Despite what naysayers will tell you, cryptocurrency is only moving forward rapidly and seeing more development than ever. With growing acceptance and popularity, it’s making the biggest breakthroughs it has in recent years. These are some of the most noteworthy developments in cryptocurrency:

PayPal’s Foray into Crypto

One of the biggest victories for cryptocurrencies took place in 2021 as payment giant PayPal accepted cryptocurrencies as a means for selling, buying via the platform. Currently, the platform only supports Bitcoin, Ethereum, Litecoin, Bitcoin Stash, and the availability for dealing in crypto is limited to US-based customers only.

Similarly, you can use cryptocurrency on PayPal with only personal or premier accounts. According to experts, this functionality will soon expand to different markets apart from the US later on and may see some expansion towards business accounts as well.

This is definitely a bullish sign for Bitcoin and other cryptocurrencies. Crypto is all about trust, and PayPal has a very high level of trust with its users: it has helped many people do their first web and mobile-based transactions in the past 20 years. If the UI/UX of the service is done right, we will see millions of new users join each month. We are convinced that many of these new users will want to try additional services like lending and interest income after buying their first few coins — this will be a rising tide for all crypto players.

Crypto Council for Innovation

The formation of the council was one of the most important events for crypto. Its major goals are to help people understand crypto, work closely with world leaders and other influential people to develop better policies and regulations regarding crypto.

The Crypto Council for Innovation believes in the potential of cryptocurrencies as a means for developing more jobs, providing a new means for transactions, and helping new markets develop and expand further.

El Salvador Regulates Bitcoin

El Salvador officially became the first country on the globe to accept Bitcoin as a legal tender. From September and onwards, locals can openly buy, sell, and trade goods by paying through Bitcoin. The country has come up with a Bitcoin law relevant to all the legalities regarding the cryptocurrency, clearly outlining its affinity towards the new form of payment.

Unfortunately, World Bank doesn't share the same enthusiasm for crypto and has denied support for Bitcoin. Citing various legal and environmental problems due to the cryptocurrency, it's still unclear if Bitcoin will become a complete everyday payment solution within the country or not.

If you’re interested in all things crypto, you can find the complete set of resources and information you need at Urban Crypto. You can find a beginners' guide for Binance, Coinbase, Cryptocurrency. Whether you’re getting started with BlockFi, looking for a way to make money with cryptocurrency, curious about which wallets and exchanges to invest in, you can find all you need on our platform.

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