Benefits of bitcoin(cryptocurrency) to fiat currency transaction? How easier?

[Olayinka225]

Even since i know about cryptocurrency, i never stress out about the transaction, even though there might be some day that there going to be clog transaction network but i never regret it

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[Olayinka225]

But come to think of it,  those times that you have a very clog transaction network hmmmm, you know things might get worse, loose some money, get frustrated, stressout, get impatient, curious about when and when is the transaction going to go through.

[markiplier.jack]

Conversion to fiat is mostly beneficial to protect oneself from the risk of price fluctuations. You can use exchanges like Coinbase and Gemini to turn any cryptos to fiat. If you are looking to trade your Bitcoin directly for physical cash then LocalBitcoins.com may be a better solution. But most importantly do mind the fees and also the timing they take for conversion. So read the FAQ's of native sites well before using any services.

[Kmoris]

Yes i agree. Besides, I think bitcoin doesn't have any conversion of money, wherever you go to this world. So, it is very easy to use

[IBXNetwork]

I've never had good relation with banking services. Indeed I don't even know how to use the Home Banking feature properly. For me it's much easier to handle with a crypto wallet that with shitty IBANSA and have to talk with a employee on phone when I have any trouble

[jak3]

 Well, that's good because very few people think about it as the network mostly refunds your money into your Bitcoin wallet.  I do not like that physical currency because it involves a lot of politics and government stuff. They charge us a lot of tax for doing nothing suggest a charged tax for transferring money but they do not transfer any money from anywhere so they literally making money for nothing. I think this type of banking system should be closed because they are not providing their service for which they wear made.

[Crgvictor]

Bitcoin is a worldwide digital currency. You can transaction bitcoin from one country to another country. But you can’t do this with fiat money. Because this money makes for only one country and it is not acceptable by other country.

[Lalafell]

Bitcoin is a worldwide digital currency. You can transaction bitcoin from one country to another country. But you can’t do this with fiat money. Because this money makes for only one country and it is not acceptable by other country.

Yes, every country they have own currency. Bitcoin is a digital currency you can use anywhere and anytime you want but you need first to convert bitcoin money into cash or currency in what country you like to transact.

[joellogan]

Well if you want to convert your fiat to any cryptocurrency then it is really great for you. You are investing here and can get much profit from here. It is really easy to do this and any exchanges like binance etc can help you with that.

[salinagomez]

Crypto currency is not yet being widely used as a method of exchange, this makes people to convert their coins to fiat currency. while converting the coin holder should choose good exchange sites like Coinbase or Gemin; mentioned by 9one of the user in the post.the user should also be careful of the time and fees needed.

[dutchkay]

Cryptocurrency have many benefit over fiat which have made it quite popular and peoples choice. Cryptocurrency have solved remittance issues and making it easier to move money around faster and cheaper. Remittance have been a problem and those that have send money to loved ones in a different country will know better. Cryptocurrency also make it easier to hold your money without third party while you gain little or no incentives while holding it.

[rsrb]

The users will have a decentralized system. They will even have protection of the privacy and they will have the freedom of their respective transactions. Apart from that, it is easy to use, portable and durable and the transactions can be done quickly. And lastly, it reduced fraudulent activities from it.

[Indamuck]

One of the downsides is that transactions may be too easy.  What I mean by this is that you can enter in the wrong sending address and have no chance to recover your funds.  Always triple check the amount you are sending and if its to the right address.  There is even malicious software that can automatically change the address without your consent.

[dothebeats]

Replying to the OP title, there's a lot of hassle when travelling into another country, specially in what currency will you be using. Credit cards do the trick, but most of the companies ask for some form of interest which doesn't sound good in any way. Bitcoin solves that problem and can be used anywhere provided that shops and stores recognize it as one of the payment options. Sadly though, not much stores and outlets consider looking up on cryptocurrencies as one form of payment due to its volatility and most of the concierges such as Bitpay also charges an interest when using their service.

[IndigoRed]

Bitcoin or any other virtual currency has so many benefits. The fact that it is decentralized, gives ownership to the user. Another feature of bitcoin is that it can curb fraud and identity thefts, thanks to the transparency provided by blockchain. It enables easy peer-to-peer transactions and is also a great way to maintain records for tax purposes.

[sakahayang]

Even since i know about cryptocurrency, i never stress out about the transaction, even though there might be some day that there going to be clog transaction network but i never regret it

It's very easy to use Bitcoin, you just need to exchange your country currency to Bitcoin and you can trade around the world that can receive Bitcoin.
The long process of Bitcoin is caused by the many transactions used by the rest of the world, the Bitcoin network is unable to accommodate users worldwide. but I'm sure you already know all that, so yes do not need to be confused, stay relaxed.

[ClaytonLWils]

The main benefit of using crypto rather than fiat currency is that you can transact and carry crypto as much as you want anytime anywhere.

[Ahsadahmed]

I think bitcoin is more beneficial because it has fast transaction than fiat and it is also very easy to use and it provide a good security system as it doesnt reveal the identity of the person who transact it.

[samuelsmith]

That's an interesting post. It's good to have such belief and trust in cryptocurrency. But also under circumstances like clog transaction system, things might get worse, so you must be cautious enough and mentally prepared.

