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Crypto

Flexa Crypto Support Is Jumping by Leaps and Bounds

It seems that Flexa has taken a page out of the Coinbase book this holiday season. The increasingly popular digital payment network has been rolling out a robust new round of supported cryptos. In a marketing campaign called #25DaysofFlexa, the Flexa crypto support is growing rapidly.

Flexa crypto wallet spending Bitcoin.

Leading up to this campaign, Flexa supported 12 cryptocurrencies. This was in addition to a handful of digital dollars and a baker’s dozen of digital tokens. But that changed on December 1, when Flexa added Solana to its stable of supported cryptos. However, that proved to just be the warmup to the Flexa crypto offerings.

This month, Flexa has added DAI, SUSHI, MATIC, SKALE, LUNA, and more than a dozen other cryptocurrencies to its quickly growing list of supported tokens. It’s obviously a long list, so there’s no need to showcase them all. However, in what may or may not be a sideways glance towards Robinhood, it recently added SHIB to its roster.

While we may be reading between the lines a bit, it’s no secret that a lot of the SHIBArmy want easy access to the Shiba Inu token. There’s a little more than a half-million of them, in fact. As for why so many people want to be able to easily invest in SHIB… Well, that’s a story for another time. Let’s just say people love their memes and leave it at that.

Why the Influx of Flexa Cryptos Is a Big Deal

For the most part, investors look to cryptocurrencies as an asset. One to hold, let appreciate and eventually sell down the line. And it should surprise exactly nobody that now isn’t the best time to sell. Bitcoin, Ethereum and Solana have all entered bear market territory. After having shed more than 20% in value from their respective highs, the crypto markets have been experiencing a bit of a crash.

Some investors that have gotten into crypto recently, might not have much in the way of gains to show off. However, crypto’s usefulness is growing beyond the simple buy and hold strategy. Namely in its buying power.

This is where the Flexa crypto support starts becoming a lot more interesting. Flexa, as was mentioned above is a digital payment processing service. It allows businesses of all sizes to accept payment in their customer’s choice of currency. At it also deals in U.S. and Canadian dollars, or course. The Flexa payment network is helping accentuate the “currency” part of cryptocurrencies. And it’s accepted at more than 40,000 stores across the U.S.

Looking to pick up Yuval Noah Harari’s latest book? (And you should, Sapiens is an excellent read.) No problem, you can head over to Barnes & Noble (NYSE: BNED) and pick it up with any of your Flexa-supported crypto holdings.

You can also take your crypto to Lowe’s (NYSE: LOW) and finally pick up that table saw you’ve been eyeballing. Or if you’d prefer some downtime with a new videogame, you can head to GameStop (NYSE: GME) and trade your crypto for the new Call of Duty.

And for what it’s worth, not cashing out, and actually spend crypto can help take some of the sting out of a rough couple of months.

#25DaysofFlexa

It’s also worth noting the #25DaysofFlexa campaign hasn’t only been about the new Flexa crypto support. There has also been a little bit of charity thrown in there with some other consumer friendly news to boot.

Earlier this month, Flexa donated $10,000 to Diversity in Blockchain. This nonprofit organization is working to improve equality in the blockchain space. Yes, we realize this is a tax-deductible move done at least in part to drum up some press (guess it worked). But it’s an easy cause to get behind. So we still applaud Flexa for the effort.

But on the consumer side, Flexa also announced a rewarding partnership with Regal Entertainment Group (NYSE: RGC).

As you can see, all you have to do to save some crypto down the line head to a Regal Cinema, bring a Flexa-enabled wallet app and you’ll be able to save 20% off the following two payments you make using it. It may not be as rewarding as a 20% boost the crypto markets (come on, Santa!), but every little bit helps. And any service looking to expand the usefulness of crypto is doing the right thing by us.

The Bottom Line on The New Flexa Crypto Support

When the 2018 crypto crash hit, so many folks thought it spelled curtains for this grand new experiment. But crypto (in many of its iterations) stormed back and then some. That being said, perhaps we’ve entered into yet another crypto winter. We’re still taking advantage and buying the dips. But what these Flexa crypto announcements boil down to are growing adoption.

We now have hedge funds built around treating crypto like an investment. Cryptocurrency is being applied to retirement accounts. Heck, countries like El Salvador are even making crypto their legal tender of choice. And it wouldn’t be at all surprising if more follow suit.

Cryptocurrencies will continue to ebb and flow in value. It’s part of their charm. But companies like Flexa and Clover Finance are doing an important job of destigmatizing crypto. It’s no longer just the investment choice of college students and computer nerds. Cryptocurrencies are slowly but surely becoming valuable currencies. And that’s regardless of what the Financial Crimes Enforcement Network thinks of them.


About

Matthew Makowski is a senior research analyst and writer at Investment U. He has been studying and writing about the markets for 20 years. Equally comfortable identifying value stocks as he is discounts in the crypto markets, Matthew began mining Bitcoin in 2011 and has since honed his focus on the cryptocurrency markets as a whole. He is a graduate of Rutgers University and lives in Colorado with his dog, Dorito.

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