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Coinbase Adds New Feature That Lets US Customers Purchase Cryptocurrency Through PayPal

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Coinbase now allows US customers to purchase cryptocurrencies using PayPal. In other words, US customers can use bank accounts and debit cards linked to PayPal to buy cryptocurrencies on Coinbase and load the funds in their Coinbase USD wallet.

However, Coinbase said that customers cannot use e-checks and credit cards linked to PayPal to make crypto purchases on the crypto exchange platform.

Coinbase stated that the addition of PayPal in payment options makes buying crypto-assets much simpler and faster as users can instantly fund their crypto purchases with PayPal.

A customer can spend up to $25,000 per day purchasing cryptocurrency through PayPal and Coinbase charges a fee of 3.99%. Furthermore, Coinbase charges 2.5% fees for customers depositing USD from PayPal into the crypto exchange platform.

Customers can link their PayPal accounts to Coinbase accounts and look for the “add a payment method” option when buying crypto through the Coinbase app. Provided that they signed up with the same email for both PayPal and Coinbase, customers are ready to start using the service.

While Coinbase has currently made this payment option available for US customers and it plans to support more nations in the coming months.

 Coinbase already made cash withdrawals to PayPal available in the UK, EU, Canada, and the US.  

Crypto Wins More Mainstream Acceptance

The partnership between PayPal and Coinbase is another sign of cryptocurrency’s increasing mainstream acceptance and to be embedded in at least some part of everyday financial activity and interactions. PayPal started allowing users to purchase Bitcoin, Ether, Litecoin, and Bitcoin Cash on its own platform last year and has gradually expanded the service.

Early this month, PayPal rolled out a “checkout with crypto service” that allows its customers to spend their cryptocurrencies at 26 million merchants worldwide. Recently, PayPal launched a crypto service on its Venmo payment app to let its customers buy, hold, and sell crypto assets for a little as $1. PayPal also plans to enable its customers from other international countries to buy, sell, and hold cryptocurrencies in the near future.    

Image source: Shutterstock Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://Blockchain.News/news/coinbase-adds-new-feature-lets-us-customers-purchase-cryptocurrency-through-paypal

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Nasdaq-Listed Metromile Backs Bitcoin for its Insurance Products

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San Francisco-based Nasdaq-listed auto insurance company Metromile Inc has joined the growing list of companies building the ecosystem around Bitcoin and cryptocurrencies in general.

As reported by Forbes, the company is set to begin accepting cryptocurrency payments from its policyholders while it also asserted its plans to pay out digital currencies when claims are made.

While there are insurance firms already integrating and accepting crypto payments, the move to pay out claims in virtual currencies will place Metromile as the first firm to explore this option, a move CEO Dan Preston noted: “is the next logical step” for the digital insurance platform and its artificial intelligence-powered claims process.

Metromile “launched this option to support the increasing demand for Bitcoin and cryptocurrency payments from our customers. We’ve planned to support Bitcoin for years, but it wasn’t until recently that the technology and consumer adoption of Bitcoin was widespread enough for us to offer this,” says Rick Chen, Metromile spokesperson. Chen added that the date for the crypto options to kickstart the crypto payment options has not been set yet.

In addition to its positive moves with crypto, Metromile announced it will be purchasing a total of $10 million in Bitcoin at a later date in this second quarter, a move that is essential to its proposed Bitcoin transactions. Metromile says it “believes allowing cryptocurrency payments will support its commitment to fairer insurance and promote financial resilience for policyholders as cryptocurrency becomes mainstream and a more significant portion of consumers’ assets.”

Metromile understands the regulatory concerns that surround Bitcoin and says it is ready to work with regulators to profile its new ambitions to get involved with cryptocurrencies. With Metromile, the number of public US firms supporting a wide range of crypto payments is increasing. Elon Musk’s Tesla Inc announced it will begin accepting Bitcoin payments for its electric vehicle products, while Mark Cuban’s Dallas Mavericks accepts Dogecoin payments for its merchandise. 

Image source: Shutterstock Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://Blockchain.News/news/nasdaq-listed-metromile-backs-bitcoin-its-insurance-products

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SEC Chairman Says Crypto Markets Need Regulations to Prevent Fraud

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SEC chairman Gary Gensler said on Friday that greater protection for investors is required in cryptocurrency markets. 

