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Driving Cryptocurrency Adoption: Fintech’s Key Role in Bridging the Gap Between Crypto and Fiat – Yahoo Finance

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However, there are still a number of significant barriers that are standing in the way of the mass adoption of digital finance. Perhaps most notably, there’s still some work to be done before crypto is as accessible and usable as fiat money when making purchases and leveraging transactions – but with the rise of exciting emerging fintech, we’re already being treated with an insight into a more agile future.
Although the likes of Bitcoin and various other cryptocurrencies have recently begun to attract widespread institutional interest, crypto assets are still widely viewed as a store of wealth, rather than a functional unit of finance.
Despite limited perceptions of the practicality of cryptocurrencies, adoption rates are loosely mirroring the growth of the internet. This indicates that the realization of the practical capabilities of crypto could help to drive adoption further.
Although it may yet be some time before we’re paying for our grocery shopping in BTC, the emergence of hybrid payment services can provide us with an insight into a future built on more practical use cases for the cryptocurrencies we like to buy and hold. With this in mind, let’s take a deeper look at how more practical use cases for crypto can drive mainstream adoption:
For cryptocurrencies to be truly functional, it needs to become significantly more user-friendly, according to Sam Bankman-Fried, CEO of FTX, who believes that “we have absolutely no beautiful user experiences yet.”
For cryptocurrency to be more practical, the development of user-friendly blockchain wallets and more seamless integration with fiat-based finance are essential for adopters to gain more financial freedom when it comes to spending their money and making transactions.
One of the biggest hurdles to overcome in terms of user experience can be found in the excessive blockchain fees that occur when setting up a transaction. “People can’t be paying $25 in transfer fees for purchasing a $5 cup of coffee,” notes Bankman-Fried, who believes that the bridging of gaps between cryptocurrency and fiat will require something of a leap of faith that must be taken by both customers and merchants alike.
To accompany this leap of faith, we’re seeing plenty of cases of technology evolving to accommodate the growing cryptocurrency landscape. The likes of PayPal, Visa and Checkout.com have all acted to adapt their models to accept cryptocurrency in recent months, but one of the companies making the biggest waves emanate from inside the crypto ecosystem itself.
Hybrid fintech platforms like Alchemy Pay, Sila, and Blockonomics have been developed with the goal of enabling cryptocurrencies and traditional fiat currencies to operate together.
For example, by leveraging solutions for both online and offline merchants to aggregate crypto assets and fiat currencies without having to undergo significant infrastructure upgrades, Alchemy Pay has the power to leverage over 300 fiat and cryptocurrency gateways across 65 countries and regions.
The Singapore-based hybrid payment solutions provider recently launched its own virtual cards, which support over 40 cryptocurrencies. The cards can be linked to digital wallets like Google Play and PayPal, and can be accepted across millions of merchants on the networks of Visa and Mastercard, including that of Amazon and eBay – eliminating more barriers to adoption.
These types of payment solutions have the potential to vastly improve the global payment market by improving transaction speeds on an international scale, reducing the cost of transactions, and eliminating the need for intermediaries.
The development of fintechs that champion hybrid technology come at a time when the wider fintech ecosystem is undergoing periods of significant growth. With the development of finance startups like Connectum, which focuses on multi-currency one-click payments through high-security artificial intelligence fraud-monitoring systems. In linking the world of crypto with fiat, Alchemy can blend blockchain technology with emerging fintechs to deliver more adaptive products.
As more individuals and businesses alike look to blockchain technology to leverage their financial transactions, it makes sense for firms to promote and facilitate the use of crypto in a transparent way and in conjunction with existing regulatory laws to play their part in driving mainstream adoption.
Although the bridge between crypto and fiat is still vast, the foundations may be laid by stablecoins like Vemanti and Circle – both of which are SEC reporting companies. These asset-pegged tokens can help to remediate any hesitations emanating from consumers, investors and businesses alike towards transacting with crypto.
By taking these measured steps towards the future, stablecoins may play their part in heralding an entirely new global financial ecosystem that’s built on frictionless, borderless and trustless digital payments – bringing with it new ways in which we can transact with each other and the companies we use.
