PayPal announced the rapid growth in demand for cryptocurrency

PayPal founder Dan Shulman noted the unprecedented demand for cryptocurrency among payment service users.service. He stated this in an interview with TIME magazine, according to Shulman, the current financial system is in dire need of modernization due to its inefficiency.

“Cash out can take three days. If you are making an international transfer, it may take seven days for the money to be received. And it's too expensive "- he noted.

According to Shulman, the company has been monitoring the cryptocurrency market for the last six years. However, the decision to join was made only last year due to the entry of traditional players into the industry.

“We wanted to work hand in hand with regulators before we put something on the market.”- Shulman emphasized.

However, Shulman did not give any specific figures on the turnover of cryptocurrencies through PayPal.

PayPal's successes yesterday

Schulman's statements on the unprecedenteddemand for cryptocurrency are similar to the truth, but they are fully applicable only at the time of the launch of the service. Over time, interest in the cryptocurrency market through PayPal has slightly weakened.

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As you can see in the graph above, the peak of activity inPayPal happened in early January 2021. It was then that US users were able to make payments in cryptocurrency. Since then, however, trading volumes on the itBit crypto exchange (which is PayPal's liquidity provider) have dropped significantly.

What exactly causes the drop in interest?remains unknown. PayPal itself, however, aims to earn $2 billion from cryptocurrencies by 2023. At least this is the conclusion that analysts at the Japanese commercial bank Mizuho came to.

PayPal and added support for cryptocurrencies, butThe company does not intend to completely switch to the virtual assets market. In February, PayPal Chief Financial Officer John Rainey said PayPal was unlikely to invest the company's money in assets like Bitcoin.

As a reminder, earlier in April it became known thatthe largest public bitcoin hodler, MicroStrategy, will start paying its board of directors salaries in bitcoin. The amount of payments will be calculated in relation to the US dollar. A similar statement was made by the NBA Sacramento Kings team, which will also pay salaries to players and coaches in Bitcoin.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bybit	https://bybit.com	7.5
3	OKEx	https://okex.com	7.1
4	Exmo	https://exmo.me	6.9
5	Huobi	https://huobi.com	6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability&#8212; stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features &#8212; futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

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