3 ms·
All non-cash transactions have associated fees--they're just obfuscated because consumers don't pay them directly. Visa takes 1.15% of every transaction, for ex
by marcusverus 4y ago
All non-cash transactions have associated fees--they're just obfuscated because consumers don't pay them directly. Visa takes 1.15% of every transaction, for example. There's no such thing as a free lunch.
Crypto fees are too high, though. The average ETH transaction is, I think, ~$6. That means it's uneconomical in the vast majority of cases.
Of course, everyone who uses it knows this, which makes for an odd scam, don't you think?
- chx 4y agoBut you can have cash transactions, the rest is convenience. You can not have that with crypto.
- diego_sandoval 4y agoThe fees in most Bitcoin Cash (BCH), Monero and Litecoin transactions are fractions of a cent.