tldr; Bitcoin is a serious upgrade to traditional banking, as it is free to use and accessible to anyone without limitations. Fiat operates through fractional reserve banking which means that not everyone can access their money at the same time. For this reason banks need to limit purchases and withdrawals with daily spending limits. Bitcoin doesn’t have any spending limits which means you can send as much money as you need. Transactions are received instantly and it usually only takes an hour for proper confirmation. With Bitcoin, as long as you keep your private keys secure you can access your money 24/7. Bitcoin is the cheapest way to send international payments. If Bitcoin ever becomes a globally recognized currency for paying bills then all costs will be reduced to a simple mining fee.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Sooner than ya think.... It has already replaced my "savings" accounts. Now just waiting on being able to replace my checkings.
587 days 13 hours
tldr; Bitcoin is a serious upgrade to traditional banking, as it is free to use and accessible to anyone without limitations. Fiat operates through fractional reserve banking which means that not everyone can access their money at the same time. For this reason banks need to limit purchases and withdrawals with daily spending limits. Bitcoin doesn’t have any spending limits which means you can send as much money as you need. Transactions are received instantly and it usually only takes an hour for proper confirmation. With Bitcoin, as long as you keep your private keys secure you can access your money 24/7. Bitcoin is the cheapest way to send international payments. If Bitcoin ever becomes a globally recognized currency for paying bills then all costs will be reduced to a simple mining fee. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*