Binance & FTX Display Why They Are The Top Dogs

The Number One Reason

In all my years of business, I have seen businesses and even business empires fall due to one common cause, greed! You can easily identify if you suffer from the same problem. Did you set aside cash/stablecoins during 2021 and early 2022? When prices began to drop did you rush to buy what you perceived to be bargains, or did you exercise patience? You can be sure that you would be in a tight spot right now if you owned a business and were exercising bad risk management. I wonder how many have actually sat down and structured their risk management and strategic approach to the Crypto Market. Simply buying something and hoping for it to go up is as close to gambling as you can find in the world of investments. Furthermore, exhausting all of one’s available funds is definitely the behavior of a gambler.

Business Owners With The Wrong Mindset

Likewise, in business, strict risk management needs to be adhered to. However, it seems as if most Crypto exchanges are only paying attention to one side of the coin. Splashing out on massive advertising campaigns and hiring sprees so deep into a bull market is rather foolish, to say the least. It can be equated to advertising an event that has already begun. Did Coinbase and others not factor in the harsh conditions of an upcoming bear market? Let’s be honest, Coinbase has been around and what we are currently witnessing is the result of unbridled zeal. Not only that but also very poor risk management from a company that really should know better.

Binance & FTX Walk A Different Path

Both CZ from Binance, as well as Sam Bankman-Fried of FTX, have publicly discussed how they chose not to give in to the pressure from VCs and others to overplay their financial hand. Both CZ and Sam chose to take the more conservative approach and ignore the external voices. After all, how can anyone outside of the company know what’s best for the business?

This is where CZ and Sam played it cool and simply focused on what they believed to be best. Once again hindsight has vindicated the actions of the wise. Steady organic growth is always the best and most trusted method. Unfortunately, not everyone has the patience and self-discipline to pull it off.

Continued Growth

Binance and FTX continue to grow where it counts because they focus on what really counts. I don’t think FTX has had any issues during these turbulent times. I know Binance experienced a brief issue with BTC withdrawals. I must admit, FTX really has a great platform, from a trader’s perspective. The UI is extremely user-friendly and the majority of withdrawal fees are wavered, apart from ETH and ERC20 withdrawals. It’s good to see even a few industry leaders playing the long game and protecting their companies. Unfortunately, we are likely to see a number of Crypto companies collapse before this bear market is over.

You Need A Smarter Dollar-Cost Averaging Strategy

A Great Strategy

Dollar-cost averaging has been proven to be one of the best and safest strategies for long-term investors. Over time the diligent investor sees returns. Diligence requires a consistent investment strategy. Investors who invest on a weekly or monthly basis generally perform really well over the long run. However, this is a strategy that has its roots in traditional markets. You generally don’t see drops of 95% in traditional markets. Up until very recently, traditional stocks generally didn’t experience the volatility they are currently experiencing. They too may have to revise their approach. Dollar-cost averaging is a great approach for a bull market, or even a sideways market.

There Are Better Ways

I remember taking a lot of flak for shorting from $29K. I got the typical, “you are a bit late” and “you are going to get caught on the wrong side of a short”. Although BTC had already dropped to $25K and since rebounded to $32K, there was a clear short indicator. You don’t short because the market drops but rather because you can see confluence that it will drop. Shorting from $32K was almost a guaranteed trade, provided you have some knowledge and trading experience. I ceased accumulation or dollar-cost averaging the moment the LUNA bomb went off. From the moment BTC breached the $26K/$25k level, the drop to $20K was pretty much guaranteed.

So Which Is Better?

Those that continued to dollar-cost average from $32K are currently not looking so good. If they were buying alts they are definitely regretting it now. Not everyone is open to the idea of shorting and that’s fine but not trading is also a trade. I mentioned to my readers a couple of times that I had ceased accumulation and was allocating passive income into USD. Usually, this capital would be utilized to accumulate alts. However, why on earth would I do that if there is basically a guarantee of capitulation? Would it have not been better to sit on your hands and hold USD? As I mentioned, the signs were pretty clear that the market would suffer further losses, especially alts.

Revising The Dollar-Cost Approach

Once a bear market is confirmed it is wise to redirect funds to stablecoins or cash. Hold these allocations until there is at least more chance of upside. You don’t have to perfectly time the bottom but it is extremely beneficial to avoid the worst of the collapse. For many, this is their first rodeo. Experience trumps opinion and even knowledge. Take it from those who have been here before. When a bear market hits, sit on your hands and wait for the worst to pass. Discounts at the offset of a bear market soon become floating losses and in many cases, realized losses.

