Bitcoin briefly topped PayPal’s market cap, while still lagging far behind in use.
PayPal, one of the global leading payments services outside of the banking industry, maintains a market capitalization of $71 billion. Earlier this week, Bitcoin, on an impressive growth spurt after the chain split at the beginning of the month, passed PayPal briefly, topping out at over $73 billion. Since then the price has experienced a correction, sitting near $68 billion at present.
PayPal maintains a significant advantage in everyday use
Fees between the two are more difficult to compare, but in many ways PayPal still comes out on top, with many free domestic peer-to-peer payments and user-end purchases. Bitcoin, meanwhile, has a present average transaction fee of over $4, with a median fee of $2.38. For comparison, when sending money as a personal payment using a credit card via PayPal, a $100 payment would cost about $3.20 to send.
Dash Evolution aims to top PayPal’s experience
In an effort to out-compete traditional payment systems, as well as other cryptocurrencies, Dash has the most competitive fees in the field at present, with plans to lower them even further this year. The upcoming Evolution update will further expand on the mission to become a superior payment system, offering a sleek and user-friendly interface at the protocol level, as well as a solid scaling plan to grow past 5,000 transactions per second, rivaling levels of major card companies such as VISA or Mastercard. The initial stages of Evolution are set for late 2017 release, with wide market release early summer of 2018.