Tesla CEO Elon Musk has revealed he believes bitcoin is on “the verge of broad acceptance.” His comments came during a wide-ranging interview on the Clubhouse app that also covered Musk’s plans to launch manned missions to Mars.

Al Kelly, CEO of Visa, has said the payments giant is in a position to make cryptocurrencies more “safe, useful and applicable,” and could even add them to the company’s payments network. Kelly, speaking on the company’s fiscal first-quarter 2021 earnings call, described bitcoin as “digital gold.”

India is reportedly planning to introduce a bill seeking to ban all private cryptocurrencies in the country during the budget session of parliament.

Sponsored: StormGain, a centralized exchange registered in Seychelles, is one of the cryptocurrency trading platforms that stands out, giving both aggressive and passive investors ways to make money over the long run with its offerings. Its services ensure privacy while guaranteeing user funds are kept with “industry-leading security protocols.”

Top stories in the Crypto Roundup today:

• Bitcoin on ‘Verge of Broad Acceptance’ Says Tesla CEO Elon Musk
• Visa Could Soon Introduce Cryptocurrencies to its Payments Network
• India Plans to Introduce Bill Seeking to Ban Cryptocurrencies
• DOGE, EOS, GRT Are Moving in the Crypto Market
• Sponsored: StormGain a Cryptocurrency Exchange for Both Aggressive and Passive Investors

Bitcoin on ‘Verge of Broad Acceptance’ Says Tesla CEO Elon Musk

Tesla CEO Elon Musk has revealed he believes bitcoin is on “the verge of broad acceptance.” His comments came during a wide-ranging interview on the Clubhouse app that also covered Musk’s plans to launch manned missions to Mars.

Speaking to a packed chat room, Musk said he believes bitcoin is a “good thing,” and added:

“I am a supporter of bitcoin. I am late to the party but a supporter. Bitcoin is on the verge of getting broad acceptance by traditional finance people."

Musk also seemingly addressed his previous jokes about the meme cryptocurrency dogecoin on social media, and his Twitter bio change to simply “bitcoin,” saying he has to be careful about what he says as it can “affect the market.”

The CEO of Tesla clarified his jokes about dogecoin are “really meant to be jokes.” Musk’s words on bitcoin have so far failed to move the flagship cryptocurrency’s price, likely as some speculated he was going to announced Tesla was adding bitcoin to its balance sheet, over a discussion he had on Twitter with MicroStrategy CEO Michael Saylor.

Visa Could Soon Introduce Cryptocurrencies to its Payments Network

Al Kelly, CEO of Visa, has said the payments giant is in a position to make cryptocurrencies more “safe, useful and applicable,” and could even add them to the company’s payments network. Kelly, speaking on the company’s fiscal first-quarter 2021 earnings call, described bitcoin as “digital gold.”

The CEO added, however, that cryptocurrencies like bitcoin are “not used as a form of payment in a significant way at this point,” and said the company’s strategy is to work with wallets and exchanges to “enable users to purchase these currencies using their Visa credentials or to cash out onto our Visa credential to make a fiat purchase at any of the 70 million merchants where Visa is accepted globally.”

Addressing stablecoins, Kelly said these could be used for global commerce. Per his words, 35 leading digital currency platforms and wallets are issuing Visa cards, including firms like Crypto.com and BlockFi. These relationships “represent the potential for more than 50 million Visa credentials.”

He implied that as a digital currency becomes recognized as a means of exchange there’s “no reason why we cannot add it to our network, which already supports over 160 currencies today.”

India Plans to Introduce Bill Seeking to Ban Cryptocurrencies

India is reportedly planning to introduce a bill seeking to ban all private cryptocurrencies in the country during the budget session of parliament.

The proposed legislation would provide a framework for the creation of an official digital currency issued by the country’s central bank, the Reserve Bank of India, and allow specific exceptions to promote blockchain technology and its uses.

The central bank is looking into the need for a digital version of the country’s fiat currency and how to implement it. The move comes after India’s monetary policy regulator banned crypto transactions in 2018 over a string of frauds in the months that followed the country’s move to ban 80% of its currency.

The ban was met with lawsuits from cryptocurrency exchanges that saw the Supreme Court overturn it in 2020.

DOGE, EOS, GRT Are Moving in the Crypto Market

Several tokens are leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with rather liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Dogecoin (DOGE) - Dogecoin is a bitcoin clone created as a meme. The cryptocurrency's community sponsored multiple high-profile events and participate in various philanthropic projects over the years. DOGE is up 37% in the last 24 hours.

EOS (EOS) – EOS is built with the EOSIO software, which provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and/or clusters. Its blockchain architecture has the potential to scale to millions of transactions per second, eliminate user fees and allow for quick and easy deployment of decentralized applications. EOS is up 9.6% in the last 24 hours.

The Graph (GRT) - The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both DeFi and the broader Web3 ecosystem. GRT is up 7.75% in the last 24 hours.

StormGain a Cryptocurrency Exchange for Both Aggressive and Passive Investors

Crypto traders have several cryptocurrency trading platform to choose from nowadays, and while many do not bring anything new to the table other than specific altcoin listings and unique user interfaces, some stand out specific offerings.

StormGain, a centralized exchange registered in Seychelles, is one of the cryptocurrency trading platforms that stands out, giving both aggressive and passive investors ways to make money over the long run with its offerings. Its services ensure privacy while guaranteeing user funds are kept with “industry-leading security protocols.”

On top of a unique, modern user interface and several security features such as two-factor authentication, the firm offers investors a demo trading account using real crypto market data. The demo account lets traders get used to the platform and practice strategies before risking their own funds.

On top of that, using StormGain its possible to leverage one’s position up to 200x. This means that if a trader has 1 BTC on their account, they can open a position worth 200 BTC, but it’s important to point out that the higher the leverage the easier it is to get liquidated.

Aggressive investors may, however, benefit from these two features especially taking into account no know-your-customer (KYC) checks are necessary to try out demo trading. These features are complemented by in-app trading signals to help users know what crypto trading pairs to look at.

As for passive investors, StormGain offers a built-in cryptocurrency wallet that supports several cryptoassets.

Furthermore, on StormGain users can easily buy crypto using a credit card via payment providers like Simplex. For those comfortable keeping a portion of their funds on an exchange, interest rates can go over 10% per year on the exchange’s earning program. It’s important to note that annual interest rates are part of StormGain’s loyalty program.

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