Where will PayPal push Bitcoin and cryptocurrencies?
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Where will PayPal push Bitcoin and cryptocurrencies?

A few days ago, one of the world's largest online payment companies, PayPal, announced its upcoming cryptocurrencies support, which has been talked about for a long time. It immediately triggered a wave of comments speculating about the benefits for the entire market. But one thing is certain! Practically the only possible interest behind any decision of such a huge company is - profit!

This suggests that PayPal evaluated the pros and cons of cryptocurrencies and the entire crypto sector very well. They have joined many professionals and other large companies which see the huge potential of these technologies and do not want to miss the "wave" on which they can earn. In addition, they will keep pace with the time full of digitization and expansion of the online environment, which is also supported by the current situation around the COVID infection, which is pushing the whole world to online at an extremely fast pace.

It is clear what this decision will bring to PayPal itself, but let's look at how PayPal can help cryptocurrencies. One of the biggest and often inflected problems of cryptocurrencies is their adoption into everyday life. For ordinary users, this sector is still too unfamiliar and complicated. A common argument against cryptocurrencies is also that they can rarely be used as payment for goods and services. According to its latest report, released in the second quarter of this year, PayPal has more than 346 million users worldwide and a huge number of stores that use this platform as one of the payment options. Thus, the entry of this company will bring, in addition to the mass of users, also a well-known platform and space for payments with cryptocurrencies in a number of online stores.

According to analysts, the price of the most famous cryptocurrency - Bitcoin, which rose by 10% in a few days, reacted immediately to this statement. Based on this information, you can imagine where the prices of individual cryptocurrencies can climb after the implementation of the mentioned solutions and where it will move the whole cryptocurrency sector together with the companies that deal with it. The implementation of these solutions is planned for the end of 2020 and from our point of view, it is probably the most positive news for cryptocurrencies in the last period.


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