How to Send $1,000,000 For a $3 Fee (The Power of Bitcoin)

Is it really possible to send $1000000 for a $3 fee? With the power of Bitcoin, it is. In this interview, blockchain expert Justin Renken explains how cryptocurrencies can drastically lower transaction fees for businesses, especially for international payments like remittances. Because the network has no borders and the fees are not percentage-based, it's possible to send huge sums of money for a fraction of the cost of the traditional banking system. This conversation is a perfect introduction to blockchain for entrepreneurs. Justin breaks down what blockchain is in simple terms , the pros and cons for your business , the difference between Bitcoin and Ethereum , and other fascinating use cases like crypto debit cards and NFTs. Check out the company: https://ark.io

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🕒 CHAPTERS

00:00 - How to Send $1,000,000 For a $3 Fee

02:26 - What is Blockchain? (Explained Like You're Five)

06:56 - Pro #1: The Power of Low Transaction Fees

08:41 - Pro #2: Reaching Millions of Unbanked Customers

17:39 - Con #1: "Your Coins Are Lost Forever" - The Biggest Risk

21:15 - Con #2: The Terrible User Experience

30:24 - Bitcoin vs. Ethereum: What's the Difference?

36:39 - Other Uses: Crypto Debit Cards, Lending & NFTs

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