After years of talk, the world's most familiar digital payment platform, Paypal, is finally embracing cryptocurrency as a form of accepted currencies for all its US users.
Bitcoin, Ethereum, Bitcoin Cash, and Litecoin will be the cryptocurrencies accepted by PayPal. "The shift to digital forms of currencies is inevitable," said Dan Schulman, president, and CEO of PayPal in an October 21st press release.
Experts in the crypto world have often linked the volatility and shortcomings of cryptocurrencies to its lack of accessibility in markets, so this new acceptance on part of Paypal might just be what's needed to propel cryptocurrency use into the mainstream economy. Paypal will develop complementary cryptocurrency educational resources on its website.
Currently, you can get on the waitlist to trade cryptocurrency on PayPal, as it's not officially tradable yet. Beginning sometime early next year, users will be able to not only buy and sell the currency but also use it to make purchases to any of Paypal's 26 million merchants.
What Is Cryptocurrency?
You may have heard the words "cryptocurrency" or "Bitcoin" before; you may even know what they are. Pop culture has long depicted futures in which money has gone completely digital. With the growing acknowledgment of cryptocurrency, that future may not be far away.
The Dutch bank ING released an extensive survey about cryptocurrency, in September, revealing that while almost three-quarters (74%) of people know that cryptocurrency is a type of digital money, nearly the same amount of (73%) incorrectly identified the governing body for cryptocurrency, or said they did not know how it worked.
Cryptocurrency is a type of digital currency secured by cryptography technology that makes it nearly impossible to counterfeit. Cryptocurrency is not controlled by any government or entity, and the middle man (AKA the bank) is cut out of the equation.
How Does It Work?
Cryptocurrencies allow you to make secure transfers online which are denominated in terms of tokens. Behind the scenes, the network shares a blockchain (digital ledger) that records all transactions.
How Can I Use Cryptocurrency?
In order to buy cryptocurrency, you need an online application, known as a "wallet" to digitally store it in. This can be done through an app such as the Bitcoin Wallet, or through a free investment app such as Robinhood.
You can use your cryptocurrency to buy goods or services from many retailers and merchants that accept cryptocurrency, transfer it directly to other cryptocurrency users, or exchange it for other digital or paper currencies.
Cryptocurrency can also be earned through mining, which is often referred to as the process of digitally mining for gold.Money Work GIF by Mr.CryplyGiphy
Types of Cryptocurrency
Bitcoin was the first of its kind and is still the most popular cryptocurrency used today. Other alternative cryptocurrencies have come out since, including the Litecoin and Ethereum.
Bitcoin
The original Bitcoin code was developed in 2009 by the individual or group known by the anonymous pseudonym, Satoshi Nakamoto. Bitcoin is not owned by any individual or company. All users are able to use and develop the bitcoin software.
Today, Bitcoin is split into two different cryptocurrencies: the original Bitcoin (BTC) and Bitcoin Cash (BCH). The main difference between the two is that the latter was created to increase the speed of transaction processing. Some experts worry about the security of the newer Bitcoin cash, as the program doesn't necessarily follow the guidelines in programming set out by Nakamoto. As it is, Bitcoin still remains the most widely used of the two.
Cryptocurrency Benefits
Since cryptocurrency operates in a decentralized manner, cutting out the middleman in currency transactions (AKA the bank) can have many benefits.
- Cryptocurrency transactions are instant and direct, unlike transfers that need to run through banks and can sometimes take days to process.
- Cutting out the need for the bank reduces inflation and reduces fees.
- Transactions are not limited by time, location, or bank holidays.
- More secure transactions from cryptographic technology.
- Cryptocurrency allows much clearer transparency since the data stored in the blockchains are available for anyone to view.
Cryptocurrency Disadvantages
- The inability to make payments with cryptocurrency.
- Cryptocurrency is unregulated, which makes it an attractive means of illegal activity and overall is considered a high-risk investment. Cryptocurrency does not hold any intrinsic value-such as that of fiat currency backed by gold or a governing body. Berkshire Hathaway's billion-dollar CEO, Warren Buffet, is a longtime opposer of cryptocurrency. In an interview withCNBC, Buffet said that he would never invest in cryptocurrency because he believes it holds no value.
What's Next?
According to a 2019 survey, only 10% of people understand cryptocurrency. However, it does have backing from the SpaceX and Tesla founder, Elon Musk, who sees potential in Bitcoin. The future of cryptocurrency heavily relies on its ability to further reach into the retail economy.
- News - PayPath ›
- 5 Tips for Overcoming Investment Regret ›
- Kodak's cryptocurrency could streamline digital image rights - PayPath ›
- Tesla to Join the S&P 500: How This Will Affect All Investors - PayPath ›
Every time payday rolls around, I’m on top of the world. Jeff Bezos-level rich - even though I’m anything but. And then somehow the very next day, rent is due.
The cycle continues. The next payday, bills for my apartment. I find myself without a surplus of savings since I just moved and newly-furnished my apartment completely.
Even more terrifying is the looming presence of the holiday season. Halloween’s officially over and before we know it, hello Thanksgiving…and then there’s Hanukkah, Christmas, New Year’s. It’s insane.
I’ve been feeling very British lately. Not in a Union-Jack-obsessed, “Keep Calm and Carry-On” way. I went through that phase in 2012 with everyone else… no thank you. And it’s not even a surge of patriotism catalyzed by the Queen dying — I’m firmly team Diana and team Meghan.
