You've probably seen us celebrating Bitcoin Pizza Day this week with BinancePizza But how did a purchase of two pizzas become a significant event in crypto? Get all the answers here 👇
When we look back to May 22, 2010, there's more to the fateful day than just pizza. In the years since then, Bitcoin Pizza Day has offered a festive way to celebrate the first crypto transaction for a real-world product. Undoubtedly, it makes for great headlines and themed celebrations, but we also have a more profound message to unpack.
However, this staggering figure often steals the limelight in the story. We can all imagine the feeling and sympathize with the potential loss, but we must remember that this was a monumental day for crypto payments. Laszlo's aim of "getting food delivered in exchange for bitcoins" was the first step in a long path that now sees merchants and payment providers accepting crypto worldwide.
New protocols and blockchains allow faster transaction speeds and improved scalability to handle thousands of transactions per second. This enables larger projects, such as global payment networks, to be built on the blockchain. Bitcoin has always had difficulties competing with the transaction speeds of major card providers. But now, the gap is smaller with the likes of the Lightning Network and newer blockchains.
Millions of people worldwide use a credit or debit card for daily purchases. It's something we're all likely familiar with. So, in 2020, we took the concept and added crypto to the mix. Since its launch, Binance Pay's user numbers have steadily increased. Within two years, approximately 30 million users have registered for Binance Pay, with over $79 billion processed in pay volumes to date. More than 10,000 merchant partners, from pharmacies to mobile data providers, have been onboarded to accept our crypto payment solution.We sincerely hope that Binance Card and Binance Pay will continue to play a vital role in the expansion of digital crypto payments worldwide.
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