Exchange SWOT

Comparison between domestic/international wire transfer using bank and cryptocurrencies

Domestic transfer

Speed: Bank > cryptocurrency
(Real-time domestic transfer is available for banks, but several minutes or hours are taken for cryptocurrencies)

Fees: Bank < cryptocurrency
(various charges apply to cryptocurrencies, such as transaction fee through an exchange, exchange fee into real currencies, etc.)

Convenience: Bank > cryptocurrency
(the latter requires an exchanging step into Fiat and sales through an exchange)

International transfer

Speed: Bank < KRONN
(Banks need 3~5 business days for international transfer, but KRONN offers real-time transfer)

Fees: Bank > KRONN
(Banks charge excessive transfer fees and double exchange fees through the key currency, but KRONN offers transfer at 80%~85% lower cost than banks)

Convenience: Bank < KRONN
(KRONN offers real-time international transfer through simple clicks on Exchange APP without having to go to the bank)

“Only optimized cryptocurrencies for international transfer could get ahead of banks.”

  • Cryptocurrencies cannot excel banks in domestic transfers. In order to lead future finances ahead of banks, they must be optimized for international transfers.
  • Cryptocurrencies that do not offer authentic exchange cannot be called a currency.
  • In order for cryptocurrencies to lead future finances, they should be directly exchanged into Fiat without trading, instead of trading through sales.