Now that fall is officially here, the holidays will sweep in and I’ll have to contend with the fact that I won’t be spending them with my family in the UK. I went home to London earlier this year, so there’s not much left in my travel budget for another trip across the pond. A few domestic jaunts might be in my future, but the closest I’ll get to England this winter is watching Love Island and Love, Actually.
So in that spirit, I’ve been filling my days with content from my favorite Brits. I’m listening to all the old British rock bands I grew up listening to, patiently awaiting the new Arctic Monkeys album, and rewatching anything with Michaela Coel in it. I even shipped myself an order of British Baked Beans, so you know it’s dire.
I’ve also been watching British YouTubers like Grace Beverley — my favorite. Generally, I only go on YouTube to watch Vogue Beauty Secrets and AD Open Door videos. But I’m so glad I stumbled on Grace. Her content is a mix of London lifestyle (what lured me in), relatable entrepreneurship, and mindful productivity. I’m not a hustle-and-grind-girlboss, but as a creative person in a 9-to-5, I need all the help I can get to stay plugged in. So, the video “how to be really really really productive without getting overwhelmed” changed my approach to WFH.
Grace outlines her own productivity method: the to-do table. Instead of making a simple to-do list, she divides her tasks into a table that anyone can follow. As someone who’s survived with to-do lists for years, I recently implemented Grace’s method, and it’s revolutionized my workdays.
how to be really really really productive without getting overwhelmedwww.youtube.com
I follow her routine to a tee. Here’s how it works:
Essentially, she divides her daily responsibilities into four categories: quick ticks, tasks, projects, and non-negotiables.
- Quick Ticks: Actions that take less than 5-minutes
- Tasks: To-do’s that take up to 30-minutes. Probably don’t take too much brain energy.
- Projects: Long-term list items. These help guide your priorities, even if you’re not crossing them off in one day.
- Non-negotiables: Pick 3 things each day that you must get done. This is how you’ll truly measure success.
With everything written down and sorted, next address your schedule. Meetings, deadlines, and time blocks — whatever works best for you. Write it down. Then make a pact with yourself to stick to them.
This way of categorization provides a roadmap for prioritizing your day — making you far more productive. Have you ever spent the entire day on small tasks and then suddenly realized you hadn’t moved the needle on any task? Or do you spend way too much time on tasks that aren’t a priority? No more. With your non-negotiables laid out, you know what to laser-focus on and what to dedicate energy towards.
Also, it pays to know your working style. I’m not a morning person. Yet, I have to be up and at ‘em super early. So, first thing in the morning, I march through my Quick Ticks to warm me up. I set a time limit, so I can knock out some easy wins which is totally inspiring. Then I move on to bigger things without lingering on emails or admin. For others, it might be more helpful to tackle the big things with all that early-in-the-day brain power earlier.
Grace has great tips on avoiding overwhelm and burnout. My favorite is taking more intentional breaks rather than scrolling through social media. I call this scrolling “productive” because I’m “coming up with pitches.” Oh, the lies we tell ourselves. It’s more productive in the long run to giving my brain a break with non-screen related stimuli.
Grace’s solution? Set a timer to read a real, an actual book. I’ve never thought of this. It’s a genius way to check off some books on my TBR and kickstart my creativity. After reading a good book, I’m completely inspired to write. So having books near my desk helps me step away from the computer during my lunch break for an actual reset. (And yes, the current books I’m reading are by British authors: Assembly by Natasha Brown, and Love in Color: Mythical Tales from Around the World, Retold by Bolu Babalolu.)
In my pursuit of switching out my WFH set-up and getting my life together, I’ve engineered my workstation for success. With my new WFH essentials and Grace’s productivity technique, I’m revitalized for work — despite the fall blues and my melancholy about the pending holidays.
Here are the things getting me hyped for work and helping me crush my Grace Beverley-inspired to-do tables — no lists in sight:
Southwest Airlines Sale 2022
Pack your bags — Southwest Airlines is having a major sale! Fares are as low as $59 one-way if you book by October 3rd.
This end-of-summer super sale is a game-changer for your travel plans through the end of the year. Summertime travel gets all the glory. But why not take advantage of your long weekends, holidays, and PTO this fall. You’ll be surprised at how much travel you can fit in. Keep the fall/winter season exciting with domestic trips that give you all the excitement without breaking the bank. All thanks to Southwest.
Here’s the breakdown:
Where can you go?
You’ll find discounted tickets to and from most airports. Sale fares apply to cross country travel, and even Hawaii, Mexico, and the Caribbean! Whether you’re visiting a new city or revisiting your last beach vacation, this sale has fares to make your travel dreams come true.
What do the fares cover?
Southwest Airlines has multiple fare tiers, each with various benefits. Wanna Get Away fares start at $59, while Wanna Get Away Plus fares start at $89. You can also find great deals on Anytime fares, which offer priority boarding and express lanes. Then there’s Business Select tickets for a luxe experience at an affordable price point.
Do you have to be a Southwest Rapid Rewards member?
You may think these sale fares are too good to be true. Is there a catch? Do you have to be a Southwest Rapid Rewards member to access them? You’re in luck — anyone can attain these fares for a limited time.
But, insider tip, you should consider signing up for Southwest Rapid Rewards. With a free sign up, you earn points and miles with each trip you take. And with this sale, each dollar you spend on these discounted tix can stretch super far until you eventually earn free travel. The only thing better than a sale is free stuff.
So pack your bags and brace yourself for those chaotic airport lines. Everyone’s hopping on this deal so get on it. Don’t miss out — grab your sale tickets by October 3rd!
I’ve been browsing the Southwest Airlines site, checking out flights and dreaming.