the richest man in the world Elon Muskhas confirmed when public access to X Money will be available. This has led to speculation about what to expect from the feature, especially about possible crypto integration.
Elon Musk reveals when public access for X Money will be next month
In one X postElon Musk has revealed that early public access for X Money will begin next month. This marks a major step forward as the world’s richest man plans to turn the social media platform into a ‘Everything Program.’ Crypto traders are currently predicting that the launch of X Money will not happen until the end of April.
At Polymarket, there is currently only a 15% chance that X Money will be available for sale by April 10th. Meanwhile, there is a 73% chance that it will go on sale by April 30. As for what to do, market commentator. Mario Naufal said that the movement is expanding Elon Musk’s X to paymentsbanking and crypto with the purpose of all in one “Everything App”.
He further noted that early access will allow users to test peer-to-peer (P2P) transfers, merchant payments, premium accounts, and crypto integration. Full release is expected later this year. Crypto expert Satoshi Club noted which is part of X Money’s payment features includes a debit card, both physical and virtual.
Plus, users will enjoy high yields on their balances, with early testers reportedly earning up to 6% APY in cash. There will also be 3% cashback on purchases, while deposits are FDIC insured through Cross River Bank. Users can create instant P2P payments using Visa Direct.
Satoshi Club added that the most interesting part is the Smart Cashtags. Users can click Bitcoin, Ethereum, XRP, Dogecoin and other currencies directly in the posts and buy or sell assets without leaving the social media platform.
Dogecoin corner
In Price of Dogecoin It rose nearly 7% on the back of Elon Musk’s announcement that early public access to X Money will begin next month. Crypto expert Hirad noted that DOGE was the first crypto to react to the news about X Money, noting that it had happened many times before. The expert added that Musk will announce and then DOGE will pump first, which will make the market think about integration.
Relatedly, Wise questioned whether X Money would eventually provide a real service for DOGE in X, or if it was just another joke-based trade. Elon Musk has not yet confirmed the degree of crypto integration on the platform and whether or not it will be enabled payments in Dogecoin and other cryptographic assets.
Dogecoin payments remain a possibility, especially given the closeness of the world’s richest man to the meme coin. He also praised Bitcoin last year as inflation-proof, especially given that it can’t be printed out of thin air like fiat.
Featured image from Unsplash, chart from Tradingview.com
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