The news last Wednesday hits like a bomb in the crypto industry.
PayPal Holdings, Inc. announced the launch of a new service enabling its customers to buy, hold, and sell cryptocurrency directly from their PayPal account. The California-based company processed payments of $222 billion in the second quarter and counts 346 million accounts. This news pushed Bitcoin and other altcoin prices higher Wednesday, with Bitcoin increasing as much as 8% intraday and up to $12,900 at some points. Even crypto-insider Mike Novogratz can hardly hide his enthusiasm about it:
“This PayPal news is the biggest news of the year in crypto. All banks will now be on a race to service crypto. We have crossed the rubicon people. Exiting day.”
Building Understanding and Adoption
To increase consumer understanding and adoption of cryptocurrency, the company is introducing in the next view weeks the ability to buy, hold and sell select cryptocurrencies, initially featuring Bitcoin, Ethereum, Bitcoin Cash, and Litecoin, directly within the PayPal digital wallet. Currently, the service is offered to U.S. account holders only via the PayPal platform, with expansion into international markets and its payments app, Venmo subsidiary slated for early 2021.
Why PayPal boosts bitcci.
It can be assumed that PayPal will promote its crypto-based services internationally with great effort from the start. This will motivate many people to use digital currencies themselves and inspire them to explore the advantages of the new technology. bitcci is a blockchain company that tokenizes the sex industry and profits greatly from this new development. A broad acceptance of the new technology brings more confidence to the population in the handling of digital currencies, the new token economy, and security tokens as an investment. As a result, more trade will develop on Exchanges, and transaction prices will fall in the long run. More service providers, new solutions, new business ideas & start-ups will emerge. Blockchain technology will be further developed, transactions will become faster and more secure. Educational institutions will offer blockchain-based training, thus creating high-quality know-how on the job market. Besides, the development will result in faster regulation on an international scale, which will mean more planning security for all parties involved.
Therefore, the entire bitcci team is very happy about the decision of PayPal, and we are excited about further development.