Currency system
Integration of Cryptocurrencies in the Financial Market According to the leading expert and CEO of Galaxy Investment, after the leading global online payment platform PayPal announced official support for Bitcoin and several other cryptocurrencies, similar actions from industry giants Visa, Mastercard, and American Express are only a matter of time. Mike Novogratz shared this opinion in a recent interview with Bloomberg.
According to the analyst, within a year, Mastercard and Visa may organize and establish communication with leading platforms collaborating with cryptocurrency services, including Stablecoins. In an interview with the publication, Novogratz stated, «Today, the popularity and interest in cryptocurrencies are a fait accompli. The question is not whether blockchain will become part of the financial infrastructure but when it will happen. And every company should have a plan for this».
По мнению SEO Galaxy Investment, несмотря на популярность и ценность Bitcoin, it will not gain widespread use as a means of payment for services, remaining a store of value. For at least the next five years, Bitcoin will represent value in accumulation, and coins will rise as digital gold. BTC will become a desirable unit for portfolios.
Mike Novogratz drew these conclusions in light of recent events, particularly on October 21, when PayPal announced features supporting the storage, sale, and purchase of Bitcoin, Litecoin, Bitcoin Cash, and Ethereum. According to the announcement, such interaction with cryptocurrencies will stimulate the mass use of tokens and prepare the user network for the introduction of central bank digital currencies.
It was also reported that to expand the PayPal product lineup, the possibility of acquiring and merging with certain cryptocurrency organizations, such as BitGo, is being considered.
PayPal Payment System
PayPal is an international payment system for making payments, purchases, and transactions from anywhere in the world. Years of use and a huge multi-million user base guarantee the reliability, security, and stability of the service. Any transactions within the network are not subject to commission fees, except in cases requiring currency conversion. Advantages of the payment service:
- universality - PayPal can be used for almost any transactions, regardless of currency or region;
- convenience - Unlike bank transactions, such operations are quick and have low fees, attracting users;
- security - Transaction anonymity, the service does not require personal banking data;
- buyer protection - If the goods are not received or arrive in unsatisfactory condition, funds can be refunded.
Of course, no modern payment system can guarantee 100% security, as protection systems evolve alongside hacking methods. However, PayPal provides optimal and convenient platform usage conditions.
Visa or Mastercard: Which System to Choose?
Equally large payment services Visa and Mastercard will also integrate cryptocurrency systems in the future. Today, these platforms are known for their collaboration with banks. The choice between Visa and Mastercard depends less on the place of residence than on international travel. The differences between Visa and Mastercard within a country are almost imperceptible.
Statistical data shows that MasterCard is used for payment in 210 countries, while Visa trails by ten units. At the same time, 29% of all cards worldwide belong to Visa, while MasterCard covers only 16%. Visa's advantage lies in the availability of ATMs worldwide, meaning the ability to withdraw cash at any time. Meanwhile, 30 million points of sale are connected to the MasterCard service. The main difference between the platforms lies in the primary currency. For Visa, it is the US dollar, and for MasterCard, it is the euro. Although both cards can be used to pay for goods and services in any country, the commission will vary depending on the country.
