Bitcoin (BTC) Competes With MasterCard, PayPal, And Visa – Here Are The Results

The digital assets have the primary goal of disrupting the traditional financial system and patch the flaws that are plaguing it.

For instance, Ripple has been making a lot of efforts in order to overcome SWIFT which has been used by banks and financial institutions by decades, but it’s outdated, according to more crypto experts.

Ripple’s solutions, on the other hand, make sure that users can enjoy the enhanced speed of transactions, lower fees and also increased security.

Comparing Bitcoin, PayPal, Visa, And MasterCard

Crypto data analytics platform DataLight issues a report comparing Bitcoin (BTC) as a method of payment against Visa, MasterCard, and PayPal.

The research made sure to examine traditional economic indicators which include changes in capitalization and price changes as well.

According to the analysis, the traditional payment system surged by 10%, and Bitcoin declined.

The report also looked at the total number of transactions per year, and The Daily Hodl wrote the following:

“Visa led with 124 billion transactions while PayPal lagged in the last place with 10 billion transactions. Bitcoin posted the second highest level of transactions per year with 81 billion, higher than Mastercard’s 74 billion yearly transactions.”

It seems that BTC managed to surpass PayPal in the number of total transactions and payment volume with $3.4 trillion. PayPal had $57 billion.

Visa is the leader with $11.2 trillion, and Mastercard comes second with $5.9 trillion.

Regarding the number of Bitcoin accounts, BTC has 25 million accounts, Visa has 3.3 billion, and MasterCard has 2 billion. PayPal has 267 million accounts.

Check out the complete data in DataLight report.

Other than this. Bitcoin has been doing great lately, and the most recent bulls threw the coin above the $5,000 level which was a delight for crypto enthusiasts to see.

2019 is expected to be a more successful year for Bitcoin and altcoins, and so far, things are looking pretty optimistic in terms of price and mass adoption as well.

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