Can we still say that bitcoin transactions are faster?
I have send some of my bitcoins to an address and about one hour has been passed but still there is not even a single confirmation.
what do you say about the transaction timing?
I have send some of my bitcoins to an address and about one hour has been passed but still there is not even a single confirmation.
what do you say about the transaction timing?
Faster compared to what?
money transfers within the same bank => probably not
money transfers between two banks in the same country => don't know
international money transfers => yes
You forgot to mention cash transactions. Zero fee. Instant.
Cash cannot compete with Bitcoin as a digital payment method for eCommerce. Try paying someone with cash in another country, and see how long you will wait for the postal service to send that money
through the postal service.
....Remittance serves were supposed to solve that problem, and they still struggling to get it right... If and when they do, you pay a premium fee for that privilege to transfer that value. Bitcoin does this with limited fees, and at a relative speed, depending on the size of that fee.