This article was originally posted on FX Empire
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The billionaire investors stand in a league of their own. It’s not necessarily their wealth that puts them there – rather, it’s their success in the markets, in establishing themselves at the highest level of the financial world, that built their wealth. Cathie Wood, the founder and CEO of $75 billion asset manager Ark Invest, is one of Wall Street’s most influential investors due to her stock-picking power and her company's impressive returns. Looking at the current market situation, Wood belie
In this article, we discuss Cathie Wood is Buying These 10 Stocks. If you want to skip our detailed analysis of these stocks, go directly to Cathie Wood is Buying These 5 Stocks. Star stock picker Catherine D. Wood is the CEO and founder of the $42 billion disruptive technology hedge fund ARK Investment Management. Wood […]
Shares of aerospace-titan Boeing (NYSE: BA) soared earlier this week on the wings of positive news headlines out of the Dubai Airshow — not least of which was a prediction from Boeing Senior Vice President Ihssane Mounir that the company will soon resume deliveries of its ultra-modern 787 Dreamliner airplane to customers. As The Wall Street Journal reported this morning, newly discovered defects in the 787's design are "delaying deliveries of new jets" and "complicating airlines' plans" to receive them. Specifically, Boeing is experiencing a "door issue" with passenger and cargo doors on the 787.
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Around 7 a.m. ET this morning, analysts at investment bank JP Morgan revised their price target on Lithium Americas Corp (NYSE: LAC) stock higher — to $39 per share. Now, JP Morgan's note (covered today on TheFly.com) wasn't the only reason why Lithium Americas stock spiked, but it was definitely a contributing factor. As the banker explained, the price of lithium metal for electric-car batteries is going up, with pricing on both spodumene (a lithium-containing rock) and lithium carbonate (a lithium salt) continuing to move higher.
Upstart Holdings (NASDAQ: UPST) went public in December 2020, and the fintech immediately caught fire. In practice, that means Upstart's bank partners can approve nearly three times as many borrowers while holding fraud and loss rates constant.
The Dow Jones fell even as Apple stock and Nike popped. The Donald Trump SPAC took a dive following a probe call. Airbnb stock fell amid rising Covid worries.
If you are looking for dividends in the energy patch, this trio of names is the place to start. Here's why.
High-yielding dividend stocks can be tempting to invest in because that means you're collecting more on your investment. Omega Healthcare Investors (NYSE: OHI) and Altria Group (NYSE: MO) don't have yields that high, but at around 9% and 8%, respectively, they are definitely on the top end of the scale. Are these examples of dividend stocks that are too risky to be in your portfolio or could they be among the best deals on the stock market today?
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Shares of the mortgage originator UWM Holdings (NYSE: UWMC) had jumped more than 22% as of 10:57 a.m. EST after the company said it had decided not to go through with a planned secondary offering. UWM also said that it would "accelerate" its previously announced share repurchase program. Earlier this week, UWM announced a secondary offering in which its controlling shareholder would sell 50 million common shares, which sent shares tumbling.
Talk regarding the coming metaverse has reached a fever pitch in recent months. In the latest development, Meta Platforms (NASDAQ: FB) — the company formerly known as Facebook — changed its name to highlight its focus. Simply put, the metaverse is a virtual world that will harness the power of a collection of nascent technologies, including augmented reality (AR), virtual reality (VR), and video, and allow users to interact in a digital world.
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The bank sees the S&P 500 rising 9% next year, but investors still need to be choosy.

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Dow Jones Falls, Growth Stocks Crushed; Bitcoin Dives Again; Bank Of America Does This As Financials Thrive – Investor's Business Daily

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BREAKING:  Stock Market Correction Intensifies; Bitcoin Extends Losses Saturday
The Dow Jones Industrial Average fell late as growth stocks got spanked. Bank of America (BAC) passed a buy point as financial stocks flourished. Bitcoin was diving again, hitting Coinbase (COIN) and Grayscale Bitcoin Trust (GBTC). Discovery (DISCA) popped on an upgrade but New York Times (NYT) plunged.
The stock market struggled following a disappointing jobs report. The Labor Department reported U.S. employers added 199,000 jobs in December. That was about half what economists polled by Econoday had expected. It was also a big decline from the 249,000 jobs created in November.
The unemployment rate dropped to 3.9% from 4.2% the prior month. Economists had forecast 4.1%.
