Coinbase and Paypal Play a Role in Moving Bitcoin Past $50,000.

By The Lynx | Crypto Lynx | 23 Aug 2021


Bitcoin has been teasing the $50,000 for several days. Finally, it storms past any resistance at that mark and marches forward. Bitcoin has been trading at lower levels for months since all time highs this past March.  Other cryptocurrencies, like Ethereum and Cardano, have also had gains.

Coinbase’s move to invest 500 million into actual cryptocurrency got buyers excited over the weekend. Here is Coinbase CEO, Brian Armstrong’s, tweet on the evening of August 19, 2021:

“We recently received board approval to purchase over $500M of crypto on our balance sheet to add to our existing holdings. And we'll be investing 10% of all profit going forward in crypto. I expect this percentage to keep growing over time as the cryptoeconomy matures.”

At the time of Armstrong's tweet, Bitcoin was trading in the $45,000 range. It quickly moved past $47,000 right after his tweet.

Meanwhile, In Great Britain, PayPal has added crypto buying and selling options, similar to what is being allowed in the U.S. Although serious crypto enthusiasts will have little interest in PayPal in particular, it demonstrates continued growing adoption and use among major companies. The problem with PayPal is that there are so few buying options, high fees, and the inability to trade with outside exchanges. Still, for the complete noob that wants to test the waters, it is a decent and easy option. 

This is all good news for crypto. There will be continued volatility in the crypto markets; however, the long-term trend continues to show many positive signs. Many experts have speculated that Bitcoin will reach all-time highs once again before the end of 2021 and possibly push past 100,000 in 2022.

We love to buy when crypto is low. I will continue to buy on dips. However, now that crypto is moving higher, free crypto options become more attractive. I have a website on which I have links to several tested sites where you can earn small amounts of free crypto. I have withdrawn from each of them without problems. My current two favorites are Cointiply and PipeFlare. I usually earn about $25 or $30 a month on Cointiply (surveys are key). PipeFlare is just fun.

I also still respect what Coinbase is doing with the earn through education program. I took advantage of this a long time ago when I first opened my Coinbase account. I am still having opportunities to earn free crypto as new currencies become available on their site. I have earned over $70 in free crypto over the past 6 months on Coinbase. If you do not have an account, open one with a $100 deposit. You will get a $10 bonus for using this link with the $100 deposit. If you are short on cash, you can still earn through their education options answering easy quiz questions.  

Let's celebrate cryptos rise and look forward to more earnings!

The Lynx

www.cryptolynx.co

 

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The Lynx
The Lynx

A musician, artist, writer, hiker, gamer, avid reader, and NFT creator. I am a person always seeking for new ideas. My name "Lynx' goes back to a nickname in college. I have an online support group for those suffering with grief: www.lifelynx.net.


Crypto Lynx
Crypto Lynx

This blog will inform and entertain. From the perspective of a professional writer and educator with many hobbies, I take a common sense approach to sharing advice and information. I am not a professional trader; therefore, always buy, sell, and trade at your own risk. The information in this blog will be well-researched and factual to the best of my knowledge. Yet, what you do with this information is your decision. www.cryptolynx.co https://twitter.com/ArtLynx1

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