Bitcoin Can Be More Efficient Than Bank Transactions

[wildflower18]

Yes, I agree with you. Bitcoin is more efficient than bank transaction, this is the reason why people tend to use bitcoin, not banks anymore

I agree, in bitcoin transactions the transaction is faster and more accurate and efficient than more complicated bank transactions even though there is already an e-banking application

This is right, bitcoin really shows and proves that it could be more efficient through this year. The cheap transactions fees and other features it has for the users. So although there are many things to do to be completely use btc in the future.

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[bitfocus]

yes, and cheaper also, according to a recent News.Bitcoin.com article, BTC transfers are 6000 percent cheaper than BOA.

[resty]

Bitcoin transfers even between countries on average the administrative costs are very cheap. Obviously more profitable than banking transactions, the administrative costs of which are still expensive.

I hope that all banks can see opportunities for Bitcoin to be utilized. Although I acknowledge the central bank's concern if Bitcoin transactions are used for prohibited matters.

One step that can be done by the Bank is to allow Bitcoin transactions on condition that they have to be registered on a special platform. Later the patform must be accompanied by a central bank permit.

This means that all bitcoin transactions must be recorded by regulators, now there are many illegal bitcoin transactions without permission and without supervision from regulators.

There is one country that can use it, for example in Japan that allows transactions with Bitcoin, even for payments in retail stores.

The government in Japan actually allows retail stores to accept payments via bitcoin. There are 4,000 stores that accept bitcoin payments. So far there are no problems. Even the Japanese government is making its own cryptocurrency.

Indeed! Actually Banks are prone to bankruptcy for the value of money there was fixed compare in decentralized transactions. Also, when we are transacting in crypto world, users are anonymous resulting to lower risks while transacting aside from hacking issues.

[Snyderfx2]

Bitcoin is certainly efficient that bank transactions and also very cheap considering transaction fees and those are the main reasons that bitcoin was invented in the first place to do transactions more effective manner unlike any other system in the world and it worked and even there are many other altcoins in the market that are better than speed and the price still bitcoin is better than bank transactions in many ways

[Valer4ik]

this does not mean that the price should grow, since investors' input is most likely realized through OTC (over-the-counter transactions), through skype, at face-to-face meetings, etc.! Now there is accumulation of crypto assets, if the green light is given, all this will be poured into the stock exchanges, then the boom will begin!

[nealdlover]

Bitcoin transfers even between countries on average the administrative costs are very cheap. Obviously more profitable than banking transactions, the administrative costs of which are still expensive.

I hope that all banks can see opportunities for Bitcoin to be utilized. Although I acknowledge the central bank's concern if Bitcoin transactions are used for prohibited matters.

One step that can be done by the Bank is to allow Bitcoin transactions on condition that they have to be registered on a special platform. Later the patform must be accompanied by a central bank permit.

This means that all bitcoin transactions must be recorded by regulators, now there are many illegal bitcoin transactions without permission and without supervision from regulators.

There is one country that can use it, for example in Japan that allows transactions with Bitcoin, even for payments in retail stores.

The government in Japan actually allows retail stores to accept payments via bitcoin. There are 4,000 stores that accept bitcoin payments. So far there are no problems. Even the Japanese government is making its own cryptocurrency.

I think that in order for bitcoin to work properly, there must be a consensus or management to ensure that the transactions of people with bitcoin are safe and that no malicious actions harm the user. . At that time, people would be able to use it as an official currency

[zarintasnim]

Bitcoin is border less transaction  and it very first rather bank and also cheaper. Now days so many people use bitcoin for their payment its very first and  hassle free.People love bitcoin transaction rather then bank. All over the world bitcoin are accept very good payment system.

[Maikl]

Bitcoin certainly wins on all points. And soon they will be able to pay in all countries. Remember phones yesterday cell was push-button, now with the help of phones, we Supplement reality, landlines remained, mobile phones did not displace them (completely) as well as with money, now more and more people pay with cards than cash, and very soon it will be a cryptocurrency and a gradual departure from Fiat currencies!

[SachinGuptaa]

Until now we have been using banks as a medium for exchange. All our transactions are governed by banks, acting as mediators and a necessary authority in order to make any transaction possible.

That was until currencies like Bitcoin came into existence and completely transformed our belief about money and how it functions. Banks which were considered as an efficient way of exchanging money. How amazing would it be, if we could just transfer some money from our pockets to any individual or stranger in any part of the world, that too without any mediator to perform the task for us? That's exactly what bitcoin does. You can transfer the money you have to any person on the planet without both of you having to open a bank account and put some money on it.

