[whatisweb3]

What is your preferred way to transfer funds that can be received instantly in Canada, US, South America, UK and Europe?

Transferability is a basic primitive of crypto but not the only feature. Others like decentralized escrow and multi-signatory wallets achieve new functionality that is non trivial in traditional banking system.

[CaptainZapp]

> Others like decentralized escrow and multi-signatory wallets

Uhh, multi-signatory bank accounts are about as old as banking.

[whatisweb3]

Old and clunky. Try setting up a multisig on the weekend with a few friends around the world, who all use different banks. It usually involves a lot of time, paperwork, lock-in to a single bank, monthly fees, sharing private data, and strict limitations on use.

In comparison you and several friends can set up a m-of-n account in a couple of transactions, closer to the flow and ease of setting up a new WhatsApp group.

[beepbeepcabbage]

I pay friends in the us regularly via Wise and PayPal and it arrives within seconds every time - all while crypto is folding, doing layoffs, running away with people's money etc.. it's not even a competition. I will take wise + Ideal any day over any crypto or US bank I have ever used.

[whatisweb3]

Crypto is doing layoffs? It is a decentralized network; nobody is being “laid off” of Bitcoin or Ethereum.

The value fluctuates but this is where users would typically send USDC or DAI which is pegged to the dollar.

My crypto transfers also arrive in seconds and there is no US company extracting rent, blocking my funds, asking for third party data, or dictating how a payment protocol should operate.