Vitalik Buterin, the co-founder of Ethereum, said that preloaded cryptocurrency cards, which people can buy easily at corner shops, will help more the large-scale adoption of virtual money than an inflow of institutional funds amid recent SEC’s decision on various Bitcoin-related exchange-traded funds (ETFs).
https://twitter.com/VitalikButerin/status/1023571651865137152
The idea of a Bitcoin ETF has been the latest bullish indicator, pushing BTC prices up above $8,000. However, Buterin believes it is more important to have a ramp for buying small-scale coins so that more users can get acquainted with the crypto technology.
While one Bitcoin ETF, proposed by the Winklevoss brothers, was recently declined by SEC once again, there is another chance for a breakthrough. SEC is expected to decide on CBOE ETF on August 10, which is seen as a source of bullish sentiment for Bitcoin (BTC). However, critics of the ETF have said that the higher demand will only raise the price of BTC in the short term.
https://twitter.com/iamjosephyoung/status/1023432299990331392
Some see such price spikes as more harmful to crypto coins as they further affirm the impression that crypto coins have a volatile and speculative nature. Part of the discussions surrounding the next Bitcoin ETF point out that for traders, the chief reason would be the chance to pump the coin to higher levels again. Some see BTC return to $25,000 after the ETF launch.
However, even the launch of derivative funds has not lifted BTC directly. Additionally, even now, early crypto enthusiasts have several chances to acquire small-scale crypto assets. The Robinhood app is one option. The other is Bitpanda, which has lately expanded its portfolio of coins and tokens that can be bought for cash. Recently, Bitpanda has offered the chance to acquire EOS for cash, including through prepaid cards available in Europe. And Coinbase has been the ramp for many investors, despite the limitations for buying only a small amount of BTC or other assets.
Several low-priced assets have sought ways to reach a wider audience by being sold for cash, but for now, those services remain a small niche, such as the Vertpig service for Vertcoin (VTC).
This article appeared first on Cryptovest
