The events of the past two weeks have left us exhausted so we know how you feel 😪. On one hand, we’ve been monitoring the events around us. On the other hand, we’ve been gathering crypto news that affects you. So while you take some time to rest, here are some juicy crypto bits from last week. Enjoy and stay safe!
Paypal x Bitcoin: Adoption of the Year
Paypal will start accepting Bitcoin from 2021. This is a huge deal! Let’s look at Paypal in numbers: 346 million active users, 22 million active merchant accounts, 7.6 billion payments yearly, 200+ markets. Now you can imagine why this is one of the biggest things to happen to Bitcoin in a long time. Because of Paypal’s existing market, Bitcoin adoption will most like spread to people who would not usually pay attention to it. We can’t wait to see what comes next.
The Journey of a Thousand Lambos Begins with $13,000
Bitcoin recently hit $13,000. But what’s next?
The last time this happened was December 2017 and before you know it, we hit $20,000! But will it be the same this time? To be fair, things were a lot different back then. This year, we have Covid-19 and the US presidential elections to deal with. But then again it’s almost christmas and anything can happen. So hold your wallets close, and do as much research as you can because this isn’t trading advice 👀😅
USDT: One Stablecoin to Rule them All ✊🏾
We’ve been talking about the benefits of USDT for the longest time. Now everyone is waking up 😆. Stablecoins are getting ready to dominate the crypto world. And why not? Many arguments against crypto adoption are about volatility. Yet stablecoins address that problem. So it’s really no surprise that the transaction volume of USDT has passed $600 billion, increasing by 20% in the last month. USDT is also dragging Bitcoin by the throat when it comes to daily transaction volume. We stan!
De-Ficators, Beware of the Newest Scam🕵🏾♂️
There’s a new scam in town. If you’ve been following the DeFi craze, then you’ve probably heard of Yearn Finance (YFI). Calm down, that’s not the scam we’re talking about 😂. It turns out that there’s a site pretending to be Yearn Finance and get this, it’s “Yaerm Finance”🙄. So the warning goes like this: Please make sure that you are on the real YFI website “yearn.finance”, not “yaerm.finance”. Also, don’t give out your wallet private keys to anybody. Stay safe!
The Bahamas Snatches 1st Place in the CBDC Rat Race
Bet you thought China or the US would be the first country to release a central bank digital currency 😋. But the Bahamas snatched the title while nobody was looking. “ Sand Dollar,” as they call it, became available to all residents of The Bahamas on October. Following closely behind, China is testing its digital yuan with a $1.5 million giveaway. Cambodia is also flirting with the launch of “Bakong,” its digital currency.