Technically, “Wormhole V2 is already live for Solana, ETH and Terra,” Curran explained. Wormhole’s node operators, known as guardians, “support Terra for V2, but the front-end interface support that allows users to transfer assets in and out of Terra to Solana and Ethereum is not live yet. The Wormhole team is just awaiting the launch of Col-5 before launching V2 UI support for Terra, which should happen within a week after Col-5 goes live.”
There are many companies investing in blockchain apps for industry disruption. The blockchain service industry is projected to double by 2026. Companies are using these decentralized applications to introduce novel features, innovations and services into their pipeline. These apps are proof of blockchain’s long-term influence on a variety of industries. As a tech enthusiasts, you should know that about 30% of enterprise blockchain projects will be produced in the next year. Of course, this understanding will help to prepare for the advanced future of powerful blockchain applications. Here are several blockchain applications that companies are investing in.
Companies are investing in blockchain apps such as smart contracts for industry disruption. Smart contracts are apps programmed to run with specific and precise orders. They eliminate all possibilities of downtime, deception, censorship or other third party involvement. Additionally, these self automated platforms implement the terms of any viable contract. More so, it offers financial literacy security to recipients of escrow contracts. Using smart contracts, businesses can bypass regulations and reduce costs of financial transactions. Furthermore, all smart contracts are indestructible. Clearly, smart contracts are a dependable blockchain app to invest in for industry disruption.
Cross Border Payments
Moreover, companies are investing in blockchain applications such as cross border payments. Typically, payments across international borders are expensive, costing up to 20% of the transfer amount. Plus, these transfers can be time-consuming. With blockchain technology, cross-border payments have become faster and cheaper, allowing transactions for just a fraction of the costs. Since multiple banks are not required, the transaction process is much quicker. This blockchain application is more promising as businesses need to manage multiple currencies, provide real time transaction rates and improve security features.
Healthcare Blockchain Apps
Certainly, businesses are investing in healthcare blockchain apps. These apps use blockchain contracts to help doctors securely maintain medical data. It allows doctors, patients and third party members to privately transfer and secure sensitive medical data. Some of these apps are deployed on the Kubernetes platform with Helm charts and repositories. This way, developers can manage access the application from a specific URL. With a secure backend infrastructure, these blockchain apps control sensitive information and what can be shared. Meanwhile, healthcare apps can also display details of customized health plans for individual patients. Of course, businesses are investing in healthcare blockchain apps are it makes medical information easier to protect and transfer.
Furthermore, governments across the world are investing in blockchain technology for asset registry applications. These asset registries provide verified transactions including property records and corporate and land shares. In fact, anyone can leverage the governmental block-chain model. This technology provides structured data and access to resources through a distributed ledger enforced by cryptography. With this blockchain app, communities can increase trust and accountability. The government sector can secure public data, reduce fraudulent cases and streamline data processes. Certainly, organizations are investing in asset registries as it allows communities to share information and resources securely.
Distributed Ledger For Utilities
Finally, businesses are also investing in blockchain distributed ledgers for utilities. This technology has the capabilities to improve efficiency for utility providers. These providers utilize advanced, blockchain-enabled solutions to simplify and streamline renewable energy distributions. Typically, this involves tracking custody chain for grid materials and provenance. Additionally, they can employ distributed ledgers to process and validate data before connecting to the blockchain. Blockchain also allows providers to create a transaction system for data, which is vital for distribution. Moreover, providers can employ this technology to develop an energy transacting system across multiple channels. Of course, businesses are investing in blockchain distributed ledgers for utilities to receive renewable energy solutions.
There are many companies investing in blockchain apps for industry disruption. They are investing in smart contracts to enforce the terms of any contract. These platforms are powered by artificial intelligence, which is key to improve productivity, efficiency, and quality. Cross border payments are a popularly invested in as it simplifies financial transactions. Many are investing in healthcare blockchain apps as they simplify and protect the transfer of sensitive medical information. This way, they can streamline security, privacy, and compliance in one of the most sensitive industries. Furthermore, asset registries are earning investments as they securely share government information and resources. Of course, these advanced resources streamline processes and standardize complex financial processes. Finally, businesses are investing in distributed ledger for utilities to obtain renewable energy functionalities. Certainly, there are various reasons businesses are investing in blockchain applications.
