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Bitcoin panic selling made easier by Coinbase

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Coinbase has now initiated Paypal withdrawals for its users letting them sell their bitcoin and other cryptos directly into their Paypal accounts.

The current cryptocurrency market situation which may be termed as cryptocurrency winter has now gone into freezing temperature with panic selling growing more and more over the days. Coinbase, one of the largest cryptocurrency exchanges in the world has now initiated Paypal withdrawals for its users letting them sell their bitcoin and other cryptos directly into their Paypal accounts which makes panic selling much easier than before.

 

Coinbase Paypal Withdrawals

With the integration of Paypal withdrawals for bitcoin and other cryptocurrencies, the users have started to sell their holding in a much more easier and faster method and the best part is that these withdrawals are free of cost. Earlier, Coinbase customers had to withdraw their funds by selling bitcoin and other cryptos by a complicated method which included the time-consuming process of wire transactions into their bank account which also charged a fee for the same. Now that Paypal withdrawals have been made possible, there is more panic selling than ever as the process is just a matter of minutes.

Paypal has a tremendous speed of more than 50 million transactions per second and also has a great user experience on the platform which is quite easier and much convenient than the current Dapps in the market driving people away from Dapps. Paypal also lets the users attach their debit cards to their Paypal accounts and unlike blockchains such as Cardano, their system does not need a 100 PhDs for building their services.

The Coinbase’s Paypal integration has given the best opportunity to bitcoin investors who wish to conveniently invest or take out their funds from cryptocurrencies such as bitcoin. Paypal is exceptionally convenient than decentralization for the newcomers in the crypto space.

 

Experts bearish for Bitcoin

Experts like Nouriel Roubini are still criticizing bitcoin by telling people that it is much better to sell your bitcoin at the current rate of $3200 than waiting for it to reach $0.

Experts are also predicting that bitcoin could even reach $0 by the first quarter of 2019 and are suggesting others to withdraw their cryptos out of their hardware wallets such as Trezor or Nano Ledger and sell their holdings into their Paypal accounts using Coinbase.

 

This following article is not financial advice and only presents the opinion of the writer and not the opinion of Coinnounce. The readers are advised to do their own research and analysis before trading or investing in any digital asset such as bitcoin.

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11 Comments

11 Comments

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  11. Joe

    December 18, 2018 at 4:35 am

    Yeah..Sell them all to Coinbase,Binnance,Bitstamp and to other..You idiots
    Only what he want is your coins then can maniplated with the price, And explain me please
    Why would be Coinbase and others even buy BTC or other Crypto from you if he will hit 0 $ ???
    Dont be naive and dump, Dont trust them in any way !! Hold them ! Only what trading platforms want is more and more BTC then can manipulated with price !

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#Bitcoin

Alert: GotSatoshi Reveals the Real Identity of Satoshi Nakamoto?

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A new website called GotSatoshi now claims to know the real identity of the founder bitcoin Satoshi Nakamoto.Here is what they revelead.

The identity of Satoshi Nakamoto is one of the biggest secrets in the world, especially in the cryptocurrency industry. A lot of people have speculated the real identity of the bitcoin founder and some people such as Craig Wright has even self-proclaimed themselves to be Satoshi Nakamoto. A new website called GotSatoshi now claims to know the real identity of the founder bitcoin Satoshi Nakamoto.

 

Where in the world is Satoshi: The Countdown ends

The website ran a countdown and also posted on their official twitter account claiming to know the real identity of the founder of bitcoin.

 

The countdown which ended just a few minutes back (from the time of publication) revealed a video which is actually marketing a news website called PaiNews. It seems that it was just another joke or a method of fooling and attracting traffic to the website.

 

What are your thoughts on such lame jokes or methods of attracting traffic? Tell us in the comments section below.

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#Bitcoin

Kevin O’Leary from Shark Tank calls Bitcoin: Garbage and a Useless Currency

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During an interview with the CNBC, Kevin O'Leary from Shark Tank said that according to him Bitcoin is garbage and a useless currency.

During an interview with the CNBC, Kevin O’Leary from Shark Tank said that according to him Bitcoin is garbage and a useless currency.

 

Kevin O’Leary calls Bitcoin Worthless

Famous as the founder of Softkey, a startup that earns annual revenue of around $29 million and a host on the American business reality series Shark Tank, Kevin O’Leary is a celebrity amongst the business class in the United States of America.

 

During the interview published on 14th May 2019, Kevin expressed his thoughts over the king of cryptocurrencies bitcoin and called it a useless currency as the people who accept it just wants to hedge against the high volatility of the virtual currency. This comes in the midst of the current bitcoin surge as the virtual currency doubled its value in just a few days from below $4000 to more than $8000.

 

Kevin also explained why he has such negative views on bitcoin giving the instance of how once he tried using bitcoin for a real estate transaction in Switzerland. He said that it is not possible to get in and out of bitcoin while transacting in huge amounts.

 

He also gave an example stating that if one wants to buy real estate in Switzerland for $10 million. The seller wants a guarantee that the value comes back to him as currency at ten and the buyer has to hedge the risk of the cryptocurrency, hence it is not a real currency. Kevin said that the seller or the receiver would never want to take the risk of such high volatility and thus BTC is worthless.

 

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Amazon Owned Whole Foods, Other Big Retailers Start Accepting Bitcoin

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Whole Foods, which is owned and operated by the e-commerce giant Amazon and other big retailers are now going to accept payments in bitcoin.

Whole Foods, which is owned and operated by the e-commerce giant Amazon and other big retailers are now going to accept payments in bitcoin.

 

Whole Foods and Others accepting Bitcoin using Spedn:

A company called Flexa in collaboration with Gemini exchange which is owned by the Winklevoss Twins has managed to persuade a lot of big retailers including Nordstrom, Crate and Barrel & Whole Foods to configure the same scanners that they are already using for payments from other digital wallets like Apple Pay to work with their cryptocurrency payments app called Spedn.

 


Everything is handled on the backend of the application so that the cashier need not even have heard of bitcoin, let alone understand how to manage payment in cryptocurrency. The merchant has the choice in receiving immediately converted fiat or actually taking and holding the cryptocurrency.

 

The Spedn app lets consumers pay in bitcoin, bitcoin cash, ethereum and GUSD (Gemini Dollar), the Gemini backed stablecoin.

 

This new solution actually uses the existing systems and offers really only upsides for the companies as they don’t have to do any special training for their staff and there is no new hardware required and just a software upgrade.

 

It is worth noting that this is still in its early experimental stages for all the retailers which are cooperating with this scheme and things may of course change in the future. The thing to keep in mind here is that Bakkt is likely launching a massive payment processing service for cryptocurrency in the very near future as well and it could be a big competitor to what Gemini and Flexa are offering.

 

The company will also need to prove itself with consumers and get people to actually go out, download and use the Spedn app.

 

Can this be a game changer in retailer adoption of bitcoin and cryptocurrencies? Let us know about your thoughts in the comments section below.

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