The largest cryptocurrency, bitcoin, is a commodity and not a payment system, according to Visas chief executive. Visa will also not give bitcoin or other cryptocurrencies a platform for wire transfers and exchanges. I don't view it as payment system player, CEO Alfred Kelly told CNBC.
We at Visa won't process transactions that are cryptocurrency-based. We will only process fiat currency-based transactions, he added. Visa is the world's largest credit card company.
Bitcoin was originally created as an alternative de-centralized currency. However, with its 2,000 percent growth last year, it has become a source for speculators to make a quick buck. As bitcoin turnover grows, it faces problems like high fees, astoundingly slow transactions and volatile prices.
https://www.rt.com/businessBitcoin is the largest growing crypto currency ever as from having millions of haters to millions of investors millions has made a tremendous progress in the last past decade, though the journey was never that easy but has faced many obstacles and now is on the top of crypto ranking but still till now it is only available as a type of investment only as payment making through bitcoin is still not allowed but with the past growth of bitcoin and specifically in the last year that was 2000% there are still hopes to bitcoin to get legalised all over the world and then it will replace the available Fiat currencies.