The Crypto market is down and this is the second month when we are in a kind of the same situation where bitcoin is hovering around 30k and even altcoins are down. Those who are here for the last couple of years are aware that this is not the first time and it keeps on happening from time to time so we need to learn how to deal with it. Long layers believe that this is the time to accumulate and hold till the next cycle and that the next cycle can obviously take long and it can be a few years also. While now is the time to build I think that this is also the time to see what good things are coming to crypto.
I had shared a few updates earlier about the adoption where new brands and even leading companies announced their entry in crypto and this has been going well. It's obvious that more adoption and acceptance of crypto means more power to the community and that is also needed for mass adoption.
There is another good update that PayPal has enabled crypto transfer to external wallets and this is a good decision. As of now, this is available for selected users in the US but soon it will be extended to all the users in the US however it may take a few months. This is one of the features that was most awaited by the PayPal user and a major chunk of users were asking for this. Now after this enablement I am sure that the users who have got the function must be happy.
Allowing only trading of crypto was a limited feature and probably because of this limitation many users were not using PayPal because not everyone trades for the short term and even many people trade to hold and even want to send their holding to another crypto wallet outside the PayPal and now this is possible. Even though there is an exchange in India that follows the same that they allow crypto trade but wallets are not enabled and they don't allow the transfer to an external wallet. I feel this is not right because when we talk about decentralization then the first thing that we get is freedom and there should be no restriction on anything.
I expect that PayPal will also bring many other services like a stake to earn, lending, margin trading, etc in the future, and this way their users will be even happier because PayPal is not just easy to use but quite a safe name. They will have to deal with competition in the market because other exchanges have lots of services and features and to survive in this kind of environment, innovation is surely needed.
Thank you so much
Stay Safe
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People were leery to use Paypal with crypto because Paypal has seized accounts without due process and taken funds from people. So in the US, some people did not want to have a large amount of assets in Paypal's hands. Not your keys, not your crypto!
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Way to go with Paypal. In times like this where users may want to just hold their coins or trade and vice versa, there has to be a wallet which allows for transfer of crypto around.
Like you said, prior to this time, Paypal may have jist defeated the true meaning of the blockchain -decentralization.
Anyway, sadly, Paypal isn't available for my country users so there is nothing much to say yet. But its a good thing!
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As we continue to see signs of adoption in every corner, when does the price catch back up with the adoption.
LOL, the question is rhetorical of course, but the development of use cases is clearly good news.
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Yes its good news for PayPal users and adoption is also increasing.
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Amazing. It will actually be crypto.
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Yes its great for crypto.
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Hopefully this will result in increased adoption!
yes, hopefully it should.
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Things are getting exciting :) It's great that PayPal decided to welcome crypto, it probably saw the market share it could get.
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I expect this will result in bringing more people in crypto since paypal has a big userbase.
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That's right. They will rake in customers who are into crypto.
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Even though the market is bearish, I see the good news still coming out. This Paypal news is good news for the cryptocurrency market. I am convinced that sooner or later this market will recover
It was about time
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You are right
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You need to cite your sources or it looks like you have copy pasted from a news source.
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There is nothing copied on the posts and whenever I pick the content or take photo, mention the source. Sharing a post about any news is not copy. If you go on Google you can see so many posts about it.
How did you learn of the update then? And on google people cite their sources.
Seems like PayPal took "not your keys, not your crypto" to heart. Good decision on their part, takes them from useless gimmick to something the normies can actually use.
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"not your keys, not your crypto" is sure shot to follow in crypto and need to be careful.
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