The “Quiet Phase” Begins

Human Behavior Is Predictable

The reason why technical analysis is one of the more accurate metrics is that it displays human behavior. Charts are not simply data but more specifically the data and presentation of human behavior over time. This is powerful because human behavior never seems to change. FOMO happens every single bull cycle without fail. So does absolute fear, which often sends the most bullish of investors into an overwhelming state of panic in the belief that the market will collapse completely. We are beginning to see this at the moment. There is also a lot of misinformation in the market at the moment. Instead of approaching authoritative sources, people simply believe what pops up on their Twitter feed as definitive truth.

The Overwhelming Silence

Have you ever been on a battlefield once the battle is over? The earth itself is so silent it is almost deafening. This may sound like a contradiction but is strangely somehow true. Even though a bear market carries on for months after a bottom is established, the battle is fought for that bottom. The battle is not against the bear market but against an opposing force that seeks to take ground. Once a bottom is established the ground is secure. It is from this point that the army must now drive out the enemy troops. In Bitcoin’s case, this is where it attempts to begin edging higher. This is usually a hit-and-miss scenario that plays out over many months. Some months see BTC significantly higher, while at other times the price action ranges closer to the “bottom”.

Builders Enjoy The Silence

A Depressed market provides the opportunity for builders to really get busy. You don’t have to be a dev to build. Building positions, passive income ideas, and other projects that will benefit in the next bull market are all examples of how investors can begin building. Builders generally see better results because their “currency” exceeds the average investor, who seeks only to invest his capital. Builders invest their minds, knowledge, time, and dedication. You will be surprised at how this can sometimes be a better investment tool than capital. This is where the real growth takes place for those who are up for the challenge.

Free From Distraction

Bear markets allow you time to focus and be productive. Remember, a bear market is when and where you display your commitment. A bull market later acknowledges and rewards your efforts. So many want to arrive in the heart of a bull market expecting to “get paid”. It simply doesn’t work that way. If you are new to the Crypto space then you have arrived at a great time. Don’t waste an amazing opportunity.

Don’t Confuse A Bear Market Bottom With The End Of A Bear Market

Even Cycles Have Cycles

The initial stage of any bear market is usually the most deceptive. Oftentimes the market only realizes that a bear market is in play once it has already started. Denial is usually the most common response, which ultimately allows the bear to get its claws in on an unsuspecting victim. Once the claws are in, the market gets dragged down leaving behind it a trail of blood. This is pretty much how bear markets usually play out. However, the worst part of a bear market takes place when a bottom is reached. This is by no means the end of the bear market, it simply means that a lot of the major pain has now been absorbed.

A Further Concern

Even though at this point BTC hits its lowest level in the journey, it does not necessarily imply that alts follow a similar outcome. From here the bear market pushes on and altcoin investors often lose patience. This can mean that alts can continue to edge lower, despite BTC having cemented a bottom. This can also be a bit of a mixed bag in that some may remain relatively stable, while others continue to lose ground over time. Selecting the right alts can be rather challenging, which is why many turn to BTC for shelter even after a bottom is in. Investors then begin to observe the performance of alts before reallocating capital.

Signs Of An Approaching Bottom

In a similar way that investors choose to be in disbelief at the offset of a bear market, they continue to act in a contrary manner. Investors often shift into an overwhelmingly bearish view just before the market is about to bottom. The moral of the story here is that the market is always late. Frontrunning is the only way to truly position yourself effectively in any market.

The winter ahead may indeed be long and cold but it is beginning to look as if we are fast approaching a bottom, which will likely be retested. However, a lot relies on the FED at this point and how they choose to address the overwhelming issue of inflation going forward. Very uncertain times ahead.

The Building Of New Long Positions Begins Soon!

Sticking To The Plan

Working to a strict plan and strategy is always best when trading markets. Markets are irrational at best and if you are not disciplined it can become a rather “messy” combination. My best-case bottom target came very near to being realized overnight. Bitcoin moved into the 20K zone very briefly, only to bounce back into a somewhat more favorable zone. Even though this is extremely close to my target I am choosing to hold out for my target. Further downside will not matter too much for BTC but it will be a final bleed-out for altcoins. Buying alts at these levels is where my interest lies. As mentioned, I have set orders for alts at levels I am very comfortable buying at.

