Advantage of crypto payments system over traditional.

[mohdelayo]

Crypto payments have some superior benefits compared to traditional payment systems. However, more payment solutions are needed that will simplify the way users interact and use wallets so that anyone can easily send, receive or transfer crypto via their wallet or any platform.

Also, the issue of irreversibility of funds can also deter an average no coiner from using crypto payment in case of user's fault when sending crypto payments. Then finally is the volatility issue which shouldn't be a problem if users will adopt stablecoin.

I think with time, and some standard regulatory frameworks, we should see more traditional adoption of cryptocurrency.

My only issue with cryptocurrency and where i see that adoption could get delayed is in the area of complication that is involved in utilizing cryptocurrencies. One require to have some level of experience and knowledge on the technical aspects of cryptocurrencies before they can fully utilize them.

[sky20]

Yes there are some advantages in crypto payment for which it is definitely better then traditional payment. But i would not like to say that crypto payment easy to send for everyone in the world. But i am optimistic about it. with in few years it will be more easier then before.

[Thymoty]

Traditional payment systems have all kinds of built-in limits, checks, human errors and legal boundaries. That being said, all of the above works against the client, always. In crypto, however, everything is in the hands of the users. This is why the main cause of its growth in popularity is how it offers independence in handling your finances!

Yes, you are right, by applying cryptocurrency to our daily payments, we can save a lot of costs, make payments faster, anonymous, and more practical than carrying fiat currency in our pocket. I look forward to the day that our government legalizes cryptocurrency in everyday payments.

[Lorix]

Traditional payment systems are much better in cryptocurrency. However, this does not apply to all countries. Cryptocurrency can be done through the largest transaction bank in the countries where traditional banks have approved bitcoin. Many developed countries have already been able to do traditional transactions because their governments have been able to make digital currency transactions with their country as technology advances. Because people in many countries feel more comfortable keeping pace with human life technology. So I think cryptocurrency is definitely more popular for traditional transactions.

[Confero]

Actually, Cryptocurrency has many advantages when batting with traditional payments, but maybe because many people don't understand Crypto so they think traditional payments are better.  In my area there are still many people who don't understand what Bitcoin and Cryptocurrency are, even they think this is online gambling.

[Quart]

Crypto payments have no limits and it can be used to all people around the world. Also, crypto payment don't use the third party to spend big amount of fees. While in traditional payment needs banks to transfer money. And it always costs big money to transfer with banks as the third party.

[Mexite]

Crypto payments are fast, especially for cross-border transactions, generally low-cost, and supports micropayments which may not be obtained with traditional payment system.

However, not all cryptos satisfy the requirements of payment crypto but are mere utility tokens to be used on the issuing platform. I for one think stablecoins are better suited for payment as they preserve their value during and after transfer unlike BTC and altcoins which are volatile, and are not favorable to merchants as a means of payment.

[TERMINO]

Traditional payment systems have such complications. In comparison, all payments made in cryptocurrency are much easier, It allows you to make any payment in a matter of seconds. It all depends on you. That is why its popularity is increasing

I agree the traditional system is a consuming time before you are done with your transaction. There are a lot of things to comply and signatures to show that the identity is correct input. Different in cryptocurrency payment in just a second you are already done. Your transaction is complete.

[syedrasool2011]

The increasing rate of cryptocurrency adoption has seen huge repercussions across many business sectors as companies strive to keep up with the crypto revolution. Needless to say, online payments have become big business as more people choose to purchase goods and services online. Market data reveals that the online shopping market alone is expected to hit $4 trillion USD this year, attracting more cryptocurrency companies to the sector and making the global adoption of cryptocurrencies a reality.

[MRM]

Cryptocurrencies are much more convenient to trade with traditional banks. Bitcoin in particular is traded with traditional banks in different countries. Such transactions are very important in cryptocurrency. I think one bitcoin or cryptocurrency transaction is very important all over the world. Banks are definitely good for transactions. Cryptocurrency users will enjoy many benefits if such transactions are introduced.

[Paglamon]

You use a currency that can be transacted through banks. Such currency is definitely for the development of the people. Bitcoin is one of the most talked about and popular currencies in the world. This currency is traded with approved banks in different countries. Traditional bank is a bank of advanced stage for transactions. There are traditional banks in different countries and transactions in them are a matter of happiness for cryptocurrency users.

[Dociko]

Cryptocurrency transactions with traditional banks are easier and easier. I think banks in every country in the world will approve cryptocurrencies. Senior bank officials fear that Bitcoin fluctuates a lot, meaning there is a risk of time loss and profit. The government of the country does not get any tax from this transaction. So this is a big problem. However, you have seen in various news outlets what the big economic and commercial organizations think about this.

[gunhell16]

Traditional payment systems have all kinds of built-in limits, checks, human errors and legal boundaries. That being said, all of the above works against the client, always. In crypto, however, everything is in the hands of the users. This is why the main cause of its growth in popularity is how it offers independence in handling your finances!

The advantage of crypto payment is that you don't need to go outside to pay something, just like for example in billings, I used Bitcoin as a mode of payment to pay my bills here in my country, no hassle, no need to commute or to fall in line in the counter just to pay your bill, also I can load myself via crypto as well something like that.

[svetlana]

This is primarily the convenience for users. Crypto payments save time because all bills can be paid online without leaving home. And in our time it is very important.