If you want to make the most of your crypto investment, then you have to be in the know. You are not supposed to stay unaware of what’s happening in the industry. Smart investors always keep track of the latest updates.
Here are a few noteworthy updates that you might have not known so far:
Venmo Starts Accepting Crypto
A wide range of companies has started accepting Bitcoin as a payment method. Venmo joins them by announcing its viability for cryptocurrency.
On April 20, 2021, the company officially announced that they are going to accept virtual currencies after seeing great demand from the public.
Business analysts are hopeful to see an upsurge in Venmo’s overall demand after this key decision. For those who don’t know, Venmo is the leading digital wallet used to make online payments.
PayPal is Open to Crypto
Following the footsteps of Venmo, PayPal also announced that it’s open to accepting cryptocurrency. The globally recognized online payment method made this announcement on March 30, 2021, as per the cryptocurrency news today.
Now PayPal users can make online payments at thousands of online merchants globally. You don’t need to have US Dollars to make purchases. You can use digital currencies at the checkout instead.
Tesla and Crypto
Earlier this year, Tesla announced that the company will be accepting Bitcoin as a payment method. Current cryptocurrency news says that Elon Musk took a U-Turn after a couple of months and stopped accepting Bitcoin.
Tesla’s CEO stated that rising energy consumption in Bitcoin Mining is the reason why the company has decided to step back from its decision. Mining machines installed in China and the rest of the countries consume a lot of energy. The globally renowned car company is likely to start accepting Bitcoin again once the global power consumption on Bitcoin mining comes to a lower stage.
Michael is a cryptocurrency blogger who writes about the latest developments in blockchain technology. He has been blogging for over 4 years and his posts have been read by people from all around the world. His blog covers a wide range of topics, such as trading advice, new ICOs to invest in, and how blockchains can be used outside of cryptocurrencies. Michael also enjoys writing about more technical aspects of cryptocurrencies and blockchain technology.