I’m hoping to see this happen in my lifetime. I’m confident we’ll get there eventually, but given how frequently governments attack cryptocurrency, I’m not sure how soon. Nonetheless, utilizing crypto to pay for ordinary items would be amusing.
To be honest, I don’t think this scenario is too far-fetched, given that wallets like Binance and CoinBase, as well as newcomers like CoinOvy, have already announced crypto credit cards and other ideas to replace Apple Pay and Venmo.
While it isn’t a 100 percent crypto payment, it does provide exposure to the cryptocurrency and familiarize people with it.
One of the biggest issues here is the magnitude of fees. You pay $40 worth of ETH and you have to pay $20 transaction fee.
Can’t deny that this stage would be hard to get to. There’s too much haters and prosecutor in the way right now. But if the right steps are taken, I’m also certain that the scenario isn’t one that’s impossible for us.
Well you right the war on crypto from the government only shows why and how important decentralized platform like Derived finance is need in this space.