Global payments giant Visa has introduced a project that aims to be a “universal adapter” of blockchains that can connect multiple cryptocurrencies, stablecoins as well as central bank digital currencies (CBDC).
According to an official announcement on Thursday, Visa’s research team is working on a “Universal Payment Channel” (UPC) initiative, a blockchain interoperability hub connecting multiple blockchain networks and enabling transfers of digital assets from different protocols and wallets.
“Imagine splitting the check with your friends, when everyone at the table is using a different type of money — some using CBDC like Sweden’s eKrona, and others preferring a private stablecoin like USDC,” Visa wrote, adding that such a tool “well may be a reality” in the “not-too-distant future” with the UPC project.
Developed by Visa’s research and product teams, the UPC project is designed to establish dedicated payment channels between different blockchain networks, connecting CBDC networks between countries as well as connecting CBDCs with private stablecoin networks.
The Visa research team originally began working on the UPC concept back in 2018, developing an interoperability framework that would run independently of the underlying blockchain mechanisms.
“Ultimately, the UPC solution aims to serve as a network of blockchain networks — adding value to multiple forms of money movement, whether they originate on the Visa network, or beyond,” the announcement reads.
One of the world’s largest payments companies, Visa made a major move into the crypto industry in 2020, partnering with blockchain firm Circle to support the USD Coin (USDC) stablecoin on certain credit cards. The company has since reaffirmed its commitment to crypto payments and fiat on-ramps, with a particular focus on stablecoin integrations.
The use of new technologies such as blockchain or artificial intelligence has been in the spotlight lately and gaining more acceptance from governments around the world.
On Sunday, Sept. 26, Germans voted in parliamentary elections that marked the end of Angela Merkel’s 16 years in office. Since 2005, Germany has experienced deep crises, but also unprecedented prosperity. Merkel’s departure creates a power vacuum, but it also creates the chance for a new beginning — with the crypto sector being no exception. But what might this new beginning look like, and what are German parties planning to do to help the crypto market and new technologies like blockchain?
Cointelegraph took a look at the election manifestos, searched for keywords like “cryptocurrencies,” “blockchain” or “digital euro” and asked the parties what they think about the regulation of the crypto market.
Social Democratic Party — 206 seats won
The relationship of the center-left Social Democratic Party (SDP) to cryptocurrencies can be explained briefly: The crypto market apparently plays no role for Germany’s largest political party, which boasts the most members. And such words as “Bitcoin” or “cryptocurrencies” seem to be forgotten by the party in its “Zukunftsprogramm” (English: Manifesto for the future), the title of the SPD’s election manifesto.
The “sister” parties CDU and CSU, known as the “Union” — 196 seats won
Until mid-2019, the center-right parties CDU/CSU were critical regarding cryptocurrencies, after which the party launched its blockchain strategy. In the opinion of the CDU/CSU, blockchain technology has great potential, and Germany is to become a global blockchain pioneer. 90% of the measures (40 out of 44) from its blockchain strategy have already been initiated, including such milestones as the opening of German law for digital securities. The Union wants to continue to push blockchain pilot projects.
On the topic of cryptocurrencies, the CDU/CSU calls for progressive yet responsible regulation and the tightening of Know Your Customer rules. The election manifesto states:
“Acquiring real estate by paying cash should only be possible by means of banks, which must first verify the identity of the buyer and the origin of the money as part of an existing business relationship; the same applies when exchanging cash for cryptocurrency and vice versa.”
Tokenized securities, on the other hand, are much more a focus for the CDU/CSU, and they are openly advocated by the party. The digital euro as a fast, simple and secure means of payment and as an alternative to cash seems to be important for the CDU/CSU, too — but according to the party, “one has to take cautious steps.”
Alliance 90/The Greens — 118 seats won
The Greens understand the importance of blockchain technology but want to keep this innovation under state control. According to Lisa Paus, the Greens’ spokesperson for financial policy, told Cointelegraph that cryptocurrencies bring risks such as “huge energy consumption, abuse by criminals and speculative exaggerations.” “Basically, as for all innovations in the financial sector, the same rules should apply here as for other classic financial products with regard to consumer protection, transparency and financial stability,” she said.
