Staking is one of the most popular ways to generate passive income using cryptocurrencies that run on the Proof-of-Stake (PoS) consensus algorithm. It has a relatively low threshold of entry, and on top of that, by betting on digital assets, you are helping to support the blockchain network. So it’s a win-win situation for both parties.
Ethereum Hits New High, Bitcoin Finishes Its Best Quarter Since 2013 – Weekly Summary
The price of Ethereum stormed the psychological level of $2,000. On February 20, the cryptocurrency updated its all-time high at $2,040, after which it fell below this level until April 2. On Friday, the quotes of the second most popular cryptocurrency reached a new all-time high of $2,080.
Bitcoin broke through the $60,000 mark, but failed to hold it. This week, the first cryptocurrency closed its best quarter since 2013, gaining 102.9% in price from January to March 2021. In 2013, over the same period, BTC has risen in price by more than 6 times, although then the price did not exceed $100.
According to CoinGecko, the cryptocurrency market capitalization is approaching $2 trillion. The TOP-5 in terms of capitalization after Bitcoin and ETH are Binance Coin, Tether and Cardano. Polkadot and XRP are ranked sixth and seventh respectively. The BTC dominance index dropped to 56.4%.
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Former SEC Chairman Jay Clayton said there will be regulation for bitcoin too. According to him, digital gold was not subject to regulation because the US Securities and Exchange Commission did not recognize it as a security.
The Central Bank of the Russian Federation wants to ban the use of stablecoins as a means of payment, by analogy with cryptocurrencies. According to the regulator, only ordinary and digital rubles can be official means of payment, the rest - stablecoins, unsecured private coins and other monetary surrogates are not acceptable. This opinion was supported by the Ministry of Finance.
Japan also decided to tighten the regulation of services in the field of cryptocurrencies by introducing FATF provisions for local companies. Service providers will be required to provide information about transactions.
The financial regulator of Spain decided to tighten the advertising of cryptocurrencies. We are talking about street advertising, because it is "risky". At the same time, the restrictions will not affect the work of the most cryptocurrency companies. The reason for the bans was the advertising campaign of one of the local exchanges, which contained the slogans: “The revolution has just begun. Welcome to Bitcoin."
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Americans will be able to pay in the PayPal service with cryptocurrency. It will be possible to use cryptocurrency from PayPal mobile wallets to pay for goods in partner stores that work with the payment system right now. The new option "Checkout with Crypto" allows you to pay for goods with such cryptocurrencies: bitcoin, litecoin, ether and bitcoin cash. There are no fees for transactions using cryptocurrencies.
How PayPal is developing the crypto market. Customers who store cryptocurrencies in their wallets will be able to transfer them to fiat currencies at the time of purchase in 29 million merchants working with this payment system. Thanks to this, the bitcoin rate went up sharply, reaching $59.3 thousand for the first time since March 20.
Experts believe that such an initiative from PayPal may influence the adoption of positive cryptocurrency decisions in Apple Pay and Google Pay.
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Highly rated on the Stock Exchange and traded on the NASDAQ, Canadian fintech company Mogo announced the launch of a mortgage program in the first cryptocurrency with cashback. The program allows you to pay up to 3,100 Canadian dollars in bitcoins when applying for a new loan or refinancing an old one.
The company’s management says that the number of Canadians who want to join the cryptocurrency market and not risk their own money is growing. Therefore, the company decided to meet this demand.
