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
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.
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