The use of cryptocurrencies on a day-to-day basis is getting closer to being a reality. On October 21, Paypal announced via twitter its entry into the cryptocurrency market, with this, all PayPal customers will be able to buy, sell, keep or use these as a form of payment in all affiliated businesses. The supported startup tokens are: Bitcoin, Athereum, Bitcoin Cash and Litecoin.
After Paypal's announcement, Bitcoin surpassed $ 13,000, thus reaching its highest peak of the year. It is undoubtedly a great step for bitcoin, since today PayPal has more than 346 million registered users around the world and transacted more than $ 220,000 million in payments only in the last quarter of 2020. This Paypal service of At the moment it will only be available in the USA, but it is expected to expand to the rest of the markets in early 2021.
But what are cryptocurrencies? They are a monetary system that does not obtain their value from the material they are made of or their physical utility, but rather from an institutional agreement and their importance in the market. There are hundreds of different cryptocurrencies, their name refers to their encrypted nature, which means that they are "data protected by a key", this makes them difficult to alter and hack, which makes them very safe and attractive.