High rate of crypto illiteracy still makes me sad.
I made a transaction through my bank, Fortunately the money was'nt received by the suppose receiver and i was debited.
I went to the bank for transfer error issue, spending more than 5hours trying to get access into the bank(due to crowd) and 3hrs trying to fix the transfer error.
My point here is that, if i had sent the money in form of crypto(Bitcoin), my transaction would have run smoothly, the only way i would have had an issue was if i had transferred to the wrong address.
Note: Crypto illiterate as mentioned above is not an insult, they are individuals with low crypto knowledge.
What's your opinion?
Mate, in as much as Bitcoin provide the best alternatives to fiat in transactions, it is most important to note that sometimes Bitcoin transactions can also get delayed on unconfirmed for several days and sometimes you will need the help of a Bitcoin transaction accelerator to get the transaction pushed through to confirmation and this may take days weeks depending on the fees and network congestion rate.
But in all ramifications, bitcoin proper is a better option in terms of transactions vs the bank and such waBitcoinoin offers the best financial solution can also be noted below.
1: Bitcoin offers universal trans-border financial inclusion compared to the bank.
2: avoidance of third-party involvement and access transaction fees.
3: no double spending with Bitcoin etc.