In principle, the Greens support the plans of the European Central Bank to create its own digital euro. According to Paus, the European Union needs its own infrastructure in the financial sector to secure its sovereignty as well as the international role of the euro. She said:
“It is important to us that a digital euro guarantees data and legal security for consumers and businesses and does not threaten financial stability. Through a digital euro, we can also counteract unjustified costs caused by oligopolies. However, a digital euro does not replace classic cash, but complements it.”
Like the SPD, the Greens reject private currencies or stablecoins. The party fears an erosion of state control over currency and, accordingly, wants to take decisive action against it.
The Green party’s election manifesto also intends to completely abolish tax exemptions for cryptocurrency investments held longer than one year.
Currently, Germany only taxes crypto or precious metals, such as gold or silver, if they’re sold within the same year they were bought. So, crypto traders who use digital assets for long-term financial investment and do not often relocate them can generate tax-free profits in Germany.
According to the Greens, it should not matter how long you hold — sooner or later, the state will want its cut.
Free Democratic Party — 92 seats won
In its election manifesto, the pro-free market Free Democratic Party (FDP) advocates a friendly policy toward cryptocurrencies. It says it wants to create an innovation-friendly legal framework for crypto assets and enable digital securities of all kinds.
“Clear standards can enable both the companies involved and the consumers to use blockchain more safely and thus contribute to a better adaptation of the technology,” Johannes Mellein, FDP’s press officer, told Cointelegraph. Per Mellein, regulation should not be too strict but act as a barrier to market entry.
The liberal FDP sees new opportunities in blockchain, especially in the energy sector or for financial services. According to the party, the emerging blockchain ecosystem could be one of the strongest game-changers in capital markets and in the fintech sector in the next 10 years.
According to Mellein, blockchain tech could further unlock previously illiquid assets for investment from the public.
For this reason, the FDP is calling for a transformation of the national and European legal framework. The FDP has also proposed so-called “digital freedom zones” in Germany. Such zones — also referred to as regulatory sandboxes — would free blockchain and crypto startups from regulations and oversight by the Federal Financial Supervisory Authority (BaFin) so that they can try out new concepts and prototypes.
As far as a digital euro is concerned, the FDP sees it as a fast and secure alternative to cash. However, according to the liberal party, the e-euro should not abolish or replace cash.
Alternative for Germany (AfD) — 83 seats won
Although some Alternative for Germany (AfD) politicians have publicly spoken out in favor of Bitcoin (BTC) and cryptocurrencies in the past, the topic finds no place in their current election manifesto “Germany. But normal.” The right-wing populist party has dropped only one sentence about a central bank digital currency, stating that it is strongly opposed to central bank currencies.
The right-wing populist party is only certain about one thing: Cash must be preserved at all costs. The AfD demands the permanent preservation of cash as a civil right and its anchoring in the Common Law.
The Left — 39 seats won
The Left wants to regulate digital payment systems more strongly, in general. In addition, the party sees the state monopoly on currency threatened by the privatization of money — first and foremost by corporations like Facebook and its plans for a complementary currency, Diem. But cryptocurrencies, of course, also do not conform to the leftist credo that money must be state-owned. The Left confirms this to Cointelegraph:
“Cryptocurrencies provide little benefit to society and have harmful side effects.”
Bitcoin didn’t finance our daily consumption, the Left explains, Bitcoin also wasn’t about sufficient value stability, and it wasn’t guaranteed to maintain or increase its value.
The Left, therefore, demands stricter regulation of cryptocurrencies and better financial consumer protections. In the Left’s opinion, the financial supervisory authority, BaFin, should regulate crypto trading “to protect investors from high losses.”
In addition, the Left is calling for a ban on crypto mining. The party told Cointelegraph that it still sees the generation of Bitcoin and cryptocurrencies as a waste of energy and resources:
“Bitcoin is also an environmental sow because mining consumes an extreme amount of electricity. Moreover, there is an urgent need for action to put a stop to money laundering with cryptocurrencies. Bitcoin is the darknet of finance.”
