🔥 Paypal will support crypto!
Hello!
In case you live under a rock and you haven't found out, the digital payments giant Paypal will allow you to buy, sell and pay with cryptocurrencies.
This is the kind of news we've been waiting for, Bitcoin is up around 7% today. It seems that the market has taken this news well. What I like the most is that Ethereum is following the Bitcoin, and some other alts are joining the party.
According to their press release, you can read it here, the service will be available shortly.
PayPal has also been granted a first-of-its-kind conditional Bitlicense by the New York State Department of Financial Services (NYDFS).
From their twitter account, they annouced the following:
Today, we are announcing the launch of a new service that will enable customers to buy, hold and sell #Cryptocurrency directly from their PayPal account.
What cryptocurencies will they support?
In the beggining they will support just 4 cryptocurrencies:
- Bitcoin
- Bitcoin cash
- Ethereum
- Litecoin
What is the best part of this announcement?
The best part is that Paypal is one of the most used payment methods online. The company has 346 million active accounts around the world and processed $222 billion in payments in the second quarter (according to Reuters).
Do you know what 346 million accounts mean?
Shit, this is almost 3 times the number of Bitcoin wallets! 🔥
To put things in perspective. I looked at Glassnode and found that there are 700 million Bitcoin wallets. but if we take a look at the Non-zero-balance wallets...
There are just 30 million wallets!
Paypal have 10 times more users that non-zero-balance wallets! Amazing potential.
What is the worst part?
The worst part is that Paypal will not allow to send cryptocurrencies, just buy, hold and pay.
Another thing that Paypal will not do is to share the wallet keys, they will act as a custodian of the funds. It is not the true spirit of cryptocurrency, but every little step counts!
Enjoy! 😊
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https://twitter.com/ResilienciaHODL/status/1318976677788209154
Agree, it is disappointing but at least it is a good new.
They're doing the banks play Eddie. That's not made for people, it's done to gradually introduce digital currencies as forms of payment, not BTC, and ditch cash. Same as what happened with gold. They took the gold we got the banknotes, it's the same old game. Why do financial institutions rush to buy BTC? To get the gold... and we'll be left with numbers on a screen by PayPal and others, same old same old.
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Let's ensure we have enough gold in our wallet then
Slowly they are coming... Bitcoin is here to stay! 🔥🔥
I hope everything is ok Eddie!
Tinc el nen amb febre...a veure demà
Espero que no sigui res! Creuem els dits! 🤞
What a funny coincidence :))
That's how your first phrase of the post sounds like:
That's mine:
I swear I haven't read your post before writing mine. This universe continues to amaze me.
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Wow! What a nice coincidence! 😂
Do you think we will see a correction from this levels or we are straight to 14k?
I really have no clue, but it's already $13k. By the way we did catch the faling knife with ORN. I bought just a few hours after you did. No worries though. @empoderat has proven to be finding quite interesting gems so it's golden times ahead of us.
Don't trust me blindly btw, but yes, I have high expectations regarding ORN & AVA
However, real gains won't be seen (theoretically) until next year. That's when we get lambos, gf, houses and all that stuff
I'm not selling anything this year anyway...😁
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Good boy :)
I'll be probably only selling HIVE... as it's been a stressing ride lately.
I've been doing that for months. Will power up whatever I earn for a few weeks and than power down again... Cryptos that I can always earn and are inflationary I won't bother to hold. ORN is doing pretty good by the way.
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I think I can wait one more year easily 😎