Both are free to set up and easy to use and, while there are some similarities-Venmo was acquired by PayPal in 2013-their differences outweigh their similarities. "It would unlock a portion of the cryptocurrency investor base who were never interested until they had that functionality," Barrett said.PayPal and Venmo are two of the most popular payment platforms. A streamlined system for buying, selling, storing and lending cryptocurrency could interest more people and keep them using the services instead of looking elsewhere for flexibility, says Corey Barrett, an analyst with M Science. To really interest users in cryptocurrency, payment apps will need to introduce wallets and exchanges, analysts say. With little data on how many transactions are taking place on these apps, though, it's unclear whether that's happening. If the features encourage a significant number of new cryptocurrency buyers, the increased demand could drive up crypto's value. Giving people simpler tools for buying and selling cryptocurrency has the potential to drive interest in Bitcoin, Ether and the like, analysts say. "You kind of just have to go down the rabbit hole yourself," Slotkin said. The best way to learn is by finding forums and online communities on Twitter and Discord, and trying out some small transactions on exchanges. But he added that most people won't really learn much about crypto if they stay on one app. Debit cards backed by cryptocurrency are available through companies including Coinbase and BitPay.Īthan Slotkin, an entrepreneur and business consultant, thinks the features are great if they attract new investors to cryptocurrency. , can also dispense Bitcoin through a partnership with Coinme. Coinstar machines, which let customers turn spare change into gift cards at retailers like ATMs handling cryptocurrency have popped up around the world, though they tend to charge hefty fees. El Salvador embraced Bitcoin as a national currency, though its adoption has been bumpy.īitcoin and other cryptocurrencies are now widely available at trading websites and through stock trading apps like Robinhood. Facebook is trying to launch a cryptocurrency, Diem, along with a consortium of partners. , Delta and DoorDash gift cards with Bitcoin. The currency is accepted as payment by AT&T and the Dallas Mavericks, and you can also purchase On Monday, Green Bay Packers quarterback Aaron Rodgers announced he would take a portion of his salary in Bitcoin through Cash App. Now Bitcoin is trading at around $63,000. Ten years ago, when Bitcoin - the original cryptocurrency - traded at about $15, digital coins were widely seen as the currency of online drug purchases. PayPal and Square, both publicly traded companies, didn't provide comment for this story because they were about to release their quarterly earnings reports, which legally bars them from talking to the media.Ĭryptocurrency has expanded in popularity over the last decade. , another cryptocurrency promoter and the chief executive of Twitter.) , supports only Bitcoin, the biggest and most widely known cryptocurrency. Venmo and its parent PayPal, which was co-founded by crypto enthusiast Elon Musk, offer Bitcoin, Ether and other forms of cryptocurrency. "It's a great training wheels experience," said David Siemer, CEO of Wave Financial, an asset management firm that focuses on cryptocurrency. (A new Bitcoin-linked ETF that started trading last month will also help expand acceptance of digital money, analysts say.) Despite their limitations, the availability of cryptocurrency on payment apps may help the public get comfortable with financial assets that've been cloaked in esoteric math and that are popularly associated with illegal online activities.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |