Altcoins May Be Top Сrypto Gainers Thanks to Paypal Listing: Russia Today's Ben Swann

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Fri, 06/26/2020 - 12:56
Vladislav Sopov
In a recent episode of the Boom Bust on Russia Today, experts discussed the potential influence on the market if PayPal implements cryptocurrency remittances
Cover image via stock.adobe.com
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Ben Swann is an American TV host and investigative journalist. Recently, he emphasized the unexpected effect of PayPal's potential plans to add cryptocurrencies to their payment instruments.

Some altcoins would be lucky

Mr. Swann emphasized the gargantuan size of PayPal's user base, which exceeds that of Coinbase and Binance by orders of magnitude. But the main issue is which exact cryptocurrencies may be listed by PayPal.

Image via YouTube

According to him, the set of altcoins that would accompany Bitcoin (BTC) in PayPal wallets is worth looking at. Getting listed there would definitely be a good catalyst for a token's price.

If you are an altcoin and you manage to get into PayPal platform, it would send you skyrocketing.

Another expert on the program, Christie Ai, outlined that in terms of regulatory approval and business development, the altcoin listing could be really difficult for application.

The hosts added that U.S. regulators lack a consensus on the legal status of Bitcoin (BTC). Some agencies treat it as a currency, while others see Bitcoin (BTC) is a property.

Is Coinbase supremacy on borrowed time?

As covered by U.Today, the digital fiat payment platform PayPal and its mobile subsidiary Venmo, reportedly, are planning to launch cryptocurrency payment instruments in the next three months.

Direct buying and selling features may be implemented into the in-app functionality.

Some cryptocurrency experts suppose that this revolutionary launch - should it be confirmed - will put an end to the leadership of Coinbase in the American segment of the crypto sphere.

According to major XRP proponent Anders Lundberg, every Coinbase user that has already passed KYC checks on PayPal will use their service instead of the oldest American crypto exchange.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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