Why We Need To Support Crypto More Then Ever

in #crypto5 years ago

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Now that prices are starting to climb and all that trash talking did nothing to really hurt cryptocurrency the banks and processors are trying to fight back again.

They are fighting back in such a way now that seems to be the final nail in the coffin for payment processors.

For instance Paypal.

Paypal for the last 2 years has been terminating small business accounts and holding their funds for 6 months before releasing them. They really went on a rampage at the beginning of this year.

If that was not bad enough they are now imposing new fees.

The new structure now means Paypal is keeping ALL sellers fees when processing a refund.

But not only that when you transfer money from one country to another an even larger percentage will be taken out instead of what use to be a flat fee transfer.

While this in the short term will mean more income for Paypal which of course pleases share holders it also means they are driving away business in the long run.

These moves are the exact moves which make your company come crumbling down to the ground in a few years and replaced by a better system.

That system...

Bitcoin and cryptocurrency.

Yes bitcoin has fees but they are a FRACTION of what you will pay any bank or credit card company. They also processes within a few hours or maybe a day or two if really loaded. But still that beats out any banks.

For example I transferred money out of one of my investment accounts 3-4 days to clear. Then transferred it into a new investment account... another 3-4 days some times 5-7 depending on amounts and how much. Oh and you guessed it BUSINESS DAYS ONLY! so you could be looking at upwards of a week and a half to finally move around just a few thousand bucks.

Clearly this shows why we need cryptocurrency and need to support it more then ever.

Reduced time for money, MUCH lower fees and the freedom to do with it what you want instead of a bank only holding 10% of your funds.

What will you be doing in the next few days to support cryptocurrency ?


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I will use Paypal as a buyer when I don't have a choice, but I learned my lessson the hard way and will NEVER use Paypal as a seller ever again.

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I am looking into having some new fiat go into some positions both new and existing to start to scale into having a larger part of my assets in crypto. I also want to start considering a payment option for crypto like the debits cards out there but I have not really researched them much.

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