So if you are like me, you are getting extremely excited about what is going on in the crypto industry.
This was compounded by the news release coming out on 22nd June 2020 from PayPal.
PayPal is getting into crypto.
Yes, you read that correctly.
PayPal has started advertising job vacancies to hire experts on crypto and blockchain amid rumours that the global payment platform will allow its 305 million users to buy direct cryptocurrency.
The job descriptions for which it hires are publicly available on the company’s own board of employment.
Yet why is this exciting?
That is because a company wouldn’t want to hire crypto engineers if they didn’t want to start using it.
This coincides perfectly with what was said in 10-K filing.
PayPal lists potential rapid developments in blockchain and virtual currencies in its latest 10-K filing as a possible risk factor that could have a negative impact on the firm.
The organization may have wanted to target those future risks preemptively.
But there is more.
According to a CoinDesk article, three sources have reported to the publication of the crypto industry that PayPal and its associated platform Venmo would allow their users to buy and sell multiple cryptocurrencies “directly,” although the coins they would help have yet to be disclosed.
What does this mean for crypto?
With such a big player coming to the market this is nothing but good news.
This will help provide the industry with integrity.
People will now start to see this industry and a real option and not just as a “get rich quick scheme” that was perceived in 2017.
Well, we all know how that turned out.
Not only will this move provide the industry with integrity but it will offer cryptocurrencies utility.
Now people can spend their crypto easily and that will only encourage more people to start using it.
And what does that mean for the price?
Well, with the simple economic law of supply and demand.
This means we are very likely to see the whole crypto market increase in value due to an influx of new investors entering the market.