An embeddable and customizable fiat-to-crypto onramp

Re:An embeddable and customizable fiat-to-crypto onramp by halpmeh on Thursday December 01, 2022 @03:04PM (#33821940)

In the long-term, I can see a very real benefit to this. Credit card transaction fees are insanely expensive as they're typically charged at a percentage of the purchase. For instance, if I pay my rent online with a credit card, I am changed a $100 fee. If there was an easy way I could pay my rent with Eth, the transaction fee would be a lot lower. So I can see this working in the following way:

1) Stripe builds out the current functionality as a beta for accepting crypto payments.

2) Stripe lowers fees and expands the merchant base.

3) Stripe begins offering stable-coins on credit. Stripe is now Visa, but with way lower fees.

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Re:An embeddable and customizable fiat-to-crypto onramp by pmalynin on Thursday December 01, 2022 @03:09PM (#33821989)

Depends on the gas fees though....that fee could easily be $150.

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Re:An embeddable and customizable fiat-to-crypto onramp by halpmeh on Thursday December 01, 2022 @03:11PM (#33822024)

Transaction fees are currently $0.50. I doubt we’ll see such high gas fees after switching to proof-of-stake.

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Re:An embeddable and customizable fiat-to-crypto onramp by LegionMammal978 on Thursday December 01, 2022 @06:56PM (#33824847)

Which blockchain are you talking about? Ethereum switched to proof-of-stake almost 3 months ago now, and gas fees were pretty much unaffected from what I can tell.

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Re:An embeddable and customizable fiat-to-crypto onramp by halpmeh on Thursday December 01, 2022 @09:26PM (#33825953)

I was judging the tx cost from this: https://ycharts.com/indicators/ethereum_average_transaction_...

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Re:An embeddable and customizable fiat-to-crypto onramp by simpsond on Thursday December 01, 2022 @10:11PM (#33826285)

PoS hasn’t had much impact. The leveling out there is more like related to fewer transactions. Proto dank sharding, which may ship in 2023, should have a bigger impact on gas fees.

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Re:An embeddable and customizable fiat-to-crypto onramp by LegionMammal978 on Friday December 02, 2022 @07:59AM (#33829892)

If you wanted to see the effects of the PoS switch (3 months ago), you'd have to choose a shorter timescale, like 6 months. It's been going down slightly, but not drastically, and only in proportion to the decrease in daily transaction count (as simpsond mentioned).

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Re:An embeddable and customizable fiat-to-crypto onramp by wmf on Thursday December 01, 2022 @07:29PM (#33825148)

Pay your rent with ACH. Crypto is not needed.

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Re:An embeddable and customizable fiat-to-crypto onramp by Nursie on Thursday December 01, 2022 @08:02PM (#33825405)

As usual, the warped US market plays a huge role here.

Outside of the USA, credit card fees are low and capped. Outside of the USA, bank transfers are free and more or less instant.

All of these apparent drivers of cryptocurrency adoption are regulatory and marketplace failures inside America.

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Re:An embeddable and customizable fiat-to-crypto onramp by halpmeh on Thursday December 01, 2022 @09:25PM (#33825946)

Here is Stripe’s pricing in Germany: https://stripe.com/en-de/pricing/local-payment-methods

SEPA is fixed rate. Everything else is a percentage. Also, you don’t get any purchase protection from bank transfers, but of course the protection is paid for via fees.

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