This is the Right Time for Bitcoin Cs – Blockchain Media Indonesia

Dan Schulman, CEO and President of PayPal said that this is the right time for crypto assets (Bitcoin Cs) to enter the mainstream (mainstream) everyday payment system.

This was conveyed by Schulman in the Web Summit on Wednesday (December 2, 2020). The online meeting was watched by more than 100,000 viewers.

“We anticipate crypto assets will soon enter the mainstream and become a means of everyday payment. The global corona virus pandemic has accelerated various trends, such as consumers leaving cash increasingly behind, “he said.

In his opinion, if we can create a financial system, new and modern technology that is faster, cheaper and more efficient, that would be great for bringing more people into the system, helping to improve their financial health.

“So, in the long term, I am very optimistic about all types of digital currencies,” he said.

Previously in October 2020, PayPal announced that it opens a trading service for crypto assets, including Bitcoin in the application.

PayPal Invites US Citizens to Buy Bitcoin in its Application

Several months ago the citizens of the United States (US) were able to taste it. In the next year, 28 million merchants worldwide can use it.

Schulman said before the service was launched, PayPal conducted research, which showed that 54 percent of PayPal users wanted and some had used crypto assets to transact.

“Our digital wallet is a natural complement to embracing crypto assets,” he said.

The use of a number of crypto assets in the PayPal application, is not only like ordinary buying and selling, but as an alternative method of payment for goods and services.

Buyers who have Bitcoin in the PayPal application, can use the crypto asset to buy products on merchant which supports. Next, merchant do not accept Bitcoin, but in the form of dollars or currency fiat which is supported. So, the application automatically converts the exchange rate.

This method is considered effective, because the buyer holds value Bitcoin cheaper than when he first bought it, then transacted it for goods and services at a certain price in dollars.

Crypto asset transactions in everyday life are considered effective in increasing the adoption of crypto assets themselves and ensuring higher levels of liquidity, although it is estimated that Bitcoin prices will continue to soar, after November 30, 2020, then breaking an all-time high. [red]