Gensler is no stranger to the cryptocurrency world. The former Goldman Sachs investment banker has long been viewed as a strong candidate to take the SEC chairman role.  

Gensler was sworn in a few weeks ago as Joe Biden’s choice for the next head of the SEC. During Obama’s presidency, Gensler was in charge of the Commodity Futures Trading Commission (CFTC) and was in charge of regulating derivatives.

What makes this particularly interesting is that he will become the first crypto and blockchain expert to hold the highly regarded position. A former MIT professor, he taught a course entitled “Blockchain and Money” and believes the two are a “catalyst for change.” Gensler stated at his SEC nomination hearing:

Bitcoin and other cryptocurrencies have brought new thinking to payments and financial inclusion. But they’ve also raised new issues of investor protection that we still need to attend to.”

Despite his support and optimism, the new SEC chairman also expressed concern about the protections investors are not getting in the crypto asset market. Gensler understands the attraction of bitcoin and other coins, but worries investors are taking on more risk than necessary

“It’s a digital, scarce store of value, but highly volatile,” Gensler says. “And there’s investors that want to trade that, and trade that for its volatility, in some cases just because it is lower correlation with other markets. I think that we need greater investor protection there.”

He believes that as long as technology continues to change the way consumers interact with markets, regulations to protect said consumers have to keep pace. 

He went on to say that he believes BTC is a “speculative” store of value and that the Securities and Exchange Commission should remain “tech neutral” when looking at innovations in markets. 

The new chairman believes there needs to be an official authority for a regulator to oversee digital currency exchanges.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Matthew De Saro is a journalist and media personality specializing in sports, gambling, and statistics. Before joining BeInCrypto, his work was featured on Fansided, Forbes, and OutKick. With a background in statistical analysis and a love of writing, he takes an outside-the-box approach to reporting news.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://beincrypto.com/sec-chairman-says-crypto-markets-need-regulations-to-prevent-fraud/

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The Magnificent Seven: TEL, ETC, QTUM, DOGE, OMG, EOS, LSK — Biggest Gainers, April 30 – May 7

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BeInCrypto looks at the seven altcoins that increased the most over the past seven days, from April 30 to May 7.

These altcoins are:

  • Telcoin (TEL) – 420%
  • Ethereum Classic (ETC) – 295%
  • Qtum (QTUM) – 118%
  • Dogecoin (DOGE) – 100%
  • OMG Network (OMG) – 99%
  • EOS (EOS) – 90%
  • Lisk (LSK) – 74%

TEL

TEL has been moving upwards since April 23. In a span of 13 days, it increased by 1,000%, leading to an all-time high price $0.049. Since then, the token has decreased slightly.

TEL has already moved above the 1.61 Fib projection of waves 1-3, indicating that wave five has extended.

If it decreases, the closest support levels are found at $0.026 and $0.021, respectively. They are created by the 0.5 and 0.618 Fib retracement levels.

TEL Parabola
Chart By TradingView

ETC

ETC began a massive upward movement on May 3, culminating with an all-time high price of $176, reached on May 6. This amounted to an upward movement of 292%.

The high was made right at the 3.61 external Fib retracement of the entire previous decrease, measuring from the all-time high. Afterwards, ETC decreased slightly since and is currently trading at $139.

If the current upward movement extends, the next resistance area would be found at $207, the 4.61 external Fib retracement.

ETC Parabola
Chart By TradingView

QTUM

QTUM has increased considerably this week. However, unlike TEL & ETC, it is nowhere close to reaching its all-time high. 

To the contrary, it is still below the $43-$53 resistance area, which is created by the 0.5 – 0.618 Fib retracement levels. 

While QTUM is likely to reach it, a rejection would be expected once it does, at least in the short-term.

QTUM Upward Move
Chart By TradingView

DOGE

DOGE has been moving upwards since April 23, when it had reached a low of $0.159. As a result, it managed to reach a new all-time high price of $0.696 on May 5, which amounted to an increase of 336%.

The high was made just above at the 1.61 external Fib retracement resistance, found at $0.627, causing a rejection. 

However, DOGE bounced once more after the rejection. 

If the movement extends, there is a confluence of resistance levels found near $0.90.

