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 transfer 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 ? .
This is obviously better that the chance of payment not taking place is negligible in Cryptos but I have seen cases where a few transactions take hell lot of time in getting completed because of network scalability or just the fees being high. In case of Cryptos the fees is pretty hefty same can't be said with bank payments atleast payments within the country. So you can say that one is paying a lot of premium in bitcoin fees to get this full proof facility.