A Reddit user from Switzerland under the nickname Julices_Grant created a subreddit, where he complained of having to pay high transaction fees using PayPal and suggested using cryptocurrencies instead.
Let’s take a look at some figures. If we take Switzerland as an example, here regular PayPal users pay from 2.9 to 5% in commissions, as per usual. When it comes to merchants, here the fees can go up to 8-10%, which can significantly affect the earnings.
“This is absolutely unacceptable and this why we NEED cryptos,” said the merchant.
Julices_Grant does have some point. Cryptocurrency and its elimination of transaction fees might soon replace major electronic payment systems.
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