Bitcoin Transaction Volume 450x Higher than Visa & Value Transferred 5.8x Higher than PayPal: Report

As per the latest report by DataLight, despite 2018 being bearish for crypto market and Bitcoin losing 80 percent of its value, in comparison to Visa, MasterCard, and PayPal, Bitcoin as a payment system has been thriving.

When it comes to annual change in price and capitalization, Bitcoin fell sharply while classic payment systems showed more than 10 percent growth. While the price of Bitcoin at the end of 2018 has been around $3,800, Visa’s price has been $132, $188 for Mastercard shares, and $84 for PayPal shares.

Similar to price, market cap change shows the same dynamics. However, at 2017 end, at $237 billion Bitcoin’s capitalization has been very close to Visa’s $258 billion and surpassed that of MasterCard and PayPal.

It shows what we already know more that is the crypto market is more volatile than the traditional market assets as the research states, “the average daily volatility of Bitcoin was more than 6% in 2018, which is almost 3 times higher than that of its competition.”

Bitcoin loses to these payment giants in terms of the number of accounts as well.

Bitcoin Beats Classic Payment System in Payment Statistics

Taking a look at the number of transactions, a key factor of a payment network, classic payment systems have much lower indicators than Bitcoin and the lower the indicator, the higher the activity index.

However, Bitcoin surpasses centralized traditional systems in terms of total transaction volume.

“Bitcoin is many thousands of times ahead of the competition in this aspect. Its $40000 is 450 times larger than Visa’s. This tells us that the Bitcoin’s network is more suitable for larger, probably international payments.”

Another parameter where Bitcoin beats these systems by a long margin is the fee. The report details that for smaller amounts that is below $100, MasterCard and Visa is a reasonable choice but as sum increases, Bitcoin is a better choice due to its low fees at $0.20 for even millions of dollars.

While Visa, MasterCard, and Paypal have centralized data centers to process transactions, Bitcoin has approximately 1000 nodes that remained steady even during the bear market.

This all has been while Bitcoin has been created just 10 years back in 2009 while PayPal is here since 1998, and Mastercard and Visa go way back to 1966 and 1958 respectively.

Though it took 60 years for these payment giants to become industry leaders, the report concludes Bitcoin is much superior to these systems right now.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,470FansLike
2,795FollowersFollow
4,233FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Second Half of 3-Yr Bull Market: Ether’s Crazy Run has 90% of its Supply in Profit

This past weekend, the price of Ether went past $400 to as high as about $420, a level last seen in July 2018. This...

Teenage Mastermind Behind the Twitter Hack Owns $3.39 Million in Bitcoin (300 BTC); Bail Set At $725k

The 17-year old Twitter-hack mastermind holds over $3 million in BTC value with only $725,000 set for bail. In a bizarre moment last month, Twitter...

Bitcoin (BTC) Jumped to $100,000 on Binance Futures

There have been several predictions that see Bitcoin hitting a six-digit figure. On Sunday, this became a reality, very briefly, thanks to an algorithm. Bitcoin...

Flash Crash Caused Serious Network Congestion for ETH, ETC, And ERC 20 Tokens on Coinbase

On August 1, the Ethereum's blockchain faced a spike in network transaction fees, causing a backlog in transfers across several exchanges. Coinbase and Binance,...

Bitcoin’s Wild Weekend Reminiscent of 2017 Bull Rally, ‘Higher Highs Ahead in 2020'

This past weekend, bitcoin had a rough time as the largest cryptocurrency made its way past $12,000 to $12,112 in trading just after midnight...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today