Topic: Crypto Adoption is Growing (Read 327 times)

This is a good move that will increase the population of PayPal users and BTC users in some countries that adopted BTC, because many BTC users will like to have an account with PayPal so that they can benefit from their new product.

Like some of us that have never seen such a thing from crypto users, is amazing thing to see a big company to introduce MasterCard that is not involve wallet but only the username that requires for you to operate.

I know that they did this to join some companies to continue promoting BTC and crypto to make it easy for those that have been into the industry not to stress themselves for any kind of transaction.

i feel that with more and more companies launching their crypto products, it will increase the exposure of the crypto market and make more and more people want to know what crypto is and how they can invest in it. this will encourage people to learn about cryptocurrency and the things related to it, and most likely the first asset they invest in will be bitcoin, and that will indirectly increase the number of retail investors in bitcoin and that will push the price even higher. i am quite pleased with this development and hope that more and more companies will realize the benefits of using crypto on their platforms.

Yes you are right I also think governments won't let cryptocurrencies replace traditional money completely. Governments use traditional money to control people finances and behavior. Some governments might seem to support cryptocurrencies but they just want to appear modern without losing their power. Companies are excited about cryptocurrencies especially about Bitcoin because they can make lot of money from them. They are investing heavily in Bitcoin to maximize their profits like we have an example of El Salvador. In the end cryptocurrencies and traditional money will likely coexist allowing governments to maintain some control while also benefiting from the advantages of digital assets.

Yes that is correct but it won't be as fast as possible because of many countries still believe much on fiat and won't like to dive into crypto currency adoption that will cut short the use of fiat, not just that the core values on how crypto currency is making transaction and other means of investment easy is not known by many government of some nation but citizens financial control as per the way government has their regulations may not be that strong such as in the case of fiat when fully adopted to crypto.

There most be a kicked against by many leaders of various government in some nation but still crypto will strive as citizens will over ride their interest.
Crypto is creating a good move that will bring in more interest of speedy adoption of many with most if this recent development as PayPal and others is currently doing right now.

OMG. This Stablecoin from Paypal will bring massive people into cryptocurrency, as we all know how famous Paypal is and it's the OG of payments in the market.

So for me, Paypal PYUSD move that started to integrate to other chain is a big move as they will gain more volume and transactions, means more people to use their stablecoin.

No, countries and their governments won't let cryptocurrencies take over fiat systems and make them obsolete because fiat currencies and traditional financial institutions provide them a lot of control over their people's money and financial activities and they use this to control their behavior towards them. Some governments might show support for cryptocurrencies or even allow their usage, but they wouldn't make them take over fiat currencies completely.

Companies and firms are showing a lot of interest in cryptocurrencies, Bitcoin in particular, because they have realized that there is a lot of profit that they can get from this industry and they can't let go of such an opportunity. So they are doing everything they can to cash the opportunity and grow themselves financially.

This is  just the beginning. As crypto become more popular this days, it's adoption will definitely gradually increasing. In 10 years to this time, I believe crypto should be included as payment method in most big companies.

That's not the work of the governments though, it is the choice of developers. Basically they choose the centralized route because that way they can have more control over their coin which then allows them to make more money from it.
For example if Ethereum weren't centralized they would have never been able to roll back the blocks when they lost money in the DAO exploit or make millions out of the premine and the recent PoS profit-for-doing-nothing fork.

I think if those financial institutions that already have big names have started to turn their attention to this, I think I just have to wait for the continuation.

I think with that, the platform also carries out at least a survey, if there is high interest it will continue to be more specific. Just like selling, when there is a lot of interest and the item sells well, there will be a follow-up program.

I can see that many of these companies don't want to miss out on the great trend that is going currently.
Crypto adoption is increasing daily and we might not be surprised to see that people are more interested in transacting through cryptocurrency than to use the normal fiat means. The world is changing gradually and we will not be surprised that many countries would start accepting cryptocurrency transactions to make things more easier to carry out with time.

These centralized or semi-centralized platforms and their products can bring more convenience to people and some will become their new users and new participants in cryptocurrency market.

With long term it will help for adoption generally but I very agree with you about privacy. These platforms and their products don't help people to gain privacy and enhance users' experience and their privacy.

With time and own experience, people will be exposed more about privacy and take care of their privacy more seriously. I know privacy must be secured at beginning but it's hard for non technical, not security people to know about importance of privacy when they just begin as newbies.

Like me, it takes me a long time to learn in the forum and learn about Bitcoin as well as privacy. I did not know about it when I was a newbie.

