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Crypto Informator - Education, Reviews, and Advising

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Crypto Informator
Crypto Informator - Education, Reviews, and Advising

Credit cards are friendly for users. Bitcoin not so much
In spite of many advantages of Bitcoin signals, Bitmex signals, telegram crypto and other cryptocurrencies, it also has plenty of downsides that other, commonly accepted forms of payments do not have. Credit cards are very easy in use. Some people claim that they are so simple that it is actually harmful to customers. Bitcoin requires some effort to properly store it, secure against threats, and send transactions. Making sure that the payment goes to the correct address is probably the most significant defect of Bitcoin. What’s more, if the user makes a mistake, there is no customer service department that could fix it.

Transaction fees
Let’s assume; however, that people still spend money at the same pace and they accept less friendly method of payment than it is in case of credit cards. Let’s take a look at transaction fees and see whether paying with the use of Bitcoin is more beneficial than paying with a credit card. Depending on the services, the credit card transaction fees are subjected to a commission between 2.5% to 3%. Charges in the world of Bitcoin are dependent on the current market.
Current fees for BTC transaction are much lower than the value of $1 for each transaction. If we do not care about the time, the cost can be lowered to even few cents. However, that wasn’t always the case. In December 2017, when the price of Bitcoin amounted at $20 000 and the network was heavily loaded, you had to pay even $30 for each transaction. Unfortunately, no one can guarantee that the fees for the people, who use Bitcoin, will be lower than fees for the use of credit cards.

 

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