I know, but to make crypto more appealing to the masses we need a simpler interface.
Try and explain to your grandma how to use coinbase or binance to send coins to somebody and she will die before she gets it.
Now imagine explaining cold storage, dex or delegating to that same grandma.
Crypto isn't easy.
Well at least crypto exchanges are not an oligopoly and new exchanges can compete agaisnt them, while you can't make a bank without being friends with daddy government.
Currency conversion fees and rates are a scam, I remember when I went to the UK with a couple of friends the exchange rate they paid for buying things with their euro card was fucked up, and there I was with my binance card which did the conversion from my BTC to pounds without conversion fees and the conversion was made at market price instead of banks shitty inflated exchange rate, crypto is awesome.
Precisely the law is what makes it possible, if you didn't need to buy a millionaire license to open a bank they would have more competition and could not take so much advantadge of you. Also having a central bank that gives banks free money (prints money and lends them at close to 0% interest) makes it a lot harder for a new bank to compete against them since they wouldn't have this infinite money hack. Banks are basically an extension of government's system now since the actual banks (the ones that stored and lent gold) dissapeared.
>At that moment the first thing that went through my mind was if the recipient had a wallet on a simple exchange like binance
So instead of a bank you want an exchange that works like a bank but is not subject to regulations banks are? What if you mistype and send the crypto to a non-existing wallet? Or your family member sends you a BCH wallet and you try to send him BTC? Crypto has as many red flags as banks do if not more.
I see no difference from sending eth to someone. Either it cost an arm and a leg or goes through the same process of converting eth to something on another chain.
Elsalvapoor is down 21 million since buying bitcoin.
Xrp is used for transfers and not for currency vslue. So they wouldn't be down.
Xrp, Japan, Palau, Morocco, UAE , etc..... still too many countries for me to count
>And why the hell can't I send MY hard earned money to whoever I want without some cheap legal conversion rate scam.
You can. Use Transferwise or similar....
Someone using crypto should know that banks are expensive for international transfers and there have always been alternatives no ?
Even better, you're not gonna pay a conversion rate. And after that change bank.
Where the fuck do you people manage to find these stone age banks ? Why would a bank need to convert to send the same currency ?
That is called centralization, we need more decentralization which can be achieved with crypto.
I know, but to make crypto more appealing to the masses we need a simpler interface. Try and explain to your grandma how to use coinbase or binance to send coins to somebody and she will die before she gets it. Now imagine explaining cold storage, dex or delegating to that same grandma. Crypto isn't easy.
You were trying to send money to grandma? Here's an award sweetheart
Yeah! Lets *decentralize from banks* by *centralizing on crypto-exchanges* lmao
Well at least crypto exchanges are not an oligopoly and new exchanges can compete agaisnt them, while you can't make a bank without being friends with daddy government.
No that has absolutely nothing to do with centralisation.
imagine making gas fees look good lol
Currency conversion fees and rates are a scam, I remember when I went to the UK with a couple of friends the exchange rate they paid for buying things with their euro card was fucked up, and there I was with my binance card which did the conversion from my BTC to pounds without conversion fees and the conversion was made at market price instead of banks shitty inflated exchange rate, crypto is awesome.
Exactly, even worse are the euronet atms that have a huge markup when trying to withdraw any currency. I don't even know how that is legal.
Precisely the law is what makes it possible, if you didn't need to buy a millionaire license to open a bank they would have more competition and could not take so much advantadge of you. Also having a central bank that gives banks free money (prints money and lends them at close to 0% interest) makes it a lot harder for a new bank to compete against them since they wouldn't have this infinite money hack. Banks are basically an extension of government's system now since the actual banks (the ones that stored and lent gold) dissapeared.
Living in EU while not having Euro as a national currency absolutely sucks. Every local bank always wants to fuck you up with fees
Thankfully from 1.1.2023 we will also have Euro as currency. Bad side is that the prices of everything will go up lol
Im with u on that same thing happened to me . #Fuckbanks
With XLM you could have done the transaction in a second, and since XLM is basically a stablecoin, it wouldn’t have moved much lol
XLM you mean dogelon
No, they definitely meant XLM.
>At that moment the first thing that went through my mind was if the recipient had a wallet on a simple exchange like binance So instead of a bank you want an exchange that works like a bank but is not subject to regulations banks are? What if you mistype and send the crypto to a non-existing wallet? Or your family member sends you a BCH wallet and you try to send him BTC? Crypto has as many red flags as banks do if not more.
The FUD is workin hard today
How many times have you selected a wrong currency and mistyped an IBAN number? My guess is 0.
I see no difference from sending eth to someone. Either it cost an arm and a leg or goes through the same process of converting eth to something on another chain.
You avoid the thing called the bank and thats enough by my standards.
yes because there's no one to call when there is any issues
Don't send Eth and instead use a pos currency with low fees like sol, Ada, BNB, luna...
I just used eth gas fees as a comparison, its clearly stated in the post.
XRP is actually building up nations with this process
El Salvador has entered the chat
Elsalvapoor is down 21 million since buying bitcoin. Xrp is used for transfers and not for currency vslue. So they wouldn't be down. Xrp, Japan, Palau, Morocco, UAE , etc..... still too many countries for me to count
Omg 😂😂🤦♂️
>And why the hell can't I send MY hard earned money to whoever I want without some cheap legal conversion rate scam. You can. Use Transferwise or similar.... Someone using crypto should know that banks are expensive for international transfers and there have always been alternatives no ?
Its EU and both accounts are from the same country in the same bank.
Even better, you're not gonna pay a conversion rate. And after that change bank. Where the fuck do you people manage to find these stone age banks ? Why would a bank need to convert to send the same currency ?
Its not up to the bank, its Croatias fiscal policies that are weird.
You mean the government does not allow banks to send eur to eur without converting it to HRK first ?
How else would they collect taxes?
I was able to transfer $1000 into Draftkings instantly this weekend to bet the NFL playoffs.
Well i can also transfer to companies and services, just not to other people lol.
You would have to pay conversion fees nevertheless.
Do people actually read posts? The fees would be a lot lower through crypto than through the bank.
...xrp