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The cryptocurrency market has been on the rise over the last week because of the different kind of news that has been floating around the market. Right from Elon Musk stating that he would consider accepting Bitcoin again as a mode of payment in his electric vehicle company Tesla to Amazon opening up the possibility of accepting Bitcoin as a mode of payment soon.
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The cryptocurrency market has been on the rise over the last week because of the different kind of news that has been floating around the market. Right from Elon Musk stating that he would consider accepting Bitcoin again as a mode of payment in his electric vehicle company Tesla to Amazon opening up the possibility of accepting Bitcoin as a mode of payment soon. Elon Musk had announced that Tesla might soon start accepting Bitcoin again right after they refused to accept the currency anymore as a mode of payment earlier this year due to the power consumed in its mining processes.
This set of news has helped investors regain confidence in the cryptocurrency market which has brought back the bulls in control. If you are wondering how to get started and how to buy Bitcoin in Canada then we have you covered.
What is Amazon and how is this news beneficial to the cryptocurrency market?Amazon is the largest online store in the world. Right from electronics to clothes to groceries, everything can be bought on Amazon and be delivered to your door step in the matter of a few days. Currently Amazon operates by accepting Cash or Card or online banking as a mode of payment for executing its orders and this is all set to change with a new option of cryptocurrency to be added as a mode of payment.
Investors believe that Amazon is yet to find the right payment partner to ensure the safe transactions of the cryptocurrencies and to ensure utmost care while performing these transactions. As soon as that is complete, we can expect this idea to turn into reality and that will bring a big boom in the whole market.
If a giant like Amazon starts accepting these currencies it would immensely increase the popularity of cryptocurrencies and would attract new investors into the market. People use Amazon as a daily driver to purchase basic household necessities and if they start using cryptocurrency as a mode of payment then this would increase the current number of transactions and also the current circulation of the coins in the market which is a very healthy sign for the market.Currently Amazon is only open to the idea of accepting top cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash etc.
What should investors do now?Cryptocurrency is slowly showing us why it is an asset for the future, big companies like Amazon and Tesla showing their faith in the asset is a big boost for the market and things will only get better from here. If you are wondering buy Bitcoin Cash in Canada or any other cryptocurrency and are willing to be a part of the future then all you need to do is log onto the Netcoins website and follow these instructions.
First, you need to provide your personal information to open an account. Then, you need to get your details verified. After this is done, you can transfer money into the wallet and begin trading.SOURCE CREDIT: https://buybitcoinincanada.tumblr.com/post/657927205742084096/is-amazon-looking-to-accept-bitcoin-as-a-mode-of
