Article: How Bitcoin will benefit the less foturnate

Crypto, Money

How Bitcoin will benefit the less foturnate

Traditional financial institutions and even credit companies are rapidly adopting blockchain technology. Its main advantage is that it significantly cuts the transaction fees. Bitcoin transactions are dependent on blockchain technology instead of third parties that banks and other lenders typically use. In almost every transaction, they assign an intermediary to oversee the exchange process.

Using third parties in fiat currency exchange takes a lot of time and comes with added premium risks resulting from the high transaction fees. Bitcoin solves that by eliminating all the intermediaries. That ensures faster transactions at a relatively lower cost, allowing everyone to shop at retail stores using bitcoin easily. The cheaper transfer fees will also enable them to own property without a more significant financial burden.

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