- This topic has 6 replies, 1 voice, and was last updated 1 week, 1 day ago by marsangelo.
- Friday, September 23rd, 2022 at 00:43 #380204TarkovReddit0rParticipant
I’m living in Germany. Pretty crypto friendly country, decent bank system and located in EU.
I have to do multiple transfers to American banks for business reasons. I’ve never performed it in such way so I had a meeting with my bank and it blew my mind.
**Each transaction is 35€ fee to American banks**
I was really confused. It’s not that much for a single big transaction but it really stacks with multiple one. And it’s also pretty much making all smaller transactions unaffordable. Imagine trying to transfer 100€ and pay 35% in fee. Immediately I thought in my head:
“Damn… it takes a couple clicks, some pocket change and a few minutes to transfer that via crypto across the planet …”
And when I asked why it’s that much I received the response “just the paperwork and time”
**And don’t get me started on the 2 page paper she gave me to fill lmao**
It was so much information to fill everywhere. Felt like I’m filling out my entire identity + fiat location for the transaction. All on paper with pencil. Meanwhile with crypto you can take a shit copy pasting an address on your phone within seconds lmao
Well guess what again fixes both… it’s not like they ship the money in a case and deliver it personally anyway, right? It’s just numbers in their system at the end of the day.
So I’ve realized today that the fundamentals of Crypto are still there, important and can improve things for us. And this was just one normal small case that made me realize this.Friday, September 23rd, 2022 at 00:43 #380205Necessary-Bathroom14
Crypto make international bank transfers look like scamsFriday, September 23rd, 2022 at 00:43 #380206BrianS911
Shit and people think that by getting into crypto is too late,We’ve barely begun in my opinion.Every few months updated tech comes out.Tradfi is definitely outdated,the difference is in overall infrastructure in my opinion and, how to implement the whole scheme of things for your regular average everyday person to use.Friday, September 23rd, 2022 at 00:43 #380207pristine_air
XLM has enter the chat.Friday, September 23rd, 2022 at 00:43 #380208Setyman
That’s why coins with instant settlements and miniscule fees like XRP or XLM exist. Those outrageous fees and wait times you mention must become a thing of the past.Friday, September 23rd, 2022 at 00:43 #380209futurevandross1
Cant beat crypto, In 3 minutes i can send 1 million dollars to you with non existent fees. Only problem is that everyone will need to know to convert the coin into fiat & transfer into bank.Friday, September 23rd, 2022 at 00:43 #380210marsangelo
Paperwork and time = fees. Just call it fees. Its going to their profits. Its so disingenuous when they give answers like that and really shows how stupid they think we are
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