PayPal Costs 30 Times More Than the Blockchain Reduction Fee!

PayPal pays a money transfer fee that is far more expensive than the blockchain reduction fee. An investor compares the cost of international money transfers through the blockchain with PayPal. For example, transferring $100,000 Bitcoin only costs between $5 to $50. The cost of doing the same transaction at PayPal requires at least $1,500.

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While Blockchain technology is far superior to other technologies we have today, there are people who doubt about its superiority. However, international payments are one of the places where blockchain technology has proven useful.

An investor has compared the costs of sending and receiving money. According to this, Bitcoin (BTC) costs $100,000 to trade between $5 to $50. However, if we do the same thing with PayPal, the cost of sending money is at least $1,500. We can also enter delays from the system.

The Blockchain transfer takes place almost instantaneously, which means that the recipient receives funds sent within a few seconds or if the blockchain traffic volume is solid within a few hours.

At PayPal, there is a central authority, and this authority can choose to save funds sent for several days, for whatever reason or other reasons. Funds can also be delayed for several days, even in the usual procedure.

Ripple (XRP) is the main blockchain project that solves this scheme in the area of money transfers. The company has very low wages, and indeed builds an efficient and inexpensive system of remittances outside the limits. These payments are immediate and there is no central authority to censor money transfers.

Because of this, Blockchain technology gives users freedom and saves time and money. At present, Ripple is in a race close to SWIFT. If we renew the SWIFT system, just waiting for the time to be stopped by Ripple (XRP).

Sending money with Bitcoin (BTC) is not the cheapest and fastest in the cryptocurrency market. However, the transfer volume of Bitcoin money has exceeded several times the amount of PayPal. This means that crypto coins in the payment area will have a vote in the near future.


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