Cryptocurrency enthusiasts have always taken it to the public on how crypto or digital asset’s transactions are faster and easier for the users to be compared with fiat transactions. Notably, peer-to-peer payments in crypto can easily be done and completed within a few seconds. Besides, users won’t have to deal with third-party intermediaries that would likely lead to users having less autonomy.
Recently, the CEO of Coinbase, Brian Armstrong has tweeted about his user experience with the famous fiat payment apps, Paypal and SquareCash where sending money to a recipient was not possible as Paypal notified him that recipient is unable to receive money and SquareCash had notified that the bank has declined the payment. His transaction was denied twice.
Due to the experience, Armstrong believes that cryptocurrency payment, however still flawed at the moment, with its challenges, can be made better by building on the new underlying infrastructure. In addition, the CEO believes that with better regulatory guidelines, there will be plenty of space for innovators to introduce groundbreaking new alternatives relating to crypto payments.
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Nurul is an English Language graduate who is highly passionate on writing, she literally breathes on it. An avid reader and a critical thinker, she covers on blockchain news during day and weeps at sad novels at night.