PayPal Follows Bitcoin Startups, Laying Foundation for Crypto Payments

Key Takeaways PayPal’s recent entry into cryptocurrencies has renewed growth in Bitcoin’s payment narrative. Companies like BitPay, Lolli, and Honey have been laying the groundwork for Bitcoin payments through free rewards, merchant partnerships, and institutional products. Share this article The latest swarm of billionaire investors have bought Bitcoin for one reason: Its store of value narrative. Still, with the arrival of PayPal, the original peer-to-peer electronic cash may find renewed strength as a medium of exchange.  Invoicing PayPal With Bitcoin  PayPal’s entry has made a huge impact on the crypto…

4 tips to avoid phishing attacks

According to data provided to Cointelegraph by CipherTrace, roughly 85-90% of crypto owners fall prey to common crypto theft schemes, including phishing traps. How can the average crypto user identify and avoid these attacks to prevent the potential loss of funds? Know the source Phishing emails are sometimes successful in their attempts to trick users into downloading programs, clicking on something they shouldn’t, or just linking them to a page where they can enter personal information like their seed phrase. In July, hardware wallet Ledger reported a data breach that…

XRP price rallies 91% in a month due to 3 fundamental factors

In the past month, the price of XRP rallied 91% as the digital asset at last found some spark and is now playing catch up with Bitcoin (BTC) and Ether (ETH).  The likely catalysts for the XRP rally are the rise in unique addresses, buybacks from Ripple, and the possibility of a new product realease. XRP/USD weekly chart. Source: TradingView.com Unique XRP addresses increase On-chain data can be useful for depicting the overall sentiment around a cryptocurrency as it accurately reflects the activity taking place in the blockchain. In the case…

Biden plans for former Fed Chair and noted Bitcoin bear to lead US Treasury

As President-Elect Biden continues to round out his roster of appointees, he has tapped an Obama-era chair of the Federal Reserve to lead his administration’s economic policy. According to a Wall Street Journal exclusive published on Nov. 23, the Biden team plans to nominate Janet Yellen to serve as Treasury Secretary. Obama originally appointed Yellen to the Fed in 2014, where she remained until early 2018.  In a term that lined up with a massive expansion of public knowledge of cryptocurrencies and ended right after Bitcoin’s dramatic 2017 bull run,…

Putting data on blockchain doesn’t mean it’s correct

Until recently, the use of blockchain in elections was perceived as nothing more than an experiment. However, during the recent United States presidential election, some tried to turn the public’s perception of the possibilities of blockchain technology. For example, the Associated Press, one of the largest U.S. media outlets, published the election results on the Ethereum and EOS blockchains.  Does this results call, however, suggest that the time to use blockchain in elections has come, and does it make sense to use the technology if the information source is centralized?…

Crypto users speak out on proposed change to FinCEN Travel Rule

Since the U.S. Federal Reserve and Financial Crimes Enforcement Network opened a proposed rule to acquire more information on smaller international transactions, many crypto users have labeled the measure as an invasion of privacy. On Oct. 23, the regulatory agencies published a notice of a proposal to modify a long-standing rule in which financial institutions in the United States are required to exchange client information for all international transactions greater than $3,000. The proposal — which includes “transactions involving convertible virtual currencies and digital assets with legal tender status” —…

Exchange outages and trader outrage

Coinbase appears to have a capacity problem. Users have pointed out for years that when Bitcoin and other crypto assets are especially volatile, the exchange sometimes goes offline without warning. These outages can prevent customers from buying or selling their crypto assets, and are generally viewed unfavorably by traders. Between March and November 2020, the exchange recorded nine different issues leading to various types of outages or connectivity problems, although direct customer impact is somewhat unclear in some of the instances. The issues seemingly range in their degree of severity.…

US Fed researcher says CBDCs should beat Big Tech payments on privacy protection

Cash usage has lost a ton of ground to digital payments as the pandemic has changed the way people transact worldwide. Some experts have recently argued that central bank digital currencies could solve the problem of leaving that payments data in the hands of major tech platforms. In a blog post published Monday morning, Federal Reserve of New York researcher Michael Lee and University of California Santa Barbara economics professor Rod Garratt expounded on a paper they released earlier this month.  The authors point to tech firms’ troubling usage of…