Why Bitcoin Transactions are cheap?

richardson
Posts: 108
Joined: Fri Apr 07, 2017 5:54 am

Why Bitcoin Transactions are cheap?

Fri Apr 07, 2017 6:01 am

Hello, folks! I'm new to the Bitcoin world and was wondering why Bitcoin transactions cost lower than the transactions of fiat currency?
Last edited by richardson on Wed Apr 12, 2017 11:36 am, edited 1 time in total.
rooney
Posts: 118
Joined: Thu Apr 06, 2017 8:49 am

Re: Why Bitcoin Transactions are cheap?

Fri Apr 07, 2017 7:02 am

Bitcoin being decentralized plays a huge part in Bitcoin transactions being cheaper than the fiat currency ones. Since the cryptocurrency doesn't need to go through a clearing house (Master card, Visa card) or monitored by the government or private regulatory authorities, the rates are set individually by each exchange company. The reason as to why these companies charge lower fees is just to attract more clients to expand their business.
zach
Posts: 253
Joined: Wed Apr 19, 2017 7:18 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:18 am

Because Satoshi wants to minimize the burden of fiat money transaction’s cost.
lahm
Posts: 243
Joined: Wed Apr 19, 2017 7:28 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:19 am

It performs all operation digitally, that’s why its cost is low
kevin
Posts: 147
Joined: Thu Apr 06, 2017 8:09 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:20 am

I don’t know, but its good
Kennedy
Posts: 149
Joined: Fri Apr 07, 2017 12:55 pm

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:20 am

No idea
karim
Posts: 234
Joined: Wed Apr 19, 2017 7:31 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:21 am

Transactions are done digitally, I don’t think so it needs any charges, yes companies charge more.
katie
Posts: 121
Joined: Tue Aug 22, 2017 12:49 pm

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:21 am

Bitcoin is not in control of any government or any other authority, that’s why its price is not too much high.
itsbriskbaby
Posts: 131
Joined: Wed May 03, 2017 7:34 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:22 am

You should be relaxed because of its price. it’s good that it has a low price.
katharine
Posts: 133
Joined: Tue Aug 22, 2017 12:47 pm

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:22 am

Thank God! It has low transaction cost.
hipcolumn
Posts: 221
Joined: Wed Apr 26, 2017 8:49 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:23 am

Just enjoy the low-cost facility and don’t think about its reason
hellGrinder
Posts: 213
Joined: Wed May 03, 2017 7:45 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:24 am

Did you tell me how much Bitcoin do you have?
howard
Posts: 150
Joined: Fri Apr 07, 2017 6:03 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:25 am

You have a benefit, why you are digging for the reason.
fox
Posts: 143
Joined: Sat Apr 08, 2017 8:50 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:25 am

May be its electronic process need no fee, but it’s holder charge for services
hendo
Posts: 173
Joined: Thu Apr 06, 2017 10:48 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:26 am

Bitcoin enjoys the monopoly in price. Decentralization making it more reliable among the users. that’s why its transaction cost is very low.
Hart
Posts: 138
Joined: Sat Apr 08, 2017 8:33 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:26 am

No idea
bain
Posts: 117
Joined: Tue Apr 25, 2017 5:24 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:27 am

I didn’t think about it
bravure
Posts: 190
Joined: Wed Apr 26, 2017 8:39 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:28 am

It’s confusing, I also didn’t get the right answer.
bennett
Posts: 113
Joined: Fri Apr 07, 2017 6:29 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:29 am

Why are you not enjoying the fuckin low transactional cost benefit? I don’t think so, you have a valid point about it
bitcores
Posts: 96
Joined: Wed Apr 26, 2017 8:29 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:29 am

Its whole system performs digitally, which consume the cost of transportation, agent’s fee, taxes and most important timing.
btccherry
Posts: 193
Joined: Wed Apr 26, 2017 8:30 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:30 am

Jesus knows well!
vik
Posts: 263
Joined: Wed Apr 19, 2017 7:20 am

Re: Why Bitcoin Transactions are cheap?

Sat Sep 09, 2017 11:30 am

I don’t know why but I know I have coins, spend them in daily routine.

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