this post was submitted on 08 Dec 2024
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That depends entirely on the currency.
Ethereum l2 has way lower (less than a tenth) transaction fees than credit cards and barely has an impact at all on the environment because there is no mining.
And cryptocurrencies do have consumer protection services but no one ever uses them.
More importantly, however, Visa and mastercard collude and boycott japanese anime and manga websites because they think anime and manga promote gender stereotypes, so credit cards can fuck right off.
Credit card fees can actually get quite large as well, they're just hidden from the consumer, and we all pay a higher price because of it.
E.g stripe is 2.9% + $0.30
Even BTC with its current high (not peak high fees) fees is cheaper than CC's when you start getting into a few hundred dollars purchase.
And many cryptocurrencies have much lower fees. For example, Monero fees tend to be <$0.01, though they can be as high as $1, which is way lower than Bitcoin. Here's a source for Monero transaction fees. And that absolutely tracks for Monero since it's entire purpose is to replicate cash transactions as much as possible.