At the launch of the Bitcoin, one of the strong points of this crypto-currency was the possibility of transfer of this currency on a global scale, with little or no fees. This is no longer the case today, as the cost of transfer of Bitcoin can sometimes exceed the costs of transfer PayPal and Western Union.
Companies are now striving to use the Bitcoin as a currency, even if the costs related to their transfer are important.
The companies are opting for the Dash or Litecoin
More and more companies are moving away from Bitcoin because of its cost of transfer is too high. The site Yours Inc. has recently decided to no longer use the Bitcoin as a means of payment. The owner of the platform, Ryan Charles explained that the cost of transferring Bitcoins were too high and they are expected to further increase. He added that this solution was less interesting than a transfer with Paypal or Western Union.
Yours, Inc. is a company offering a service rather special. In effect, it allows writers to receive remuneration according to the number of their readers. But because of the small number of members, they can not afford to pay such fees with the Bitcoins. The company has chosen the Litecoin for payments. The irish company specializing in gift cards Bitcart has also abandoned the Bitcoin and uses the Dash.
Bitcoin is more expensive than its competitors
The cost of sending Bitcoin has increased by nearly 19 times from 13 cents per transaction to 2.40 dollars in only one year. This increase has an impact on the development of emerging markets, where the crypto-currency could make sense as Venezuela and India.
Even in larger countries, we feel this increase. The costs for the use of Bitcoin make it a crypto-currency not very appreciated by the traders who want to use this technology.