The crypto-critical party, however, is open to a digital euro. The Left even tried to get the digital euro on the agenda in the Bundestag during the last legislative period:
“We are in favor of a digital euro that is secure and innovative, but in no way replaces cash, only complements it. The digital euro would be as secure as cash, would enable its own level of data protection and would support the digitalisation of the economy, such as the aforementioned automation of processes.”
According to the leftist party, blockchain technology is an innovation with great potential, especially in process automation. However, as stated by the Left, it didn’t make sense to use blockchain to verify electricity-intensive accounting via decentralized computers, which is generally provided by banks without errors.
Summary: Stricter regulation expected
How the future government consisting of these six parties will approach the issue of regulating cryptocurrencies and blockchain technology remains to be seen.
Changes such as tighter KYC regulations and stricter regulation of the crypto-economy can be expected soon. After all, the parties agree on one point: Money laundering and terrorist financing should be fought against harder, and cryptocurrencies are still seen by many parties (except the FDP) as “dirty” money with a lack of control.
Private digital currencies such as Diem or stablecoins will also not find support from the German government because of the fear that they could undermine the state’s monopoly on money. Only the FDP refrains from ban rhetoric, but the SPD candidate for chancellor, Olaf Scholz, on the other hand, often pleaded against private cryptocurrencies.
Sep 30, 2021, 10:33AM ISTSource: TOI.in
Non-fungible token or NFT is unique or scarce and it cannot be replaced with anything else. When you create an NFT in its marketplace through a process called tokenising or minting it becomes traceably authentic and unique or scarce. Every NFT is a unique token on the blockchain that stores information on the transactions. An image of a popular internet meme, featuring a two-year-old girl, Chloe Clem dubbed Side Eyeing Chloe, has been sold as a non-fungible token (NFT) for about $74,000. In March, a collection of NFTs by artist Beeple was sold by auction house Christie’s for $69m. The market for NFTs ballooned in 2020. What some may find strange is that these digital art pieces can be downloaded for free, yet some have bought them for millions as NFTs and it’s a market that’s only finding more and more takers.
Is cryptocurrency the future of global banking and trade, or a sketchy payment and investment vehicle favored by scammers and speculators, criminal organizations, and any individual or entity shut out of Western banking systems, like North Korea?
The jury is still out. One thing that is clear, however, is that the cryptocurrency market continues to grow as its popularity has become more mainstream since 2019. Even many once-skeptical institutional investors have come around after seeing some of the mind-boggling returns. In Jan. 2019, one Bitcoin traded for $3,441; this week, it hit $43,136.
But that success may have a price. Calls to rein in the industry are at fever pitch. This month China, one of the world’s largest digital currency markets, outlawed all crypto-related transactions. It banned trading in them in 2019. The U.S. Treasury said this week it will sanction a cryptocurrency exchange for the first time for facilitating ransomware payments. New tax and trading rules for the industry are included in legislation Congress is scheduled to vote on by week’s end. The U.S. Securities and Exchange Commission is also pushing for greater enforcement. SEC Chairman Gary Gensler said cryptocurrency is an asset class “rife with fraud, scams, and abuse” and that investors don’t have enough regulatory protection from the swarms jumping into crypto finance, issuance, trading, and lending.
Scott Duke Kominers ’09, A.M. ’10, Ph.D. ’11, is the MBA Class of 1960 Associate Professor of Business Administration at Harvard Business School and a faculty affiliate of Harvard’s Department of Economics and the Harvard Center of Mathematical Sciences and Applications. He advises crypto businesses and projects, including Facebook’s digital wallet and payment system, and holds crypto currency and other crypto assets. Interview has been edited for clarity and length.
GAZETTE: There are thousands of different cryptocurrencies, but no consensus on the precise number. The range is between 5,000 and 12,000, valued at about $2 trillion. What does the landscape look like today?
KOMINERS: Those numbers sound huge, but there are actually many, many more than that because lots of crypto products are not currencies and lots of cryptocurrencies are too small to be part of mainstream exchanges. Many crypto products are effectively just tokens. Sometimes these are representative of ownership in decentralized autonomous organizations, which are organizations that share governance rights and returns to a committee of participants by allocating them tokens — a bit like stock shares. There are project-specific tokens used in specific online games or among individual communities. There are NFTs, which are unique non-fungible tokens that have been used as representing ownership over things like digital artworks. Tons of these are being minted daily at this point. So, there is a very large landscape. The pure currency aspect of it is a huge market on its own, but a drop in the bucket of the total applications of crypto and blockchain technology today.
