On July 12, South African payment gateway service Payfast announced the company is dropping bitcoin core (BTC) payments due to network congestion and high fees. Payfast emphasized that BTC has a number of limitations and design flaws which makes it an “impractical substitute for cash.”
Also read: G20 Leaders Issue Declaration on Crypto Assets – A Look at Their Commitments
Network Congestion and High Transaction Fees Force Payfast to Drop BTC Support
According to a blog post written by Payfast, one of South Africa’s largest online payment gateways, BTC payments will no…

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