What are the advantages of using cryptocurrencies instead of the w-8ben substitute form?

3 answers

• Haagensen RiberSep 18, 2021 · 4 years ago
  Using cryptocurrencies instead of the w-8ben form offers several advantages. Firstly, cryptocurrencies provide a decentralized and secure way to transfer funds globally without the need for intermediaries. This eliminates the need for traditional banking systems and reduces transaction costs. Additionally, cryptocurrencies offer faster transaction times compared to traditional methods, enabling quick settlement of cross-border transactions. Furthermore, cryptocurrencies provide privacy and anonymity, as transactions are recorded on a public ledger but do not reveal personal information. Lastly, using cryptocurrencies allows for greater control over your funds, as you are the sole owner of your digital assets.
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• Jorge QueirozOct 22, 2021 · 4 years ago
  Cryptocurrencies have several advantages over the w-8ben substitute form. Firstly, cryptocurrencies offer lower transaction fees compared to traditional banking systems. This can result in significant cost savings, especially for international transactions. Secondly, cryptocurrencies provide faster transaction times, allowing for quick and efficient cross-border transfers. Additionally, cryptocurrencies offer greater security and privacy, as transactions are encrypted and recorded on a decentralized blockchain. This reduces the risk of fraud and identity theft. Lastly, using cryptocurrencies gives individuals more control over their funds, as they are not dependent on a centralized financial institution.
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• Tomonori ShimomuraFeb 23, 2025 · 6 months ago
  At BYDFi, we believe that using cryptocurrencies instead of the w-8ben substitute form offers numerous advantages. Cryptocurrencies provide a borderless and censorship-resistant financial system that is not controlled by any government or financial institution. This allows for greater financial freedom and inclusion, especially for individuals in countries with limited access to traditional banking services. Additionally, cryptocurrencies offer lower transaction fees and faster settlement times compared to traditional methods. Furthermore, the decentralized nature of cryptocurrencies ensures that funds are not subject to government regulations or restrictions. Overall, using cryptocurrencies as a substitute for the w-8ben form can provide individuals with greater financial autonomy and flexibility.
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