DEX, Web3 wallets created by Centralized exchange teams, it's hard to believe you will get privacy with them.

The aim of creating cryptocurrencies is indeed a decentralized ecosystem, but as time goes by that doesn't really happen, in fact currently the average number of new projects that emerge are centralized projects, with government interference in crypto regulations, the goal of developing a decentralized crypto ecosystem, disturbed as a whole.

I don't see the risk about crypto adoption. It's a consensus when there's crypto adoption and that only means that it is the majority that are adopting it. So, there's no risk with that. The actual risk starts when each individual invests on it but it's only about investing with cryptocurrencies, there are people that uses it for actual payments because the fees are cheaper and quicker. That's why I don't understand about the risk and about the stake you're saying about potential loss since these two companies are payment processors. But I do understand that you're speaking entirely with an investor's perspective.

This two new developments are definitely big pluses for cryptocurrency adoption, it is very good when reputable financial companies identifies with cryptocurrency, it'll make more people to adopt it. I've heard about speculations whether PayPal and Mastercard, will adopt cryptocurrency, and I'm happy that today it has become reality, hopefully we will see other top companies that will step up to diversifying into the crypto market. The beauty of this is that it will be a big question mark on countries where cryptocurrency is banned and where they have unfavorable crypto restrictions, as they're seeing renowned companies like PayPal and Mastercard, adopting crypto into their businesses, it'll surely give them a rethink about their stance.

They see the growth of bitcoin is inevitable that's why instead of sticking on traditional way on handling their business, they choose to adopt to survive on the changes happening on the market. They need to target where there's a big market since this could really give them a big profits. Yeah if those companies will not follow the trend for sure they would lose a opportunity to give a huge boost to their company knowing that bitcoin or crypto market got a wide market. If they adopt it then for sure that there would be a lot of people will use their service and this will give them huge sales.

The only problem I see on this is the government insights towards the adoption made by some companies since there are strict officials doesn't want to implement it that's why the other institutions is doubting to include bitcoin or crypto its because they don't want to get a conflict on the government interest. So hopefully we can see them being open since for sure that there would be a lot of benefits to get here.

Most of them follow the trend and try to earn much profitable as possibility, PayPal launch their own stable coins on Salana network because their trend recently loss compete from cryptocurrency and most of user seems safety when using stable coins with cryptocurrency network.
I think all companies if not follow the trend will loss great opportunity at the future and potential with their project will be less interested from costumer.
Cryptocurrency have been part of the future and all project need new adapt well for accepting bitcoin or altcoin, if their company not allow for using bitcoin or altcoin I think easily loss their member in short time.

Let's just accept the fact that bitcoin is financial technological development which has its own unique records and so also as PayPal, honestly no one would ever know it all Instead we adapt from others to initiate our own creativeness.
Let's consider HashCash and B-money as earlier proposed digital currency years past but couldn't make it stand before Satoshi Nakamoto came up heavily strived to hand succeeded on bitcoin today.
Everyone may have been behind closed doors cooking some stuffs maybe didn't work out as expected so, let's say Paypal wasn't exempted and so they've no choice than enlisting bitcoin to their firm.
Let's also watch out what happens to other Fintech companies.
Believe it that the dominance of bitcoin users would have those multi companies no choice than adopting bitcoin if they wanted improvement because the possessions of bitcoin is like a community affairs with one goal.

This is not adoption, at least not the adoption we were looking for.
This is centralized companies creating something completely centralized on centralized or semi-centralized platforms. Was this really what people were hoping to happen to the cryptocurrency world? I don't think so.

Growth is important and it do comes for influential. Never stop believing because miracle do happen during the harvesting period and there's more investors ready to trigger entries on a particular project. Crypto adoption is risky but I do assured everyone that the ratio of losses is staked high but it doesn't on our end to relent, rather keep 80% focused on our own projects which is right infront of us and not jeopardize any chances earned.

If you don't follow the trend then you'll be left behind, I think Mastercard as a financial institution have got to know this and they are keying in when it's not too late, And have to start offering their customers services in crypto because it has become clear that cryptocurrencies is the future of money and as we see can see that we are having increasing interest on crypto as each day pass by.

It's indeed very fascinating about the way Bitcoin and cryptocurrencies is becoming a household name. Even companies delve into the Blockchain network just to earn from the growing choice of currency for many across the world.
Surely the success of Bitcoin has made many others believe that cryptocurrency is indeed the money of the future and with the privacy crypto investment offers, along with the speed and ease and cheapness of fees, it remains a one top choice that may in a long time be king over all other currencies.

