ETFs Aren’t As Important As a Possibility to Buy Cryptos With a Card, Buterin Says

ETFs Aren’t As Important As a Possibility to Buy Cryptos With a Card, Buterin Says

One of the Ethereum “fathers” Vitalik Buterin has stood by the mass adoption of cryptos through allowing people to purchase them effortlessly with credit cards. In his recent Twitter statement, Buterin said that the community’s focus on ETFs (exchange-traded funds) should not be as important as the latter.

A solo tweet of Buterin has aroused a sprawling discussion of whether he is right or wrong.

Buterin Stands By Adoption of Cryptos Among Ordinary Users?

As it is known, ETFs are typically aimed at people who have more than a mediocre understanding of the investment. These funds are usually traded on stock exchanges which are not reachable for lots of common users.

Early bitcoin investors, brothers Tyler and Cameron Winklevoss, are ones of those who agitate for bitcoin ETFs even though their later proposal was rejected by the U.S. Security and Exchange Commission.

On July 29, the creator of the Ethereum net Vitalik Buterin expressed an opinion saying that people rather concentrate around making possible the purchase of cryptos via credit cards than ETFs. According to his point of view, the former is more likely to contribute to the wider adoption of cyber money.

On his Twitter, Buterin wrote:

"I think there's too much emphasis on BTC/ETH/whatever ETFs, and not enough emphasis on making it easier for people to buy $5 to $100 in cryptocurrency via cards at corner stores. The former is better for pumping price, but the latter is much better for actual adoption.”

Users promptly reacted to Buterin’s comment.

One of them said that if people create a chance to earn digital coins, the adoption of cryptos will be more encouraged. It means that when an individual earns a cyber-coin, he or she does not have to convert it into public currency any longer. Others expressed their points of views regarding the use of cryptos by businesses and so on.

Image Source: Flickr

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