Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Altcoin1998$ on October 27, 2020, 09:00:17 AM
-
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!
-
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, that's true mate, Crypto payments have more advantages compared to the traditional payment system, Because in cryptocurrency payments the transaction is transparent and almost instant, with lesser fees and many more, thats why crypto payments will be the new trend in cross border payment solution globally. and I believe it will grow more rapidly in the years to come.
-
crypto payment is an electronic payment, in which debit and credit of an account can take place within a twinkle of an eye, and it serve as the fastest means of transaction since it can be simply be tagged as a means of unified payment.
-
Personally I would say crypto is the best financial tools ever invented. Or what would you say about a means of settlement that give you liberty of spending, devoid of regulation, and freedom from third parties?
-
The reality on ground is that the traditional system is not yet ready to concede power to crypto payment system. Everyone in crypto currency today uses the local banking system as it is cheap and relatively convenient and i am sure you have also used your local banks today.
Crypto payment will only assist local traditional payment system; it cannot take over from them, not yet
-
Some advantages of crypto payment system over fiat:
- faster speed, by not through intermediaries;
- cheaper cost, usually, except when bitten by Crypto Kitties :)
- anonymous & secure;
- transparency for the entire community;
- difficult to manipulate and deceive;
- has many features thanks to the details of smart contracts.
-
When we pay in crypto, it will have lower fees. Also, it can be done everywhere around the world. Also, we can do the payment anytime without the need for third parties. I think crypto payment to bring many advantages if we can do the payment with crypto. But unfortunately in some countries, we still can't do it as it breaks the rules.
-
In my opinion, with crypto payments, it is possible for a user to make a mistake and lose their assets by sending crypto assets to the wrong addresses leading to the crypto asset being locked or burned. This can be seen as a problem with ERC-20 tokens during the ICO wave of 2017-2018.
So, no matter what form of payment, users also need the most basic skills.
-
There is a big potential with cryptocurrency to lead the payment industry as it is really designed that way. But how come we are not really seeing a significant rise of people who are into crypto payments yet? It is because as of now there are many hurdles that must be addressed first. And we already know what are the problems with cryptocurrency as a payment platforms. I am talking about the leading coins like Bitcoin and Ethereum. From scalability, transaction cost, speed and even security sometimes (including regulations) -- there are many issues that must be given sufficient solutions first before we can expect massive adoption.
-
The advantage of crypto payment is saving time and hassle free from actual payment over the counter. It is the most advance approach where the particular token convert to USD. This method will become popular timely for all who don't want to fall in line in the counter.
-
When you deposit money into your bank account, you become a creditor of the bank, that manages your money on your behalf.In transactions that you carry out with ‘your money’, the bank acts as an intermediary between you and a third party.Transactions with cryptocurrencies are peer-to-peer transactions or transactions from people to people.
-
I am not interested traditional payment method. This payment method have many problem. Many user suffer that reason. So this payment method not available for many country. Because cryptocurrency not accepted worldwide. So in future can be well traditional payment system.
-
Crypto payments systems have a way of inculcating the advantages of both worlds of Fiat and Cryptocurrency into a viable package that can appeal to both sides of the divide
-
That is why it is better if the company build through traditional system will try to adopt the system of cryptocurrency in a way that their business is not affected by the volatility.
-
Of course, if it is a trusted cryptocurrency that has a big value and also volume, it will be more precious and also worthy to be used than using traditional payment. It can be used for global payment more easily without getting consumed and a long time to send as using bank transfer.
-
Of course, in crypto users will feel more free to manage their assets. And this makes a lot of people interested. I think crypto is very flexible and also interesting. Besides being more profitable than the traditional system that we have used so far.
-
easier to use and has a high speed.
-
There are lots of advantage. You are your own bank and can make payments at any day, time not from the comfort of your home. All you need is access to the internet and you are fine
-
Traditional was from old system payment method using pen, papers, calculator, signature, and usually it is through the counter. Person to person process. More information need to verify just to identify that you are that person. Today, the payment system is revolutionizing just tip of finger your transaction was already done. This is because of the means of technology. The errors lessen. The accuracy is higher than the actual system. Hacking is the disadvantage of this method.
-
easier to use and has a high speed.
I don't think that crypto payment is easy to use by all people. But I agree that it is quite fast in speed, also no need the third parties. Crypto payment is a great solution for modern life. We can pay ourselves without the need for third parties anymore. You must know well about this advantage.
-
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!
Yeah r right dude. Cryptocurrency payment making fabulous impact.
-
Do not forget about high fee, comissions and service charges taken by traditional payments, banking or remittance services. Banking sector is really exploiting users by charging high interest rates while giving back small amount to depositors. So i want and support decentralized crypto ecosystem for everything related to payments, transfers, remittance, banking and finance.
