A financial advisor by profession and a crypto analyst explains the regular fact that gives cryptos and bitcoin another upper edge, stating that transferring money through regular banking costs a lot more than transfers through the cryptos and most crucially, through bitcoin. As per Pat’s recent experience, the Bank of America charged him for he conducted more than 6 transfers, a total 10 dollars; these transfer were made between savings and checking this very month. Pat draws the contrast of the banking system to the crypto markets that when we compare the two the late is much cheaper than the prior one, on outrageous levels. He does hi math over the situation and calculated the gross percentage of the extent by which the banking system is more expensive than the much simpler crypto transactions. The number to be precise turns out to be 3,233% and that is quite a large number to be associated with prices. BlockPublisher got the chance to discuss it with the very man in order to extract some remarks over the discourse.
As I operated more than 6 transfer throughout the month between savings and checking, it costed me about $10 which is simply hilarious when compared to the transfer prices for the cryptos especially bitcoin. When we perform transfers over bitcoin, it costs us about 30 cents which make the comparative percentage of about 3,322% between the two.
The crypto fanbase and crypto analysts continuously bash the current banking system specially Wall Street corporate officials who manipulate the wealth to work in their favour eliminating out the control of the people over their own money. This is where cryptos jump in and the blockchain technology strips the corporate power away from them granting it to the regular user and the public.
The founder and partner of Morgan Creek Digital, Anthony Pompliano also bears a similar school of thoughts as he declares that the current financial system has many loop holes and must be replaced by the crypto system altogether. This being a great up for the bitcoin must be counted in whenever discussing the crypto vs. banking scenario as a comparison this obvious is surely a home run.