Bitcoin transaction volume surpasses that of Visa and Mastercard

Kelward

sr. member

Activity: 560

Merit: 326

Quote from: Princess Leah on July 18, 2024, 10:51:33 AM

Currently the daily transaction rate of Bitcoin by users has surpassed that of Visa and Mastercard meaning that majority of people are currently beginning to view Bitcoin blockchain as a better and safer alternative for means of carrying out transactions and also more people are coming into the crypto space.

Aldo I for prefer if to say you share link to support dis your information, however I no need to doubt di information because e de very possible. Di rate wey Bitcoin adoption take de increase geometrically, I no de surprised say e don surpass Visa and Mastercard wey don de established before Satoshi, create Bitcoin. I de sure say in di near future Bitcoin go gain more acceptance as an alternative means of payments for every corner of the world, just like visa and Mastercard.

See di way wey Donald Trump, wey no be pro Bitcoin before now, take de embrace am because im don understand say im need di growing numbers of Bitcoin enthusiasts to vote for am. Dis one go follow show you say Bitcoin and cryptocurrency go take over money matter very soon.

CryptoHeadlineNews

hero member

Activity: 1092

Merit: 747

Quote from: Princess Leah on July 18, 2024, 10:51:33 AM

Currently the daily transaction rate of Bitcoin by users has surpassed that of Visa and Mastercard meaning that majority of people are currently beginning to view Bitcoin blockchain as a better and safer alternative for means of carrying out transactions and also more people are coming into the crypto space.

That's a good news, as it's one prayer we the Bitcoin enthusiast has always have in mind to have Bitcoin stand out across all other mediums of payment, because with this record, it actually many are investing in Bitcoin. But however, I don't know where you for don get this your Data for comparison about the daily transaction record of Visa and MasterCard from, as eh for really make sense if to say you been share am for this your thread, as when it comes to Bitcoin, we all know say it can be found on its Blockchain (i.e Blockchair.com) whereas, the daily transaction of Bitcoin is said to be 490,059, as shown below.

Samlucky O

sr. member

Activity: 462

Merit: 355

The great city of God 🔥

Quote from: Princess Leah on July 18, 2024, 10:51:33 AM

The adoption of the Bitcoin blockchain by several companies made the transaction speed of customers more faster and secure and further making the Bitcoin blockchain more popular and therefore it's transaction volume began to compete well among others like Visa and Mastercard.

That's true bitcoin or cryptocurrency transaction is faster and preferable than any other transaction. It is secure and reliable but if you mistakenly sent to a wrong address, it can not be undone meaning it has lost forever. That is the more reason we should be careful when transacting with bitcoin, always double check or tripple check to see if the address is correct before sending otherwise it's gone for good. Apart from that bitcoin is another means of transaction that that allows us to send billions of dollars withing few seconds without the interference of banks like sending 10000BTC within some few seconds. So bitcoin is more preferable than any other means of payment. It has no maximum withdrawal limit in Dex, but other means of transaction always have maximum withdrawal limit which is even lesser than 1 btc. So in which ever way Bitcoin is more preferable than any other payment system.

EluguHcman

sr. member

Activity: 504

Merit: 254

Quote from: Princess Leah on July 18, 2024, 10:51:33 AM

Currently the daily transaction rate of Bitcoin by users has surpassed that of Visa and Mastercard meaning that majority of people are currently beginning to view Bitcoin blockchain as a better and safer alternative for means of carrying out transactions and also more people are coming into the crypto space.

I would be in doubt to this because currently we have lesser number of Bitcoin adoptors while we have majority that have not accepted the he use of Bitcoin for transaction yet.

Let us for instance look into our societies of today Nigeria in particular such as our neighborhoods, then we would testify it that all of us do transact with the fiats while have inferior numbers of Bitcoin acceptance for payments.
Let us also not misunderstand it that the fact we may have lost of Bitcoin adoptors in the society does not mean their Crypto wallets are being active on transactions in daily basis.

The minor and majority shops around us are majorly accepting fiats for payments. This alone proves electronic fiat payment such as the mentioned Visa and Maters means of payments are still ahead of Bitcoin transactions in ratio of volume.
Even, most of us being Bitcoin enthusiast are basically holding Bitcoin for investments which further financial transaction are executed with the fiats.

Perhaps... Satoshi Nakamoto intension on the invention of Bitcoin is not for Bitcoin to compete with the fiats. Although the range of Bitcoin transaction is on daily basis increasing which lot of individuals are becoming convenience in running their transactions using Bitcoin.

Amphenomenon

sr. member

Activity: 700

Merit: 470

Hope Jeremiah 17vs7

Quote from: CryptopreneurBrainboss on July 18, 2024, 04:58:43 PM

Bitcoin has always been a safer means of carrying out transaction na just say it has just been less trusted by the people because of the bad image the governance and media is giving to Bitcoin. This achievement wey Bitcoin just get go well because e dey show say more people are beginning to trust Bitcoin to use it and increase the daily volume but make we know say all this volume no be all be for purchase of items as some na due to NFT (ordinals) wey dey congest Bitcoin Blockchain of recent. MasterCard and Visa card dey also lose it dominance as some countries no dey too use them again like for Nigeria wey I no fit remember the last time banks issued their card rather na Verve wey dem dey distribute.

