I know everyone will be posting about this but this is a huge deal so I'm joining in on the fun. In 2021 Paypal will allow users to send and store cryptocurrencies! This includes Bitcoin and Ethereum. If you were looking for a mainstream entry into the world of crypto this is it. Paypal has become the norm for online payments and now the norm is takes and holds crypto. This will lead to some pretty major waves in the neat future and the news already has Bitcoin close to 13k. On a side note now that we passed that 12k number things are looking pretty strong for the market over the next couple of months, let's hope it holds.
Ethereum And Bitcoin Are Cool Again
No longer do you have to keep your investments to yourself as you were right to buy and sit on your coins in 2018/2019. Well it's too early to say that but it is looking positive. Now that Bitcoin and ethereum will be on Paypal you can saw you were an early innovator instead of someone who blew their money on magic internet money :p. I mentioned this before that more and more big names are talking about Bitcoin and how it seems to be a way on Twitter to get more exposure. The paypal announcement takes this one further as anyone who uses the service can see that these coins have real value and you are not just collecting digital tulips.
Good For The Entire Market
This is great for Bitcoin and Ethereum but also the entire market. The good thing is Ethereum is also accepted so you already have the nod to alt coins and the rest of the market. But even without it, as Bitcoin goes up it tends to raise the other coins. And the more that is goes up the more it can really pump small call coins. It is just a matter of math. People who hold Bitcoin and Ethereum already know how to use cryptocurrency so they know how to trade it for other coins. When a coin is worth a lot of money and some of that money flows to a coin will a low supply it can cause that coin to 2x,3x, 5x in days. This is great for Leo, especially since people can swap Ethereum for it as it has such a low supply any cash flow becomes rocket fuel.
Solves The Problem Of Ease Of Use
A lot of people do not know how to manage their wallets or their keys. I do agree that people should learn and hopefully they will but when it comes to the masses a lot of people just want to use an email address and send or make money. Paypal is know that option as they can attach it to a bank account and send coins or use their account to pay people in Ethereum for a job well done. Maybe I should get an account for freelance...
No matter what angle you look at this is a big win for the crypto industry and it looks like it is time that we start to really see mainstream attention. 2017 was an exciting year with a crazy run but the world and the dapps were not ready to bring in a lot of users. I do not know if 2021 will be the year that everyone is ready but it is starting to look that way. Dapps are becoming easier and being able to use crypto is something that anyone can into.
We will see where this goes but I'm pumped.
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that great news that PayPal will allow bitcoin eth payment now we don't have to use a third party to exchange money
I posted as well, with a slightly different approach, as usual I am the conspirator of the chain... but I don't feel like not owning the keys, and letting PayPal do that, is what I'd call mass adoption for crypto.
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I agree with you that its a win for crypto.
If you're buying crypto off PayPal, then you're not doing it to escape the fiat world so don't give a shit about your private keys.
It's the perfect introduction for the millions (yes, millions!) of potential new users who now have the ability to buy or send bitcoin with the press of a button.
Great news!
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