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.
— AtomicWallet.io (@atomicwallet) November 6, 2018
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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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
The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges…
4 Reasons Why the New Bitcoin Rally Is Unlikely to Stop Now
After more than a year of declining prices, the crypto market is finally seeing a period of serious recovery — one that has already brought digital currencies to heights not seen in over half a year now.
Only days ago, Bitcoin surged past several major resistance levels and managed to exceed its yearly high of over $8,000. Already, many skeptics are predicting the soon end of the bull run, and the possibility of yet another sharp decline. However, there are signs that suggest otherwise — that this bull run is only getting started, and that it will not end anytime soon.
There are four reasons why this is the case, and they are as follows:
There is the long-awaited Bitcoin futures exchange, Bakkt, which recently announced that the July test date for Bitcoin futures is soon to be set. Bakkt’s launch was delayed multiple times already, so the announcement came as quite a surprise. However, it appears that it will happen quite soon, after all.
As soon as its arrival becomes a certainty, Bitcoin will likely skyrocket even further, just like gold did when gold ETF appeared in 2013.
2) Bitcoin completely ignored the hacking of Binance
Binance has been the largest crypto exchange by trading volume for a while now, and as such, many expected that, if anything were to happen to it, Bitcoin…
The New Rally Has Arrived: Crypto Market Cap Goes up by $24 Billion Within a Day
The crypto market’s recovery progresses further, and at a rapid pace, at that. Bitcoin has just surpassed the $8,000 mark, which is the first time its price has been that high since July of last year. In addition, the entire crypto market is making billions within hours.
Bitcoin (BTC) sees another serious surge
In the past 24 hours, the total crypto market cap has gone up by around $24 billion. Meanwhile, BTC price has grown by $1,000 within the same period, as the largest coin traded barely above $7,000 on early Monday. At the time of writing, the coin’s price sits at $8.014.31, with a 14% growth in the last 24 hours. Meanwhile, the BTC market cap has gone up to $141.85 billion, and even the coin’s trading volume surged to over $31 billion.
While many are wondering whether this is a return to the massive heights seen back in 2017 or only a temporary surge which will soon see a correction — no signs of an upcoming decline have been noticed as of yet. In fact, new heights were made and then exceeded multiple times in the past week, with a massive 33% gain during that time. And, with Bitcoin’s dominance at 60%, many are expecting that massive altcoin surges are to be expected as well.
The growth of altcoins can already be seen, as Bitcoin…
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