Then they will ask why nobody wants to use their payment cards
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I'm in Germany and people believe this. I say, if I have my credit card stolen, I can stop the card with my bank app and be refunded for the purchases the thief made.
If they have their 500€ of cash stolen, that's it. It's gone. No amount of crying about how cash is king will bring it back.
So then don't carry 500 in cash then. You only need enough cash in your wallet to cover the expenses you might encounter in a single day. And having cash on you doesn't mean you can't have cards too in case you need more money
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A dollar in fees is a dollar more than with fiat for the person paying.
Average credit card transaction fee is ~2%. So a dollar of Bitcoin fees makes Bitcoin cheaper for any purchase over $50.
But it's not variable so the seller prices it in. Switch to Bitcoin and you have to pay it while prices likely stay the same. Also lately most of my games have been under 30 EUR tbh
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Paying in cash doesn't cost extra, by card does
I've almost never seen irl stores charge more for paying by card, definitely not anything that wasn't a small family business. The only place I see it is sometimes on webshops
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The current Bitcoin transaction fee is $0.67. Which means for a purchase larger than $34, Bitcoin is cheaper than the average credit card transaction fee.
I don’t have a credit card. If you pay per transaction, is there at least no monthly base fee?
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I don’t have a credit card. If you pay per transaction, is there at least no monthly base fee?
wrote last edited by [email protected]A credit card, in the US, has a transaction fee for the vendor, 1-3% of the purchase price, sometimes with a flat few cents fee on top.
The consumer has no transaction fee, but does pay interest (around 28% annually) if they don't pay off the full balance every month (if they do pay it in full at the end of the month, there is no interest charge). Usually there will be a 1-2% cash back for the consumer as well.
Some credit cards also have an annual fee for the consumer. These generally have higher cash back rewards and higher vendor transaction fees than those that don't.
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I don’t have a credit card. If you pay per transaction, is there at least no monthly base fee?
wrote last edited by [email protected]There are are no other fees for holding crypto, you only pay when you move it from one place to another, those fees change depending on time of day/week as well. Though some services (like coincards) may take additional processing fees.
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Cash is King.
And Monero is digital cash
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A dollar in fees is a dollar more than with fiat for the person paying.
Average credit card transaction fee is ~2%. So a dollar of Bitcoin fees makes Bitcoin cheaper for any purchase over $50.
People who use credit cards don't pay the transaction fee. If the product is priced at 10 Stanly nickle they only play 10 Stanley nickle. Lot of credit cards also offer cash back so people might get 1-5% back depending on what the category for the month is.
When it comes to transaction fees you are going to have to sell the vender on it than the consumer since they are the one paying.
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I've almost never seen irl stores charge more for paying by card, definitely not anything that wasn't a small family business. The only place I see it is sometimes on webshops
It costs for the business, but handling cash costs time so money as well..
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Crypto has its issues, but when used as an actual payment system, it’s a great alternative for online payments, and can give more privacy and anonymity if used correctly
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A dollar in fees is a dollar more than with fiat for the person paying. That and do you expect enough normal people to learn about L2s and chains to make it worthwhile for Valve or whoever to implement support for anything besides the main chains of 2-3 major cryptos and stablecoins on ethereum main?
yes I expect l2s to catch on in different ways and yes I hope that a lot of places like steam or whatever properly implement at least bitpay or something similar in house.
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Honestly, what's the point of a credit card? Why don't people mostly use debit cards? It gets just directly wire transferred from your account. No sort of junk fees or monthly subscription needed. Genuine Question.
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The current Bitcoin transaction fee is $0.67. Which means for a purchase larger than $34, Bitcoin is cheaper than the average credit card transaction fee.
wrote last edited by [email protected]I only buy games at $30 or cheaper. So that won't work for me
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I learned recently FedNow is a payment processor ran by the Federal Reserve, with a fee of $0.043 per transaction. Making it much, much cheaper than every other payment processor out there.
It just launched two years ago; I'm wondering if this might become more of a thing moving forward for digital payments.
Nice but floundered. Call me when consumers and small businesses can use it.
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Honestly, what's the point of a credit card? Why don't people mostly use debit cards? It gets just directly wire transferred from your account. No sort of junk fees or monthly subscription needed. Genuine Question.
If someone steals your debit card, they can directly take money out of your account. With credit cards, there's a buffer between the product and the bank account, and it makes it easier to stop fraud
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Paying in cash doesn't cost extra, by card does
wrote last edited by [email protected]No it doesn't. Shops pay transaction fees and pass that cost into all customers equally whether they're paying cash or card.
Taking physical cash, counting it, loss of cash through error or malace, buying change, physically banking it (taking it themselves or using a cash collection company) costs businesses too. So actually maybe they're passing on the cost of this rather than the transaction fees.
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If someone steals your debit card, they can directly take money out of your account. With credit cards, there's a buffer between the product and the bank account, and it makes it easier to stop fraud
But is it really worth all of the junk that you have to accept? I like the credit scoring, the monthly subscription, and, if you miss the date for paying back, the absurdly high fees. Well, yes, with the debit card you have, technically speaking, the risk of someone being able to make about 100€ worth of RFID payments, and then the code is needed again for the next 100€ RFID payments. For everything else that doesn't involve RFID, the code is needed always.
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Honestly, what's the point of a credit card? Why don't people mostly use debit cards? It gets just directly wire transferred from your account. No sort of junk fees or monthly subscription needed. Genuine Question.
wrote last edited by [email protected]Tons of cards have zero fees. Some offer rewards and benefits at no real cost. I have for nearly a decade used a card with 1% back on purchases and 1% back on payments. Running all my usual spending through that and then just paying it off has net me a lot of money in that time that I just use for statement credit.
It's easy to dispute charges should I ever need to. Rare since I'm cautious anyways, but the extra layer before my actual bank account is nice.
It has also built up a hell of a credit rating for me as well.
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Honestly, what's the point of a credit card? Why don't people mostly use debit cards? It gets just directly wire transferred from your account. No sort of junk fees or monthly subscription needed. Genuine Question.
Because people are reliant on debt because wages haven't kept pace with expected standards of living.
Of for more ago well off people some cards offer perks like cash back or air miles and it's free if you pay it off in full each month.
Also, in my country at least, you get more protection if you have an issue with the goods you've bought. https://www.moneysavingexpert.com/reclaim/section75-protect-your-purchases/
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This. Corporate shit weasels or supporting human trafficking.
"We should restrict the free use of oxygen because terrorists can breath it to sustain themselves."
C'mon. Crypto has issues, but this ain't one of them. Pandering to people's fear is how fascist seize power for themselves and perpetuate the horrors we feared in the first place.
