Hello dear readers,
despite the "bear market" in 2018 and faltering cryptocurrency prices, Bitcoin has a very high transaction volume, which is already much higher than the transaction volume of Paypal and Visa.
In this post I would like to share an article with more information about the topic.
Here you can find the original article in German: https://www.btc-echo.de/transaktionsvolumen-bitcoin-nimmt-es-mit-visa-master-card-und-paypal-auf/
Picture Source Shutterstock and BTC-Echo
The transaction volume of Bitcoin in 2018 was 450 times higher than Visa's. Bitcoin's total cash flow was $ 3.4 trillion in 2018 - 5.8 times PayPal. In certain ways, the cryptocurrency can already compete with the competition. That's what a study by DataLight found out.
Visa, MasterCard and PayPal: These are the names of the companies that are involved in moving a lot of money. As a study from Datalight now suggests, Bitcoin can join directly in this list - at least with reservation.
As far as the transaction volume in 2018 is concerned, Bitcoin exceeded that of the payment service provider Visa in 2018. The total amount of money moved is $ 3.4 trillion. This is equivalent to 5.8 times PayPal. What stands out from the analyzes of Datalight: The average transaction volume of Bitcoin is significantly higher than that of the competition. For example, the study comes to the following conclusion:
"In terms of total transaction volume, Bitcoin overtakes PayPal and approaches MasterCard, and as we understand it, we've decided to calculate the average transaction sum.
Bitcoin is many thousand times ahead of its competitors in this regard. It is [...] 450 times higher than Visa's. This tells us that the Bitcoin network is more appropriate for larger and probably international payments. "
Bitcoin establishes itself as digital gold
From this one can infer, in particular, that Bitcoin continues to establish its place as digital gold. In the field of microtransactions and scaling issues, the cryptocurrency can not (yet) compete with the competition. However, the ability to save value with BTC and send it around the globe much more efficiently outstrips that of the competition.
It's likely that word has already spread that BTC beats its physical equivalent in terms of practicability. Because the cryptocurrency has significantly lower transaction costs, you can safely keep them, it is deflationary, censorship resistant and more liquid. The only drawback is the ability of Bitcoin to scale.
Source of the original article in German: https://www.btc-echo.de/transaktionsvolumen-bitcoin-nimmt-es-mit-visa-master-card-und-paypal-auf/
Greetings and hear you in my next article.
Michael Thomale - @michael.thomale