This week in Cryptocurrency: 6-29-2020

The biggest news this week was that the PayPal company is planning direct sales of Bitcoin through its Venmo and PayPal payment services. The corporation has around one-third of a billion customers, so any such move could massively boost crypto adoption. A crypto wallet will reportedly also be added to PayPal’s service offerings. However, this report has yet to be explicitly confirmed by PayPal itself.

Bitcoin sales are being rolled out at 7-Eleven convenience stores across America, as well as Rite Aid and CVS pharmacies. The crypto sales service is provided by LibertyX, the Bitcoin ATM company. Buyers will need to undergo basic ID verification in order to make purchases.

The legal battle over Telegram’s TON token issuance within the US has reached settlement, it was reported Thursday. The US Securities and Exchange Commission will demand $18.5 million from the Telegram company if they issue any further tokens over the next 3 years. Telegram was blocked by the SEC from issuing their tokens and has so far returned $1.2 billion of funds raised.

Crypto.com announced that its crypto card services have been temporarily halted across Europe and Britain. The company assured customers that their funds are safe. The issue lies with the company which issues the cards; Wirecard UK’s operations have been halted by Britain’s financial regulator.

Before we conclude, this week’s “Bitcoin quick question” is how many people use Bitcoin?

Well, the correct and honest answer is that no one knows for sure.

However, we can make educated guesses. You see, there are more than 30 million bitcoin wallets with non-zero balances in them. But there are two issues preventing us from knowing the exact number of users:

Anyone can create more than a single wallet and split any Bitcoin they have between them

There are many Bitcoin users who are using a custodian service or an exchange, therefore not holding the funds in their own wallet

According to a 2018 report by Chainalysis, a blockchain analysis company, there was an estimated sum of 7.1 million active users, mostly price speculators. Due to the increase in Bitcoin’s price, it’s safe to say their current estimations must be higher.

That’s what’s happened this week in Bitcoin. See you next week.

Read more: Bitcoin News Summary – June 29, 2020 | 99Bitcoins

 

 

If you would like a step by step guide of how to create a Plug-N-Play Cryptocurrency portfolio built from Bitcoin, Ethereum, Litecoin and many other quality coins (some of which that pay you just to own them!), click the banner below:

 

 

 

Dan Watson and Arkham Industries provide an informational service only and are not responsible for any investments made applying this information. The results described are not typical and are not guarantees of future income. Any investment contains risk and is 100% the responsibility of the investor to assess the risks/rewards involved. It is possible to lose some or all of your investment. We assume no liability assumed or implied for your application of the information shared from the training programs.

I am not a financial adviser and for that reason, nothing I say or write should be taken as financial advice. This information is for informational and entertainment purposes only. I am not the owner of any of the programs mentioned on this website. I am also not connected to the presented websites in any way, shape or form. There is risk involved in trading, mining, lending, staking and investing in cryptocurrency. So any previous payments made by any website or an investment fund do not guarantee that payments will be steady and regular in the future. I am not responsible if a website does not pay out or shut down at anytime. So Join at your own risk. This information is created as per my personal experience. I do not take any responsibility for any losses that may occur. I do not give any financial advise.

Earnings and Income Disclaimer. We make every effort to ensure that we accurately represent these products and services and their potential for income. Earning and Income statements made by its’ customers and/or I are only estimates of what we think you can possibly earn. There is no guarantee that you will make these levels of income and you accept the risk that the earnings and income statements differ by individual. As with any business, your results may vary, and will be based on your individual capacity, business experience, expertise, and level of desire.

 








Leave a Reply

Your email address will not be published.