So I have been doing personal transfers with cryptocurrency recently for large sums over 20K USD and more each time the fees are around 10 USD. The worse fee that I have had to pay was 100USD but that was during the NFT craze and it still was less then what paypal charges
I've just recently for the first time in ages used Paypal for invoicing and was charged about 5%.
This is insane. I was charged over 90 USD to invoice 3000 USD? Isn't their process automated or are they still doing accounting by hand. I could pay an accountant to do the invoice for less.
Why are their fees so high (aside from demand/supply) surely this gives room for a startup to come in and take the a fixed transactional basis rate?
Does anyone have any alternatives to Paypal that doesn't charge on a percentage basis?
TLDR: Been spoilt using crypto for transactions and the fees are significantly less then Paypal.
I've just recently for the first time in ages used Paypal for invoicing and was charged about 5%.
This is insane. I was charged over 90 USD to invoice 3000 USD? Isn't their process automated or are they still doing accounting by hand. I could pay an accountant to do the invoice for less.
Why are their fees so high (aside from demand/supply) surely this gives room for a startup to come in and take the a fixed transactional basis rate?
Does anyone have any alternatives to Paypal that doesn't charge on a percentage basis?
TLDR: Been spoilt using crypto for transactions and the fees are significantly less then Paypal.
How is paypal still charging this rate?