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RE: Need a Better Way To Buy BTC With a Credit Card! My Failed Buy the Other Night...
It’s basic economics and smart business I think. They charge ridiculously high fees because people will pay it out of FOMO. The average person that just heard of bitcoin last week wants in no matter the amount. They also probably haven’t found the cheapest or most efficient way of obtaining btc.
You make a valid point about if someone were to lower the fees they could grab a significant piece of the pie but there again is that fine line of how much can I charge and how much will they pay.
Yes, it's always about the maximum price that will be paid, isn't it? And FOMO is one of the drivers, as is the convenience factor. But with the fees getting very high for that convenience, I find I'll look elsewhere...feel like that fine line's been crossed for me. Still, even paying a high fee for some cryptos could be worth it in the long run, anyway, so it depends on how one wants to buy it, and how much extra you're willing to pay. I think maybe some of the providers are driven to high fees due to the volatility/risk, but it seems excessive - perhaps they'd get more business overall with more reasonable rates.