Bitcoin Has Already Edged Out PayPal In Transaction Volume, But Could It Ever Beat Visa?

2018-9-1 15:50

In the last few years, the crypto world has seen a sharp upscale both in the introduction of new promising tokens and an increase in transaction volumes. In 2018, Bitcoin alone is already hitting the $1.3 trillion mark in transaction volume.

At this point, Bitcoin has already surpassed other popular players like PayPal and Discover, only becoming second to Visa. All other payment processors trail behind Bitcoin in terms of transaction volumes.

The Crypto Future Looks Bright

Yassime Elmandjra, a crypto analyst working for ARK Investment, has something to say about this development. According to him, this trend signals a promising future for the cryptocurrency as well as other altcoins. In a tweet, Yassine posted a graph illustrating Bitcoin’s original transaction volume as compared to those of UnionPay, Visa, Discover, and MasterCard.

In 2016 alone, Visa handled around $8.9 trillion in transaction volume. In fact, the total transaction volume of all cryptocurrencies currently in the market doesn’t even get close to that of Visa alone.

However, that doesn’t mean that the status-quo will remain forever. With many cryptos gaining good foothold in the industry and getting popular in the global payment ecosystem, it’s pretty certain that thing could very well change soon.

In fact, data obtained from Blockchain indicates that Bitcoin has been experiencing an annual 80% increase in transaction volumes in the past half decade, a trend that hit its peak back in 2017 when the Bitcoin market experienced a cool eightfold upshot. For a digital asset that many good experts consider a niche market, that kind of increase is good news.

Can Bitcoin Surpass Visa?

The only question now is whether the market will maintain the same growth rate. If that happens, then Bitcoin could very easily knock Visa out of the race as it will have achieved upwards of $13 trillion worth of transactions by 2022. That sounds as interesting as it could happen.

However, this doesn’t in any way imply that users have to transact trillions spending on goods and services using cryptocurrencies. As a matter of fact, a majority of Bitcoin transactions actually happen in speculative trading.

The post Bitcoin Has Already Edged Out PayPal In Transaction Volume, But Could It Ever Beat Visa? appeared first on ZyCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 62896.79 (-0.04%)
Объем 24H $25.392b
Изменеия 24h: 2.05 %, 7d: 5.29 %
Cегодня L: $62516.25 - H: $63319.2
Капитализация $1238.828b Rank 1
Цена в час новости $ 6509.73 (866.2%)

transaction bitcoin volume paypal visa beat ever

Источник: zycrypto.com

transaction bitcoin → Результатов: 126


Фото:

Coinbase’s Bitcoin Batching Has Saved 75% in Fees and Reduced Daily Transactions By 95%

Bitcoin transaction batching, which combines many send requests into a single transaction on Coinbase, has saved over 75% in transaction fees, and in turn, reducing total daily transactions by 95%. In their most recent blog, Coinbase reported the findings to highlight the benefits of Bitcoin transaction batching as a scaling solution to its customers, its […]

2020-8-13 00:25


Bitcoin Price Drop To $3200 Would Still Continue Uptrend, Fundstrat Confirms

The price of Bitcoin may be heading down to $3200, new research has warned — as the first and foremost cryptocurrency fails to find support at its April lows of $6450. The Bigger Picture In a detailed transaction analysis released June 13, Fundstrat Global Advisors concluded that — due to the lack of support — BTC/USD could hit February’s $6900 low before rebounding and subsequently falling further to somewhere between $5000 and $5500.

2018-6-14 13:00


Bitcoin Researchers Propose New Transaction Ordering Rule

Technology & Security This week four Bitcoin Cash (BCH) researchers and developers proposed a different transaction sorting process for the BCH protocol called ‘canonical transaction ordering.’ The proposed method would sort transactions against their identifiers, rather than the current topological transaction ordering rule, making it easier to for the network to process very large blocks.

2018-6-14 05:10


Фото:

Bitcoin Cash Researchers Propose a New Transaction Ordering Rule

This week four Bitcoin Cash (BCH) researchers and developers proposed a different transaction sorting process for the BCH protocol called ‘canonical transaction ordering. ’ The proposed method would sort transactions against their identifiers, rather than the current topological transaction ordering rule, making it easier to for the network to process very large blocks.

2018-6-14 03:10


Canadian Exchanges Reports Transactions Over $10k per Proposed Regulations

Once the proposed regulations are implemented, every transaction above $10,000 CAD will have to be reported. Also Read: Bitcoin in Brief Monday: Korean Exchange Hack Takes a Toll on Crypto Markets Crypto Exchanges to Report as MSBs The Department of Finance Canada has issued a Regulatory Impact Analysis Statement regarding proposed amendments to the country’s AML/ATF

2018-6-12 02:07


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Visa vs. stablecoins: are they really competing?

Is Visa’s report on stablecoins an objective analysis, and who is behind the majority of transactions if not real users? Stablecoins, crypto’s promise for stability and utility, are facing a stark challenge: their actual use. A recent study by Visa…

Tens of billions in stablecoin transactions ‘inorganic,’ Visa says

International payment giant Visa has unveiled a new study challenging the assumption that stablecoin turnover is approaching levels seen in traditional payment networks. Visa, a global payment network, has raised concerns about the reliability of stablecoin transactions, opposing the common…

Криптобиржевой рынок Беларуси: перспективы и подводные камни

Криптовалютный рынок Беларуси представлен пятью официальными биржами. Рассказываем о нюансах работы площадок, узнаем у операторов о законодательных нюансах, выгоде и интересе к белорусскому рынку российского бизнеса.