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Author Topic: Benefits of bitcoin(cryptocurrency) to fiat currency transaction? How easier?  (Read 182 times)
Brenda Karenn
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July 18, 2018, 10:17:15 AM
 #21

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.
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Cynthia Andradee
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July 18, 2018, 10:20:07 AM
 #22

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.
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July 18, 2018, 10:26:08 AM
 #23

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.

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July 18, 2018, 10:28:49 AM
 #24

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!

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July 18, 2018, 10:29:02 AM
 #25

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.

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July 18, 2018, 10:32:35 AM
 #26

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
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July 18, 2018, 11:32:35 AM
 #27

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.

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July 18, 2018, 11:40:51 AM
 #28

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
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July 18, 2018, 11:42:28 AM
 #29

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
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July 18, 2018, 11:45:08 AM
 #30

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
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July 18, 2018, 11:47:40 AM
 #31

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 .

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July 18, 2018, 01:37:38 PM
 #32

Transactions using digital money limits no boundaries. You can transfer money anywhere in the world faster and cheaper than any banks.
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July 18, 2018, 01:53:52 PM
 #33

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.
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September 29, 2018, 10:38:31 AM
 #34

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.
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