Bitcoin will catch up Mastercard

Bitcoins daily turnover reached 8,14 billion. This figure is corresponding with 272,000 transactions a day. From 8,14 billion 7 billion Bitcoin transactions are contributed by centralized cryptocurrencies exchanges. About 5-10% of this volume are transactions on Bitcoin blockchain every day.

MasterCard

At the same time one may dig into financial statements of Mastercard it’s published for the III quarter of current year. From this statements one may learn that Mastercard handles $4,4 trillion worth market. This figure means that Mastercard settles about $12 billion transactions a day. Another payment provider, Visa, reveals that it processes more than $30 billion a say, $11 trillion a year. These figures corresponds to the 65,000 transactions a second.

Bitcoin is superior to the other top cryptocurrencies. Ethereum turnover is about $600 million a day, Litecoin – $170 million, and Bitcoin Cash contracts volume is $120 million. The question with XRP remains since one can’t retrieve the same data from the XRP network and this may signalize that one deals with quasi blockchain of Ripple.

One of the most cryptocurrencies’ advantage that their blockchains enable transferring millions dollars in short time, with minimum fees and with additional level of safety granted by the distributed ledger technology. Many non crypto companies demonstrate visible interest to the blockchain. For example, Mastercard has secured a patent for Fractional Reserve Cryptocurrency Bank .

2018-11-25T22:29:50+00:00 26 November 2018|Tags: , |0 Comments

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