, even reward users with crypto cashback for paying through the card and facilitate spending of several major cryptocurrencies, fiat currencies, as well as the withdrawal of cash from ATMs.
As pointed out by Vitalik, cryptocurrencies are also particularly useful when transferring money internationally and for charitable donations. Traditionally when done using fiat currency, international payments can take a long time to process and results in large fees. The war in Ukraine is one great example of its usefulness in this regard, with Vice Prime Minister Mykhailo Fedorov havingon Aug. 18 that $54 million has been raised by nonprofit and activist group Aid For Ukraine alone.
However, not everyone has been as bullish about crypto’s use as means of payment, with common objections including price volatility, ease of use, and regulatory risk, as well as high-transaction fees and long processing times for certain cryptocurrencies, such as Bitcoin and Ethereum. While it can vary, the Bitcoin blockchain handles approximately five transactions per second , and averages fees of $0.819 as of Aug 24, while Ethereum is currently
around 29.3 TPS with average fees of $1.57. Visa on the other hand claims to be able to handle 24,000 transactions per second and charges between 1.4 and 2.5% per transaction.
The gas fees? Well, it might solve but aint friendly for users. Thats why here following radix and I guess it could bring revolution on DeFi cryptoproject
Obviously nothing is better than Dogecoin, bar none. Who else can send $1M from Los Angeles to London in one minute, fully settled, fully self audited without the need for a 3rd party.
Businesses must believe in cryptocurrency
people don't trust what they can't touch
Crypto payments cannot be superior if they are not private
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Source: Cointelegraph - 🏆 562. / 51 Read more »