As interest in cryptocurrencies has grown, the option to buy it has become simpler. While this is a positive for first-time buyers, this simplicity can come at the cost of higher transaction fees. So if your ambitions go beyond buying infrequently, it pays to understand the cost of buying cryptocurrencies.
The most successful online businesses reduce complex processes to just a few simple clicks, as consumers prioritize time-saving convenience and are happy to pay more for it.
This is the case as more and more recreational users buy cryptocurrencies. For example, the most popular way to buy Bitcoin is to reduce the complicated process to a few simple clicks. It happens that this comes with a higher cost, but since the amount involved is small, the process that happens in the background is hard to understand and the user is happy to pay and move on.
Let’s say you only want to buy 100 EUR/100 USD in Bitcoin; we can rank the options based on ease of use.