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