BTC: Fee Lower Than ETH and Perfect for P2P Payments

IconCryptoNewsTerminal Staff10 Jul, 2024

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BTC: Fee Lower Than ETH and Perfect for P2P Payments

Contrary to popular belief, Bitcoin (BTC) has lower transaction fees than Ethereum (ETH) and can be used for peer-to-peer (P2P) payments. According to CryptoQuant CEO Ki-young Ju, BTC's median transaction fee has been consistently below ETH's since 2021. Currently, the median fee for BTC is $0.4, while ETH's is $0.68. This means that BTC is suitable for small transactions, with the appropriate transaction size being between $13 and $40. This aligns with Satoshi Nakamoto's original vision for BTC as a "peer-to-peer electronic cash system." Despite its reputation for high fees, BTC remains a viable option for P2P payments due to its lower fees and widespread acceptance.

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