/biz/ - Business & Finance

You had 11 years

What is the actual use of crypto?

I've been reading a bit about Bitcoin. Ostensibly it might save you money for international money transfers, which can sometimes have high transfer fees with banks, while Bitcoin fees are typically much lower. Okay, fine.

But a lot of people never transfer money to international bank accounts. Most people, if they do send money to another account, are typically paying their friends, or relatives, or maybe they're paying their rent, etc. - the point is these will be domestic transfers, which typically have zero fees (at least in my country, the UK).

So what is the actual use case and benefit of using something like Bitcoin? I will concede it looks like it is cheaper for paying money internationally. But for the average Joe, who probably never sends money internationally, what's the point?