According to the research conducted by CryptoSlate, the world’s #1 digital coin has a larger transaction volume than the e-commerce payment system PayPal.
A crypto analytics specialist Yassine Elmandjra published a chart on his Twitter which contained transaction values for such major financial giants as PayPal, Visa, Mastercard, UnionPay etc.
Bitcoin’s base layer transaction volume doesn’t compare to Visa’s, MC’s et al. But it was never supposed to. pic.twitter.com/jiPpxR4SOQ
— Yassine Elmandjra (@yassineARK) August 22, 2018
With a shocking 1.3 trillion USD yearly transaction value, Bitcoin easily surpassed PayPal (maybe, that’s why PayPal’s ex CEO dislikes it so much) and is now coming for Visa.
While it is still a bit early to assume that Bitcoin will outrun Visa soon, since the credit card annual transaction value was nearly $9 trillion 2 years ago, we can obviously notice a positive trend for BTC.
According to the experts from CryptoSlate, if Bitcoin keeps increasing at a similar pace or quicker, it will make Visa step aside by 2022.
Although Elmandjra provided all the sources in his chart, there were still people that disagreed with him. Some believe that a lot of Bitcoin transactions are conducted by scammers and speculators which makes them illegitimate.
Nevertheless, nobody can argue the fact that Bitcoin is quickly establishing itself on the world’s financial market and already became a decent competitor for the conventional payment systems.
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