-
Advantages of payment using cryptocurrencies compared to traditional or cash:
1. crypto is for global payment method without complicated rules
2. It can be used for very easy and simple global payment method
3. The crypto can be one of the payment methods that offer payment in worldwide and they are trusted, speedy, and also of course without complicated regulation
-
The gap between the advantages of crypto payments system over the traditional payments system is very wide. That is why people needs to get more and more awareness on the advantages that blockchain and cryptocurrencies have over traditional systems.
-
This crypto system is indeed simpler and more demanding for us to be independent. Because we are the ones who will determine the assets and how we manage them. So full control is in yourself. and this actually has a positive and a negative for us.
-
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, there are many benefits provided by cryptocurrency, for example faster transactions, free of third parties, etc. However, at this point in time, we cannot fully depend on cryptocurrency because the government has not yet regulated cryptocurrency. It would be great if the government started adopting cryptocurrency, so that more and more people could experience the benefits of crypto.
-
This is both good and bad. If you lose access to your wallet, you will lose money and no one will be able to help you. They can also steal your wallet and the fraudster can't be found.
-
crypto is done electronically so I think it's more faster than traditional one. The transaction fees is sometimes lower. one much not get error over destination address cause it might wipe out your payment and will not reach to them.
-
More faster. Direct to the point. Time saver. Navigation and usability. Also it is done just through your gadgets.
-
Cryptocurrency is a modern payment technology that has many advantages when compared to traditional payments, but despite the fact that many people even countries have not accepted it. Even though with Crypto we can easily make transactions, without the need for third party assistance at very low costs.
What's wrong with cryptocurrency, so that many people don't accept it?
-
Cryptocurrency payments are very convenient. You can pay without leaving your home. There is no need to waste time going to banks to pay for services. Transactions are instant. Commissions are low.
-
There are many advantages to the crypto payment system, namely fast, transparent, efficient, decentralized and very safe.
-
The increasing rate of cryptocurrency adoption has seen huge repercussions across many business sectors as companies strive to keep up with the crypto revolution. Online payments have become big business as more people choose to purchase goods and services online.
-
A payment system that uses crypto is decentralized and centralized. All systems are in crypto and users can choose it, we have seen many platforms offer easy transactions without 3rd party interference, and this is the preferred choice for crypto users, they will easily make transactions without having to queue at a bank or ATM machine
-
Quite right, because traditional payment systems for this were created to control all people and therefore it is necessary to get rid of these already outdated payment systems as soon as possible and here cryptocurrencies will help us, but unfortunately until the whole world switches to cryptocurrencies it can take a huge amount time, but in the future I still think that cryptocurrencies will be the main payment system.
-
For me it's a great way to avoid the horrible germs found on traditional money, that piece of paper and coin transmits loads of germs around the world and i don't understand why we are still using it.
Secondly, since we now have stablecoin, you can always convert your money from your bank account and credit card to currency like USDT, i do that alot especially due to volatility of cryptocurrency. You can have funds you use for trading and you can have stablecoins you can convert to currency of your choice either bitcoin or ethereum etc when you need to make payments if USDT is not accepted.
Also since crypto payments are usually decentralized, you don't have governments on your neck
-
Currently online payment systems are more in demand because they are considered more practical and the process is faster. I'm sure in the near future it could even be that online payments using crypto will be applicable in many segments.
-
In my country, even for KYC, every application from the Bank always uses the same trick as cryptocurrency.
It seems that this bank feels lost step by the presence of cryptocurrency in its financial system that is so transparent and so dynamic in various fields.
-
Being traditional is not too bad but being dependent on what you've practice is not practical, we have a fast phase changing world I think it's better to adapt the system if the system is giving a lot of possibilities and less error.
-
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!
Traditional transactions means old methods which are very much unfamiliar with banking and customer services. Crypto payments are very much quicker than the traditional method. Many of gigantic organisations are preferring to agree with cryptocurrencies payments.
-
The world regular system must shift to advance human approach through educational and friendly technology advantage. Fast and more accurate method is the best part of crypto payment. someday crypto payment will become like cashless method in some countries. Not difficulty to navigate from old life to brand new approach to make things brighter and bigger.
-
In crypto, as a financial regulator, it is entirely within each other. And this is considered very simple and independent. So a lot of people come into crypto because of this. But also has a big enough risk.
-
Traditional banks have some limitations for transactions. And limits are given for various transactions. It is a kind of difficulty that can be caught. Cryptocurrency transactions can be done much more. It probably has no fixed amount. So different companies have been using the method for transactions. However, in order to purchase goods in different countries, there are as many commercial or high-level commercial institutions around the world, they mainly trade in cryptocurrencies. Cryptocurrency is used as one of the commercial approaches. It is very popular as it is a part of digital transactions.
-
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
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.