Over 370 Million USD Remarkably Transferred Using Bitcoin, Transaction Costs Less Than a Dollar

Recently, around fifty thousand Bitcoins were transferred between 2 unidentified BTC wallets. Interestingly, the transaction involved moving three hundred and seventy million USD and the fee incurred was only 63 cents.

For only a matter of cents, the Bitcoin network has once again effectively enabled the transfer of massive amounts. Such a transaction would be unfeasible through any other payments network in existence.

The transfer took place on Friday. It joins many preceding similar instances of massive value transfers for infinitesimal fees on Bitcoin. The aforementioned development perfectly showcases one of BTC’s strongest value propositions and what makes it better than conventional transaction systems.

It is to be noted that digital assets like Bitcoin and others are inexpensive to use as there are no central intermediaries in quest of making profit by facilitating transactions. Nonetheless, transaction fees have been a divisive subject in the cryptosphere. Some even argue that sixty-three cents are still too hefty for many possible use cases of a virtual currency.