The tech heavy Nasdaq the worst hit major average, falling 1%. China e-commerce play Pinduoduo (PDD) was doing well again, closing up more than 7%. Payments stock MercadoLibre (MELI) lagged, falling 6.2%.
The S&P 500 also fell again, closing down 0.4%. Housing play D.R. Horton (DHI) lagged most, falling 6.2%. Homebuilder stocks in general struggled. The SPDR S&P Homebuilders ETF (XHB) surrendered 3.4%.
A majority of the S&P 500 sectors closed lower. Energy and financials performed best while technology and consumer discretionary were the worst laggards.
Small caps were also getting mauled by the bears. The Russell 2000 was down 1.2%.
But it was growth stocks that were given the worst thrashing. The Innovator IBD 50 ETF (FFTY), a bellwether for growth stocks, fell 2.7%.
The Dow Jones Industrial Average looked set to close positive before reversing late. It ended the session basically flat, ceding about five points.
Boeing (BA) was one of the top performers, rising 2%. It remains stuck beneath its 200-day moving average.
Walgreens Boots Alliance (WBA) was the top stock on the Dow Jones today. It closed up 2.7%. Home Depot (HD) was the biggest laggard, falling more than 2%.
Financial stocks are continuing to rally on the prospect the Federal Reserve will raise interest rates faster than previously expected.
Banking giant Bank of America managed to break past a cup-without-handle base buy point of 48.79. It ended the day above this entry after gaining 2.2%.
It formed an orderly looking pattern despite a volatile market, MarketSmith analysis shows. BAC stock’s relative strength line has just hit a new high, a bullish indicator.
While its volume is not ideal, the fact it is rising amid broader downward action is impressive.
Another stock worth watching is regional banking play Western Alliance Bancorp (WAL). It is currently building a new cup base with a 124.98 buy point.
Volume has been spiking as it forms the right side of the base, which is a good sign. It bullishly reclaimed its 50-day moving average Tuesday.
Western Alliance operates in areas including Arizona, Nevada and Southern California.
Underlining strength among financials, the Invesco KBW Bank ETF (KBWB) rose 1.6%.
Bitcoin-related stocks were falling as the cryptocurrency continued to slide. Bitcoin was trading under $42,000 after falling about 3% in the past 24 hours, according to CoinDesk.
One crumb of comfort was the fact it was off lows for the day.
The digital currency has now given up almost 40% from the levels it reached in early November.
Bitcoin plays such as Coinbase Global, Grayscale Bitcoin Trust and Riot Blockchain (RIOT) were all hit.
Cryptocurrency exchange COIN closed off lows, giving up 0.7%. GBTC fared worse, falling nearly 4%.
Bitcoin miner RIOT also ended the day off lows, giving up 0.6%.
There was some interesting movement in the media space amid upgrade and acquisition news.
Discovery roared 16.9% higher after Bank of America upgraded the stock to buy due to its mooted merger with WarnerMedia.
Analysts believe the new firm could create a strong rival to media powerhouses Netflix (NFLX) and Walt Disney (DIS) in the streaming space.
Meanwhile shares of the New York Times plunged on news it plans to buy sports news site The Athletic for $550 million. It is expected that transaction will close in the first quarter of this year.
New York Times stock ended the day near lows as it gave up 10.7%. It is now near 12-month lows.
Please follow Michael Larkin on Twitter at @IBD_MLarkin for more on growth stocks and analysis.
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Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the stocks they discuss. The information and content are subject to change without notice.
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Can I Buy Cryptocurrency With A Credit Card? – Forbes

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Updated: Jul 27, 2021, 9:00am
Like gold in the 1850s and .com stocks in the 1990s, it seems everyone is trying to get their hands on crypto. Purchasing cryptocurrency with a credit card is possible but can be a dangerous undertaking. Cardholders can expect fees from both sides of a transaction involving cryptocurrencies and credit cards, plus face the potential to lose money quickly due to volatile currency values and high interest rates.
We’ve combed through the leading exchange offerings, and reams of data, to determine the best crypto exchanges.
It’s best to check with a credit card issuer to find out whether it allows cardholders to purchase any type of cryptocurrency. American Express currently allows such transactions with a few strict terms. Bank of America recently changed its tune in 2020 when a Reddit user shared an image of a letter they received that stated cryptocurrency purchases would be treated as cash advances. (Note: Bank of America’s terms on this are still unclear.)
