Crypto

PayPal Announce Plans to Allow Users to Buy and Sell Cryptocurrency

Published

2 years ago

May 20, 2022

PayPal Announce Plans to Allow Users to Buy and Sell Cryptocurrency

Whether or not it’s shopping for merchandise, paying for companies or sending and receiving cash, many people use PayPal and its peer-to-peer fee service, Venmo, each single day. With the corporate’s current announcement that U.S. Venmo and PayPal customers can now use the platform to purchase, promote, maintain and pay with cryptocurrencies, nonetheless, PayPal is ready to change into much more widespread and is more likely to characteristic extra ceaselessly in our on a regular basis lives. So, what do these bulletins actually imply, and the way will they alter the best way we spend our money on-line? Right here we provide you with a roundup of how these cryptocurrency companies will form the best way you store.

Shopping for and Promoting Cryptocurrency on Venmo

In New Jersey in current weeks, a cryptocurrency rip-off has made the headlines, with a neighborhood Instagram influencer reportedly deceiving individuals into sending him 1000’s of {dollars} value of Bitcoin. But, for each native and nationwide shoppers, PayPal and Venmo’s transfer to permit customers to purchase and promote cryptocurrency on the platforms will solely be a optimistic factor. PayPal is already utilized by many to deposit cash into on-line playing accounts. We will see that many giant iGaming platforms are diversifying their fee strategies, akin to PlayOJO On line casino, who settle for ApplePay, and extra…

Prospects typically favour PayPal for his or her deposits, alongside e-wallets like Neteller and Skrill. With the introduction of cryptocurrency to its platform, customers won’t solely be capable to use PayPal and Venmo to deposit cash and pay for different items and companies, akin to streaming accounts, however may also be capable to purchase Ethereum, Bitcoin, Litecoin and Bitcoin Money.

PayPal’s New Cryptocurrency Checkout Service

PayPal’s cryptocurrency checkout service, nonetheless, is what is going to severely change the best way we store for bodily items like garments and books, and it might even alter the best way we pay for streaming companies like Netflix and put funds into our on-line playing accounts. As this web site explains, this won’t solely make the U.S. financial system extra inclusive to these on decrease incomes, however would enable shoppers to make use of their cryptocurrency – be it Bitcoin Money, Litecoin, Bitcoin or Ethereum – to make purchases at on-line checkouts throughout the globe. In case you’re questioning whether or not shopping for, promoting, or holding cryptocurrencies by way of your PayPal account could be worthwhile, you’ll be able to learn right here to search out out extra in regards to the forex’s advantages.

PayPal’s cryptocurrency checkout service, together with its announcement that customers should buy, promote and maintain cryptocurrency, will enable us to spend our digital money in quite a lot of new methods. From depositing cash into on-line on line casino accounts to ordering takeout, paying for espresso and sending money to associates, our digital wallets and the cryptocurrency inside them are set to play a better position in the best way we store. Cryptocurrency’s rise in reputation might additionally result in better monetary equality within the U.S. and will increase struggling companies throughout the nation.

Crypto

Ripple CTO Clarifies Major Misconceptions Surrounding XRP

Published

3 hours ago

June 9, 2024

Press Room

Ripple CTO Clarifies Major Misconceptions Surrounding XRP

A recent rumor circulating within the XRP community suggested that Ripple, the company behind the XRP token, might be planning to abandon it. This speculation stemmed from an X user, Aspen Signals, who highlighted a quote featured on Ripple CTO, David Schwartz’s social media profile.

The quote alluded to a fictional financial startup’s struggle against challenges within the payments industry. Some community members misinterpreted this as a potential reflection of Ripple’s current situation with XRP.

Read Also: Using XRP, Ripple Aims To Conquer Cross-Border Payment Sector Projected To Hit $300T by 2030

Addressing the Rumors: XRP Remains a Core Focus

Swiftly dispelling the rumors, David Schwartz clarified that the quote was not based on real events. It was solely a fictional scenario intended as a movie pitch. While the themes explored in the quote may hold some relevance to the broader challenges faced by fintech startups, Schwartz emphasized that the specific circumstances depicted do not represent Ripple’s current operations.

In light of Ripple’s upcoming stablecoin, Schwartz’s prompt action to address this speculation is particularly significant. Some within the cryptocurrency community had expressed concerns that the stablecoin might replace XRP, particularly for Ripple’s On-Demand Liquidity (ODL) service, formerly known as xRapid. Additionally, Ripple’s exclusion of XRP from its Liquidity Hub solution further fueled speculation about a potential shift away from the token.

However, Ripple has consistently maintained its commitment to XRP. Ripple CEO Brad Garlinghouse has publicly stated that the company has no intention of abandoning XRP. Instead, Ripple views XRP as a critical component of its overall strategy for facilitating faster and more cost-effective international payments.

XRP’s Role in Ripple Ecosystem

XRP functions as the native digital asset of the XRP Ledger, a blockchain specifically designed for financial transactions. The XRP Ledger offers several advantages over traditional payment methods, including faster settlement times and lower transaction fees. By leveraging XRP, financial institutions can streamline cross-border payments, improving efficiency and reducing costs.

Ripple’s ODL service further strengthens XRP’s position within the ecosystem. ODL utilizes XRP to provide on-demand liquidity for cross-border transactions. When a financial institution initiates a payment through ODL, XRP is used as a bridge currency to facilitate the exchange between two fiat currencies. This process eliminates the need for pre-funding correspondent accounts, which can be a bottleneck in traditional international payments.

