Blockchain 101 Episode 50 – Feature of Cryptocurrencies – Borderless

Cryptocurrencies have several unique features, one of them being borderless. Cryptocurrencies thrive on the internet. It can be sent to wherever internet is available. It can be the world wide web or local area network, cryptocurrencies are not limited by borders.

Even if you live in space, if you have access to internet, I can transfer cryptocurrencies to you. Compared to traditional methods, transaction fees for sending cryptocurrencies anywhere in the world are very low.

For instance, earlier on, sending Bitcoins cost only 0.0001BTC. It is more expensive now. Transaction fees for other cryptocurrencies such as Bitcoin cash is 0.0001BCC, For Dash it is 0.002 Dash, And for Ethereum it is 0.01 ETH, After conversion, it costs only a few dollar. Compared to traditional bank transfers, cryptocurrency transfers can be very fast too, It usually takes several minutes to one hour to complete a transfer.