I am Done with Paypal and Bank Fees: Cryptocurrency for Borderless Transactions

A couple of days ago, I transferred a bit of amount from my Paypal to my bank account. A friend loaned me some money so I could finally buy a motorbike that will greatly help me in my business. It is just hard to move around and transact with my service providers without my own mode of transportation. Anyway, I've been transferring money from Paypal to a bank for years, but sometimes, they can just easily fuck things up. I really want to use other payment or money transfer method but the majority of people in this world still find Paypal more convenient. And sometimes, I just can't demand any other way from my clients. It's like Paypal has the monopoly on money transactions.

Guess what? The money transfer didn't go through. Paypal said that I got the wrong bank information which is ridiculous because my details have always been there. I remember a few weeks ago, when I needed some money right there and then, I just got some Steem transferred to a local exchange then voila, I received the money within an hour. It was so convenient! Now with this Paypal, I have to wait for days, and if it doesn't go through for some reason, I have to wait for days again. The worse thing of all is that Paypal charged me a hefty reversal fee. At this moment, every cent matters to me, and now this supposedly easy transaction is giving me nothing but stress.

This was one of the issues I faced when I was still traveling. My bankcards were stolen and none of these banks would even send me a replacement card overseas. I couldn't get the money out of my Paypal account so I was cashless on the road. It is hard if you don't have any freedom over your own money.

I reentered my bank details on Paypal and if this thing will not go through again, I will most likely get charged another painful fee. The bank and Paypal will never care even if I lose all the money from charges - that's just how they are. There's a part me of me that wants the same kind of personalized service that I provide in my tours. Like, have an available human being that cares about your hard-earned money. Anyway, I have to resolve this Paypal issue now because when the time comes that I am getting more payment transfers, I won't have the mental space by then to even worry about these things.

And this is why I am promoting Bitcoin on my website as an alternative payment method. However, not everyone is seeing the advantages of cryptocurrency yet. Most people are skeptics, and the rest still thinks cryptocurrency is a scam or a tool for fraud and other illegal activities. Like isn't it the same with fiat too? I feel like anything that a human being can control is bound to corrupt anyway.

However, this is the time I really appreciate cryptocurrency. It cannot be counterfeited or reversed by the sender as with credit card charge-backs. Cryptocurrency eliminates all the third-party hassle when it comes to purchasing something big - delays, notary, payment fees and all. Besides, I'd be more than willing to pay for the network fees than for Paypal and intermediary bank fees. There's always this let's-hope-for-the-transaction-to-go-through and I am so tired of this feeling. I don't really want to deal with the customer service of some big financial institutions. I am just one of the many they can rip off big time, so why will they even care?

I emailed and called my bank because the PayPal reversal fee is just too much for me especially in these trying times. I told them that if the transaction will not go through again, I will just close my bank account - indefinitely. Now that I have my own business, I can open other bank accounts anywhere.

I am also not comfortable giving all my information to Paypal anymore with all the identity theft and hack issues happening around. Giving your credit card information to merchants means that you are also allowing them to have complete control over your lives, like what you purchase, where do you go or what will you do with your money? Big Brother is watching over you. What I like about cryptocurrency is that it uses a "push" mechanism that allows the holders to send exactly what they want to the recipient or merchant with no further information. I think this is the thing about Paypal, if you accidentally change anything or any of your information, it will mess you up big time. I would rather not touch anything to avoid issues. But then you know the reality, there are just no guarantees of not getting fucked up by big corporations. They will find more ways to make massive profits off the regular people.

As you know, my business lets me receive money from other countries. And Paypal fee is something that I will have to deal with. I think cryptocurrency will benefit online businesses greatly. We no longer have to deal with third-party merchants' inhumane customer service and hefty fees. Cryptocurrency is not bound by the exchange rates, interest rates and other transaction charges of any country. It can be used at an international level without experiencing problems. This will help me save time as well as money on the part of my business which is otherwise spent in transferring money from one country to another.

As you all know, I've been working hard to build my business, earn money and find my way back to freedom. If someday Paypal or the bank decides for some reason that my account has been misused, stolen or whatnot, it has the power to freeze all of my assets without even consulting me. I'm sure it's somewhere in the fine print.

But anyway, cryptocurrency still have a long way to go before it can make our lives easier and give the power back to the people. And fundamentally change our global economic system. There's just a lot of big people up there hindering us from getting out of this financial dirt level. Can we just ALL move on to cryptocurrency soon enough?