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Read Also: Ripple CTO Reveals His Millions of XRP Holdings and Investment Strategy

While speculation regarding Ripple’s commitment to XRP has surfaced, the company has consistently reaffirmed its support for the token. XRP remains a core component of Ripple’s technology and plays a crucial role in facilitating faster and more efficient cross-border payments. With its unique capabilities and Ripple’s ongoing efforts, XRP holds promise for continued growth and adoption within the global financial landscape.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Times Tabloid is not responsible for any financial losses.

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Crypto

This Week In Crypto: 50 Cent's Bitcoin Bonanza, Cathie Wood's Prediction, Kitty-Themed Crypto Surge, And More

Published

10 hours ago

June 9, 2024

Press Room

This Week In Crypto: 50 Cent's Bitcoin Bonanza, Cathie Wood's Prediction, Kitty-Themed Crypto Surge, And More

This week was a rollercoaster ride in the world of finance and cryptocurrency. From 50 Cent‘s Bitcoin BTC/USD earnings to Ark Invest’s Cathie Wood’s prediction about King Crypto, and Roaring Kitty’s YouTube live stream resulting in a surge in a cat-themed cryptocurrency, there was no shortage of action. Here’s a quick recap of the top stories that made headlines.

50 Cent’s Bitcoin Vision Pays Off

Grammy Award-winning rapper 50 Cent, also known as Curtis Jackson, made a groundbreaking move a decade ago by accepting Bitcoin as payment for his album “Animal Ambition”. Fast forward to today, and his decision has paid off handsomely, making him a multi-millionaire. Jackson reportedly amassed 700 Bitcoins from the album sales, which at the time were worth around $460,000.

Read the full article here.

Cathie Wood’s Bitcoin Prediction

Renowned investor ARK Invest’s Wood has made a daring prediction about the future value of Bitcoin. According to Wood, if corporations continue to diversify their balance sheets into Bitcoin, the digital currency could reach a staggering $500,000. This would mean that an investment of just $100 in Bitcoin today could be worth as much as $200,000 if Wood’s prediction comes true.

Read the full article here.

Kitty-Themed Crypto Rides the Roaring Kitty Wave

In anticipation of Roaring Kitty’s YouTube livestream, Kitty AI, a cat-themed cryptocurrency, saw a significant surge. The Solana SOL/USD-based memecoin moved 65% higher with trading volume more than doubling to $8.73 million in the last 24 hours as of late Thursday.

Read the full article here.

Roaring Kitty Stream Triggers Crypto Sell-Off

The cryptocurrency markets ended the week on a sour note, with Bitcoin, Ethereum ETH/USD, and Dogecoin DOGE/USD experiencing a strong sell-off following the end of the Roaring Kitty live stream.

Read the full article here.

Shiba Inu Burn Rate Skyrockets

Shiba Inu SHIB/USD, often referred to as the “Dogecoin Killer,” saw a significant spike in its burn rate over 24 hours on Monday. This led traders to be bullish about its upcoming price momentum, with some predicting the price potentially doubling or even tripling.

Read the full article here.

Read Next: Bitcoin, Ethereum, Dogecoin Rise On Weakening Labor Market Indicator: Analyst Says He Will Dish Out Cash For Retweets If King Crypto Doesn’t Hit $95K By This Time

Photo courtesy: Shutterstock

This story was generated using Benzinga Neuro and edited by Anan Ashraf.

Crypto

Analyst Predicts Bitcoin To Reach Groundbreaking $100,000 Milestone

Published

17 hours ago

June 9, 2024

Press Room

Analyst Predicts Bitcoin To Reach Groundbreaking $100,000 Milestone

Bitcoin BTC/USD is nearing a significant technical breakout, potentially reaching a milestone of $100,000, according to an analyst.

What Happened: Bitcoin is on the cusp of a significant technical breakout if it surpasses its previous peak of about $73,800.

Technical analyst JC Parets of AllStarCharts noted that maintaining levels above $70,000 increases the likelihood of Bitcoin reaching $100,000.

“The idea was we [Bitcoin] were gonna get to $47,000, take a break, get to $70,000, take a break, and then ultimately breakout to a $100,000,” Parets said on a “Trends with Friends” podcast last month.

Parets highlighted that Bitcoin has followed this pattern so far.

“We got to $47,000, we took a break. We broke out, got to $70,000, we’re taking a break. Like this is perfectly normal,” he added.

A $100,000 target represents a 40% potential upside from current levels.

Also Read: Crypto Analyst Foresees Upswing In Bitcoin’s Value Before Major Plunge

The cryptocurrency has rebounded significantly over the past year, recovering from a severe bear market in 2022. Bitcoin is now forming a “cup and handle” pattern, a bullish technical formation. If this pattern materializes, Bitcoin could potentially reach a measured move price target of about $130,000.

Why It Matters: The potential breakout comes after a period of significant volatility for Bitcoin. In late May, pseudonymous trader and crypto analyst Rekt Capital provided insights into Bitcoin’s status and future prospects. Rekt Capital noted that Bitcoin was no longer in the “danger zone” but warned of a possible 13% dip from its current value.

Rekt Capital explained that Bitcoin typically enters the “danger zone” after a halving event, which reduces miners’ rewards. Despite these concerns, Bitcoin has shown resilience and has been on an upward trajectory, indicating strong market confidence.

As Bitcoin approaches the $100,000 mark, it is essential to consider the broader context of its recent performance and the technical patterns that have emerged. Investors and analysts will be closely watching to see if Bitcoin can sustain its momentum and achieve this significant milestone.

Now Read: Crypto Analyst Forecasts Monumental Bitcoin Rally By 2026

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo: Shutterstock