This one na true but if nor be the Ordinals many more people go don dey use bitcoin for payment bcos na dis that one make many people cir go dey use Monero, LTC and the likes for payment, infect maybe some go even still use the Visa & Mastercard that time but as at now if bitcoin fee just fit remain like or at least go average, the gap wey e go give these Mastercard & Visa go huge one.

Quote from: CryptopreneurBrainboss on July 18, 2024, 04:58:43 PM

Quote from: Princess Leah on July 18, 2024, 10:51:33 AM

Currently the daily transaction rate of Bitcoin by users has surpassed that of Visa and Mastercard meaning that majority of people are currently beginning to view Bitcoin blockchain as a better and safer alternative for means of carrying out transactions and also more people are coming into the crypto space.

The adoption by large business dey put the currency for the world map and now presidential candidate dey talk about am for election. Bitcoin dey grow and this recent achievements just dey tell us say this bull market go bloody and if you never accumulate Bitcoin, e never too late to start now because one thing to dey use know when Bitcoin bull go start na when volume begin increase and good news just dey full everywhere.

This Donald Trump campaign dey increased Bitcoin hype even after the Bitcoin ETF don make many enter Bitcoin countries wey first dey Sceptical don dey legalised am, wen dis bull go kick omo, price go surge wella n dat na why all these Mt Gox and others news nor dey move me.
Infact I cor dey like all these FUD news bcos me nor send if the price dip I get more quantity of bitcoin sef as I accumulate more.

CryptopreneurBrainboss

legendary

Activity: 2408

Merit: 4282

eXch.cx - Automatic crypto Swap Exchange.

Bitcoin has always been a safer means of carrying out transaction na just say it has just been less trusted by the people because of the bad image the governance and media is giving to Bitcoin. This achievement wey Bitcoin just get go well because e dey show say more people are beginning to trust Bitcoin to use it and increase the daily volume but make we know say all this volume no be all be for purchase of items as some na due to NFT (ordinals) wey dey congest Bitcoin Blockchain of recent. MasterCard and Visa card dey also lose it dominance as some countries no dey too use them again like for Nigeria wey I no fit remember the last time banks issued their card rather na Verve wey dem dey distribute.

Quote from: Princess Leah on July 18, 2024, 10:51:33 AM

Currently the daily transaction rate of Bitcoin by users has surpassed that of Visa and Mastercard meaning that majority of people are currently beginning to view Bitcoin blockchain as a better and safer alternative for means of carrying out transactions and also more people are coming into the crypto space.

The adoption by large business dey put the currency for the world map and now presidential candidate dey talk about am for election. Bitcoin dey grow and this recent achievements just dey tell us say this bull market go bloody and if you never accumulate Bitcoin, e never too late to start now because one thing to dey use know when Bitcoin bull go start na when volume begin increase and good news just dey full everywhere.

Richbased

sr. member

Activity: 420

Merit: 253

Merely looking at the market capitalization of Bitcoin, it has about $1.26 trillion in market cap. Whereas Visa has about $497.5 billion market capitalization, while Mastercard has about $359.8 billion so even if Visa and MasterCard are combined together it will only sum up to $857.3 billion so you can see the huge difference.

Who wouldn't adopt Bitcoin as a means of payment even though those companies also accepts Fiats but Bitcoin have been the center of attention in recent times so if you're somebody who listens to news frequently you will know that Bitcoin is going towards mass adoption even if it May not happen quickly but with time it's gonna get there.

The blockchain technology has made it more easier for Bitcoin because of it's transparency, security, and unique features so it is difficult to manipulate the system since all transactions can be seen in the blockchain. You don't need to be surprised in the continues adoption of Bitcoin as a means of payment by several companies instead of the regular Visa and MasterCard that was mostly used for transactions, freedom is here and that's what we all wanted, Bitcoin is the freedom we waited for so it has come to make things easier for all.

Princess Leah

member

Activity: 194

Merit: 62

One of the core reason why Satoshi created Bitcoin was for a mode of payment and carrying out transactions, although it's blockchain was not adopted widely due to some hindrances especially by several government because of it's decentralization, but along the line several firms, businesses and popular companies like PayPal, Microsoft, Shopify, including fashion companies like Balanciaga and Gucci etc, adopted Bitcoin and included it in their payment options.

The adoption of the Bitcoin blockchain by several companies made the transaction speed of customers more faster and secure and further making the Bitcoin blockchain more popular and therefore it's transaction volume began to compete well among others like Visa and Mastercard.

Currently the daily transaction rate of Bitcoin by users has surpassed that of Visa and Mastercard meaning that majority of people are currently beginning to view Bitcoin blockchain as a better and safer alternative for means of carrying out transactions and also more people are coming into the crypto space.

Topic: Bitcoin transaction volume surpasses that of Visa and Mastercard (Read 122 times)