This is the kind of news that gets me excited. Truly cryptocurrency have experienced massive boost this year and with the ETF approval, many great things will keep happening in cryptocurrency.  Mastercard allowing cryptocurrency is a huge one for me, just imagine how many of their customers will learn about Bitcoin through this development. Some will see how easy and convenient it will be loading their cards through Bitcoin.

I have always believed that cryptocurrency will make more impact the moment we begin to see it being integrated into businesses and various payment systems.

They just can't be left behind and they have to adopt because that is the necessary thing to do. Although it should have been long overdue but then, it's not yet too late for them to have it done. I haven't used it though but I have used PayPal for so many times and did transactions from my PayPal funds just to buy Bitcoin which was quite hard to do before, I forgot that exchange that I have used for doing so.

Hoping for the best for more adoption of Bitcoin.

That's a great step taken by a giant like PayPal and the strange thing is that they considered Solana Blockchain for their Stable Coin instead of Ethereum. However, if that blockchain works for them and serves the purpose then nothing is wrong in that.

I believe that after the launch of their stable coin, the ones who heard about PayPal or who use it will surely think about PYUSD and that will bring many new users to the crypto market. I believe it's going to play a very important role in enhancing Solana value and it may play a good role in this bull run as well.

PayPal is a big company and they have seen the way people are transacting with Bitcoin all this while so they don't have any choice than to add the Bitcoin features in their site. PayPal made the right choice to add Bitcoin to their site, the earliest they new about the importance of Bitcoin also the better for them. Bitcoin is not a babysitter stuffs and PayPal known that, that's is the main reason why they decided to add it in their company. However from their performance, let's hope other fintech companies will accept bitcoin on their system sooner.

I don't think that Paypal and Mastercard have good intentions with  introduction of new stablecoins and crypto credentials.
Bitcoin should be used mainly for decentralization and with this mastercard and paypal we are spinning in circles with more centralization.
Always remember that all this companies are going to fully track and report all your transactions and spending amounts.

I remember many have said before when PayPal hasn't adopted yet. Everyone used to say "if you can't beat them, join them". And this what exactly has happened for PayPal and Mastercard. There's a lot of comparisons in the past about Bitcoin and PayPal as they're both payment processors but obviously, Bitcoin is better because of its various features although PayPal is more tenured. This time, it has adopted Bitcoin and other cryptos because they can't be left behind with what's the innovation that's happening in the fintech.

Solana blockchain is very hot recent months by recoveries of Solana and lucrative airdrops on the blockchain. After Bitcoin Spot ETF and ETH Spot ETF approvals, there are speculations that there will be other altcoins to have chances for Spot ETFs. The interesting rumor is a next one will not be XRP Spot ETF but Solana Spot ETF.

Do anyone know why PayPal chose Solana for their Stablecoin, not other blockchains?

They changed and turn to support cryptocurrency because they know that they can not be outsiders. By joining, they will have mutual interactions with cryptocurrency market and crypto enthusiasts, users so that they will get benefit too. People who have fiat currency and cryptocurrency can use their services directly and it will help these companies to get more income and richer.

Better late than never Lol. Perhaps adopting and creating crypto coin doesn't seem just a day job, thorough researches need to be made and licences needs to be approved, engineers and developers has to be on board. An overall, the technicalities involved in creating reputable coins could take a while hence it's not one of those temporary Memecoin that's potential to go exile in couple of times.

Cnbc news channel has announced the lunch of those features in Last Aout 2023: https://www.youtube.com/watch?v=y_3ZbTqX9Gc

This sentence literally cannot be true: "PayPal launches its own currency."
Because it is a stable coin mainly linked to the dollar. The currency is called PyUsd, and PayPal has commissioned Paxos to launch this currency, and this is certainly to ensure the greatest degree of transparency and compatibility with American laws. It is not yet clear whether all PayPal users will enjoy the service or whether it will be limited to citizens in the United States. Also, there are no clear details yet as to whether this currency can be used outside the PayPal system, that is, for it to be circulated.

I agree, maybe it's possible that they'd also support that with other networks for everyone's convenience. I think that it is going there just as other stablecoins are also supported from different chains that we get to use especially with the other competitors like USDT which is the common now. As of now, they're probably only focusing on it and development is there.

I hope so, but IMHO, the Bitcoin ETF spot news and adoption is still bigger than this. Anyway, all of these news will be merged into one effect and with what you have said, that's what we all want.

