@weboftrust
on-chain vs Wise is a trend that needs to stop. This assertion is false and makes you appear childish and uninformed. You are deliberately promoting an inaccurate narrative, which demonstrates poor judgment and is one reason why the outside world, even those with a basic understanding of finance, does not regard crypto as a serious business.
Bob deposits fiat currency into a CEX, converts it to BRL, then withdraws it to Alice's wallet or exchange account. Alice then transfers the funds to her bank account.
Beyond the fees incurred at each of these three stages, the funds are exposed to multiple risks. dependency on two separate CEX platforms, potential liqiudity issue and slippage, regulatory uncertainty, and poor wallet user experience.
In contrast, Wise transfers funds directly to your bank account, processes instantly in many countries, operates under regulatory oversight, provides dedicated customer support, and offers stronger protection against fraudulent activities.
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