Ethereum ETH/USD creator Vitalik Buterin believes that cryptocurrency payments are underrated.
What Happened: In a tweet on Wednesday, Buterin said crypto payments could provide a significant boost to international business and charity.
People continue to underrate how often cryptocurrency payments are superior not even because of censorship resistance but just because they’re so much more convenient.
Big boost to international business and charity, and sometimes even payments within countries.
— vitalik.eth (@VitalikButerin) August 24, 2022
According to him, payments that are made with crypto have the added advantage of being convenient in addition to being censorship resistant.
Dogecoin DOGE/USD creator Billy Markus chimed into the Twitter discussion on Buterin’s status, sharing his views on what makes crypto payments “super inconvenient.”
the thing that makes cryptocurrency payments super inconvenient is taxes
— Shibetoshi Nakamoto (@BillyM2k) August 24, 2022
Markus believes that unfavorable taxes on crypto payments continues to be a hindrance in their wider adoption. Last week, the DOGE creator posited that most businesses hold off accepting Bitcoin BTC/USD and DOGE for payments because of taxes.
Over the last two years, several companies have included cryptocurrencies as a payment option for retail consumers. Popular examples include Tesla Inc’s TSLA acceptance of DOGE for merchandise and AMC Entertainment Holdings Inc’s AMC acceptance of several cryptocurrencies for movie ticket purchases.
Price Action: At press time, ETH was trading at $1,704, up 4.75% over 24 hours, as per data from Benzinga Pro.