Ethereum founder Vitalik Buterin said users in Argentina relied on Binance internal transfers because they were free and instant, arguing that transaction costs undermined early crypto payment adoption.
Ethereum founder Vitalik Buterin said high fees stifled the first major wave of crypto payment adoption. Recalling a trip to Argentina, he said many local users depended on internal Binance transfers, which he described as free and instant. His comment points to a longstanding challenge in digital asset payments: when blockchain transaction costs rise, users often migrate to lower-cost alternatives or custodial platforms that can move balances off-chain more cheaply and quickly.