The stronghold of major cryptos in the market today is the community that supports it and not the developers. A cryptocurrency community determines how far a crypto will go. The community is usually established by firmly devoted people, perhaps because their money and investments are on it.
Ripple community is such a community that is zealous and ardent in which they hope to see the cryptocurrency achieve great strides. On the other hand, Ripple XRP is a cryptocurrency that is growing, and it is a transactional protocol designed on a distributed ledger network, which needs its users to take part in authorizing transactions than any particular centralized authority.
Ripple’s primary currency is XRP, and this cryptocurrency is a service that aims to give solutions to real-life problems such as blockchain solutions. Even though Ripple is a centralized platform that gives answers to issues such as daily transactions and other real-life actions, the driving force of Ripple community is the XRP, and not xCurrent, xRapid, or xVia.
The list of benefits of Ripple is massive, and lately, the platform expressed its passion for changing foreign payments experience for Small and Medium-scale Enterprises (SMEs). During the Money 20/20 meeting in Europe, Colin O’Flaherty, Global Commercial Services’ General Manager in the UK and VP of American Express in Russia stated:
“Ripple offers instantaneous, point-to-point conversations between the sender and receiver of funds and that provides a real opportunity to alleviate most of the issues our customers are facing.”
Subsequently, Ripple’s technology has been adopted by Amazon’s marketplace and Apple store. Even with all the services it renders, it is eminent that what makes Ripple community progressing and ticking is due to the idea that SMEs are adopting XRP and solving real-life problems that people are facing when it comes to daily transactions. Besides that, the community hopes that XRP will become a global payment solution in the future. XRP is really valuable, and this is what drives Ripple community today.
The Prospects of XRP
Right now, most cryptocurrencies are in the red, and XRP is not an exception either. However, with that in mind, Ripple community does not only see the current trends in the crypto-sphere today.
It is important to note that most XRP holders anticipate essential XRP projects that are in-line for the next few months. Let the future be future for now, the acceptance of the protocol as the primary token for cross-border payments by Western Union, Money Gram, and Santander launch of mobile XRP is sure to make the cryptocurrency boom in the near future.
Other projects like the implementation of cobalt protocol (an algorithm that enhances transaction speed), a partnership with Hyperledger (which will help to accelerate the development of blockchain application), and with Santander bank will help Ripple to edge out other cryptocurrencies in the market.
With all these projects at hand, Ripple community is inevitable that there will be an improvement in the current situation of the cryptocurrency which may lead to XRP being listed on major exchanges soon. But nothing is certain in cryptosphere, so we’ll have to wait and see. And yes, until the SEC doesn’t give clearance to Ripple, the company’s praise will stay affected as a whole.
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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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
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…