If you were wondering what's with all the hiccups that Binance has encountered lately, especially in the UK, here's your answer... PayPal set to launch crypto trading in the UK and may embrace DeFi. Why have shady coders in control of this new revolution when the establishment can do it in its own "centralized manner"?
According to CEO Dan Schulman, Global payments platform PayPal is looking toward the United Kingdom as the next market in which to expand its crypto trading services.
“Yeah, well, we continue to be really pleased with the momentum we're seeing on crypto. […] We're going to launch, hopefully, maybe even next month in the U.K., open up trading there.”
source
You know what else is funny, after you realize the hindsight of all of this?
That Binance "has been forced" to trim down their daily withdrawals for basic KYC users to 0.06 BTC, from 2 BTC a day, while you can buy crypto with PayPal of up to $100,000 per week. I know... Binance has changed its daily withdrawals limits while PayPal is talking of $100,000 weekly purchasing limits, but who's going to be incentivized to buy on Binance when withdrawals have been shrunk?
PayPal will offer the sky and the clouds for their customers in UK while Binance has to trim down every branch from its tall and productive tree. PayPal is also working on open banking integration, is looking into "what the next generation of the financial system looks like" and how to integrate smart contracts and decentralized apps into the platform and of course offering buying limits of up to $100,000 per week.
Long live PayPal...
I don't know about you guys, but in my case it's crystal clear that the establishment(aka banks, payments services, etc etc.) won't let such an opportunity go away and they'll try their best to take competition out of the game. Does PayPal allow purchasing actual crypto within that super mega app its working on?
I doubt that, but who cares about blockchain and crypto anymore as long as we can make more money(their money) from trading shitcoins through a "bloody app". Sooner than later we will have CBDCs rolled out and it will be absolutely impossible to get out of the system. Unless buying or building a house in the woods and living off grid...
The best use case for crypto that I see, as a financial freedom tool in the hands of the masses, would be to actually use these currencies as all around purchasing ones, to be using the damn DEXs and farms, crypto rewarding social medias and so on, and become the owners of our finances and private lives. As long as we live by the rules of the oligarchs and we accept their crypto regulations, we've failed this revolution...
After reading this report of CoinTelegraph on PayPal and its new trading app for UK, it all makes sense regarding Binance and how it's treated all over the world. They have indeed took the biggest bull by the balls.
Thanks for attention,
Adrian