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.
Paying in cash doesn't cost extra, by card does
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Yeah, I'm going to buy my games with bitcoin now.
Oh shit, the fee is higher than the price of the game, can I use Litecoin ?
wrote last edited by [email protected]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.
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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?
wrote last edited by [email protected]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.
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Yep. Just because one side is bad, it doesn't mean the other is any good.
Cryptocurrency is still dependent of a pyramid scheme and criminals-enabling. Credit card companies are still a private owned government branch with no concern for human rights and criminals-enabling.
wrote last edited by [email protected]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.
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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.
The transaction fee is not paid by the consumer (directly), and lord knows sellers are not going to lower prices based on payment method.
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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.
Say that any louder and it’ll be DOGEd overnight.
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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.
