#CryptoFees101 Crypto payments are a way to pay for goods and services using cryptocurrency instead of traditional currencies (such as dollars, euros, or rubles).
Here are the main points to know:
🔑 What is cryptocurrency?
Cryptocurrency is a digital (virtual) currency based on blockchain technology, which ensures transparency and security of transactions. Examples of popular cryptocurrencies:
Bitcoin (BTC)
Ethereum (ETH)
Tether (USDT)
Litecoin (LTC)
💳 How crypto payments work:
The buyer transfers cryptocurrency to the seller's wallet.
The transaction is recorded in the blockchain.
The seller receives confirmation and sends the goods or provides the service.
🧾 Where crypto payments are used:
Online stores
Gaming platforms
Freelancing and international transfers
Businesses operating in jurisdictions with limited access to traditional banks
✅ Advantages of crypto payments:
Fast international transfers
Low fees (depending on the network)
Anonymity or pseudonymity
Independence from banks
❌ Disadvantages:
Volatility (cryptocurrency prices fluctuate significantly)
Not all sellers accept cryptocurrency
Security risks when mishandling the wallet
Legal restrictions may exist in different countries
