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Ripple’s XRP: Can it attract pension funds as a currency to store wealth?

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You’ve probably heard about CoinBase already. It’s a company based in California, considered to be one of the most important crypto exchanges in the world because of its amazing thirteen million users (that many people can’t be wrong, right?). But while it’s so well known as a coin trading site, Coinbase offers a variety of other services that are not so famous. One of them is known as “custodial service.”

That means that they accept to hold somebody’s wealth or property and make sure it stays safe and invest with it in the most reliable possible ways. It’s not a retail service, as you need at least ten million dollars to open this kind of account and, as such, it’s usually demanded by institutions that need to keep a big pool of money safe, such as pension funds.

A pension fund’s primary aim to keep money safe for the clients which is why pension fund managers are very conservative in their investment strategies and do not delve that much into the stock market. Which is not to say that they never do, several funds of this type are known to put some of their money in Blue Chip stocks it small quantities. And now the question is: will they start using cryptocurrency investment anytime soon? And if they do, how important will Ripple’s XRP be for them?

The answer to the first question is a definitive yes, just not very soon. The cryptocurrency markets are still not very appreciated by financial operators that are used to work with traditional financial tools only. But as Bitcoin and many other assets keep moving forward and showing their worth, it’s unavoidable that even people in Wall Street will start bringing some money to the table. It’s going to be a long process, but it’s already happening to a point.

What does that mean for XRP? Nothing, until recently, but things change. Coinbase just announced that as part of its custodial service it’s studying the inclusion of forty new cryptocurrencies to use to invest and store wealth, and Ripple’s XRP is among them. That is a breakthrough as, so far, Coinbase has only used for this the handful of crypto coins it offers for trade.

It would be very significant for XRP because it would give it a use that it currently does not have and that is not seeking to acquire either. Ripple’s XRP has always been a coin with a single and clear purpose which is to settle international payments in a much quicker, cheaper, and safer way than can currently be done with the outdated but dominant SWIFT system.

That’s what it’s been aiming for since its inception, as opposed to becoming a local currency (something “average” people could use to pay for goods or services), or a means to store wealth, an investment tool or any of the other typical uses associated with crypto coins.

If Coinbase decides to use XRP in its custodian service really, that would increase the demand for this token dramatically and would turn it into a wealth storing coin, besides the regular use it has typically. And more demand means higher prices and good coin performance.

It’s not a done deal yet, Coinbase is moving very carefully lately, after the Bitcoin Cash fiasco, and the announcement is, above all, a declaration of intent. But even that is significant taking into account that the same exchange has not shown any interest so far in supporting Ripple (XRP) for trade.

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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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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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Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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