Something To Remember

The bottom may be brief but there will be a long period of “very reasonable” accumulation in the months ahead. For newer investors with a long-term horizon, buying now is a fairly decent entry. It definitely beats buying alts when BTC was trading at $32K, which was only days ago. In any event, it is always important to maintain a cash or stablecoin balance for “swan events” and unforeseen tragedies. Imagine if the market were to experience another LUNA scenario at this point. That would be an absolute bloodbath!

Orders Are Waiting

The building of new long (investment) positions will commence the moment my buys are triggered. I shorted this market down to this point with 3X leverage. I will not only be purchasing new holdings at my estimated target but also opening new leveraged longs. These are “positions”, which means they are built over time. Sideways movements and even further downside do not pose much risk due to my strategy. A fresh season of accumulation is about to begin for me.

A Possible Revisitation

There is a very strong likelihood that the price action visits my target earlier than expected. If this is the case, I believe that it will most likely revisit again at a later point, approximately around the timeframe I mentioned weeks ago. This is somewhere towards September. What I am suggesting is that even if a bottom is reached soon, I expect that bottom to be revisited in September. This is based on technical analysis and has a strong likelihood of taking place. You can only work with what the charts are saying and to go beyond what I have already stated would be to overplay my hand. We need to wait for further price action. At this point, there is still enough confluence to suggest that my bottom prediction is still valid.

Well-Known Analysts?

I have noticed that many of the “popular voices” predicted a bottom of $25K, $23K, and $22K. I have noticed that some have publicly readjusted their target to my target level of $18K to $19K. As I have said, I don’t adjust my analysis because it is unlike the majority. I do my research and then stick to my thesis. Whether it turns out to be correct or not, only hindsight can reveal. We have to weather the storm and do our best to navigate our way through as safely as possible.

My Bitcoin Bottom Prediction Playing Out As Expected… So Far!

There Needs To Be Measurable Points In The Journey

Some argue that it is impossible to predict markets and therefore discourage “trying to time the market”. However, I disagree completely, one needs to have some sort of idea of where a particular market may be in terms of cyclical behavior. All markets and all assets experience bull and bear markets. Euphoria causes markets to overextend and fear causes markets to oversell. A bear market is simply a recalibration prior to the journey continuing. Don’t be afraid of doing research, or analysis because you believe, or are told, it is impossible. A good trader does two things. Firstly, he does excessive research and analysis to try and establish the most accurate possible viewpoint. Secondly, he remains humble enough to reassess his analysis if price action or other expectations deviate.

Somewhat Faster

I know many have been calling for a bottom at $22K in the last week or two. My analysis on which I have based my investment thesis for this bear market bottom began approximately two months ago but I found the mark that I am basing my final move on approximately a month ago. This is the zone of $18K to $19K, revealed in a recent post from early May. This is still perfectly in play.

Image Source – Tradingview.com

The channel I mapped out a month ago was perfectly respected by BTC today. However, this is all unfolding a lot faster than I had previously envisioned. So, what happens now?

Trading Is About Discipline

I mapped out this figure and so I am sticking to it. Today I set orders for alts approximately 30% lower than the current prices. Even though $22K could be the bottom, the macro picture is still encouraging me, as well as providing confluence that this is not over. Bearing in mind that the low experienced today for BTC was only $3K off of my target, I still believe another leg down is on the cards. I see it taking place one of two ways. We either see a solid flash down earlier than anticipated and form a “general bottom” that gets retested over the next few months, or we slowly continue and eventually bleed out to my anticipated target.

It is important to note that I had two bottom predictions. The best-case scenario is at the level I have just mentioned. The alternative point is mentioned in my post from May. This point is approximately $13K and derived from the falling wedge on the weekly. If this wedge is completely exhausted and the entire range covered, that is where we will exit, if we break up. This is a worst-case scenario and would only likely play out in a “swan event”.

What If The Worse Case Takes Us By Surprise?

If I am setting orders for my best-case scenario, what happens if we experience the worst? A lot of my fellow Crypto connections often joke about me! I am the guy who makes a backup plan for the backup plan, compounded many times over. I am going long on ETH between $700 and $900. I am also setting orders as low as $400. These do not have to trigger, it’s simply insurance. Passive income mechanisms will also be utilized in order to continue averaging into alts at “unexpected lows”. I will also still be holding onto an allocation of stablecoins. I never exhaust capital, never.

