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Author Topic: [2019-3-1]Bitcoin Exceeds PayPal in Annual Transaction Vol at $1.3T  (Read 64 times)
Vladdirescu87
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March 01, 2019, 08:18:26 PM
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Bitcoin, the leading cryptocurrency on the market, has outshined the online payment processing bull PayPal in the total number of yearly transactions. From the data given by Global Statistics portal, Bitcoin (BTC) had $1.3 trillion worth of transaction volume last year and PayPal had $578.65 billion.

In 2017, Bitcoin was seen surpassing the yearly transaction value processed by PayPal when over $1 trillion worth of BTC transactions were achieved, hence exceeding PayPal by around $543.5 billion, according to the Global Statistics - data aggregator service.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bitcoin-exceeds-paypal/

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March 02, 2019, 03:31:13 AM
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But most transactions comes from exchange withdrawal/deposit etc, aren't they? While PayPal are more or less used by regular people. So this volume stats doesn't reflect the state of Bitcoin adoption.

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Siren
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March 02, 2019, 04:39:59 AM
 #3

But most transactions comes from exchange withdrawal/deposit etc, aren't they? While PayPal are more or less used by regular people. So this volume stats doesn't reflect the state of Bitcoin adoption.
That's right mate since paypal are used for buying goods and paying service in which people need for daily transactions while in bitcon is more on trading coins and tokens that only circulation is inside crypto community and not in real world(though there are some cases that bitcoin also used to buy goods and pay service)but the majority is for crypto trading only
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March 02, 2019, 07:06:00 AM
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I do not want to take PayPal's side of this argument, but it will be fair to say that most PayPal transactions exceeds say $10 per transaction <because of expensive fees that needs to be paid to use their service>  This is not the same for Bitcoin transactions, because a lot more cheap micro transactions are being done with Bitcoin. <Much less than $5 transactions at a fraction of the price>

We have not even considered the millions of off-chain transactions that are done via the Lightning Network now. So PayPal cannot compete with Bitcoin anymore, when it comes to transaction volume.  Roll Eyes

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March 03, 2019, 07:56:59 AM
 #5

But most transactions comes from exchange withdrawal/deposit etc, aren't they? While PayPal are more or less used by regular people. So this volume stats doesn't reflect the state of Bitcoin adoption.
Not only that, but Bitcoin is used mainly and heavily in speculations between cryptocurrencies and exchange platforms hoping to gain profits and then convert them into cash.
PayPal is an intermediary between banks and stores, so the effect of using it is much higher than speculative "which ends and falls with the collapse of prices & shitcoins."

Also, annual transactions depend on the number and estimated value "I can pay small things using PayPal," which may differ from Bitcoin transactions.

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