2019 has only just started, and already, crypto investors around the world are optimistic about the future of many cryptocurrencies this year. While a lot of crypto issues are expected to be resolved, and many coins are likely going to have an eventful year, the community is very much interested in what to expect from the coins at the top, especially XRP.
XRP, for example, has been the second largest coin by market cap for almost two months, until it lost the position to Ethereum on January 2nd. However, while ETH may have made a comeback after dropping in November’s market crash, this doesn’t make XRP a bad coin.
XRP’s 2018 performance and issues
It is no secret that XRP had a lot of issues to deal with in 2018. The coin was accused of being security numerous times, not to mention several lawsuits against its parent company. XRP was also accused of being centralized, which Ripple Labs worked hard to prove wrong.
However, at one point, the situation turned. XRP became quite reputable, and while there are still those who are skeptical of its nature or future, it is currently doing rather well, considering last year’s events.
As many are aware of, XRP is the coin meant to be used with Ripple Labs’ payment products, such as it’s biggest current hit — xRapid. The company is dedicated to providing quick and cheap payment solutions that can make international payments nearly instant. Considering the dire need for upgrading current payment systems, which often take days to complete a single transaction, many banks around the world were quick to open up towards the possibility of integrating these products into their everyday businesses.
As a result, over 120 banks and financial institutions from all corners of the world have partnered up with Ripple, and this is one of the things why XRP is guaranteed to have a bright future. Without XRP, Ripple’s payment products do not work, meaning that the coin has already found one way of going mainstream, and many expect it to be the first cryptocurrency to do so.
Thanks to these possibilities, as well as Ripple Labs’ pretty good reputation, XRP has managed to make significant progress even while losing value in 2018’s bearish market. It also manages to keep competition under control, as no other coin attracts banks as much as XRP.
XRP in 2019
So, what does all of this mean for XRP’s future? Well, the first thing that should be noted is that Ripple’s and XRP’s actions in 2018 managed to set an excellent foundation for the coin’s future development. There is always room for improvement in the crypto world, and Ripple is expected to partner up with more banks, remove the potential issue, and maybe even launch new products this year.
It is currently among the fastest coins on the market, being able to complete transactions in only 4 seconds. In comparison, ETH takes over 2 minutes to do the same, while Bitcoin can take more than an hour. And, as mentioned, traditional payment systems rarely complete the process under 3-5 days. XRP’s biggest current competitor is Stellar, which can do it in 3 seconds. Also, the coin can handle around 1,500 TPS, and it can be used for making transactions at any time of day and night.
Meanwhile, Ripple’s CEO, Brad Garlinghouse, remains optimistic of the coin in 2019. While nothing can be claimed with certainty when it comes to crypto, many believe that this might be a true year of crypto. The hype of 2017 is now in the past, and many are hoping that the same can be said for last year’s price correction. In other words, crypto is now supposedly free to advance at a steady pace and expand truly great projects into the coins that will dominate the future of payments.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…
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