high demand
PayPal CEO, Dan Schulman says its clients are signing up
Payments giant, PayPal, says it’s receiving high support for its Crypto service more than it anticipated in its Q3 2020 Earnings Conference Call on Youtube.
What you should know: A few weeks ago, Nairametrics disclosed PayPal’s plan to provide its users the opportunity to buy, hold, and sell cryptos directly from their PayPal account by early next year.
READ: Why Bitcoin might go for $3 million in 2025
It hinted at a strategy to significantly boost its crypto’s utility capability by making it readily available as a funding source for purchases by its 26 million clients globally.
What they are saying: PayPal CEO, Dan Schulman, disclosed its clients are signing up to be the first to use the company’s crypto services at an alarming rate. PayPal has started to permit 10% of its customer base to buy, sell, and hold Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
READ: BTC bounty: 69,000 Bitcoins worth $700 million waiting for you
Schulman said, “We’re going to take up our $10,000 limit per day to $15,000 per day, based on the demand that we’re seeing and we’ll roll out to 100% in the U.S. in the next two to three weeks. We’re beginning to already see some halo effects that go on with that.
“But what I’m really excited about is what we’re going to introduce next year, which is, I think, going to dramatically increase the utility of cryptocurrencies, by enabling somebody who holds a cryptocurrency in a PayPal account to instantaneously transfer that crypto into fiat currency at a step rate. So, volatility is taken out of the equation, with no incremental fees charged for them to do that transaction from crypto into fiat
READ: 200 Bitcoins worth $2.4 million to be won as prize money
“Then immediately settle in fiat with all $28 million of our merchants at our current take rates and so you have no additional integration needed at any of our merchants. This is just an elegant way of using cryptocurrencies as a funding mechanism.”
Schulman gave key insights on why the global payment company was going crypto.
READ: 6 features to look out for in a Cryptocurrency
“The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access, efficiency, speed, and the resilience of the payments system and the ability for governments to disburse funds to citizens quickly,” he adde
Bitcoin on steroids, demand high amid COVID-19
Recent data reveals Bitcoin $BTC Miner Revenue (1d MA) just reached a 5-month high of $716,165.65.
Bitcoin is on a blue flame scenario, as investors increase their buying pressure at an alarming rate, amid odds anticipating for more quantitive easing if Joe Biden gets inaugurated in January.
What you should know
- Bitcoin, at the time this report was drafted, traded at $14,497.87 with a daily trading volume of $26,377,618,150.
- BTC price is up 6.3% in the last 24 hours. It has a circulating supply of 19 Million coins and a max supply of 21 Million coins.
Tyler Winklevoss the Co-founder of Gemini exchange, elaborated on the bullish sign in the flagship crypto market, on the bias that Bitcoin breached $14,000 again and continues to show that it is the only clear winner.
More bullish signs
Meanwhile, Bitcoin miners are presently having more funds at their bank account on data that recently revealed Bitcoin $BTC Miner Revenue (1d MA) just reached a 5-month high of $716,165.65.
The previous 5-month high of $709,664.74 was observed on 04 November 2020. That said,
- It is important to observe that long-time Bitcoin holders are increasingly holding BTC for longer periods, leading to some scarcity; thereby, pushing prices as retail traders rush to own a stake in the most demanded crypto amid the COVID-19 era.
- HODLing activity by global investors has surged since March, when the price of BTC briefly dropped below $4,o00. Since then, investors have been steadil
Vitae: Crypto for social rewards up 65% W/W
VITAE price is up 0.4% in the last 24 hours. It has a circulating supply of 21 million coins and a max supply of 100 million coins
As global investors increase their buying pressure on crypto assets, distinct crypto has been gaining traction at an astronomical rate. Vitae, the crypto known for social rewards is up 65% in the past 7 days, according to data seen from Coingecko.
At the time of drafting this report, Vitae price traded at $6.54 with a daily trading volume of $1,473,269.
VITAE price is up 0.4% in the last 24 hours. It has a circulating supply of 21 million coins and a max supply of 100 Million coins.
What you should know
Created with the objective to change the world, by facilitating a social rewards network for financial prosperity via POS (Proof Of Stake), Master Node, and Super Node.
- The crypto asset tracks the trends of the social media world, while creating its own type of social media structure.
- It should also be noted that this fast-growing crypto had been on the top radar for some weeks, as it’s been leading the top gainers w/w periodical
Launched in 2018 by a team based in Switzerland, Vitae Token is a PivX fork. It utilizes a network of Masternodes/Supernodes for decentralized governance and increased transaction privacy.
- Its motto is growing global prosperity.
- The crypto shares most of its revenue with its
Why Bitcoin might go for $3 million in 2025
People have no idea what it will look like when large banks and countries start holding bitcoin in their treasu
PublishedNovember 5, 2020
Jason Williams, Co-Founder and Partner at Morgan Creek Digital, a digital asset-focused investment fund, recently spoke on why he believed it was just a matter of time, that the world’s most known crypto would hit at least the million-dollar status.“Bitcoin could hit 1–3M dollars in the next 5 years. People have no idea what it will look like when large banks and countries start holding bitcoin in their treasury.“To this, he also added that Bitcoin’s digital scarcity is a key feature in its continued growth across institutional contexts. If you’ve read any of our previous articles on Bitcoin’s value, then you know that we, at NBX, believe that digital scarcity is the crux of Bitcoin’s value, alongside its efficiency as a diversifier, among other factors.“In other words, to pin down Bitcoin’s complete value proposition is a complex undertaking, which is why it’s important to nail down aspects of it that we haven’t mentioned yet.”
What it means
A major factor helping the hedge fund’s manager bias, is that the flagship crypto is a way out into the future. It is scarce and can never be forged by the International Monetary Fund or any single government, meaning it will always be scarce in principle.
Robert Breedlove, the CEO of Parallax digitals, also spoke via Youtube on Bitcoin’s safe-haven asset properties.“Bitcoin is the first social institution in human history with laws that cannot be corrupted. There will never be more than 21 million Bitcoin, only the owner of a private key can move their Bitcoin, and (when properly kept) Bitcoin cannot be forcibly confiscated. Bitcoin is the only money maximally resistant to misappropriation in a world increasingly under siege by overreaching governments.
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