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«a lost password or a hacked computer could permanently eat away your money» If it happens less than 0.5% of the time, then you are losing more money in fees w
by mrb 7y ago
«a lost password or a hacked computer could permanently eat away your money»
If it happens less than 0.5% of the time, then you are losing more money in fees with your forex broker.
Also don't forget the massive cashflow advantage of dealing in crypto only. Minutes to send crypto vs 24-48h + weekends/holiday delays incurred by your broker wires. That's especially true of businesses who transact with their partners/suppliers/contractors in crypto so they even avoid the fiat<>crypto conversion step.
«any legal recourse»
There is always legal recourse. Plenty of crypto thieves have been, are being, and will be prosecuted.
- short_sells_poo 7y agoFast transfers are not something that cryptocurrencies uniquely enable, so I think it is unfair to highlight that as a feature. Transfers could (and often are) instant without cryptocurrencies too. Inside Europe most transfers clear within minutes. The main reason why some transfers are slow is due to KYC rules which cryptos do not implement. With the same procedures in place, they'd be just as slow.