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RE: Bitcoin As Payment Method For Daily Small Transactions

in LeoFinance3 years ago (edited)

For me, I feel the value and rank of Bitcoin is way above day-to-day menial transactions. The worth, "value" and legacy of Bitcoin is way more than that.

Bitcoin, as the King of Crypto currency, don't need to stress itself to perform such transactions too.

There are many other currencies to do such errands for the crypto world, which will help strengthen the value and usecase of those coins in question.

I think what we should be more concerned with is the legalisation of crypto as legal tender, and the reduction of taxes.

  • If crypto is made legal in countries, more people will adopt it for transactions in store, supermarket, malls and other local places.

  • If the taxes are reduced to the barest minimum, buyers and sellers will have no problem transacting using crypto. But when the Government places a 30% tax on crypto, just like the Indian Government, we shouldn't expect crypto to be used on daily transactions because the charge/tax will be greater than the cost of the product and the gain as well.