Despite all the technological advances made with websites and mobile apps in the last twenty years, the cost of accepting a payment online can still be up to 2.9% and $0.30. For items less than $10, this is a significant fee. Cryptocurrencies including Bitcoin and Litecoin can decrease these transaction costs. Recently sent 0.05 litecoin from a PC wallet to a Coinbase wallet. This was about $4.50. The fees noted BlockCypher was about $0.02. Financial transaction fees are the last friction point in commerce reduced by technology.
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Walmart has $489 billion in revenue per year. They are already using a QR scanner to pay for items from within the Walmart app using a system called Walmart Pay. A few options exist for Litecoin. Either the cashier can accept payments using the Coinbase app or the Walmart Pay app accepts money as Litecoin. If cryptocurrencies can offer smaller transaction costs than credit cards, they are viable. Donate with Bitcoin: 1Juq1ULc41vcy1ksJ1HcHrsMKnT1bywsy2 || Donate with Litecoin at Lb5yfdMvvRDJZLDqkmLhLBTJPXa2QKCBMC ...Read more
Despite all the technological advances made with websites and mobile apps in the last twenty years, the cost of accepting a payment online can still be up to 2.9% and $0.30. For items less than $10, this is a significant fee. Cryptocurrencies including Bitcoin and Litecoin can decrease these transaction costs. Recently sent 0.05 litecoin from a PC wallet to a Coinbase wallet. This was about $4.50. The fees noted BlockCypher was about $0.02. Financial transaction fees are the last friction point in commerce reduced by technology.
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