I Ceased Shorting

In a recent post published on the 10th of June, I stated that I would cease shorting the market between $22K and $20K.

Personally, I will cease opening shorts at approximately $22K to $20K. Even though I am expecting $19K, I would rather play it safe, even if BTC were to go even lower.

We have reached that point, discipline automatically kicks in. Shorting is now over, regardless of lower levels or not! We have really hit this spot at an alarming rate. Things can happen too quickly from here. The ultimate shorting zone was between $29K and $22K. Prior to that, there was too much uncertainty. This was a guaranteed shorting opportunity that I presented in an article on the 16th of May, almost a month ago.

Final Thoughts

Either way, I believe we are in the final stages of establishing a bottom. Please don’t confuse this with the end of the bear market. Furthermore, do not rule out that the bottom could be retested at a later stage, even if it holds. As always, these are my thoughts and views that I am sharing with the broader community. Do not consider this investment advice in any way. All the best, as we push on!

My Early Strategic Preparation For The Current Bear Market

It’s A Bit Late Now

There are many who have been taken by surprise by this bear market and are now trying to put together a strategy for survival. Anyone who knows anything about financial markets will tell you that you have to front-run market trends. There are often jokes made about new retail investors who chase the market as it reaches euphoric highs. They buy the peak and bleed all the way down, finally to capitulate at the bottom. However, not preparing for a bear market is exactly the same mindset. Trying to muster up a strategy at this point is also chasing the market. On the other hand, someone who prepares for a bear market is frontrunning the market.

Buying The Dip In A Bear Market Is Pure Foolishness

As mentioned in a recent post, buying the dip is a bull market strategy. In a bear market, you short the pumps. It’s that simple! Timing exact bottoms is difficult but timing approximate levels is not impossible, provided you have an understanding of technical analysis and markets in general. As mentioned in my post from May, I expect BTC to bottom in the $18K to $19K region. However, as a whole, the entire zone of $22K to $19K would be considered “acceptable”. In other words, you may not be able to discern a bottom but you can definitely avoid buying at $32, $29K, and so on. I am actually quite surprised at how many have actually been buying at these levels. When ETH was above $2200 I offloaded more because I was expecting a lot more downside.

My First & Foremost Preparation Measure

I have been building passive income models over the years and although they produce continuously, I set out with the intention to maximize bear markets. You need to consider that 2022 and 2023 are not going to be great years for Crypto. We may bottom soon but a bear market and a market bottom are two different things. Some tend to think that once the bottom is in we simply shift bullish. The bottom simply reveals that the worst is over. Having these models in place is like having access to free money to buy Crypto.

Many of these mechanisms are dollar-based, making them even more effective in a bear market. So, while prices are in the dust I will have the capital to accumulate throughout this period and beyond. This strategy is extremely beneficial, especially if we see ETH at like $900 and a $20 Solana.

My Second Measure

I chose to rebalance my portfolio in May of 2021, which has turned out to be a great move. Some probably considered my move premature but hindsight has validated it. It was at this point that I shifted almost half of my portfolio into stablecoins. I am still holding cash and stables and choose to only deploy this capital once extreme lows are reached. Not all will be deployed as I have a standing rule of maintaining a stablecoin allocation. What appears to be a great move now, seemed quite foolish when it was initially executed. However, it was merely the discipline of having a plan and staying with it. Most people in Crypto have no experience in markets or trading prior to Crypto. They don’t know anything about risk management, profit-taking, and exit points. This is ultimately the reason for “casualties” in a bear market. Even the knowledgeable and skilled trader will have his work cut out for him, so you can imagine what fate befalls the newcomer.

Time Sensitive

My third measure is more of a response, unlike the first two measures which are more preparatory in nature. Once metrics and analysis confirm beyond a shadow of a doubt that there is still significant downside ahead I cease accumulation and begin shorting the market. This is what I am busy with currently. Aggressive bearish price action might help to create a small relief rally but I would still be looking to short. I will most likely short a relief rally at this point as it remains in line with my own thesis. At the end of the day, I have put in the time to do my own research. I am not going to be making decisions based on a random view or comment that I may encounter somewhere online.

Final Thoughts

Planning your approach and strategy is actually imperative to success. It doesn’t have to be perfect but it definitely has to be in place. You need to have a “protocol” in place. You need a reference point and reaction measures already in place. Without this, you are like a leaf in the market’s wind.

