Bitcoin outperforms Paypal and Visa in transaction value

Bitcoin outperforms Paypal and Visa in transaction value

New data coming from Bitcoincharts, Bitstamp, and BC.I. say that with over $2.4 trillion that has been sent this year, Bitcoin is currently processing more transaction value than Visa and Paypal which handle transactions of $1.3 trillion per year.

Furthermore, the transaction value of Bitcoin has also surpassed that of Discover credit card.

Despite this year’s bearish trend, over $200 billion in value is sent per month using BTC.

According to cryptocurrency analyst Yassine Elmandjra too many people are focused on the number of transactions Bitcoin handles each year, instead of looking at the actual dollar amount. He agrees that we cannot compare Bitcoin and say Visa or MasterCard in terms of their Base layer transaction volumes.

Forecasts show that Bitcoin transactions will continue to grow. Much of Bitcoin’s transactional value, however, still comes from speculative trading.

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