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Users can now buy XRP via AtomicWallet with $20k maximum daily amount

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XRP

You probably already know that Ripple’s XRP cryptocurrency was never meant to be a retail currency. That’s to say that, for years, Ripple has not been interested in people like you and me being able to buy XRP tokens and use them to pay for goods and services or to store wealth. The point in the token is to be a mediating currency that would help, along with Ripple’s many platforms and services, to eliminate friction from international payments.

The times are changing. Ripple is still trying to make its token the world’s premiere mediating currency for banks, remittances, and financial institutions, and it’s slowly but surely succeeding.

It has more than 100 clients around the world that include some of the world’s biggest banks. Banco Santander, which is considered to be the world’s best bank currently, is already using Ripple’s technology to settle payments through an app for clients.

With Santander’s app, you never buy XRP directly, as an end user. But the payments you send to other users using the app are settled across borders by the system buying XRP, sending it across the globe, and then selling it for the fiat currency in which the other user must be paid.

That’s not to say that XRP has been unavailable to crypto enthusiasts. It has been. But it wasn’t straightforward to buy, and you usually couldn’t buy it directly (using a debit card in an exchange, for instance) but you had to exchange it for Bitcoins or some other of the cryptocurrencies that are considered base currencies in the world’s exchanges. That’s why today’s news is so relevant.

As of today, you can buy XRP using Atomic Wallet, paying directly with any valid Visa or Mastercard debit or credit card.

Atomic Wallet is a cryptocurrency wallet known for its versatility. It’s available for Windows, macOS, and three Linux distributions (Ubuntu, Debian, and Fedora). There’s also a mobile version for Android and iPhones.

The wallet uses its proprietary Atomic Swap technology, which is a decentralized technology that uses a cross-chain exchange to avoid third-party risks. It supports almost more than 300 cryptocurrencies, most of which are the ERC20 tokens developed on Ethereum. But it also supports many important coins that are outside the ERC20 environment such as Bitcoin, XRP, Tron, Bitcoin Cash, Monero, XLM, Cardano, and EOS just to name a few.

The buying procedure is relatively simple. All you need to do is to download the software into your computer or cell phone, choose the amount you’d like to buy (there’s a USD 20,000 daily cap), fill up the verification form, and then receive the tokens in your wallet address.

Atomic Wallet’s website claims the whole process is safe, quick and takes about 25 minutes, on average, from beginning to end. And you can do it from a mobile phone if that’s your fancy.

The credit card payment is processed by Simplex, which is certified in the EU as a card processing company.

So Ripple keeps getting more partnerships that make its token more available to crypto enthusiasts, and not just for Ripple’s institutional partners. This increases demand for the currency, trade volume, and that, in turn, increases value. This is one of the reasons why, as we write this, the coin is trading at USD 0.533, after it broke the $0.40 psychological barrier last week.

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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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Elon Musk Advises Crypto Users To Secure Their Crypto Keys Properly

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The crypto community has not gotten over the fact that the world’s richest man has now invested in Bitcoin and has been pretty active in the industry.

However, the community is now receiving security tips for storing cryptocurrencies from Tesla’s chief executive officer. While pointing the security of cryptocurrencies, Tesla also criticized Freewallet app, a crypto wallet for its slack in security.

He also added that crypto investors should not bother doing business with wallets that don’t provide them with private keys.

Users should store their private keys

The unique way cryptocurrencies are stored makes them not redeemable when the keys are lost. Whether the holder stores them with third-party custodians or exchanges, the owner can only claim them when they provide keys to the crypto funds.

That makes securing the keys the most important thing when dealing with cryptocurrencies. As a result, selecting the safest hot or cold wallet is a priority if users want to keep their crypto investments safe.

Elon Musk has come out to advise investors to always store their private keys personally. For a company to receive the attention of the world’s richest man is something to take advantage of to grow. However, FreewalletApp’s short conversation with Musk is a sort of negative publicity to them.

After the company engaged with Musk about a Dogecoin-related post, the Tesla founder pointed out faults with the firm.
He advised digital asset investors to stay…

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Partnership Between Bridge Mutual & AllianceBlock Announced

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Decentralized peer-to-peer discretionary digital asset coverage platform Bridge Mutual has announced a partnership with AllianceBlock. AllianceBlock is a decentralized, blockchain-agnostic layer 2 protocol bridging decentralized finance with traditional finance. The partnership will allow AllianceBlock and Bridge Mutual to provide traditional investors with a protected bridge to DeFi through decentralized coverage. 

“Discretionary coverage is a very important part of our ecosystem, so we are excited to partner with Bridge Mutual and leverage each other’s technologies,” says Rachid Ajaja, CEO of AllianceBlock. “We look forward to building an ecosystem where all participants have access to the best products while mitigating the ever-present risk of smart contract failure, hacks, and the resultant loss of collateral value.”

In 2020, as much as $200 million worth of digital assets was lost in attacks on major digital asset services. Bridge Mutual’s platform gives users the option to purchase and provide discretionary coverage, reducing investors’ risk of losing funds because of theft, exchange hacks, stablecoin price crashes, exploited contracts, and other vulnerabilities in digital assets. 

By using Alliance Block’s multi-pair liquidity mining platform, Bridge Mutual will be able to offer BMI token holders instant liquidity through staking and high APY rewards for a variety of pairs. Once integrated into AllianceBlock’s P2P lending platform, Bridge mutual will be able to provide coverage to investors. Additionally, Bridge Mutual is working towards…

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