What are the advantages of using cryptocurrencies instead of Apple Pay to make payments?

3 answers

• Mar 06, 2022 · 3 years ago
  One of the main advantages of using cryptocurrencies like Bitcoin or Ethereum for payments is the decentralized nature of these digital currencies. Unlike Apple Pay, which relies on a centralized system controlled by Apple, cryptocurrencies operate on a decentralized network of computers called blockchain. This means that transactions made with cryptocurrencies are not controlled by any single entity, making them more secure and resistant to censorship or government interference.
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• Mar 06, 2022 · 3 years ago
  Another advantage of using cryptocurrencies is the potential for lower transaction fees compared to Apple Pay. While Apple Pay charges a small fee for each transaction, cryptocurrencies often have lower fees or even no fees at all. This can be especially beneficial for international payments, where traditional banking systems may charge high fees and take longer to process transactions.
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• Mar 06, 2022 · 3 years ago
  At BYDFi, we believe that using cryptocurrencies for payments offers even more advantages. With cryptocurrencies, users have full control over their funds and can make transactions without the need for a third-party intermediary. This eliminates the risk of account freezes or funds being held by a centralized authority. Additionally, cryptocurrencies provide greater privacy and anonymity compared to Apple Pay, as transactions are recorded on the blockchain but do not reveal personal information.
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