For the second time since its inception, Bitcoin surpassed online payment giant PayPal in annual transactional volume.
Per the data collected from global statistics portals, the Bitcoin network posted $1.3 trillion worth of transactional volume in 2018. Within the same timeframe, PayPal recorded $578.65 billion worth of payment transactions. It was the second time in a row Bitcoin outran PayPal. In 2017, the digital currency network had posted 543.52 billion more transactional volume than the global firm.
Growing Remittance Market
Regardless of the stark difference between their performances, both Bitcoin and PayPal benefitted from an increase in remittance. The World Bank reported that overall cross border transactions grew 10% to $689 billion in 2018. Big diaspora and overseas expat population contributed tremendously to the uptrend, leading to higher usage of services like PayPal and Bitcoin.
Nevertheless, Bitcoin did not only serve people looking for cheaper cross-border transactions. The digital currency watched a majority of its transactions volume coming from traders. According to Diar report, the crypto sector as a whole posted” record transaction volumes” across leading crypto exchanges in 2018, with bitcoin resulting the pack as the most dominant asset.
It is unclear how many users utilized bitcoin for remittance, especially when traders were employing the same asset for speculation. It explains how Bitcoin managed to surpass PayPal to its implementation of transactions volume. The latter merely focused on pay and remittance services, while the former remained a multifaceted asset.
The World Bank calculated the remittance market to grew 3.7% to $715 billion in 2019. The prediction signaled that services like PayPal would continue to record higher transactional volume in the upcoming fiscal quarterss. As for Bitcoin, the digital asset are expected to attract significant institutional investments with the launch of regulated bitcoin derivate platforms like Bakkt. Atop that, bitcoin could also attract more adoption if the Securities and Exchange Commission( SEC) approves the first bitcoin-based exchange-traded fund this Q2 2019.
Bitcoin as Remittance Money
Interestingly, the more bitcoin becomes an investable asset, the lesser it would attract the remittance users. It is patently due to the bitcoin’s underlying price volatility. Users would be less inclined to utilize money whose value are subject to change drastically within minutes. Despite the bitcoin’s cheaper transaction fee structure, remittance would most likely select a PayPal or a Transferwise because they would ensure stability.
Nevertheless, to other regions of the crypto sector, projects are attempting to solve the volatility problem. At the same period, they are retaining the cheaper-transaction status attached to cryptocurrencies. Social media giant Facebook, for instance, announced that it would launch a stablecoin for remittance.
” If Facebook launches the stablecoin they are reportedly building, it will speedily become the most used product in crypto ,” said Anthony Pompliano, founder and partner at Morgan Creek Digital Assets.
If Facebook launches the stablecoin they are reportedly build, it will quickly become the most used product in crypto.
WhatsApp has over 200,000, 000 users in India alone.
The Indian government has been fighting crypto too so things are about to get very, very interesting…
— Pomp (@ APompliano) December 21, 2018
Just recently, banking giants JP Morgan and Mizuho also launched their stablecoins for the purpose of cheaper cross-border intrabank transfers and payments.
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Wear these trendy AF things this weekend( yes, MDW is this weekendplan accordingly with your shipping options) so you can looking somewhat patriotic and hot when you’re drunkenly chanting “U-S-A” and pretending to give a shit about ‘Murica.
Instead of your typical short summer dress, go for one with a little length. The flowy dress is of great fun and builds for a perfect Boomerang on Insta. Pair with small wedges and an all white denim jacket if it gets chilly out. The back comes together with two small adjustable prows, and anything with prows is a winner in my book.
Bring boho vibes with a crochet top and a pop of yellow in between some red, white, and blue. Maintain it low-key with distressed high waisted denim shorts, white flip flops, or your comfiest sneakers. Wear fun earrings to add some stance, a chic choker, and youll be shotgunning a brew with the guys in stylejust please don’t say you’re “one of the guys” or that “girls are too much drama”.
Make it sexual and flirty with a crisp, white off the shoulder romper. Brought under other colorings by pairing with a red clutch, red earrings, and blue heels. Just keep in mind that rompers are all fun and games until you have to pee-pee and next thing you know, youre naked on the toilet. If you drink enough, you wont care eventually.
Hide your shish kebab bloat with a plunging color-blocked one piece. Wear a patriotic swimsuit you can get away with wearing during anytime in the summer. Add a floppy hat, strappy sandals, and funky sunglasses for a complete Murica look.
Wear this frayed denim coat over an American graphic tee for a casual, street style seem. Pair them with white or red shorts, low-heel sandals and a striped crossbody. America, fuck yeah.
This is for the girls who think its cute to wear an American flag like cape. Um, hello? This isnt Halloween. Youre not Captain Americaleave that to your drunk persona. Opt for a kimono or poncho that does the same thing but seems cuter and won’t have your uncle accusing you of disrespecting the flag when you post a pic of your attire on Facebook. Throw over a distressed denim mini skirt or your bathing suit. Before the night is over, grab a sparkler and take a scene for the gram. This is really Insta-worthy.
Instead of an obnoxious headband with like, fireworks falling out of it, find a red, white, and blue patterned wrap that has multiple uses. Wear it as a bracelet, scarf or a fucking bandeau if you want. This boho hair wrap is going to be the next scrunchie, just watch. Im going to say I fucking told you so.
Lastly, after you figure out wtf youre dres, dress your beer in a cute drink sleeve because even your beverage has to look good too. Score major brownie points by bringing cute drink floaties to share. Now, everyone will be able to play swimming flip cup in the pond, thanks to
me you. #MakeAmericaDrunkAgain.
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