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When you say cheaper and faster, what are you comparing to? If I want to convert and send USD from the US to EUR in Germany the crypto solution will be expensiv

When you say cheaper and faster, what are you comparing to? If I want to convert and send USD from the US to EUR in Germany the crypto solution will be expensive (trading fees on both legs) and pretty slow (time it takes for the exchange to send EUR to your German bank account).

rpmw 4y ago
Yeah this strikes me as odd too. My bank will instantly deposit transfers while the (free) ACH process takes time to clear. I can transfer up to something like $99,999 a day which is fine for my needs. At worst case a $15 fee to wire funds which I could probably get waived if I asked customer support nicely. There is also plenty of recourse in the unlikely event something goes wrong.
- m348e912 4y ago
  With crypto you don't have to ask nicely, you just send. Being your own bank has it's advantages (and risks).
  - rpmw 4y ago
    Sure, but I'd say for just about every person the risks far outweigh the rewards. And IMO adding intermediaries to account for that risk seems an unnecessary abstraction given the current system.
  - librish 4y ago
    You have to ask the exchange to give you your fiat.