GAZETTE: What’s the appeal for investors? Is it just the eye-popping returns or is there more to it?
KOMINERS: Some people have gotten interested in cryptocurrency because of the investment returns, unquestionably. But there are also real, practical infrastructure and technology benefits. You’re starting to see countries willing to receive officially recognized crypto payments. And people have been considering whether crypto technology can be used to deliver government aid. This is because when it’s working, crypto is frictionless, and thus creates a much more efficient way of transferring and sharing value among people. And, as a result, there’s a real opportunity to use crypto for large-scale payments, as well as in things like small-business payment processing. Also, there’s a big opportunity for enhancing financial inclusion, by providing secure payment networks and cross-border transfers in places that don’t otherwise have well-structured consumer financial systems.
So, while some people are interested in this for the short- or medium-term investment opportunity, I think a lot of the investment we’ve seen flow in on the institutional and venture sides is because there are real, valuable technologies that are being built on crypto backbones that can do things we never could do before in markets.
GAZETTE: The SEC chairman called this an asset class “rife with fraud, scams, and abuse.” Is this industry operating in a rule-free, “Wild West” atmosphere, as he suggested?
KOMINERS: I haven’t read the full Gensler remarks, so I can’t comment explicitly on his overall take, but I can comment on some of the individual elements you mention. It’s clear that this space needs much more consumer protection, and we’re starting to see that. Right now, if a hacker gains access to your crypto wallet, they can drain it and you may have no recourse. But the newer waves of wallet technologies and crypto exchanges are thinking hard about all the things consumers expect out of banking products and equities trading accounts. They’re trying to create more security and protections at the consumer-interface level.
And then of course you also need regulation to prevent financial crime and scams, just like we have in other parts of the financial-services industry.
GAZETTE: Some lawmakers have pointed to the GameStop stock trading frenzy in early 2021 as analogous to the crypto market, saying that most ordinary investors have gotten caught up in hype and don’t fully understand the risks they’re taking.
KOMINERS: In some sense, the GameStop meme trading is very analogous to the Dogecoin meme trading — some of the consumer confusion around the idea that financial assets could lose value. A lot of people lost a lot of money in the GameStop and Dogecoin run-ups and crashes. They were on this platform that made it feel like a video game. And so, I think in those ways, it’s analogous. But when you get to the technology infrastructure pieces, it’s very different.
Cryptocurrency trading now looks a lot like equities trading — you have a brokerage account at an exchange, and you trade on your Robinhood platform or something like that. But a lot of these other applications where the infrastructure is very, very new, and the platforms are very, very new, they’re not heavily protected.
Consumers and investors need to understand that they are high-variance assets. I think we’ll see more regulation around messaging and communication, but then, there are also backbone questions. For example, one of the regulatory conversations is around stable coins. These are crypto assets that hold nominally fixed values because they’re designed to just be used for moving money from one place to another in a fixed denomination. They’re typically backed by reserves in the same way that banks back their loans. But there are questions about how big the reserve has to be. If everyone simultaneously decided they wanted to divest, do they have the reserves to back them? I expect to see regulation around that.
GAZETTE: Besides fending off regulations, what are the industry’s other challenges?
KOMINERS: One is that some people are not currently paying taxes on their crypto income. A second one is that a lot of people who would like to pay taxes on their crypto have absolutely no idea how to do so. We don’t have clear categories for taxation purposes of what all these different assets are so it’s extremely complicated to figure out what is direct income? What is capital gains? When do they accrue? So organizing the tax treatment of all these assets and then, of course, regulating tax payment, is essential.
The other thing is the environment: A lot of most popular crypto-technologies, at the moment, require tremendous amounts of energy to run. And so, we’re going to start seeing government leadership and regulation driving a shift toward versions of this technology that are more environmentally sustainable.
