No intermediaries. Unlike fiat, virtual currency transactions are conducted directly between two parties, on a peer-to-peer basis, using a decentralized computer network that involves no banks or other intermediaries. Trust in the system is based on digital proof, or the ability of users to access a permanent record of all of the transactions that have taken place.
Beyond the clampdown by some governments, what bitcoin really needed to achieve sustained success was overall mainstream acceptance. While some financial institutions announced projects exploring blockchain-based solutions, many others balked.

Despite those benefits, Binance.US is much less transparent than many competitor exchanges when it comes to security, storage options, and customer assistance. For most long-term, retirement-minded investors, we’d recommend sticking with exchanges such as Coinbase or Gemini, which are much more transparent about these key operations.
“Some people just didn’t like it, and I understand that,” Karony said in the interview. “The points that I wanted to come across, we just weren’t able to actually tell people in a structured manner.”