Coinbase, one of the largest crypto exchanges in the world, recently published a report revealing that in 2022 alone, Americans could have saved $74 billion (in fees) if they paid in crypto instead of credit cards.
The STATE OF CRYPTO 2024 report highlights how cryptocurrencies offer several advantages over credit cards, such as lower fees, faster transactions and greater control of your funds.
The report estimates that the average savings per household would be $600 in 2022, however it also highlights some challenges hindering widespread adoption of cryptocurrencies including volatility, complexity for some users and regulation still in development causing uncertainty.
Despite everything, Coinbase believes that cryptocurrencies have the potential to revolutionize the global financial system, making it better for everyone.
It highlights how merchants also spent more than $126 billion in fees to process transactions.
But the discontent does not stop at the waste of money, it extends to the waiting times for transactions and the difficulty of accessing traditional financial applications, for example.
The report is extremely interesting, like every State of Crypto published by Coinbase and I invite you to read it so as not to miss important information.
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