One of the biggest benefits of transferring money via bitcoin is that there isn't any mediator to control the transactions, you can willfully do whatever you want to do, transfer any amount of money you want without having an authority telling you what you can and cannot do. Also, there are no added charges with bitcoin as there are with banks.
The benefits of using bitcoin far outweigh the reasons why you should still use banks. And that is why we say that bitcoin can be more efficient than banks.

[YoungPalom]

Any transaction is based on the principle of profit. Bitcoin can't be compared to the Bank because it is so different and the transaction is different.

[xvacator]

Any transaction is based on the principle of profit. Bitcoin can't be compared to the Bank because it is so different and the transaction is different.

Yes, I agree with you. Bitcoin can solve the bank's problem especially for the speed of the transaction although bitcoin transaction is not too fast. Still, it is fast bitcoin than the banks. Besides that, bitcoin can be sent to any places without any border, and the fee transaction can reduce no matter how much we want to send the amount.

[SusanAnn]

Cheaper, more convenient also. I think bitcoin have so many advantages over banks

[Dimonhamon]

Banking transactions will soon go away in history. Bitcoin is our future that will come very soon.

[Snyderfx2]

Banking transactions will soon go away in history. Bitcoin is our future that will come very soon.

It will definitely happen because with bitcoin concept many learned how ineffective and inefficient traditional banking systems are and that is why many industries getting attracted to bitcoin and its market to see what kind of change they can do by adapting bitcoin into there transaction processes so definitely bitcoin is the future currency of transactions

[rafi035]

Bitcoin transfers even between countries on average the administrative costs are very cheap. Obviously more profitable than banking transactions, the administrative costs of which are still expensive.

I hope that all banks can see opportunities for Bitcoin to be utilized. Although I acknowledge the central bank's concern if Bitcoin transactions are used for prohibited matters.

One step that can be done by the Bank is to allow Bitcoin transactions on condition that they have to be registered on a special platform. Later the patform must be accompanied by a central bank permit.

This means that all bitcoin transactions must be recorded by regulators, now there are many illegal bitcoin transactions without permission and without supervision from regulators.

There is one country that can use it, for example in Japan that allows transactions with Bitcoin, even for payments in retail stores.

The government in Japan actually allows retail stores to accept payments via bitcoin. There are 4,000 stores that accept bitcoin payments. So far there are no problems. Even the Japanese government is making its own cryptocurrency.

Bitcoin transfers even between countries on average the administrative costs are very cheap. Obviously more profitable than banking transactions, the administrative costs of which are still expensive.

I hope that all banks can see opportunities for Bitcoin to be utilized. Although I acknowledge the central bank's concern if Bitcoin transactions are used for prohibited matters.

One step that can be done by the Bank is to allow Bitcoin transactions on condition that they have to be registered on a special platform. Later the patform must be accompanied by a central bank permit.

This means that all bitcoin transactions must be recorded by regulators, now there are many illegal bitcoin transactions without permission and without supervision from regulators.

There is one country that can use it, for example in Japan that allows transactions with Bitcoin, even for payments in retail stores.

The government in Japan actually allows retail stores to accept payments via bitcoin. There are 4,000 stores that accept bitcoin payments. So far there are no problems. Even the Japanese government is making its own cryptocurrency.

practical, efficient and fast it is cryptocurrency created in the economic system using advances in time and technology so it will certainly be more practical and faster than the banking system

[Pattart]

I'm sure that bitcoin will be more efficient than bank transaction. It provides cheaper, safer and faster transaction. One more thing is that bitcoin transaction is completely anonymous

Yeah you right, compared to bank transactions it would be far better to use bitcoin, especially if you can do transactions with anyone anywhere in various countries without fear of differences in bank providers and high fees, the transaction speed is also undoubted and the special is anonymous..

[warning_btc]

Bitcoin will be developed how more efficient method of  transcontinental transfering moneys.
Main advantage is transaction speed and low cost fee

[Tryphena5358]

Yes, and cheaper, according to a News article. It's not like any other system in the world and altcoins in the market are better at speed and bitcoin prices are still better than bank transactions in many ways.

[msk19]

Transactions with bitcoin are without a doubt much more profitable than banking transactions. But to transfer money it is necessary only to trusted users, because to get back your bitcoins, you will not be able.

[Inikoo]

Sure, it is more efficient, actually it is not very hard to be more efficient, than the banking transaction system Still, I do not think banks will use Bitcoin, to make transactions faster.