The world is slowly opening up to cryptocurrencies. In the last few years, several financial institutions and corporations have started accepting cryptocurrencies such as Bitcoin and Ethereum as payment for their products and/or services. For instance, PayPal announced last week that it would launch a new service that would allow its UK customers to engage in crypto purchases and transactions. The service will allow customers to take their pick from 4 crypto options – Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
PayPal customers would also get to access some additional features through the service. For example, they can access educational content for making themselves more aware of cryptocurrencies. They can also view the prices of various cryptocurrencies in real-time, which would help them make sound investment decisions.
Recently, El Salvador legalized Bitcoin, becoming the first nation to do so. Many other countries are also bringing up crypto discussions to ensure proper regulation of the currencies. However, it’s not all good news for crypto stakeholders around the world. Some countries such as China have stepped up their efforts to put a stop to crypto mining. This has led to a mass exodus of crypto miners from these countries. For example, most miners who were forced out of China have now set up a base in the US.
In 2021, several lesser-known cryptocurrencies also came to the fore. For instance, Dogecoin became famous overnight after Tesla CEO Elon Musk hyped it up. Cardano and Binance Coin have also recorded all-time highs this year. Even though there was a crash that saw crypto prices plunge for some time, things are stable right now and hopefully will stay stable going into the future.