Innovation in fiat on-ramps can overcome expensive crypto card fees
Being in crypto is all about taking a smart view of money. We know that (BTC) is the future, both as a store of value and as a means of payment, as Layer 2 solutions such as the Lightning Network start to flourish. It is therefore essential for every cryptocurrency user to ensure that they always get the most competitive price for each service. While millions of crypto users convert fiat to crypto using a debit or credit card, it is by no means a low-cost choice.
According At The Motley Fool, people who use credit cards to pay for crypto purchases may be subject to at least 7% additional fees. For example, if you were to buy $1,000 in Bitcoin using a credit card, you could pay up to $70 in fees if your card issuer treated the transaction as a cash advance, plus standard processing fees and charges.
Paolo Ardoino joined Bitfinex in early 2015 and is now its Chief Technology Officer. After graduating from the University of Computer Science in Genoa in 2008, he started working as a researcher for a military project focusing on high availability, self-recovering networks and cryptography. Interested in finance, Paolo started developing finance related applications in 2010 and founded Fincluster at the end of 2013. Backed by two rounds of funding, Fincluster provided an advanced, modern and accessible web platform serving different clients with customization capabilities.