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Usha Yadav
Aug 25, 2022
by Usha Yadav

Ethereum Co-Founder Says Cryptocurrency Payments Are A "Big Boost"

Cryptocurrency Payments

Table of contents

  1. Buterin's Prediction For Cryptocurrency Payments
A lot of people started using cryptocurrency payments, especially during the bull market run in 2021. Through direct and indirect integrations, crypto payments are accepted by millions of businesses worldwide. Even large firms have gotten on board. Vitalik Buterin, the co-founder of Ethereum, claims that compared to fiat currency, the advantages of cryptocurrencies for making payments are sometimes "underrated." He cites the ease of making international payments and donating to charities as two critical examples.

Buterin's Prediction For Cryptocurrency Payments

Vitalik Buterin recently discussed his predictions for the future of cryptocurrencies and how quickly he expects them to develop in an interview at Korea Blockchain Week 2022. Focusing only on Ethereum, Buterin said that the Ethereum Merge was the real reason why crypto payments would become commonplace.

According to Vitalik, cryptocurrencies are helpful for both international money transfers and charitable gifts. International payments have historically been slow to complete and expensive when made with fiat money. One excellent illustration of its value in this regard is the conflict in Ukraine. On August 18, vice prime minister Mykhailo Fedorov tweeted that the activist and nonprofit organization Aid For Ukraine alone had raised $54 million.

Not everyone has been as supportive of using cryptocurrencies as a form of payment. Common concerns include price volatility, usability, regulatory risk, high transaction fees, and extended processing times for some cryptocurrencies, such as Bitcoin and Ethereum.

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Ethereum Vitalik Buterin Cryptocurrency payments
Ethereum Co-Founder Says Cryptocurrency Payments Are A "Big Boost"
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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