Bitcoin accounts for $1.3 trillion in annual transfers, more than PayPal, second only to Visa

According to media reports, analysts say bitcoin has completed its move beyond PayPal and Discovery credit CARDS, with $1.3 trillion in transfers in 2018.

As the world’s most valuable cryptocurrency, Bitcoin now has a much higher annual general ledger than PayPal, after Visa.

Yassine Elmandjra, an encrypted currency analyst at ARK Invest, said the total amount of Bitcoin transfers was far more than the amount paid by PayPal.

This top-of-the-art cryptocurrency also exceeds the transaction amount of the discovered credit card (Discover). The growth momentum of Bitcoin shows that it has a more “interesting” future than most other crypto currencies.

Figure from Financemagnates

Elmandjra released a contrast chart showing the growth of Bitcoin’s transfer amount in recent years. Bitcoin’s transfer turnover this year increased from $1 trillion last year to $1.3 trillion this year. However, despite the strong trend, but its volume from Visa, MasterCard (MasterCard), UnionPay and so on is still a small distance.

Blockchain’s data show that the Bitcoin market has grown by nearly 80% per cent a year over the past five years. Bitcoin’s momentum peaked in 2017: the transfer value increased eight times times.

Bitcoin, combined with all crypto currencies, has a large distance from traditional payment tools like visa, and Visa has handled $8.9 trillion of transfers in 2016, a dollar-paying giant that currently has about seven times times the size of bitcoin.