Why I will never compare cryptocurrency to our traditional/financial institution

[pakhitheboss]

I have worked myself out in past years searching for how to make money on the internet, I've bought e-books, registered on website that requires you to pay some amount of money before you can start using their platform. But all these turn out to be a total waste of time and resources, because all the money made from these platforms I was never able to withdraw them, because PayPal will never accept my country. Everyday I pray for miracle to happen that will make PayPal to accept my country. But paypal never did! And I never gave up.

I am sorry to hear, that you had faced so many issues, trying to make money using Internet. But, you should have done some reseach using Google and you could have found thousands of ways to make money on the Internet. Through your post my understanding was that there is only one payment processor that you are aware of and that was Paypal. There are tons that work in Nigeria. For example PayU, Western Union, Payoneer and etc Most of the Internet earning based companies do offer these option apart from Paypal.

Not until the birth of Blockchain/Crypto! PayPal is scared of Crypto, it CEO and all other financial institutions both offline and online will try every means to label Crypto a scam and illegal, But the fact is that, Crypto is here to stay, Crypto is a  game changer, it an eye opener, I can do whatever I  want to do online now with help of blockchain without thinking twice!

Everyone who has been into Cryptos knows that it here to stay and is disrupting the way financial giants were working. This is a known fact.

I still did not understand what you meant in this post?

[esquivel]

Cryptocurrency is the future. It has gained acceptance all over the world. The recent announcement of Rakuten acknowledging Bitcoin is a big step towards achieving cryptocurrency's full potential.

[osuala]

I still did not understand what you meant in this post?

If you don't understand anything in this post, sorry for I can't say much! Because it's quite clear that you have problems in understanding things.
That's if you will ever come back to this thread again!

[1NV3ST0NM3]

There is no sense in comparison of crypto coins with the traditional financial instituitions. Because they both are two different worlds. While crypto is new and trending, it is the most used investment option these days. Traditional finance instituitons come up with a whole different range of equity and debt instruments which are different from this virtual world that has led to emergence of decentralized economy. In fact both these different worlds have their own benefits. There's risk prevelant in each n every form of investment. So the risk factor is the common. What varies is the degree of risk.

[sehoon]

Same. I also find comparing cryptocurrency to our traditional/financial institution since these two work in different ways. And the similarities between these two things are you can buy things with these things and convert the other one to the other.

[Simsonie]

yes, I agree with you. It is waste our time to compare cryptocurrency to our ttraditional/ financial institution. Both of it have its own character, we should see its future and how it develop

[cabron]

I felt it when paypal was the only hope I have and I been denied with it? ITs the most frustrating of all tragedy that had happen to me. Blockchain and Cryptocurrency is the answer. No one can block nor deny you. This is the most amazing of all invention of all times that it can be used not just in crypto but for almost everything. It may take time before the adoption of this technology but its all coming soon.

[anavir]

cryptocurrency needs to be converted to our present currency before we can use it while in our traditional it can be accepted whenever you use it to pay whatever you purchases

[Miklight88]

I think crypto and blockchain is an eye opener truly and has break the barrier of delay and high fees of sending money of receive form any where in the world and that has been the major reason we have seen lot of the big boys going against it for time being,
But blockchain is here to stay but traditional currency still have its own role too and can't be eradicate.

[Dudeperfect]

Bitcoin and cryptocurrencies are based on the blockchain technology which relies on the principle of decentralization. Whereas the traditional infrastructure is based on centralisation philosophy that means we have to rely on the third party in this case. That's why comparing the end user technology doesn't make any sense unless we are comparing the utility value of the cost of the process of transferring funds from one point to another.

[charlotte04]

In past years, the utilization of e-currency, making online  transactions, doing shopping and lots more has always been limited to some setting countries.

Some countries are like outcast when it comes to Using e-currently for online transactions, which is very common among the Africa continent, and a practical example is Nigeria.

I'm using Nigeria as a case study because this is where I'm from and I know how it feels to be rejected by some financial institutions, especially when they are the only hope you have, eg PayPal!

I have worked myself out in past years searching for how to make money on the internet, I've bought e-books, registered on website that requires you to pay some amount of money before you can start using their platform. But all these turn out to be a total waste of time and resources, because all the money made from these platforms I was never able to withdraw them, because PayPal will never accept my country. Everyday I pray for miracle to happen that will make PayPal to accept my country. But paypal never did! And I never gave up.

Not until the birth of Blockchain/Crypto! PayPal is scared of Crypto, it CEO and all other financial institutions both offline and online will try every means to label Crypto a scam and illegal, But the fact is that, Crypto is here to stay, Crypto is a  game changer, it an eye opener, I can do whatever I  want to do online now with help of blockchain without thinking twice!

God finally answered my prayers!

The full potential of blockchain is yet to be discovered, I urge every Crypto enthusiasts to be optimistic in their quest for utilizing the full potential of this great technology that we have in our disposal.


God blessed every Crypto evangelist.

Yes, crypto is really different from any other kind of payment system. Crypto is still young and many things will have to change in the long run and we just have to support it.

[osuala]

I felt it when paypal was the only hope I have and I been denied with it? ITs the most frustrating of all tragedy that had happen to me. Blockchain and Cryptocurrency is the answer. No one can block nor deny you. This is the most amazing of all invention of all times that it can be used not just in crypto but for almost everything. It may take time before the adoption of this technology but its all coming soon.