It seems to be a nice and useful feature. It reminds me Paystring, IMO it's the same concept actually, except this protocol is designed and managed by Mastercard. Paystring has never been adopted unfortunately, and crypto.com is certainly the only big platform offering it nowadays. I hope for Mastercard they will have a better success than that. People avoid to use the same address for their transactions when they use Bitcoin and some other cryptocurrencies, in order to protect the privacy of their payments but if they use this kind of alias service, they won't stay anonymous for long. Espcially if blockchain explorers link their addresses to their aliases.   

https://blog.coinfield.com/2020/06/18/the-launch-of-payid-amp-the-open-payments-coalition/

Definitely Crypto adoption is growing, big financial business have definitely got eyes
on crypto.

I remember a number of years ago on the forum there was a lot of talk, expectation and
speculation about paypal and mastercard adopting crypto but Bitcoin more importantly,
and now here we are its becoming more of a reality.

I would also like to add that Revolut has advertised recently that they have reduced
the fees for crypto trading. Also they allow users to buy crypto and then withdraw to a
different address.

Even if we consider what the impact of all the recent ETF's which got approved, these alone
will increase adoption

Yes they have been in the news long enough that I even thought they later abandoned the whole idea, seeing the $PYUSD lunched on solana blockchain actually means that they might have been having difficulty make a choose of which blockchain to actually use. Last I read was the suggestion of Ethereum which if they had done will definitely not increase the adoption rate of customers using it. Currently Solana is one the most sorted after blockchains due to its transaction speed and low fees. So in the end it is better for now but maybe in the future they can spread it to other blockchains for diversification sake.

OP this is actually one of those FOMO news that leads to a heavy bull run, with the continuous spread of adoption this fast I see bitcoin even hitting a six figure before the end of the year

It's amazing seeing these big names showing support to cryptocurrencies and bitcoin, since after bitcoin ETF we have seen big names like Google and others including now PayPal Mastercard showing support to it.

With all these many who were once skeptical about cryptocurrencies willl see reasons to welcome themselves into the crypto space but my advice above everything is that even as we use their crypto services we should also be cautious of privacy especially those having huge holdings because when there's any data breach they will be targeted more by hackers, its better to create a separate wallet for basic spendings or using these services.

I don't know if you have seen this news
Healthcare Company Semler Scientific Buys $40 Million Bitcoin, Adopts As Treasury Reserve Asset
https://www.nasdaq.com/articles/healthcare-company-semler-scientific-buys-$40-million-bitcoin-adopts-as-treasury-reserve
This shows every sector of the society is moving towards crypto adoption which is a proof that the bull run is just getting started

PayPal has taken longer time before they did this adoption but the important thing now, is that they have fully adopted crypto. IIRC, it all started in 2020-2021 when they have started to support few cryptos that includes Bitcoin. And now, as a payment processor, they've made their stable coin. And as for mastercard, although that feature isn't new to us. But for most of the new folks in the cryptosphere, they think that it's amazing to send crypto by using usernames only and without having the need of crypto addresses. Since it is Mastercard so, it's amazing.

This is a good development since for sometimes there have been need for more scability in the cryptocurrency space and such development and adoption of cryptocurrency into their payments system will further enhance the movement of money across boarder and with low fees since it be internal transfer within their network, Master card is new to cryptocurrency adoption but PayPal hard one time adopted cryptocurrency before halting the service sometimes ago if I am not assuming.


But in all of this, a few questions will rang in the mind of many cryptocurrency users who may want to adopt those platform for crypto transactions, such question as.

1: what type of cryptocurrency is adopted, is it only the native token of those platform or one can trade their funds into other cryptocurrencies such as Bitcoin, Ethereum or USDT etc.


2: what are the fees associated with making transactions on those chain, although Solana have a relatively low fees, but as for master card who's service is to send crypto via username, just like what we have with other centralized exchanges that offers such service to the users to make internal transfer via username or tag whatsoever.


this is a good development and a plus to cryptocurrency adoption by institutions and companies, because payment system serve as a Chanel to cryptocurrency usage.

1. PayPal launched their own Stablecoin called $PYUSD on Solana Blockchain.
2. Mastercard launched 'Crypto Credential,' allowing users to send and receive crypto using a username instead of a wallet address.

Such a big name in the finance industry introduced Crypto related services today.
Other companies will surely follow them which will lead to the next Bitcoin Bull Run.

Let me know what you guys think!