In addition to double-checking with a credit card company, crypto holders should also look for a cryptocurrency exchange willing to accept credit cards for deposits or purchases. Some only allow direct deposits from banks, cash deposits or debit card purchases. Coinmama, CEX.io and Paxful are all exchanges currently accepting credit cards.
Limitations also exist as to what types of credit cards are accepted by exchanges. Some exchanges may only take Visa or Mastercard credit cards. Paxful, for example, has a variety of Bitcoin vendors from around the world who sell on the exchange website. It’s one of the few exchanges currently accepting American Express credit cards, but acceptance on the exchange also greatly depends on the selected vendor.
Major U.S. credit card companies may not allow cardholders to purchase cryptocurrency with a credit card. Citibank, for example, blocked cardholders from using credit cards to purchase Bitcoin and other cryptocurrencies in 2018 fearing its volatility and the potential for fraud. Some credit card companies may even issue cash advance fees if a cardholder attempts to make a crypto purchase.
Note that some major U.S. credit card companies don’t make information on their websites easy to find regarding whether or not they allow cardholders to purchase cryptocurrencies. It’s best to call the number on the back of the card and speak to a representative. Ask clearly, directly and specifically whether or not purchasing crypto is allowed, and, if so, what types of fees will be incurred.
Some cryptocurrency exchanges don’t accept credit cards as payment, such as eToro and Coinbase.
Cardholders can expect to pay fees to both the exchange the currency is purchased with and the credit card issuer. Before making any purchases with an authorized credit card, research the exact cost for each purchase and what the monetary benefit will be (or will not be) before incurring the charge.
The exchange may charge a commission fee and/or a service fee for using a credit card to purchase or deposit crypto. For example, CEX.io is an exchange offering a handful of cryptocurrencies for purchase, including Bitcoin. Users are allowed to purchase crypto using a Visa or Mastercard credit card, but U.S. cardholders are subject to a 2.99% commission fee with a minimum purchase of $20.
Depending on the exchange, vendors within the exchange may also design fees for purchasers depending on a few factors, like where the vendor is located, the purchase amount and what type of credit card is used.
Some credit card companies allowing cardholders to make crypto purchases treat the purchases as a cash advance (cash advances usually refers to when a cardholder uses a credit card to withdraw money from an ATM). This has several disadvantages.
Let’s use common card terms as an example for the types of fees a cardholder can incur:
Other credit card risks may include:
As the cryptocurrency market evolves, so does the standard financial market. There are a few start-up credit card issuers who offer Bitcoin or other cryptocurrencies as bonuses or rewards. For example, BlockFi, a younger card company, offers 1.5% Bitcoin rewards for every purchase made. They also boast Bitcoin welcome bonuses and more rewards from trading and client referrals.
Using a credit card to purchase cryptocurrency won’t make sense for most. Cardholders should consider the major disadvantages before deciding to buy crypto using a method involving a credit card. Purchasing crypto is often best accomplished using direct deposits, debit cards or wire transfers.
Credit card purchases often come with high fees that lessen the value in a good investment or reduce returns by a significant margin. Cardholders also face a high risk of burrowing themselves into deep debt that can be hard to come out of. For those who insist on using a credit card, we advise contacting a credit card representative to discuss what the repercussions will be with a specific credit card issuer and look for a cryptocurrency exchange with the best credit card rates.
We’ve combed through the leading exchange offerings, and reams of data, to determine the best crypto exchanges.
Chauncey grew up on a farm in rural northern California. At 18 he ran away and saw the world with a backpack and a credit card, discovering that the true value of any point or mile is the experience it facilitates. He remains most at home on a tractor, but has learned that opportunity is where he finds it and discomfort is more interesting than complacency.
Dia Adams is a noted family travel expert and a real-life Mom of two teens in the DC Metro area. She has visited over 45 countries and lived in Thailand, China, and Ireland (where her son was born). Her kids have over 20 stamps in their own passports. Her passion lies in showing families how to travel more while keeping their savings and sanity. Her guidebook, Disney World Hacks, is a bestseller on Amazon.

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NFTs and DeFi overturn a banker's generational curse of poverty in 2 years – Cointelegraph

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