E Not If, But When: This Is Why Cryptocurrency Will Replace Traditional Payment Methods

Bitcoin transaction

Courtesy: TheNextWeb.com

As a point of reference, we can contrast this with a more traditional payment platform like TransferWise, which would reportedly have charged $1,684,800 to send $468 million from the U.S. to the Eurozone; much of the fee inflation would have been due to the costs involved with converting between currencies (more of a fiat-money issue than something you'd encounter with cryptocurrency).

This, I believe, is emblematic of why Visa, Mastercard, and PayPal are jumping on board the crypto train: they see the writing on the wall, and they'd rather join the movement than get lost in the shuffle. Can you really blame them?

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Disclosure: David Moadel is not a licensed or registered investment advisor, and has no position in any securities listed herein.

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Michele Grant 1 year ago Member's comment

I've always thought of cryptocurrency as something only criminals would really need or benefit from. But you make an excellent point regarding transaction fees.

David Moadel 1 year ago Author's comment

Thank you for the comment Michele