Another FinTech Company to Invest in Bitcoin 0 107

The Crypto-Blockchain Firms to Gain Investment Boost in Switzerland and South Korea

The year 2020 has proven to be the best and essential for the cryptocurrency industry. In the running, almost every major and mediocre cryptocurrency has benefitted from this year. The main reason behind this has been none other than the COVID-19 pandemic.

As a result of the virus outbreak, the entire world’s population went under extreme lockdowns and curfews. The companies/industries had to shut down their product units, which led to millions of people becoming unemployed in a matter of days.

As the lockdowns and curfews went on for several months, it became impossible for such people to leave their houses and look for employment. When it comes to the economy, this year has proven out to be the worst in the 21st century.

It should the entire world how weak the financial and economic sectors and showed us the true colors of the cryptocurrency industry. This year alone has observed an influx of millions of desperate investors who wanted to achieve monetary gains from investing in cryptocurrencies.

In a matter of 10-11 months, the number of investors in the cryptocurrency has tripled and more investors are expected to join in the running year. Among all the digital-assets being traded in the entire crypto-industry, Bitcoin (BTC) has been considered as the dark-horse in the world economy.

Just a few years back, almost all the financial institutions from around the world opposed Bitcoin (BTC) and its market worth. On several occasions, Bitcoin (BTC) was targeted by the regulatory authorities and major financial institutes.

However, Bitcoin (BTC) managed to fight off all the odds and has shown an upward trend throughout the year. Now, the majority of the major financial institutions have started changing their opinion about Bitcoin (BTC) and the rest of the crypto-industry. The perception of BTC and other cryptocurrencies has changed significantly due to their contribution to the world economy.

The biggest announcement was made by PayPal back in October when it revealed that BTC will be integrated as one of its payment methods. That is when the price of BTC went sky-rocket and at the time of publishing, Bitcoin (BTC) is at its all-time high price of $27,000.

Looking at the potential of Bitcoin (BTC), another financial technology company known as Mogo Inc. has also expressed its intentions of investing in Bitcoin (BTC). Mogo Inc. also operates as a Canada-based Bitcoin (BTC) trading service under the name MogoCrypto. The firm recently revealed that it is planning to make its first Bitcoin (BTC) for $1.5 million.

The company revealed that in the year 2021, it plans on making another investment of around $17 million. The company has confirmed that the $1.5 million investment would represent Mogo’s 1.5% worth of assets from its entire portfolio.

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Dogecoin Successfully Makes Its First Entry in Indian Crypto Industry 0 10

Dogecoin makes a massive entry into the Indian crypto industry and makes record sales at the majority of Indian crypto trading platforms, including Binance, backed by WazirX.

India is one of the rapidly adopting crypto countries of the world. However, the country is currently undergoing the worst of them all pandemic crisis. The number of corona-infected patients in India reportedly been exceeding 400,000 on daily basis. It is reported that there is an acute shortage of oxygen and necessary medical supplies. The number of death counts is presently the highest compared with other countries of the world.

However, even in the hardest times ever, the Indian crypto industry has wholeheartedly welcomed the famous meme coin, Dogecoin. It was reported that Dogecoin has successfully made its way into the locally operating crypto trading platforms of India. It was reported by several Indian crypto exchanges that they are able to make record sales of Dogecoin. They said that prior to the coming of Dogecoin in the Indian crypto market; they were not expecting such an overwhelming response.

WazirX, which is the largest crypto trading platform in India, informed that they are receiving huge numbers of Dogecoin requests. The demand is so high that it caused a temporary blockage of services at WazirX, told exchange operators. WazirX apprised that the system failed to respond because it was faced with a high number of requests, which it had never seen before. Resultantly, WazirX customers were unable to execute their Dogecoin trading transactions and grew frustrated.

Thereafter the customers took their complaints at Twitter and criticized WazirX. However, WazirX then clarified the present situation and successfully calmed down its customers.

CoinSwitch Kuber that its Dogecoin trading volume has surged by 200% on monthly basis further recorded it. However, the firm noticed that the major surge of 1300% was caused in less than two weeks’ time alone.

It is said that the present Dogecoin surge is because of Elon Musk’s upcoming appearance in a TV show called SNL. Some days ago, Musk revealed that he has been invited to a short gig, which will be broadcasted on SNL – an American TV show. He revealed that in his SNL appearance he would be discussing the meme coin.

It has been confirmed by WazirX that in less than 24 hours’ time, it has managed to trade Dogecoin for 600 Crores in Indian Rupees. While CoinSwitch Cuber reported that, its single-day Dogecoin trading volume successfully hit 100 Crores in Indian Rupees.

It is intriguing that simultaneously almost all Indian crypto exchange platforms have integrated Dogecoin. However, still, there are a few trading platforms that have deliberately refrained from enlisting the meme coin. For instance, ZebPay is one of those Indian crypto platforms that has not inducted Dogecoin. The company was of the view that when the time will come, they will adopt Dogecoin but not now.

PayPal’s Role in Boosting Mainstream Adoption Rate for Cryptocurrencies 0 9

PayPal’s Loud Shout Regarding BTC Reaches The Wall Street; says Novogratz

By 2020, it had been 11 years since the cryptocurrency industry had made it to the online platform. An industry with no physical existence was mainly decentralized, as well as unregulated had been struggling to make its presence known.

It had taken the cryptocurrency industry much hard work and effort before it finally became an attractive asset for individual investors and minor businesses.

However, the cryptocurrency industry was desperately after one particular thing. The cryptocurrency industry wanted to be embraced by the mainstream institutions industry.

The mainstream institutions consist of the real game-changers that have the potential of causing rifts in the global economy. They are literally the entities that control the way the world’s economy operates and they have the power to steer it as well.

In the year 2020, when the cryptocurrency industry gained true recognition among investors, it still struggled to get the attention of mainstream institutions.

That is when a mainstream institution called MicroStrategy, went ahead and started investing in Bitcoin (BTC). Even if MicroStrategy invested in the largest cryptocurrency and not all cryptocurrencies in the crypto-verse, it still made a huge difference.

As Bitcoin (BTC) ended up picked up by MicroStrategy, the mainstream industry paid somewhat attention to Bitcoin (BTC). If mainstream industry took interest in Bitcoin (BTC), then they would definitely explore the entire crypto-verse.

However, still not much was coming towards the cryptocurrency industry from mainstream institutions. That is when PayPal announced in October of 2020, it had integrated major cryptocurrencies on its platform. The online payment services giant announced it had adopted major cryptocurrencies so its users could buy and sell them.

That was the time when mainstream institutions from all over the world paid attention to cryptocurrencies for the first time. Since then, the cryptocurrency industry has only shot up and has gone on to achieve all-time highs.

Even the companies that had their stocks listed on the stock exchanges and were somehow linked with cryptocurrencies reported their stock prices started rising following PayPal’s announcement.

Then mainstream institutions kept coming in one after another showing their interest in cryptocurrencies, and how they wanted to invest in them.

PayPal was the very reason that the cryptocurrency industry for the first time was introduced to 334 million users, through PayPal’s user-base.

After that, companies such as Tesla, Twitter, MassMutual, Rothschild’s Investment Corporation, and many more have invested heavily in cryptocurrencies.

Afterward, PayPal even launched an application called “Venmo” that was dedicated to cryptocurrency trading. Then PayPal announced it had enabled major cryptocurrencies on its platform for the users to be able to pay in cryptocurrencies for acquiring services.

No matter how much any entity may brag about having a huge role to play in boosting mainstream adoption of cryptocurrencies, PayPal’s role in this space can never be denied.

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