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RE: The Great (test) bank/crypto Race
That was one interesting experiment to do brother. And, and helpful one to basically all of us. There is always a dilemma to go for a more convenient way or the most profitable way.
I guess it depends on the situation you are in. If you need money transferred in a hurry and can't wait to go with banking way, and if you can wait for better price exchanges do the crypto way.
Either way, thank you for giving us this info. I am sure it will be helpful to many people.
Have a great day, my friend. :)
Thanks, I started the larger experiment today. And I have to say, the advantages still lie with the banking system. The fiat-crypto exchanges are proving to be the biggest bottleneck... And quite annoying!
It hasn't been a problem in the past as I wasn't time constrained, but this time it is frustrating...
Well, let's look at it this way?
Compared to the banking systems which has been in place for a long long time and have been ripping people off for a long long time the crypto is still in BETA. It is a very young new system which still has it disadvantages. But, it literally has the potential to change the world. It already actually is for many countries. :)
We all just need to be little more patient so these little frustrating things work themselves out in the future. :)
Oh I definitely agree, the banking system is much more mature. So it does hold a lot of the cards at the moment.
Plus it has the added advantage that fiat is the widely accepted currency. If my builder could take crypto, then it would be much easier and faster as I wouldn't need any fiat on and off ramps!
I think (hope) that crypto is the future, but it has a way to go. Beta is a great way to describe it, it is certainly much improved from when I first started.
I was just hanging my head about an unexpected 1 week bottleneck at one of the fiat exchanges. And 1week is an eternity in crypto. Oh well, if I'm lucky, I might profit from it...