Honestly, it's only those that has previously been affected by our traditional/financial institutions like PayPal, that will understand and appreciate the relief blockchain technology has brought the their lives, I'm a partaker of these benefits of blockchain technology.

It's clear that must nation are yet to utilize the benefits of blockchain technology, but that doesn't mean we should not  share our positive testimonies.

An ungrateful is likewise to be unfaithful.
I'm faithful to blockchain quest....

[ocid]

In past years, the utilization of e-currency, making online  transactions, doing shopping and lots more has always been limited to some setting countries.

Some countries are like outcast when it comes to Using e-currently for online transactions, which is very common among the Africa continent, and a practical example is Nigeria.

I'm using Nigeria as a case study because this is where I'm from and I know how it feels to be rejected by some financial institutions, especially when they are the only hope you have, eg PayPal!

I have worked myself out in past years searching for how to make money on the internet, I've bought e-books, registered on website that requires you to pay some amount of money before you can start using their platform. But all these turn out to be a total waste of time and resources, because all the money made from these platforms I was never able to withdraw them, because PayPal will never accept my country. Everyday I pray for miracle to happen that will make PayPal to accept my country. But paypal never did! And I never gave up.

Not until the birth of Blockchain/Crypto! PayPal is scared of Crypto, it CEO and all other financial institutions both offline and online will try every means to label Crypto a scam and illegal, But the fact is that, Crypto is here to stay, Crypto is a  game changer, it an eye opener, I can do whatever I  want to do online now with help of blockchain without thinking twice!

God finally answered my prayers!

The full potential of blockchain is yet to be discovered, I urge every Crypto enthusiasts to be optimistic in their quest for utilizing the full potential of this great technology that we have in our disposal.


God blessed every Crypto evangelist.

from your story that I see it looks like you have found the biggest achievement in terms of transactions in your country, and hopefully crypto gets a wider response because like the experience you told me this shows that crypto has a tremendous advantage for every user.

[aoluain]

I felt it when paypal was the only hope I have and I been denied with it? ITs the most frustrating of all tragedy that had happen to me. Blockchain and Cryptocurrency is the answer. No one can block nor deny you. This is the most amazing of all invention of all times that it can be used not just in crypto but for almost everything. It may take time before the adoption of this technology but its all coming soon.

Honestly, it's only those that has previously been affected by our traditional/financial institutions like PayPal, that will understand and appreciate the relief blockchain technology has brought the their lives, I'm a partaker of these benefits of blockchain technology.

It's clear that must nation are yet to utilize the benefits of blockchain technology, but that doesn't mean we should not  share our positive testimonies.

An ungrateful is likewise to be unfaithful.
I'm faithful to blockchain quest....

Interesting thread. We in the west take many things for granted while others in the world
struggle with what we may consider the basics.

The OP has given a first hand example of how crypto is helping him in his life when he/she
can not access some of our basics.

[[ProTrader]]

Congratulation because God hear your prayers. It's  good to hear that crptocurrency really touch the lives of common people. Currently,  Paypal's the profit was cut down because of cryptocurrency. Even banks tried to suppress it to the point where they will close your account because of crypto transactions but they will not succeed because crypto cannot be stop.

[thankyoulord]

The truth is that Cryptocurrency is really a game changer. Not too quite long a time, I wasn't able to use paypal because of the ban placed on my country here, but since the entrance of cryptocurrency into the global market, it has really provided a way and a window of opportunities for those who  make their money online and rely on some of these platforms that thing they are the God of the world. And this is really a welcome development. We can't be in 2018 and live like we are in 1854 where there is only a boring stereotype of system of operation. So really, cryptocurrency has come  to change the old way to a more widely accepted way of doing things.

[zoeylee]

Of course i will never compare cryptocurrency to our traditional and finacial institution it is because we are now in the new era of the advancement of technology.

[cybernetik7]

I guess, it is too early to compare them, because c-currency is at the start of its own way but use of e-currency has been in progress for decades. c-currency may become superior and can be used for online transactions, shopping, and other uses. Also, it is an advantage for c-currency that use of e-currecy in developing countries is very limited. Although it is in its developing step, c-currency is a candidate in order to be fully able to meet everyone needs.

[bitcoindusts]

I'm really glad that you finally found a way to exist liberally in the digital space through cryptocurrency.

Perhaps, this is one (among many others) characteristic of cryptocurrency that we all should be thankful for; being permission-less. Well of course, should the country decide to ban the usage of crypto then that will be another story. But really, bitcoin broke the barrier of countries when it comes to payment and transactions. It was really out of this world, an effective currency system that does not care whether you're from Europe, Africa or wherever part of the world. It did not set boundaries, everyone was welcome to utilize its technological offering.

That is why i also find it hard to compare cryptocurrency with traditional financial institutions, as both sports an economy of their own separately.

[happy weblancer]

There is no sense in comparison of crypto coins with the traditional financial instituitions. Because they both are two different worlds. While crypto is new and trending, it is the most used investment option these days. Traditional finance instituitons come up with a whole different range of equity and debt instruments which are different from this virtual world that has led to emergence of decentralized economy. In fact both these different worlds have their own benefits. There's risk prevelant in each n every form of investment. So the risk factor is the common. What varies is the degree of risk.

You are right, however, for a long time, banking and non-banking financial institutions began to produce online products and services that intersect with digital money. Therefore, today, when fiat money transactions are carried out online, like digital ones, the difference between them isn't so big anymore.