Mining is the colloquial word that’s been given to solving a very hard cryptographic problem as a way of verifying transactions. Bitcoin and a lot of other very early companies use a technology where you have to prove that you solved a very hard computational problem to establish what the next block is. And it’s solving those computational problems that’s taking up all the energy. Newer blockchains use much less energy-intensive ways of validating transactions. And so, my guess is that the way we’re going to get away from really harmful cryptocurrency transactions is through continual improvements in the technology, and regulation and market forces pushing toward technologies that are much more efficient.
GAZETTE: If new regulations are on the way, what would be the best- or worst-case scenarios for the industry?
KOMINERS: I don’t think it’s a question of nothing versus a lot. The real question is the extent to which regulators understand that crypto is a different type of product and tech infrastructure from anything they’ve regulated before. The worst case would be to treat it like historical financial products or like historical tech platforms without thinking about the ways in which crypto differs, both in terms of its use cases and in terms of its underlying technology.
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It is easier than ever to buy cryptocurrency — all you have to do is pull out your phone and open an app.
PayPal is one of a few popular mobile and online payments platforms now allowing users in the U.S. to buy, sell, and hold cryptocurrencies with as little as $1 invested. But if you’re looking to add cryptocurrency to your portfolio, you should think carefully about which platform you use — and whether you should be investing in crypto at all.
Even the most common and time-tested coins — Bitcoin and Ethereum — are still highly volatile. That’s why experts recommend investing no more than 5% of your portfolio in crypto at all, and never letting it get in the way of things like saving for emergencies or paying down high-interest debt.
If you do decide to invest, where you buy your crypto can have important implications worth thinking about ahead of time. It may be easy to buy crypto with an app you already use — and trust the security measures of — like Paypal, but there are limitations compared to traditional cryptocurrency trading platforms.
Here’s what you need to know before buying crypto on PayPal and how to figure out whether it makes sense for you.
What You Need to Know Before Buying Crypto on PayPal
Any PayPal user can buy, sell, and hold crypto. You can also use crypto at checkout for select purchases, but it’s generally a bad idea to use any cryptocurrency as a form of payment. As with other long-term investments, experts recommend buying and holding your crypto long term.
PayPal protects eligible purchases from fraud if you check out with crypto.
PayPal, along with other apps like Venmo and Robinhood, are making crypto more accessible, which is a major draw for many beginner investors. But increased accessibility can also increase your risk.
“If you have a PayPal balance on your phone, and you’re curious about cryptocurrency, you can open PayPal, click crypto and in two seconds own a few hundred dollars worth of cryptocurrency,” says Julian Morris, a certified financial planner at Concierge Wealth Management in Boston. “They just make it really, really easy.”
Given the value of the cryptocurrency market, there is a case for owning a little bit of it, says David Yermack, a finance professor at the New York University Stern School of Business who researches cryptocurrency. But it shouldn’t be your main focus.
“The tried-and-true formula for success in investing always involves diversification — not putting all your eggs in one basket, but trying to own a little bit of many things,” he says.
How to Buy Crypto on PayPal
To buy crypto from PayPal, you’ll need to set up an account. If you already have a PayPal account, all it takes to buy crypto is clicking a button that says “crypto” and choosing which coins you’d like to buy.
You can purchase four types of crypto on the PayPal app: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. However, experts recommend sticking to Bitcoin and Ethereum if you’re a new investor.
To complete your purchase, you’ll need to have available funds, a linked debit card, or a linked bank account. You can spend as little as $1 or as much as $100,000 a week. Like many crypto exchanges, there’s a fee for buying and selling crypto on PayPal, which varies depending on how much you buy.
PayPal Crypto Fees
|Purchase or Sale Amount||PayPal Fee|
|$1 – $24.99||$0.50|
|$25 – $100||2.30%|
|$100.01 – $200||2.00%|
|$200.01 – $1,000||1.80%|
|$1,000.01 and up||1.50%|
You also have to verify your identity, fill out a W-9, and agree to the PayPal terms and conditions. If you decide to make a purchase with crypto, PayPal will automatically convert it into the U.S. dollar at no additional cost.
Alternatives to Buying Crypto on PayPal
Investing in crypto using PayPal is simple — especially if you already use the app for online payments. But it has limitations.
