Crypto-Revolution. With the entry of PayPal we will be able to have mass cryptocurrencies
Finally something is really moving in the world of virtual currencies and is able to really push its diffusion towards the masses. After years of ostracization, Paypal opens up to trading virtual currencies by creating its own wallet in which, at least initially, only Bitcoin, Bitcoin Cash, Ethereum and Litecoin can be held. So not only do we have the end of the war between the exchange and PayPal, but the payment company itself is preparing to become an exchange in which customers can simply exchange virtual currencies and also enter the Fiat currency system.
The service in this first phase will be limited to the United States, but, unlike many other companies in the sector, it will start immediately with the authorization of the NYDFS, the financial regulator of the state of New York, where it is necessary to have a license for trade in virtual currencies.
Paypal is a universally widespread payment system which, according to Statista, has 346 million active accounts worldwide. There is no bank spread globally and non-regionally that can boast these numbers. This move can truly mean the long-awaited, or feared, standardization in the use of cryptocurrencies. If holding them becomes as simple as having a Paypal account, then the audience of possible holders expands to hundreds of millions, and that of the activities that can actually use it for payments, and as many activities can receive them. Furthermore, DeFi, Decentralized Finance becomes a much broader perspective than the current one.
the market, however, will not explode immediately and, above all, it will be necessary to introduce a few more tokens in order to expand it. The choice to leave out XRP is significant, which evidently did not have the characteristics required by Paypal. Meanwhile, BTC touches $ 13,000 in the wake of the news:
The process of accepting virtual currencies, however, will not be short, rather it is a medium-term process, so any current rally in the value of currencies would be speculative, also driven by the abundance of liquidity.
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The Crypto-Revolution article . With the entry of PayPal we will be able to have mass cryptocurrencies coming from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/cripto-rivoluzione-con-lentrata-di-paypal-potremo-avere-le-criptovalute-di-massa/ on Fri, 23 Oct 2020 06:41:51 +0000.