DOGE Move
Chart By TradingView

OMG

OMG has increased considerably this week, managing to reach a new yearly high of $15.35. Still, unlike ETC, the token is nowhere close to reaching a new all-time high. 

To the contrary, it has just reached the 0.5 Fib retracement level when measuring from the entire downward movement. Consequently, the entire $14.40-$17.75 area is likely to provide strong resistance.

Afterwards, if OMG manages to clear it, it is likely to move towards a new all-time high price.

OMG Movement
Chart By TradingView

EOS

EOS increased considerably this week, managing to break out above the long-term resistance area found at $8. Previously, it had been trading below this level since August 2019. 

As a result, it has managed to reach a high of $13.65, just between the 0.5-0.618 Fib retracement levels. However, it was rejected once it did, and is currently trading near $11.

EOS Breakout
Chart By TradingView

LSK

LSK has been moving upwards since April 23, when it was trading at a low of $3.14. Today, it managed to reach a new all-time high price of $11.50, amounting to an increase of 271%. 

The high was made just above the 1.61 external Fib retracement level of the previous drop. This is the first significant resistance level.

Therefore, if LSK manages to clear it, the next resistance area would be found at $14.57.

LSK All-Time High
Chart By TradingView

For BeInCrypto’s latest bitcoin (BTC) analysis, click here.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo.
In 2019, he decided to focus full-time on cryptocurrencies and trading.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://beincrypto.com/tel-etc-qtum-doge-omg-eos-lsk-biggest-gainers-april-30-may-7/

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Digital Currencies to Be Part of the Future, Says CEO of Rockefeller Capital Management

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With the popularity of digital currencies on the rise, a number of business entities are searching for ways to enter the spade themselves. 

Bitcoin (BTC) continues to stand alone atop the mountain that is a cryptocurrency, for now. Other coins such as ethereum (ETH) have captured the attention of investors after a sharp spike in price.

Even the meme crypto dogecoin (DOGE) has been gaining a lot of traction lately. DOGE recently hit new highs right around the time that Elon Musk began trending due to an upcoming SNL appearance.  

Businesses getting involved

Not only are businesses getting involved, but U.S.-based banks are also clamoring to break into the cryptocurrency world. Reports suggest that these banks will soon allow clients to connect with digital currency lenders.  

Wall Street has already made the move after news broke this week of the S&P Dow Jones Indexes launching three new indices that are designed to track the performance of cryptocurrencies. In the meantime, major payment processors like Mastercard and Visa have started to accept crypto. 

A number of Wall Street firms such as JPMorgan will soon provide investors with bitcoin funds, while Goldman Sachs has launched bitcoin derivatives for investors. Meanwhile, Morgan Stanley will offer high-end clients a trio of bitcoin funds to work with. 

Despite this, some wealth management firms are not entirely convinced of the viability of crypto.

Not ready to offer crypto just yet

At a recent Bloomberg Wealth Summit meeting, both Gregory J. Fleming, CEO of Rockefeller Capital Management, and Sarah Levy, Betterment’s CEO, were questioned about the future of digital currency within the industry. 

“Our view on the whole crypto and digital currency space is that this is a change that is in the early stages, and you see that in the volatility around the price of the different ways of participating in this,” stated Fleming. “It is probably something that is more secular in nature, though. Digital currencies are going to be part of the future.”

Levy was also cautious, but, optimistic about the future of cryptocurrencies. 

“I think we’re in early innings on crypto. I think we’re believers that if we can provide the right kind of context and advice that it’s okay to participate in some of these newer asset classes. And so I’d like us to find a way to responsibly offer crypto but I can’t say that we’re there yet. I think we’re still in kind of watch and learn mode right now.”

While both CEOs are well aware of their client’s desire for investing in digital currencies, they are making the move slowly with a great amount of caution. Neither Levy nor Fleming is ready to offer crypto just yet. 

Despite the CEOs reticence to bring their companies into the crypto game, they both appear to be proponents of the industry itself. Fleming has shown a great amount of optimism surrounding digital currencies, even calling them a “game-changer”

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Matthew De Saro is a journalist and media personality specializing in sports, gambling, and statistics. Before joining BeInCrypto, his work was featured on Fansided, Forbes, and OutKick. With a background in statistical analysis and a love of writing, he takes an outside-the-box approach to reporting news.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://beincrypto.com/digital-currencies-part-of-the-future/

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