when it comes to banking institutions, transferring large amounts of money comes with a hefty transaction fee.
TransferWise a UK based multi-billion dollar firm that allows its users
to send small to large payments with substantially lower fees. Even on
such platforms to transfer $1 million it costs around $7,500 for transaction
fee.
However, a bitcoin user on October 16 moved 29,999 BTC worth $194 million with
a surprisingly low fee of just $0.1. Blockchain has the ability to large payments at a cost
similar to that of a small transaction.
Does this mean crypto has the ability to crack offshore banking market?
https://www.ccn.com/194-million-was-moved-using-bitcoin-with-0-1-fee-true-potential-of-crypto/ That's the main advantages of bitcoin transaction, very low fees.
But people are still afraid because it's not safe enough, those bitcoins can be hacked by the hackers and we don't know what to do