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Early Investing In Ripple (XRP) Made Him A Billionaire

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Ripple
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The Late Matthew Mellon was one of the early believers and adopters of cryptocurrencies. He invested heavily in Ripple (XRP) by putting down $2 Million to invest in the coin. That investment would be worth around $1 Billion when XRP peaked back in January at around $3.65. His story is one that is worth studying for it proves that following your gut instinct, as well as doing proper due diligence before investing in any cryptocurrency, can yield beneficial results for an individual.

When interviewed back in February by Forbes Magazine, Mr. Mellon had this to say about cryptocurrencies:

“Crypto is scary and dark. It’s anti-America. I am pro-America, pro-business and pro-bank. That’s why I went with Ripple.”

In this statement, Mellon justified his choice of Ripple for it was an American based company he could trust. He had done his research and also determined that the product evident in the Ripple technology, would revolutionize banking from within the financial system. He knew Ripple was a gold mine with a solid product at hand.

When his XRP investment was valued at its peak, Mr. Mellon would discuss how his family had doubts about his idea about investing in Ripple. This is a similar reaction many crypto traders face when trying to explain their choices of investing in the crypto-verse, to family and friends. Matthew Mellon would tell Forbes that:

“It’s $1 billion virtually for free. I actually have earned it because I was the only person who was willing to raise his hand. My family thought I was insane when I knew it was a home run.”

Mr. Mellon would later die unexpectedly in April this year, leaving a vast amount of that XRP, possibly lost in cold storage. He was attending a drug rehabilitation program in Cancun, Mexico when his death occurred. His death has since raised questions about the accessibility of the XRP he owned since he was known to have kept his digital keys in cold storage in other people’s names across the United States.

His story is very unique for it shows how early research, belief in a project and investing, can pay off tremendously. We can also learn about how to keep our security keys safe and also on how to start thinking about how they can be accessed by our loved ones when we pass on.

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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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Bitcoin

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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Altcoins

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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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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