Is crypto mainstream? Why is visa allowing settlement using cryptocurrency? PayPal launched Crypto checkout, what’s the catch?

Many of us have heard the terms crypto, digital currency, blockchain and Bitcoin or bitcoin but, many people wonder what these actually are. Is there a future around them? Is investing your hard earned money in this is a good idea? Are they even legal? And above all, are they even mainstream?

Our goal is to help you understand how the crypto/blockchain world is changing our lives and why the mainstream larger financial firms are adopting digital currencies and whether they see this as an escape from inflation.

The buzz everywhere about Bitcoin has increased by over 874% (USD $55,000) in a year, Tesla is announcing they are open to receive Bitcoin as payment for their cars and now PayPal has recently announced it is accepting crypto currency, merchants who accept PayPal will be receiving fiat currency.

There are many promising digital coins that are gaining attention among  mainstream investors, but Crypto currency is yet to be fully accepted as a widespread form of payment and the reason being; the clarity and understanding the general public has about crypto currency and how it is compared to other physical currencies available is minimal.

After PayPal announced they are accepting crypto currency as payment, the outlook of the general public will change, because, merchants will not experience what is perceived as a volatility risk.

PayPal, one of the largest mainstream financial companies in the world, may contribute significantly towards the acceptance of cryptocurrencies as a form of payment and may help raise virtual coin prices and awareness with the public.  Amazon is also a quiet player in digital currency and security.  With a new CEO taking the reins in a few months coming from the Digital division of the company to head the entire operation.  Amazon registered their coin several years ago, leaving the near future ours to imagine.

Checkout with Crypto by PayPal will enable the PayPal users to buy, sell and hold cryptocurrencies in a PayPal wallet.

On this, Schulman, CEO of PayPal said, “We think it is a transitional point where cryptocurrencies move from being predominantly an asset class that you buy, hold and or sell to now becoming a legitimate funding source to make transactions in the real world at millions of merchants.”

The company will charge no transaction fee to checkout with crypto currency and only one type of coin can be used for each purchase.

Visa Inc. is another big financial firm that expanded their crypto base with a bang yesterday, where earlier, if a customer chose to use a crypto.com Visa card to pay for a coffee, the digital currency held in a cryptocurrency wallet needed to be converted into traditional money, then the cryptocurrency wallet would deposit traditional fiat currency in a bank account, to be wired to Visa at the end of the day to settle any transactions, adding cost and complexity for businesses. But with the new announcement that was made yesterday by Visa, they will be using Ethereum blockchain, and the conversion of digital currency to traditional money to settle the transaction is not needed anymore. 

To this Cuy Sheffield, head of crypto at Visa, said,

"We see increasing demand from consumers across the world to be able to access, hold and use digital currencies and we're seeing demand from our clients to be able to build products that provide that access for consumers.”

Visa also stated that it has partnered with the digital asset bank Anchorage and completed the first transaction this month — with Crypto.com sending USDC to Visa's Ethereum address at Anchorage.Visa Inc. announced yesterday, it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the mainstream financial industry.Visa has launched the pilot program with payment and crypto platform Crypto.com and plans to offer the option to more partners later this year, the company stated.  Those of us who have been in the Blockchain world for some time can recall the days when VISA and Facebook would block any transaction/advertisement involving digital.

**The USD Coin (USDC) is a stablecoin digital currency whose value is pegged directly to the U.S. dollar**

**We have seen many changes in this area and many more will come yet, Bitcoin has predicted a price of $100,000USD by the end of 2021, the future is clearly here today.  Blockchain is the answer to data security.**

To know more about crypto currencies and how and where to invest follow

Crypto Investment Club Corp

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