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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

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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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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