Each Transaction Costs the Bitcoin Network $45, Large Improvements Needed to Beat VISA144

Bitcoin is sometimes cited as a potential competitor to leading payments processing service VISA. However, data from the Bitcoin blockchain suggests the network has a long way to go before it can match the convenience, speed, and cost of VISA.

According to its annual report, VISA processed over 120 billion transactions in 2018 which moved $11.2 trillion. Worldwide, there are 3.3 billion VISA cards in circulation on a network that boasts 65,000 transactions per second in capacity.

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