this post was submitted on 08 Dec 2024
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181
The Rise of Digital Currencies: What It Means for Traditional Banking (wealthari.com)
submitted 1 week ago by [email protected] to c/[email protected]
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[โ€“] [email protected] 12 points 1 week ago* (last edited 1 week ago) (1 children)

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.

[โ€“] [email protected] 4 points 1 week ago

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.