Online payments giant PayPal will start to accept cryptocurrency as a medium of exchange at its millions of global merchants, the firm’s president and CEO revealed on Tuesday ahead of a formal announcement.
On March 30, news broke about PayPal’s alleged decision to consider cryptocurrencies. Later that day, the company’s CEO, Dan Schulman, stated to Reuters that the rumours were accurate and that an official statement will be issued shortly.
The new system is expected to feature a crypto checkout service where users can pay for goods and services at approved vendors using their stored coins. As it launches, the checkout app will be usable for all four of PayPal’s approved cryptocurrencies: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). Customers who pay for coins would not be charged any conversion costs for orders, although only one cryptocurrency may be used each transaction.
It’s called Sharetip and I had the chance to try it out. I tipped someone on Medium with Bitcoin Cash and it was pretty smooth. Basically, on any platform, it’s like a self-serve tipping tool that you can use. Imagine tipping anywhere on Youtube, Twitter. And it is difficult to censor because, instead of a bot, the user notifies the creator themselves. We got the inside scoop from the creator of Sharetip at news.Bitcoin.com and asked some key questions.
Sharetip is an attempt to make Chaintip much more prevalent by allowing individuals to tip content hosted on any URL and it is not at the mercy of another platform shutting down. Sharetip is not a user of a bot on other platforms, but is itself a platform. An external account (say the Twitter account of a news article’s author) is linked to the content to be tipped (the news article) and the creator of that content claims the tips to the content by proving they own the external account.
Industry experts suggest that such an impressive surge is due to BCH’s April “halvening” event, which is scheduled for 8th of April. The bitcoin fork led the way in the market cap top ten, as the broader cryptocurrency market experienced a $12 billion influx.
It is reported, that Last twenty-four hours cryptocurrency markets showed that Bitcoin (BTC) hit new lows not seen in over a year, assets across the board lost millions. According to data from Cointelegraph’s price tracker, Coin360, CoinMarketCap, and Bitcointicker there was fixed high activity as BTC/USD dropped up to 17 percent, at one point reaching $4,237. Bitcoin’s daily losses currently total 15.5 percent after a correction to around $4,500, while the situation remains highly unstable as the pair shows new resistance levels.
Last week the bitcoin cash price went below $550 against the US dollar. There was a spike below the $500 level when the price was at $498, but after the appearance of buyer’s price went back up to 500$. Later, bitcoin cash price has moved above $515 against the US Dollar. Presumably, BCH/USD will continue to grow.
Following the news that that Bitmain filed for an initial public offering (IPO) on the Hong Kong stock exchange, the price of BCH surged almost 20%, now trading at around $522. Experts suggest that the key driver behind the rise of BCH was the financial report released by Bitmain as part of the prospectus for its upcoming IPO. But critics note that the half-year numbers obscure the fact that Bitmain recorded significantly lower results in the second quarter, which reflected the impact of the bear market.
An over-the-counter brokerage and virtual ATM software company, Netcoins, announced that BCH is now available for immediate purchase. BCH is now 7th coin available via Netcoins, providing investors a convenient solution network for all their crypto needs, whether via OTC or via retail network. The app has been on the market for three years and provides users with a platform that allows them to have a Bitcoin ATM without having to buy a machine. The application can work on a smartphone or tablet allowing merchants to offer the sale of Bitcoin without the substantial costs involved with the purchase of a device or the physical space needed within the store.
According to the report issued by Bitmain’s strategic director for the potential investors, the company sold a large part of its Bitcoin funds and increased its positions on Bitcoin Cash. Taking into account the continuing deep correction in the digital currency market, the mining company has suffered significant loses, as the average BCH price in its IPO documentation stays at $869 (31 march), whereas today’s average rate is $587 (Coinmarketcap).
The commission-free stock trading app Robinhood added full support for bitcoin cash and litecoin to its nascent cryptocurrency trading service, which is currently available in 17 U.S. states and heretofore facilitated bitcoin and ethereum trading. The company also announced that it plans to add support for coin transfers, likely confirming reports that the company is building an in-app cryptocurrency wallet.
ViaBTC, the second largest bitcoin cash mining pool overall, announced their support of the “Miner’s Choice” initiative, devised by CoinGeek and nChain. This plan encourages urges miners to remove the dust limit and begin processing a set number of zero-fee transactions. The Miner’s Choice now has support from over 25% of total Bitcoin Cash hashrate, which means that significant changes are inevitable for the BCH network.