Is Samecoin’s ecosystem better than Visa for transactions?

Samecoin’s ecosystem has been built from the ground up as an easy-to-understand family of stablecoins like SameUSD, integrated into a simple payments app SamePay with all the benefits of DeFi and none of the complications.

That’s why more and more people like Peter are choosing Samecoin and SamePay for transactions over traditional methods like Visa. Peter loves being able to spend a currency he can understand, SameUSD, alongside trading crypto like ETH on the SamePay app.

For transactions, SameUSD has tons of benefits when compared to other cryptocurrencies. It’s a safe store of value that isn’t at the whim of huge fluctuations like BTC. But Samecoin and SamePay also have benefits when compared to tried-and-tested payment processors like Visa. Let’s look at how they compare a few different areas:

Fees

Samecoin offers some of the lowest transaction fees in the world. These are already low on the SamePay app, competitive with most VISA processing fees. While VISA transactions can be fee-free, this isn’t necessarily the case if you’re using a VISA credit card. Fees vary between providers but could be up to 3%, with an average of around 1.5%.

In comparison, transactions using the SamePay app are an already-low 1%. And if you also hold the Samecoin utility token when using the SamePay app, these are reduced even further to just 0.5%.

As you can see, transactions are lower in the Samecoin ecosystem. The importance of this shouldn’t be understated, especially if you make large transactions or regular payments: you save money with the Samecoin ecosystem. It’s as simple as that. And that’s without even looking at the other benefits of the Samecoin ecosystem to your finances, like staking rewards.

Ease of acceptance

Getting accepted for a credit card can be difficult at the best of times. You’ll normally have to pass certain security and credit checks, as well as complete a range of other identification checks. This can make it difficult for some people to get accepted at all, but even if you are accepted — it takes time.

Some people in certain locations simply can’t get a credit card at all.

Anyone can get started with the Samecoin ecosystem. Setting up SamePay is open to everyone, and only takes a few minutes. You’re free to buy and sell crypto, make transactions, and enjoy all the benefits of Decentralized Finance without having to jump through any hoops.

Control of your money

With a DeFi protocol like Samecoin, you have complete control of your money at all times, rather than relying on private institutions or unknown corporations.

Processing times

Transactions only take a few minutes with Samecoin and SamePay. Processing with a credit card not only takes time, but it could also cost you money. The crypto market is always open, unlike banks that have to follow working hours and won’t get anything done outside of these times.

Transparency

The entire Samecoin ecosystem is completely transparent at all times, meaning you know exactly how it’s built, how your money is controlled, and can even vote on future governance decisions with vSamecoin. It’s one of the most transparent systems in the world, unlike some other financial institutions.

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