So you paid a 0.1% fee for a less convenient way to pay? I just tap my credit card or phone, and then the CC company debits my bank account automatically a month later, essentially giving me a free small loan plus 2% cash back.

When I wrote that it seems I needed to give more context for those who don’t understand the benefits of self custody Bitcoin.

0.1% is fee to convert to USD and in context of converting anything to USD, like stocks or anything one would hold in an investment account it’s a low fee. This means I keep my liquid capital in Bitcoin which has a strong tendency to increase in value and yet whenever I need to spend it, it’s instantly spendable in multiple ways, literally instantly and for a very very low conversion fee.

I can also use a CC company and I agree there is a 2% cash back. There are multiple companies that are crypto focused and have issued CC and Paypal issues CC and I can settle the monthly balance using Bitcoin also.

What I predict is coming soon, maybe next year or so, if POS support in the US to offer that 2% cash back directly to the consumer from the merchant should they settle in alternative currencies, like Bitcoin, like USD stable coins.

The combined issue of interest payments on stable coin balances (custodial) and legal settlement rebates is what has the banks literally freaking out and starting to try and spread FUD about USD stable coins. They know their business models in the payments space is eroding and soon the money markets space is under pressure.