The crypto you buy through PayPal is not the same as buying crypto on an exchange like Coinbase or Gemini. When you buy crypto from a traditional exchange, you have the option to transfer it to a wallet for secure storage or to someone else — a key distinction when it comes to full crypto ownership.
That’s not the case with PayPal. You can’t transfer crypto from your account to other accounts on or off PayPal, and you have to sell your crypto on PayPal to make a withdrawal, which you’ll also be responsible for reporting on your tax return.
If you want full control over your coins, a cryptocurrency exchange may be a better choice. While they can be more complicated to navigate as a beginner, you’ll have more flexibility with your coins and potentially pay fewer fees. You can use these exchanges to trade one crypto for another (like using Bitcoin to buy Ethereum) or buy crypto using regular currency, like the U.S. dollar.
Still, PayPal can make sense for new investors who want to experiment with a small crypto balance on a familiar platform. Even for those well-versed in traditional investment options like stocks and index funds, crypto investing using exchanges can be complicated. For example, personal finance expert Suze Orman recently told NextAdvisor that she purchased $5,000 in Bitcoin on PayPal instead of a traditional exchange because “it was just easy to do it.”
If you’re a new investor with a few dollars to spare, PayPal can be a good place to start. Investing in a small portion of your portfolio in Bitcoin on a platform you already trust can make sense for beginners, especially if you don’t anticipate adding large amounts you might want more control over (like your own wallet storage) later.
There’s no wrong or right way to invest in crypto — it ultimately depends on your personal preferences. What matters more is taking the time to learn about crypto before investing in it. “Before you click a ‘buy’ button, you just want to be prepared,” says Morris. “And if you want to be a prepared investor, you certainly need to do a lot of research.”
Remember, any crypto investment is volatile, and you should only invest what you’re prepared to lose. “If you’re going to own it, you only want to own a little bit as part of a very diversified portfolio,” says Yermack.
You should also prioritize other important aspects of your finances, such as having an emergency fund or paying down high-interest debt, before investing in crypto — whether it’s through PayPal or not.
And whatever platform you choose, take time to learn about smart crypto investing for the long-term, keeping your coins secure, and how to deal with the volatile price fluctuations.
DES MOINES, Iowa, Sept. 29, 2021 /PRNewswire/ — Today, Blockchain.com, the world’s oldest and most trusted cryptocurrency platform, announced its continued expansion into the Midwest, providing custodial and brokerage product eligibility to Iowa’s three million residents.
The news comes on the heels of the recent product availability rollout in Oklahoma, following expansion into Alaska, Delaware, Florida, Illinois, Oregon, New Hampshire, and New Mexico over the past year. Currently available in approximately 30 states, the crypto platform plans to expand product availability to all 50 states through state-by-state license approvals.
As a remote-first company, Blockchain.com will also look to the Iowa market for top talent across its open roles in compliance, customer success, data science, engineering, finance, legal, marketing, and more. All open positions can be found at Blockchain.com/Careers.
“We’re committed to making crypto easily accessible to everyone, everywhere, including all 50 U.S. states,” said Brooks Wallace, Blockchain.com’s Head of Communications. “Iowans now have the ability to buy and sell crypto on our platform, increasing their earning potential and financial freedom. In addition, we encourage Hawkeye State residents to apply for the many open remote roles as we create a financial system for the internet that empowers anyone in the world to control their money.”
With a $5.2B valuation and more than $500M in venture funding from the best macro investors in the world, Blockchain.com is at an inflection point in its growth. The company is home to a growing Institutional Markets business and more than 32 million verified users across more than 200 countries who monitor, buy, sell, trade, and store crypto using Blockchain.com’s non-custodial Wallet, lightning fast Exchange, and renowned blockchain Explorer.
Blockchain.com is connecting the world to the future of finance. The London and Miami-based company, with an international team spread across the world, is the most trusted and fastest growing crypto company, helping millions across the globe safely access cryptocurrency. Through the use of blockchain technology, Blockchain.com is revolutionizing the $14T financial services industry. It has raised more than $500 million in funding from leading global investors including Eldridge, GV, Kyle Bass, Lakestar, Lightspeed Venture Partners, Moore Strategic Ventures, Rovida Kruptos Assets Limited, and others. Visit Blockchain.com for more info, follow us on Twitter @blockchain, check out The Blockchain.com Podcast, and read our latest Monthly Market Update and blog for the latest company news.
