Would you like me to outline even more ways that bitcoin saves me money vs the traditional financial system? Or would you like to continue to base your opinion on what people are telling you you should do? Perhaps in your region there are mitigating factors that give you fewer options, but from where I sit, along with many others in similar situations, Bitcoin already offers more cost effective options and, as you quoted, are increasingly offering more. I anticipate I'll be using bitcoin for 90% of my financial dealings .
As a financial advisor by trade I would LOVE you to! But I'd like some clarification on basing my opinion on "what people are telling me you should do"? I am located in the United States/ Chicago, pretty sure there's as many ( or close to ) options here as anywhere.
A bit of my personal feelings for the record - with Aug 1 looming and all that it has brought about I've started to sour a bit on BTC. First the exchanges, say whatever you want facts are facts. Low level websites with poor customer service isn't here and there, it's the norm. At present moment BTC has become slow to send/receive at times and also has become increasingly more expensive to buy/sell/exchange.
There are so few business that accept Bitcoin in the US in a "normal" persons everyday life (rising expenses have made many re-think accepting it as of late to boot). I've been to 1 restaurant that accepts BTC, one bullion exchange I really like accepts BTC, an online pharmacy I use accepts it and the list of places in my everyday life end there. I'll also note as a huge crypto and blockchain supporter I'm extremely vigilant when it comes to seeing if whatever merchant I'm at takes it as payment.
I keep hearing how much less expensive it is but that's just not adding up in my head. It doesn't cost me a dollar to open a checking account at a bank. Doesn't cost me any money to leave it there nor does it cost a red cent to pay my bills each month where the bank physically prints and mails out checks. I pay my friends with Venmo for whatever reason which doesn't cost me or them a single penny.
My roomate is one of the few friends of mine who owns BTC. I actually sent him his first coins. I was paying my half of the utilities for the month. I wasn't really thinking and sent him over around 60 USD and he ended up receiving around 55 USD. Loss of 5 bucks that had we used Venmo, Chase Quickpay or cash no loss occured at all.
Again I am 1000% behind BTC, Alt-coins, and the block-chain technology. I've read several books, and spent many hours reading credible sources online. I see where businesses can save money, especially with the implementation of block-chain to replace old archaic systems..but for the everyday individual I'm having a harder time justifying it's uses (this goes for those ONLY in the US to be clear).
Using for 90% of your financial dealings seems quite impossible. Also, at that percentage it seems a bit financially irresponsible in that you're then neglecting to build credit as well as earning free points through your credit card.
