I’ve heard the argument that low transaction fees are one of the advantages of cryptocurrency payments – but in my experience this isn’t remotely true comparing gas fees vs. a traditional payment method. For that matter, they’re not particularly quick or simple transactions either. It seems strange that this is consistently touted as one of the major reasons why cryptocurrency will become widely adopted in the future.
What am I missing?
In: 5
The people who want to tout the benefits of cryptocurrency almost exclusively have vested financial interests in cryptocurrency
You’re correct, crypto tends to be significantly slower and less efficient than traditional financial institutions. The people telling you otherwise are trying to build up hype around crypto, so that you’ll buy into it and give them money
It’s always good to be very skeptical of someone trying to convince you to do something that’ll directly benefit them, even if they say it’ll make you rich
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