Blockchain Transaction Overpowers PayPal Transactions

Blockchain Transaction, the cheaper and faster medium of transaction.
Various countries and banks are opting for Blockchain Transactions.

Rajarshi Mitra Independent Analyst

According to an investor, who goes by “Crypto Michaël” stated that it costs between $5 and $50 to send $100,000 in Bitcoin but costs at least $1,500 to send the same amount through Paypal. As per his original tweet:

"Transferring abroad $100,000 in $BTC through the Blockchain: fees of $5-50.

Transferring abroad $100,000 of value through Paypal: fees of $1,500-4,000 + PayPal is able to lock the amount for some period

I mean, no brainer.

#CRYPTO #BITCOIN $BTC"

Blockchain transactions are very fast. Payments can be received any moment by the recipient depending on the blockchain traffic. It might take a few seconds to a few hours. Whereas for Paypal, the central authority may hold the fund for a few days for security reasons. This may result in the delay of funds by a few days.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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