It is still in conversations – Why Bitcoin should be the present and future of payments across the Globe ? This Decentralized currency has spent 10 years to reach 1% of the world population and still tends to be in a Startup Phase. But this startup has made billionaires across the globe who are now CEO’s, Investors, Whales, Sharks, Fishes and what not!
Do you know what is the main reason why people don’t know about it?
More than 7.7 Billion population on earth and only 32 Million People on average have crypto wallets of which 7 Million are active users. This is close to 1% of World’s Population that believe in the Technology. They are first 1% users of Cryptocurrency taking bulls by the horns, being ambassadors and well wishers who believe Decentralization is the future.
This is too early to say anything!
People are already making success stories around it, like the Pizza Bitcoin Story we know Bitcoin for.
One such incident happened with me and I am excited to share this story.
On May 1st, 2019, someone transferred 40,000 Bitcoins, worth $212,313,000. They paid $3.94 in transaction fees.
On May 1st, 2019, I withdrew $150 dollars from an ATM. My bank charged me a $10 fee for using an ATM that wasn’t theirs. The ATM charged me another $4 transaction fee. Old System: $14 in fees for a $100 transaction New System: $3.94 in fees for a $212,313,000 transaction.
When Bitcoin exploded in 2017, it gave hope to millions. To see it as an investment avenue, it probably caused people to buy this new currency.
The number of bitcoin users globally is still rather small, compared to users of other payment systems such as Paypal or credit cards. While active bitcoin users are estimated at 5.8 million, PayPal boasts 235 million active users, Mastercard has 35.7 million American users and another 604 million active international users, and Visa accounts for a whopping 336 million American users and another 736 million users globally.
What We Know
What we know, is that bitcoin’s popularity is expanding around the globe, meaning that this digital currency is likely here to stay.
Everything that is future, takes time for mass adoption. Governments, Banks and Private Companies are all working on Blockchain Technology and Cryptocurrency to base the future.
5 years down the line, we could say that “Crypto is for all, forever and ever”