Use a trusted exchange if you are worried about that. Holding crypto in a wallet is the equivalent of keeping cash in your wallet.
No bank in the world will care if someone steals your wallet.
No bank in the world will care if someone steals your wallet.
This doesn't protect against your credentials being compromised, and it's not useful advice unless you can explain your criteria for declaring an exchange trustworthy and how that would have excluded all of the exchanges which have lost their customers' money.
> No bank in the world will care if someone steals your wallet.
Yes, this is why most people use regulated banks which have the fraud handling and reversal processes which cryptocurrencies lack. It's not just that you don't have to carry it with you, it's that there are things like verification and reversal processes which mean that individual people are both less likely to lose money in the first place and more likely to get it back. If you've ever bought a house, the process of verifying a large amount of money being transferred is very different from writing a small check whereas all you need is a typo to lose cryptocurrencies without recourse.
The huge popularity of crypto is really eroding the tx capacity advantage.
And even in the backwards US, ACH can now settle later same day and it's free. That makes BTC a lot less attractive.
Transferring funds uses an extremely small amount of gas. You clearly have never used the chain so stop making things up.
Here I sent 11K USD to another wallet for a fee of $10. It was confirmed within 5 minutes. There is no other service outside of crypto that is that fast and that cheap. https://etherscan.io/tx/0x3edc74a15742f65d166dfc9ddb567afabf...
But wouldn't confirmations take, as you said, five minutes on a good day? I see people saying 5-20 minutes typical for Ethereum to reach 30 confirmations. And sure you can accept fewer but 30 seems a pretty widely accepted convention. That's still slower than wire transfers which are functionally instantaneous (in practice of course it takes a minute or so). And right when I looked now the base TX fee is $19.10, which is a few dollars lower than I thought, but I see that it fluctuates by a few dollars pretty quickly so it would depend on the moment. I don't know the Ethereum situation with regards to EIP-1559 in very much depth so if I misunderstand how fees currently work please correct me.
This seems to put Ethereum basically right on par with what my credit union charges for wire transfers. Now $20 is on the lower end for wire transfers on a consumer account (I think $25 is common), but you can also get lower on commercial accounts. It just seems like they're fairly on par with each other from a fee perspective, and Ethereum is at least a few minutes slower.
Right now international cryptocurrency transfers are a legally gray area, and have the aforementioned lack of protections. So the expensive and slow, but legal and safe, international transfers are a service that cryptocurrencies don't offer at all. No reason to think it'll be faster and cheaper when it's offered.
Ok i'm exaggerating of course, it just seems like some people are not willing to admit that cryptocurrency does not address certain things that people want out of a money/payments system.
If you didn't notice the total crypto market cap is 2 trillion dollars. People are happy with the way crypto works, most don't want it to be like a bank, but for those that do there is ways to make it so.