If you are new to this whole crypto thing, here are 7 crypto updates you should know.
7 crypto updates
1. PayPal allows buying and selling of crypto currencies
PayPal is one of the online money platforms that has embraced cryptocurrencies. The app allows you to buy and sell cryptocurrencies from the comfort of your home. In addition to this, you could use your phone and use the app to invest in crypto. The app allows users to invest in
- Bitcoin cash
The app has allowed its users to buy and sell crypto for as little as $1.Customers with personal PayPal accounts can buy, sell and hold cryptocurrencies. However, the service is not available for business accounts and Hawaii.
No fees are charged for holding the cryptocurrencies. However, transaction fees still apply when you buy and sell cryptocurrencies. You also cannot also use crypto to pay or send money on crypto.
The service is currently available in the US only with the exemption of Hawaii. Moreover, all trades have to be executed in US dollars.
2.Bitcoins 7.4% fall
In one of the most recent crypto updates, bitcoin fell 7.45 to approximately$ 40,632.This is from its former price of $47,989 at the start of the year. Ethereum on the other hand fell at 7.43% to $2891 by Thursday. The fall of Bitcoin has been attributed to the ongoing tension between Russia and Ukraine. Investors are worried about the inflation levels that would arise from the conflict.
3.Ukraine has passed a law to legalize Bitcoin
Ukraine has been added to the countries that are embracing cryptocurrencies. The country passed into law a bill that legalized cryptocurrencies. More than 270 legislators approved this. They made the national security commission its regulator.”Ukraine is already in the top 5 countries on cryptocurrency usage.”Read a tweet from the deputy prime minister. The bill however does not make bitcoin a legal tender.
4.Intel launches an energy efficient chip
Intel has finally launched an energy-efficient chip to help with blockchains. The chip is designed to speed blockchain tasks. The chip was launched on Friday and has already gotten potential customers. Block inc will be one of its first customers after its shipment sometime this year.
5.Binance partners up with K-pop talent urgency
Binance has partnered up with K-pop to increase its influence on the blockchain market. K-pop is an urgency attributed to stars such as Black Pink. Binance on the other hand is one of the largest cryptocurrency exchange platforms. Additionally, the two companies signed a memorandum that will see the creation of games and applications used to transact digital currencies.
6.5IRE raises $ 100 million
5ire, a blockchain startup has raised $100million from GEM.5ire is the first sustainability blockchain with an exchange wallet. Moreover, the funds will help in growing other similar projects.”I am very excited to partner with GEM and looking forward to finding synergies on how further we can promote our vision.” said the co-founder, Pratik Gauri.
7.Bank of Russia threatens to burn cryptocurrencies
The bank of Russia proposed banning cryptocurrencies. This is because it threatens the country’s financial stability. The bank seeks to ban the trading and mining of crypto. However, many legislators and the president seem to disagree with this move. Moreover, the country is seeking to look for a consensus on the matter.