YoBitcoin
  • Cryptocurrency
    • Cryptocurrency News
    • Cryptocurrency Exchanges
  • Bitcoin & Co
  • Yobit
No Result
View All Result
  • Cryptocurrency
    • Cryptocurrency News
    • Cryptocurrency Exchanges
  • Bitcoin & Co
  • Yobit
No Result
View All Result
YoBitcoin
No Result
View All Result
Home Cryptocurrency News

PayPal Brings Crypto to the Masses

Timo by Timo
December 15, 2020
in Cryptocurrency News
0
PayPal Brings Crypto to the Masses
89
SHARES
470
VIEWS
Share on FacebookShare on Twitter


Last month, PayPal announced that its users would be able to buy, sell, and hold four prominent cryptocurrencies – Bitcoin, Ethereum, Bitcoin Cash, and Litecoin – via Paypal.com. Through its website, users will be able to buy and manage their cryptocurrency in one place.

Globally cryptocurrency has quickly been growing in popularity as an alternative form of currency since its inception in 2009. Cryptocurrency, as the name implies, is a digital form of currency that is meant to take the place of, and function as, a real form of currency. Unlike traditional forms of currency, nothing physical exchanges hands, and its value is not backed by a bank in the same way most modern currencies are. Instead, users hold their “currency” in digital wallets and make all their transactions digitally, with the vast majority of cryptocurrency being backed by their communities.

The “currency” in cryptocurrency, usually referred to as tokens, is a unique string of numbers and letters that is tied to the specific cryptocurrency being used. While in a traditional transaction users would exchange money, cryptocurrency users exchange tokens. When users trade tokens, the transaction is sent to a continuously growing list of transactions called a blockchain. The transactions added to the blockchain are then verified by users through a process called mining. Users’ work for mining does not go unrewarded and the “miners” are rewarded in tokens for each successful transaction that they verify.

click to enlarge
Buying is as simple as a few button clicks.

  • Buying is as simple as a few button clicks.

Due to the various steps and knowledge needed to jump into the cryptocurrency world crypto had long been pursued by few. As the popularity of cryptocurrency began to grow in early 2018 websites began popping up advertising easy ways to buy and sell crypto but PayPal is one of the largest and most recognizable names to join the cryptocurrency wave.

I tested out PayPal’s new crypto service, throwing in $10 for the opportunity to play around with buying and selling. For someone that has never bought cryptocurrency, the entire process was quick and easy. Within minutes I was the proud owner of $10 worth of Bitcoin and Ethereum.


click to enlarge
The Crypto screen gives an accurate representation of the market trends for PayPal crypto partners.

  • The Crypto screen gives an accurate representation of the market trends for PayPal crypto partners.

After setting up my account, I was presented with a screen showing my present balance, as well as guides explaining the ins and outs of crypto. For someone less familiar with the technical aspects, the guides were helpful and gave me a better understanding of where my $10 had gone. They also assured me that the prices would rise and fall naturally depending on the current exchange rate of my specific currency.

The move to PayPal has made breaking into the cryptocurrency sphere a reality for the average person. It’s cool and an easy process, and PayPal recommends investing just a dollar to play around with it before making more rash decisions. Though it may not be the most feasible way to diversify your assets, PayPal’s expansion into the crypto market is a great way for the average person to jump into the world of cryptocurrency.



Source link

Previous Post

DBS Bank cryptocurrency exchange about to be launched | Crypto

Next Post

Why is Bitcoin the Most Trusted Cryptocurrency? - Read to Know | Info4u

Next Post
Why is Bitcoin the Most Trusted Cryptocurrency? – Read to Know | Info4u

Why is Bitcoin the Most Trusted Cryptocurrency? - Read to Know | Info4u

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Tezos Staking Reaches A New ATH at Over 80%; Top 5 Exchanges Holding 18% of XTZ Supply

Tezos Staking Reaches A New ATH at Over 80%; Top 5 Exchanges Holding 18% of XTZ Supply

May 23, 2020
Ethereum now has twice as many wBTC as the Lightning Network

Ethereum now has twice as many wBTC as the Lightning Network

May 16, 2020
How to Buy District0x (DNT) Right Now • Benzinga

How to Buy District0x (DNT) Right Now • Benzinga

March 4, 2021
Cryptocurrency Stock News: Hut 8 (TSX: HUT) (OTCQX: HUTMF) Reports First Quarter 2020 Financial Results

Cryptocurrency Stock News: Hut 8 (TSX: HUT) (OTCQX: HUTMF) Reports First Quarter 2020 Financial Results

May 12, 2020
No way around it: the irreparable damage cryptocurrency does to the environment

No way around it: the irreparable damage cryptocurrency does to the environment

May 12, 2020
SEC Orders ICO Startup to Return $25.5M to Investors

SEC Orders ICO Startup to Return $25.5M to Investors

June 9, 2020
What does the landscape look like post-halving?

What does the landscape look like post-halving?

May 12, 2020

FireEye Closes $400M Blackstone Investment

December 15, 2020

Ethereum Expected to Gain Further Strength as Price Taps $400

November 2, 2020

Mars rover landing live: Follow Nasa Perseverance as it lands on red planet

February 18, 2021

Dogecoin could eventually hit $1

March 18, 2021

Why is Bitcoin the Most Trusted Cryptocurrency? – Read to Know | Info4u

December 15, 2020

Here are the Top 5 Cryptocurrencies This Week

December 15, 2020

The attempted come back of CoinEx, China’s forked-Bitcoin exchange

May 26, 2020

There’s a Bitcoin Hidden Inside This Piece of “Programmable” Art

November 21, 2020

There is a lack of a business case for CBDC – ECB’s Mersch

May 12, 2020

How to buy Cryptocurrency?

If you want to start investing in Bitcoin and cryptocurrencies in 2020, you will first be faced with the big question: Where do I buy Bitcoin? First of all, it is important to distinguish between crypto exchanges and crypto brokers. Both are trading platforms where you can invest in cryptocurrencies.

Recent News

House edge: UK Gambling Commission issues another fine over money laundering failures

House edge: UK Gambling Commission issues another fine over money laundering failures

March 18, 2021
Dogecoin could eventually hit $1

Dogecoin could eventually hit $1

March 18, 2021

Categories

  • Bitcoin & Co
  • Cryptocurrency
  • Cryptocurrency Exchanges
  • Cryptocurrency News
  • Yobit
No Result
View All Result

No Result
View All Result
  • Home