Businesses in the developed world pay visa and mc and amex close to 3%.

I wish it was that low, once you account for forex + intermediate processor fees. More like 4-5%.

Fees seem to be capped in the EU since 2015. 0.3% to 1.9% depending on the transaction.

https://www.mastercard.co.uk/en-gb/vision/terms-of-use/Inter...

It's supply and demand. Nobody wants cash, everyone wants cryptocurrency.

Nope, 5% means the black market is quite efficient. Black market operates on high-yield since they are illegal, hard to circumvent and usually monopolized by a few.