Cryptocurrency is hot in the 21stcentury. Everybody talks about cryptocurrency. They are trying to determine if it is a good option for investing. The best part about the current developments is that they are getting more and more popular. In the last ten years, there have been many major developments on the crypto market. Many small investors are beginning to notice cryptocurrency as a viable investment option. Some recent developments have helped cryptocurrency gain much acceptance and make it more clear that crypto is here.
Let’s take an in-depth look at some recent developments in crypto.
- Paypal lets its customers use crypto to make payments.
Paypal announced March 2021 that it had begun allowing US citizens to pay millions in international transactions through its cryptocurrency holdings. Customers who own virtual currencies in their digital wallets are now able to use those assets at checkout.
2. Tesla has begun accepting Bitcoin as a method of payment.
Tesla made headlines when it said it would accept Bitcoin payments. Elon Musk courageously accepted Bitcoins, and other cryptocurrencies, in spite of the high volatility and associated solvency threats. Tesla will have the Bitcoin as payment.
Tesla invested $1.5 billion to Bitcoin to boost its cash return at the Securities and Exchange Commission. Elon Musk, a familiar face in business, is well-known. His acceptance and embrace towards cryptocurrency have certainly added new dimensions to the way people view cryptocurrency.
3. A Visa will allow for the use and purchase of cryptocurrency USD coin.
Visa announced in March 2021 the acceptance of cryptocurrency USD coin as a means to settle transactions through its payment network. It will become a stable cryptocurrency whose price will be directly tied to US dollars. As part of an experimental program the payments network will also work with Anchorage – a digital-asset banking bank – and Crypto.com.
4. Launched the first Bitcoin Exchange-Traded Fund.
The world’s largest Bitcoin Exchange Traded Fund, (ETF), in North America, was approved on February 18, 2020. It was officially launched on February 18, 2121. Purpose Investments in Canada is the owner of the Exchange Traded Fund.
These were only a few updates to cryptocurrency. They were not enough to convey that cryptocurrency is poised to boom in the years ahead and is looking bright.
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