In early 2020, the United States experienced an unprecedented coin shortage that brought conventional currencies under fire. Transmission fees related to traditional funds and currency systems also became the attention of scrutiny and compared to alternative assets. Combining the failing global economy and cryptocurrency security aspects brought digital currency to a new level of success.
As 2020 draws to a close with COVID 19 still rampant, PayPal saw Bitcoin earning potential right away. PayPal and Cash App recently purchased most virgin coins and caused an unbalanced chain of supply and demand. The Federal Reserve System’s Board of Governors remains actively working with central banks to discuss resources and compare digital currency solutions in the last few months of 2020.
Banks in the United States recently received approval for crypto services with little expectations for great demands. The surprising shortage of newly mined coins has significantly increased each coin’s value that hits the crypto exchange. Financial analysts have recently noted the risk-averse structure of crypto exchange platforms but have not determined what the future could hold.