Vitalik: People Still 'Underestimating' Superiority of Crypto Payments

Ethereum co-founder suggests cryptocurrency payments are a "big boost" for international trade, charity and even payments within countries. New

Ethereum co-founder Vitalik Buterin suggests that cryptocurrency's superiority for payments is often "understated" over fiat, citing the convenience of international payments and payments to charities as key examples.

Buterin made the comments in a Twitter thread on Wednesday, explaining that it's not just censorship resistance, but also convenience that makes cryptocurrencies "superior" when it comes to international trade, charity, and even payments within countries.

People keep underestimating how often cryptocurrency payments are superior, not even because of censorship resistance, but simply because they are so much more convenient.

Big boost to international business and charities, and sometimes even payments within countries.

Adoption of cryptocurrency in payments has grown globally. A report by data platform PYMNTS titled "Paying With Cryptocurrency" released in July found that among surveyed companies with annual revenue over $1 billion, 85% said they are adopting crypto payments to find and win new customers.

The availability of crypto debit cards has also grown rapidly, with Binance recently partnering with Mastercard to announce a prepaid card for Argentinians. Many of these cards, like those from Wirex, even reward users with crypto cashback for card payment and make it easy to spend several major cryptocurrencies and fiat currencies, as well as withdraw cash from ATMs.

As Vitalik pointed out, cryptocurrencies are also particularly useful when trans...