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Another milestone got crossed as BitBay adds Ripple [XRP] to its list

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Ripple [XRP] is at the same time a Cryptocurrency and an open payment platform where that currency in specific is transferred; it has gotten apart from the rest of the digital currencies because of its singularity and uniqueness on transactions.

The primary purpose of XRP is to change the paradigm of the regular banks where money cannot be moved in a free form. David Schwartz himself (Creator of the cryptocurrency Ripple) said:

“Payment systems today are where the email was in the early ’80s. Every provider built their own system for their customers and if people used different systems they couldn’t easily interact with each other. Ripple is designed to connect different payment systems together.”

This is actually one of the reasons why Ripple is gaining ground considerably among the crypto environment and financial systems; it is so simple that lots of companies want to work with it. At the moment, Ripple is being supported by more than a 100 global banks and financial institutions who choose the platform as an exceedingly efficient payment mode.

American Express is one of the huge companies that are now supporting Ripple by using its platform, and as it wasn’t big enough, now one of the most important Polish cryptocurrencies exchange is adding its support to Ripple [XRP].

The company is no else than BitBay, which recently decided to add XRP and BTC to its list. In the same way, BitBay also added another digital coin but this time one that is not so well-rated, the currency is named Infinity Economics Token [XIN], and even though that is known in the market it is ranked so much lower than XRP or BTC.

BitBay represents a great alternative to the Polish market since it provides a solution for trading securely, especially while buying or selling BTC or LTC, digital coins with a high demand these days. The CEO of the company, Sylwester Suszek, has considerable expertise in the field of finances and has co-created at least two other related-enterprises.

BitBay platforms have had several changes throughout the years; its second version, launched in 2015 had an incredible boost improving the interface and adding some exciting tools to make better the experience of professional trading.

That year they had added Ethereum and Lisk as well, right after the initiative of expanding their team from 14 to 31 members. Nonetheless, the ambitiousness hadn’t stopped by then, and after the last accomplishment, they decided to open an office in Amsterdam, the first international office of their own, which led them to develop their third platform and increase their staff even more – from 31 to a total of 70 collaborators.

An increasing value of Ripple [XRP]

In the last 24 hours, Ripple has gained a surprising increasing digit of 19.56 percent on its value, which gives currently to the company a net worth of $0.692642.

This value represents a fantastic accomplishment, but even so, it can not be forgotten that the market has been very volatile lately, passing from prices above 7000% to decreasing significantly.

Still, any cryptocurrency tends to increase their value with the time, the major problem is people not knowing enough the market and get desperate once the value decreases, which leads them to selling-off the money saved.

But as a twitter member wrote: “If you have bought #XRP just let them sit and check it if you feel the need but HODL until 2020 and stop worrying. Just enjoy life at the moment”.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

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 Shemsu.Hor via Flickr

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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