Ripple XRP cryptocurrency has been in the news for most of the current year. It’s been a mix of fact and rumors but it just keeps the industry’s attention. That is not a coincidence. The whole point of XRP is to provide a cryptocurrency for institutional transfers that are safe (as opposed to retail transactions for end users), and the fact is, it’s worked so far. Banks and other financial institutions are buying it and maybe you should as well. Let me tell you why.
The banking industry is going for it
According to Ripple’s plans for XRP, they will be partnering with half of the world’s bankers so they adopt the XRP crypto coin. This is not random. As stated before, XRP has always been meant to be a transfer tool between institutions instead of a coin for end users. That’s what Ripple meant, and that is exactly what is happening.
Ripple is just as safe as bitcoin or any other alt-currency but it’s much faster, and transactions are cheaper. The sheer speed and convenience it offers can change the game itself, keep an eye open for it.
Ripple’s processor platform is popular!
It’s handled more than a billion bucks over the last week! We are not exaggerating, everybody want’s a piece of Ripple’s processing platform. If you want credibility and stability just think a billion dollars! This achievement has come through Ripple’s partnership with Tencent Holding Limited (that happened earlier this month) but it’s real.
These transactions are both domestic and international. But the volume is huge and it just confirms how reliable XRP has become. And you should probably become part of it.
A Bank a week strategy of Ripple
More than a hundred banks are currently testing Ripple’s rapid software. It will make them liquid in no time at all. Ripple wants to have about two hundred banks in total, which means they get a new bank every week giving XRP a go. And they’re getting them. So, if Ripple will have its way, a local bank near you will be in the coin’s ecosystem before this year ends.
The xRapid system is very versatile and easy to implement so it fits into any local bank’s system quickly. Some critics say that this kind of integration into the system will make the coin lose value, but the market has disagreed so far. In the end, more transactions and increased demand can only mean this crypto coin will be more valuable. You decide on your own.
Unparalleled transaction speed
You probably know already that doing transactions through the mostly used cryptocurrencies takes time. But did you know that XRP’s transaction speed is faster than even VISA?
Speed combined with reliability is making XRP a trusted currency the world needs and more banks are going for it every week.
Remittances: XRP, not Paypal
Remittances are a huge piece of the market and the preferred way to do them over the last few years has been Paypal. That is changing. As banks realize how quick, cheap, and reliable XRP is – they’re just going for it for their international transactions.
In fact, Ripple has been so successful at this that they are now being sued (by PayPal, yes, when you are sued by a competitor that means that are afraid of your ideas) and investors are just paying attention to find out how it plays out. You should do as well, of course. The fact remains: XRP is useful, efficient, and it’s done nothing wrong. It’s just outperforming traditional financial transactions and the establishment has nothing to answer with but lawsuits.
If you are a Paypal user, you already know what financial tech and blockchain tech can do for you. Well, XRP is just like that. It’s just bigger and more convenient and it won’t be long before you feel the benefits.
Ripple wants you (the users) to hold XRP
Financial and money markets are notoriously unstable. That’s where every economic crisis has started. Ripple wants you to avoid that kind of pitfall by owning some XRP currency. It’s already becoming a world standard so you can’t fail, and as it grows, its value will surge.
Banks are being cautious and observing what happens. But they are also demanding more XRP so scarcity will bring increased value along, and you could benefit from it. By Q2 direct conversion from XRP to fiat will be available, and then you will have plenty of reasons to celebrate. Join in now.
Digital currency marketplace and Ripple’s XRP
Blockchain technology is on your side. It makes transactions so much cheaper, which users are just starting to realize now. It’s so dramatic that banks and smartphone financials could just change bigtime soon.
Just think about this: Starbucks, MoneyGram, Western Union are already in Ripple’s pocket. That means they could be in your pocket. Do you want to be in or to be left out?
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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.
Image courtesy of Jim Makos via Flickr
Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
- Little to no transparency
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- 48-72 hour wait time for withdrawals
These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
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