[bajarang8668]

No chargeback when you shopping, transparent, fast transaction, never you reveal your identity and also you should transaction in the world so no country boundary. Bitcoin transaction is peer to peer so no anyone middle man.

[Brenda Karenn]

Bitcoin transactions are very fast compared to banking channels. A Bitcoin transaction is as fast as an e-mail and can be processed with in 10 minutes. Also it can be instantly processed if they are “zero-confirmation” transactions. Credit Card or digital wallet services also provide instant approved transactions services but for this they usually charges a hefty fees.

[Cynthia Andradee]

The fees of Bitcoin transaction is extremely low compared to conventional methods of moving money. It's definitely quicker in international transaction, as well. While Bitcoin transactions are generally confirmed with an hour, international wire transfers can take from a few days to more than a week.

[Ilegendph]

Well, that's good because very few people think about it as the network mostly refunds your money into your Bitcoin wallet.  I do not like that physical currency because it involves a lot of politics and government stuff. They charge us a lot of tax for doing nothing suggest a charged tax for transferring money but they do not transfer any money from anywhere so they literally making money for nothing. I think this type of banking system should be closed because they are not providing their service for which they wear made.

I don't believe that the government don't do nothing for us. I believe that in your country there are concrete roads that you walk in and services like registration of birth and death.

The fees of Bitcoin transaction is extremely low compared to conventional methods of moving money. It's definitely quicker in international transaction, as well. While Bitcoin transactions are generally confirmed with an hour, international wire transfers can take from a few days to more than a week.

What you said is true only if you are transacting online. Other than that I believe that bitcoin would be costly if used on a local transactions.

That's an interesting post. It's good to have such belief and trust in cryptocurrency. But also under circumstances like clog transaction system, things might get worse, so you must be cautious enough and mentally prepared.

Your post brings back me way back last year where bitcoin and ethereum gets in trouble and made a huge impact on its prices.

[erickkyut]

Even since i know about cryptocurrency, i never stress out about the transaction, even though there might be some day that there going to be clog transaction network but i never regret it

same here! I never regret making transactions in blockchain. There are times wherein the transaction speed is very low due to congested network but it still much better compared to money remittance of fiat because blockchain transactions are non taxable. It is faster, cheaper and easier!

[batang_bitcoin]

Even since i know about cryptocurrency, i never stress out about the transaction, even though there might be some day that there going to be clog transaction network but i never regret it

No need to tell that someday there will be clog in transactions, it's happening today. ETH network has been congested and the same goes for bitcoin.

Why is this happening? there are so many users that has been transacting at the same time and this is inevitable. For a coin that can process a lot of transactions for each second will keep on telling that they are better but once they are crowded, they'll undergo with the same problem.

[ogabonny]

Things will get better as time progresses, bitcoin for example has a lot of nodes already running the lightening network,that is why tx is faster these days and in few cents,something you can't get with fiats

[Akiko]

Things will get better as time progresses, bitcoin for example has a lot of nodes already running the lightening network,that is why tx is faster these days and in few cents,something you can't get with fiats

We can not deny that crypto currency/bitcoin are having a big advantage that will helps to many  people here, such as in crypto you can earn from with it. also bitcoin can used it as a payment, like online transactions and as an investment.

[Jolozxc]

I agree cryptocurrency(bitcoin) transaction is better than fiat or other currency, But like what other said the only problem I also see here is everytime the price goes down its really not feel good but when it goes up its ok, But in terms of transaction speed it's really good.

[Pamela Silvaa]

As I think, Bitcoin transactions require no paperworks sch as ID card, passport and proof of address like banking system does. This's beneficial if you want to transfer money abroad.  All you need to do to start sending and receiving Bitcoins is to download a Bitcoin Wallet program and generate a Bitcoin Address.

[Frank Norwoodd]

Convenient, fast, and quick method of transferring money is what used to talk about Bitcoin transactions.
-First, Bitcoin transactions is anonymous and private. Your transactions can't be tracked or identified thanks to the Blockchain techonology.
-Second, Bitcoin provides you utmost freedom. You can transfer money anywhere, anytime, and to anyone without being afraid of holiday or boundary.
-Third, you only have to pay a minimal fees and even no fee for your transactions.
- Finally, no taxes are charged.
In conclusion, Bitcoin has superiority in transaction over fiat money.

[Dana-pasar]

bitcoin It's easy to trade transactions like paper currency in some countries. but bitcoin is also very easy for us to exchange with paper currency or with other cry .

[calumbautista23]

Transactions using digital money limits no boundaries. You can transfer money anywhere in the world faster and cheaper than any banks.

[resty]

Even since i know about cryptocurrency, i never stress out about the transaction, even though there might be some day that there going to be clog transaction network but i never regret it

Bitcoin transactions in any different way is very much easier the important is always there is an internet load to process all transactions in a minute on time. Very convenient  how faster and easier than the oldest method of transaction.

[neilshetty]

Bitcoin solves that problem and can be used anywhere with shop and store conditions recognizing it as one of the payment options. Bitcoin or any other virtual currency has a lot of benefits. Another feature of bitcoin is that it can limit fraud and identity theft, thanks to the transparency provided by blockchain. The main benefit of using passwords instead of fiat currencies is that you can trade and carry as many passwords as you want anytime, anywhere. That is an interesting post. But also in cases like the transaction system clogging, things can get worse, so you have to be cautious and mentally prepared.