It's no more a rumour, Paypal the biggest online payments firm will start giving access to their customers to buy, hold and trade cryptocurrencies all that taken abroad by one of the biggest brokerage service, the Paxos company, who will have a temporary license to handle all the Crypto service linked to Paypal. This is a huge step to cryptocurrency and recognition of one of best markets in the world of monetary system, it's no more a "buble" it's a reality and worldwide biggest corporations are seeing it and give it space to develop even better.
That so good to cryptocurrencies but particularly to adoption and use of Bitcoin cash, forget about Bitcoin (this one is well known but nothing left to learn from it) different from Bitcoin Cash which will be one of the assets supplied by the biggest platform of payments and will have the privilege to be reached to the vast cast of customers, this is actually a big deal and will make people aware of the coin worldwide and could be bought by millions of people (new money entering in the market by the hand of the fintech firm) in more than 290 countries worldwide, not mention the biggest network of merchants that deal with PayPal since 1999 in Market.
Enthusiasts are quite not seeing this large network but I am dreaming with this time for so long where Paypal broke the traditional financial services and decided to step in to give what their users want, crypto into their Paypal accounts and use it accordingly with their wishes and pay in various merchants worldwide where Paypal have partnerships.
The San Diego based company gave the first huge step into the right direction to adoption and use of cryptocurrencies worldwide, and Bitcoin cash is one that will be in their basket of choices at first together with Bitcoin, Ethereum and litecoin right starting in 2021. If the government was thinking that this giant was aware of crypto and won't get into it probably this time are start to see the impact of this industry and if they still dumb to understand the power of it will miss the train, they must open those big eyes and start bag more cryptocurrencies as it have been proven that is a better store of value, are cheap and have a fixed supply different from paper money which everyday is being printed and put in debt many sovereign nations.
The offer of Bitcoin Cash in the first basket of choices by PayPal will open doors to more awareness of Bitcoin Cash in the globe, 350 million customers can have the pleasure to hold this assets and use it in their daily routine to pay bills, pay for goods and why not, store it in their wallets.
Of course not all will be roses, as Paypal isn't a private wallet where users hold the keys and somehow this isn't good because in my perception when you don't Hodl this keys that isn't actually your money but a service provided by a third party who control the user access to own funds and Paypal have some bias rules that sometimes make me very upset with them not only that their fees are very high and I am still waiting to see how they will manage to curb those fees. Those for now are the big problems from PayPal but the best thing is the spread and huge adoption that will bring and more awareness to Bitcoin cash, which for now is the biggest gain.
I just hope when their get I market to give support for crypto some of this issues mentioned above may be gone but taking in consideration that they also wanna make cash from crypto some of this will remain but isn't mandatory to use this service with them the crypto world have been doing just great without this big companies, the good here is the acceptance of crypto in more places and merchants across the globe which is benefit to the market and will give more value to it, and I particularly glad to see it happening.
Welcome to crypto Paypal and thanks for letting more than 350 million on the network platform to get knowledge about Bitcoin Cash the best community in the world.
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It's a good move from the giant company Paypal