You oughtn’t to be a bitcoin purist or tech tinkerer to want to accept cryptocurrency without using a third party. With lower merchant fees, greater network uptime, and no chargebacks, noncustodial crypto bills have several benefits over traditional fiat price systems.
In early 2019, E-commerce was responsible for around $3.53 trillion in sales globally, increasing from $2.92 trillion in 2018. By 2022, the expected growth is around $5.69 trillion. This represents an expected growth of 61% over the next three years. The digital marketplace is growing, and the future belongs to the businesses that can stay ahead of the curve.
Will Bitcoin transactions really ‘exceed the Internet’ in 2020?
Onchain analysts Willy Woo has sparked debate with his claim the value of Bitcoin transactions will ‘exceed the internet’ in 2020.
Overnight Woo tweeted that the total value of internet transactions in 2019 was $4.1 trillion, with Bitcoin nipping at its heels with $3.8 trillion:“Bitcoin to exceed the internet in 2020” he wrote, adding: “BTW Bitcoin pertains to investment velocity while the Internet is payment velocity. Quite different, Bitcoin is currently a store of value, so investment is more important.”
Woo’s tweet wasn’t based on his own figures, but on those cited by another Crypto Twitter analyst called CL who sourced the figures from the Statista Digital Market Outlook.
Leszek Forytta, CEO at Wolfs Group, said in the interview for Forbes:
“Investment in new technologies is not only data from Excel”, But he also added “Despite the lack of stability on the domestic and European political scene, but the investment market in technology companies is quite well. This is confirmed, among others, by the results of the Wolfs Group tech fund from the first quarter of 2017 with a 20% increase in the company’s assets”.
Another cross border provider Ferpay (Wolfs became the majority shareholder at the beginning of 2017) is a typical representative of the fintech market: they operate online, the services are user-friendly, fast and at the same time affordable. The company has also announced the launch of an application enabling payments in many currencies, taking into account the needs of frequent travelers as well as those who for many reasons cannot set up standard bank accounts.