The “Buying The Dip” Strategy Will Soon Return

Utilizing The Correct Strategy

Looking back to 2020 and my article entitled, “This Is Not 2018 – It’s Time To Buy The Dip!” reveals how buying the dip in a bull market is a very smart move. However, the opposite is true of bear markets. Instead of buying the dip, you should be shorting the pumps. That’s how it works. You can try buying dips in a bear market but you will have to be an exceptionally skilled trader. Not exiting a long position effectively and timeously in a bear market will quite simply mean that you suffer loss, or get rekt! Exercising a good strategy at the wrong time is the same as trading without a strategy, for the simple reason that the outcome is the same! In both instances, you are likely to lose and are completely reliant upon luck.

Shorting The Pumps

This is what I have been doing since LUNA did us the favor of definitively confirming the bear market. Up until that point, the opinions were quite mixed. The majority has now realized that this is officially a bear market and we need to see a solid bottom before getting excited again. There are still those living in denial but they are few and far between. You need to execute the appropriate strategy for the season you find yourself in. Buying the dip is a bull market strategy. In a bear market, you simply wait for a confirmed bottom or short the pumps. You just have to be careful you don’t end up on the wrong side of the market. Personally, I will cease opening shorts at approximately $22K to $20K. Even though I am expecting $19K, I would rather play it safe, even if BTC were to go even lower.

Opening New Longs & Fresh Accumulation

This will take place at the same time that I cease shorting the market. I will look to begin meaningful allocation at this point. Outside of another swan event, I don’t see BTC dropping significantly below $20K. However, I am only able to work with what the charts are currently showing. There is the possibility of $13K from a technical point of view but that is still an extreme case in my opinion. I think Cardano will be a great buy at this point. I was not that interested in Cardano previously due to it being completely overvalued in my opinion. BTC at lower levels could very well usher in a Cardano price under $0.25.

Volatility Post Bottom

Even after establishing a bottom prices will continue to be volatile. There may well be periods of boring sideways action but there are also likely to be sudden and violent moves. Bitcoin will most likely range between $30K and $60K throughout 2023. I am personally not expecting new all-time highs prior to 2024, although I will be happy to see new highs arrive earlier. As I am writing it looks like ETH is about to lose the $1700 level. Expect a bloodbath if it does. Stay focused and conduct your own research, as this is not financial advice, merely my views.

Leverage The FUD Surrounding Coinbase & Celsius

It’s No Secret

I had actually wanted to write about exchanges surviving a bear market some time ago but never got around to it. The funny thing is that oftentimes exchanges and similar-styled Crypto businesses often manage to survive the majority of a bear market. What you often find is that exchanges begin shutting down just as the Crypto winter begins to thaw out. This is sad but simultaneously also an indicator that the end is in sight. In the last bear market, we saw smaller exchanges like TradeSatoshi and others shutting down during the final stage of the bear market. These were great little exchanges that offered some great trading opportunities due to a number of factors. However, these were small exchanges and it makes sense how eventually they would have to capitulate.

Industry Leaders

Companies like Coinbase and Celsius are on another level entirely. Rumors of insolvency are most likely over-exaggerated and even if there is an element of truth to them there are ways they can avoid destruction. You also have to consider that as the industry matures traditional traders and investors begin looking for weaknesses they can exploit. It is public knowledge that Coinbase and Celsius in particular were targeted by short sellers for obvious reasons. Trading activity declines significantly in a bear market and in Celsius’ case, hodlers require capital. Many also choose to sell their holdings with the intention of repurchasing them at a later stage. These factors all contribute to a general decline in productivity and volume. No matter the sector, all companies suffer in a bear market.

More Than A Token

A company like Celsius is not just a Crypto project. Celsius is a registered entity with staff and mining operations. The company recently invested $100 million into Crypto mining and is continuously looking for attractive growth opportunities. A company requires a certain level of productivity to remain relevant. It is important to note that there is a lot at stake and extreme measures will be taken, if necessary. The FUD together with the short-selling has created an opportunity of great proportion in my view.

A Risk Worth Taking?

So, the question one needs to ask is, how do I take advantage of this opportunity? You can always simply pick up the Celsius token or choose to earn CEL on some of your existing assets. Holding stablecoins or altcoins with Celsius enables community members to earn rewards in CEL. With the price of CEL being down so heavily users can receive up to ten times the amount of CEL tokens as they would have received at ATH levels. In this way, investors are able to utilize existing assets in order to earn an altcoin that will most likely rebound very strongly once the bear market subsides. It is also important to note that CEL was one of the best altcoin performers in 2020 and 2021! Obviously, there is always risk involved but the risk/reward ratio appears relatively favorable in my opinion.