Brooks Wallace, Head of Communications
“Our team is working on a proof-of-concept project for a private, permission-less DeFi network, with a corresponding token,” R3 representative Nick Murray-Leslie said via email. (“Private” and “permission-less” sounds confusing, but refers to R3′s work with Intel SGX to create a closed setting for transactions while holding onto the open nature of DeFi.) “Our goal is to design, test and have it shovel ready from a technological standpoint for next year.”
Major players in the blockchain AI market are Cyware Labs, Core Scientific, Ai-Blockchain, AlphaNetworks, Bext360, BurstIQ, Neurochain Tech, Figure Technologies, NetObjex, Fetch. ai, Chainhaus, CoinGenius, and Computable.
New York, Sept. 29, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Blockchain AI Global Market Report 2020-30: COVID-19 Growth And Change” – https://www.reportlinker.com/p06151702/?utm_source=GNW
The global blockchain AI market is expected to grow from $232.09 million in 2020 to $297.62 million in 2021 at a compound annual growth rate (CAGR) of 28.23%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $748.8 million in 2025 at a CAGR of 25.93%.
The blockchain AI market consists of sales of blockchain AI technology and related services by entities (organizations, sole traders and partnerships) that provide blockchain and AI technology.Blockchain is a decentralized network of computers that records and stores data to display a chronological series of events on a transparent and immutable ledger system.
Artificial intelligence (AI) refers to the simulation of human intelligence in machines that are programmed so that machines can think like humans and mimic their actions.Blockchain AI convergence is inevitable because of both the technology with data and value.
Blockchain enables secure storage and sharing of data whereas AI can analyze and generate insights from data to generate value.
The main types of technologies used in blockchain AI are computer vision, machine learning (ML), and natural language processing (NLP). The blockchain AI is implemented in different verticals such as BFSI, telecom and IT, healthcare and life science, manufacturing, media and environment, automotive, and other sectors and is applied in smart contract, payment, data security, logistics and supply chain management, and business process optimization.
North America was the largest region in the blockchain AI market in 2020.Asia Pacific is expected to be the fastest growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Growing investment in Blockchain AI technology by enterprises is considered an emerging trend in the blockchain AI market.Artificial Intelligence refers to the machine that performs intelligent tasks performed by humans.
Blockchain is a decentralized network of computers that records and stores data to display a chronological series of events on a transparent and immutable ledger system.The development of artificial intelligence applied to big data together with the security offered by blockchain technology creates the perfect combination for the management of large databases.
Blockchain technology, in particular, has shown immense potential when coupled with machine learning functionality.According to a survey conducted by O’reilly in 2019, 85% of 1,388 organizations are using AI in production.
Most companies that were experimenting with using AI are now going ahead and adopting it in their processes. Therefore, investing in blockchain technology by business enterprises plays a major role in the success of the businesses.
In June 2020, NetObjex acquired VitalGrid for an undisclosed amount.The deal will expand NetObjex’s Digital Transformation product and service offerings.
NetObjex is an Operating Platform for Digital Assets utilizing Artificial intelligence, Blockchain & IoT with applications in Manufacturing, Supply Chain, Transportation and Smart Cities. VitalGrid provides business technology and management consulting for improving performance, streamlining processes and reducing risk by delivering technology-enabled business innovation.
The growing demand for accessing and managing data efficiently contributed to the growth of the blockchain AI market.Currently, most of the work has become digitalized and is mostly stored on the cloud, which is accessed and managed by blockchain AI.
Blockchain AI convergence is inevitable because both the technology deal with data and value.Blockchain enables secure storage and sharing of data whereas AI can analyze and generate insights from data to generate value.
For instance, Gainify is a healthcare platform that leverages AI, IoT devices, and blockchain and facilitates different tasks such as streamlining appointment scheduling, digital payments, identity verification, medical records management and others.It also allows monetization of anonymous clinical data through a crypto payment system.
The benefits of the deployment of blockchain AI in the process increased its demand and thereby contributed to the growth.
The countries covered in the blockchain AI market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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