facebook and its 1.5 billion active users.



Additionally, Venmo is also planning to steal Bitcoin’s thunder in another arena by integrating with PayPal’s merchant services, which have supported bitcoin payments since spring 2015.

“The social component (and free marketing) helped Venmo go viral,” explains Techcrunch. “When you go out to dinner with a friend or share a cab or go on a weekend getaway and want to split the bill, Venmo is almost always the easiest option.”

Read full:
https://news.bitcoin.com/paypals-venmo-beating-bitcoin-p2p-payments/

Why would we be interested in a centralized solution?

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August 24, 2018, 05:40:09 PM
 #29

Until I will support bitcoin, I will develop bitcoin so that bitcoin is more interested by many people, now there are so many people who like bitcoin, working on bitcoin really helps my economy
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