Coinbase?

Coinbase is a listed company and therefore implies the purchasing of shares. I am not too keen on traditional stocks at the moment but it is also an option. Remember, FTX offer tokenized shares that can be traded 24/7 for those not actually wanting to open a traditional account with a platform like Robinhood. These industry leaders have an extremely strong chance of bouncing back. I executed a similar strategy in the crash of 2008 when stocks got pummeled. Old Mutual got absolutely decimated and I immediately saw an opportunity. I knew that as an industry leader, Old Mutual would somehow survive or be bailed out if necessary.

A Level Of Safety

Investing in an industry leader has the greatest chance of recovery and ultimately securing gains. Sure, a smaller project will likely offer a better yield, provided it recovers. The “99% of altcoins will die” narrative is nonsense in my opinion but there will be a lot of projects that simply don’t make it! Consider your investment decisions and do your own research. This is by no means investment advice. Celsius has an ongoing promotion, simply deposit $400 or more and receive $50 in free BTC. Deposits need to be held with Celsius for a minimum of 30 days to qualify for the $50 bonus. Use the code: 188954e8a2 to qualify for $50 in Free Bitcoin!

Conclusion

One needs to have different levels of investment exposure in terms of risk. The majority should be in the safest possible allocation with diminishing amounts as risk increases. Please seek the assistance of a financial advisor in regards to your Crypto investments if needed. This is not financial advice.

PayPal’s Non-Custodial Enhancement Will Assist Adoption

I Am Quite Surprised

I must be honest, I did not envision this day coming, or at least not so soon! One of the reasons is that by not allowing direct withdrawals to non-custodial wallets, the platform and the government benefit. People earning “PayPal cash” are either forced to hold their Crypto assets on the platform or withdraw their cash and purchase the assets elsewhere. Furthermore, previously being unable to send Crypto outside of the PayPal infrastructure forced Crypto holders to initiate a tax event. If you cannot send it out then you have to sell it. Well, it appears that this has now changed. The following excerpt is taken from the PayPal Newsroom and was published on the 7th of June.

Allowing PayPal customers the flexibility to move their crypto assets (Bitcoin, Ethereum, Bitcoin Cash, or Litecoin) into, outside of, and within our PayPal platform reflects the continuing evolution of our best-in-class platform and enables customers to interact with the broader crypto ecosystem. Customers who transfer their crypto into PayPal can extend the utility of their crypto by spending using our Checkout with Crypto product at millions of merchants.

I am not too familiar with PayPal’s fee structure when it comes to Crypto. However, this is still good news, especially for those wishing to convert their PayPal earnings into Crypto.

Convenience & Adoption

PayPal has been the primary payment method for online workers and business owners for many years now. Etsy is a good example of how shop owners have utilized PayPal as a form of payment. There is an already established army of people earning “PayPal cash” and now they have full access to the Crypto economy. Being able to buy and hold Crypto on a platform is only half of the story. People want to be able to move it to a private wallet and utilize it for payments. I don’t think the original PayPal offering was attractive at all. As mentioned, creating a tax event every time you want to move your capital is highly unattractive. Furthermore, if you wanted to keep your Crypto, you had to sell it first. You then had to move the cash to a bank account, fund an exchange, buy the Crypto and later send it to your own wallet. This is not user-friendly at all and most likely deterred interested parties.

A Step In The Right Direction

The recent implementation from PayPal has now removed all of this unnecessary inconvenience and PayPal users are now able to enjoy a more comprehensive Crypto service. The only thing that could perhaps be an issue is the fee structure. I can’t comment on this as this upgraded service is only available to US users at this stage. That being said, at least US users can now receive Crypto in their wallet, as well as send it out to external wallet addresses. This is definitely what you want to be seeing when it comes to third-party Crypto services. PayPal users are now much more likely to purchase a bit of Crypto from time to time. Crypto enthusiasts are now also more likely to make use of platforms that offer PayPal services. These opportunities were previously avoided due to the fact that Crypto earnings could not be withdrawn to a private wallet.

Final Thoughts

All in all, I am quite impressed by this recent development. I really didn’t see this one coming! I think it could really add a lot of transaction activity on blockchains and serve to validate the importance of Crypto. The stronger the adoption becomes, the weaker the opposing voices become.