Why crypto is far superior to traditional payment methods. Pretty much everyone reading these will already know that crypto is better and its only a matter of time before it takes over. This week i have confirmed it to myself and realized just how out dated the traditional banking systems really is even compared to the slowest of all crypto currencies Bitcoin.

My story starts on Tuesday when i found a car i wanted to buy did the paper work and said ill be back tomorrow with the cash, first problem the banks close at 4 so i couldn’t go . Crypto is 24/7 sore 1 for crypto. The next day i wait until 10am when the banks open (i wake up early all the time so it was a long wait). Get to the bank wait 30 minutes in line finally get to the bank teller

ME: i need to withdraw X amount

Bank: sorry you cant withdraw that much

Me: why not

Bank: this branch only allows you to withdraw $5000

Me: if i cant take money out at the bank what is the point having a bank

Bank: sorry you need to give 2 days notice to withdraw that much

Me: this is why everyone hates banks

Bank : sorry

Now i couldn’t get a bank cheque because the guy wouldn’t answer his phone so i had no details. So i went home didn’t want to wait 2 days to get cash from a bank so i decided to email the guy and he gave me his details by this time the bank would be closed before i could get back. So i decided to do it online as it should only take 24 hours to send. After calling the bank and waiting on hold for 30 mins i had finally sent the money. Well thats what i thought anyway for some reason 2 days later the bank rejects my money transfer even tho i had the money in the bank and called to get it approved. So call them back asked what happened they tell me it was an error so they reproved and resent its now Friday afternoon and banks dont like to do anything even online transfers over the weekend so now hopefully by Monday the money will be sent. Problem is ill be on the other side of the country for nearly 2 week from Monday. My brother will have to go out his way to get the car i should already have 4 days ago.

If this was on EOS i could of sent it on my phone instantly and even on Bitcoin is would of taken 10 mins and cost 1 dollar. Sure for every day items normal money is fine its fast and easy but with all the wallet advancement it wont be long before crypto is just as easy and atm EOS is easier and faster for anything online. If you made it this far in my rant congrats hope you enjoyed it 🙂

Image source https://www.ccn.com/bitcoin-vs-banking-infographic/

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  1. sandwichbill

    Absolutley rediculous. I bought a car, but they wouldn’t take cash at the dealers, becasue they said it could be money laundering, a card payment was stopped by the bank because it was an “unusual transaction” All very frustrating.

  2. mix1009

    I had similar experiences. I have to go to the bank quarterly for getting a piece of paper for tax report purposes. Last time I went, I waited 40 minutes and it took addition 30 minutes to get a piece of paper 🙁 They need to up the game, or they will go extinct.

    1. Cryptoslice Post author

      paper work soo annoying with all these computers you would think we would be doing less. it should of been fine to just have it emailed to you. i think blockchain will help that if the email and document are on the blockchain.

  3. Adil Elias

    It’s incredible how they’ve been so confident in the fact they had no competition and they never tried to be more efficient.

    On occasions, the banks have even seized people’s money like in Argentina or Cyprus. If everyone knew that there were some serious alternatives, these things would’ve been deathblows to the banks in question.

    Thanks for sharing your experience and congrats on the new car!

  4. Ilia

    Very mentally! Banks are tired of all of us its undemocratic system and burdensome conditions! I, too, am of the opinion that in the near future crypto will put a lot of pressure on Fiat money. And banks and corporations need to think… tired! Thanks for the post @Cryptoslice