Why does everyone here want the typical credit card to die?
Many reasons:
A. A 4%+ upcharge to almost every single transaction you make, whether you use a credit card or not. This is because merchants have to pay credit card fees, and they pass those fees onto you because most merchants don't want to deal with two sets of prices for their products.
B. Predatory lending practices and usurious interest rates.
C. They're not actually that good at dispute resolution. This either leaves a bad taste in the card holders mouth, as some have told stories about below. But more often it leaves a bad taste in merchants' mouths since credit cards most often side with customers when in doubt.
D. Credit cards are insanely insecure. Giving your credit card to a bartender or shop keeper is literally handing them access to the entire credit limit on your card. They can easily copy your credit card number and use it fraudulently elsewhere. The only thing that keeps you safe is that most people aren't swindlers. But some are.
E. Because of the inherent insecurity of credit cards, credit card companies have a trigger finger for freezing your credit card when anything looks amiss. I've been stuck without money in a foreign country because of this and had to wait on hold for an hour on the street before I could do anything.
Bitcoin and lightning have none of these problems. A payment method shouldn't be wrapped up into a lending service and escrow service all at the same time. Separation of concerns please. Not every transaction requires and escrow, not every transaction requires borrowing money from a giant predatory corporation.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments