Coinbase, the largest cryptocurrency exchange in the U.S., believes American households could have saved approximately $74 billion in credit card transaction fees in 2022 if they used blockchain technology.
In Coinbase’s latest State of Crypto Report, the exchange outlined the frustrations of the current financial system, ranging from high costs to delays and difficult access, insisting that blockchain technology eliminates all the issues.
Saving $74B in Transaction Fees
Coinbase surveyed more than 3,500 U.S. adults for the report, and around 71% of the respondents said the major improvement they want in the current financial system is cheaper transactions. Another 70% wanted faster transitions, while 63% requested better access.
The survey revealed that frustration over fees is the primary cause of discontent with the current system. Unbanked and underbanked Americans say high fees are the main reason they have…
