$3.2 Trillion in Bitcoin Payments Processed in 2018, Better Version of Gold?

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By CCN.com: Throughout 2018, more than $3.2 trillion worth of Bitcoin payments were processed on the public blockchain network.

The high on-chain transaction volume of the dominant cryptocurrency has demonstrated the efficiency of the asset as a cross-border payment method and as an alternative to existing settlement systems for international payments.

Often, Bitcoin is compared to gold as a store of value and a medium of exchange. Both assets are unaffected by the performance of the broader financial market and are generally not correlated with traditional investment vehicles.

But, a case can be made that Bitcoin is a more efficient version of gold because of its ability to function as a medium of exchange and a cross-border payment system.

In November 2018, Binance, the world’s largest cryptocurrency exchange sent $600 million with a $7 fee, processing well over 107,000 Bitcoin within an hour.

 

read more at ccn.com

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