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Future Crypto Exchange by SBI Holdings will Use Ripple (XRP) as its Primary Currency

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The future of Ripple (XRP) might bring some serious changes to this digital currency. For now, most of what is expected to come only includes positive effects for this crypto.

It might sound strange, but in the world of cryptocurrencies, Sundays have always been regarded as “bad days”. A lot of traders noticed that, on Sundays, there is always a noticeable decline in the market’s volume.

Despite the fact that this theory seems a bit unreal and almost like a product of paranoia, a careful look can pretty much confirm the theory. Let’s take Bitcoin (BTC) as an example. It is trading at around $9,294, while it still manages to keep its level at $9,000. It basically went down for about half a percent within only 24 hours.

Other cryptos are also acting unusually, with Ethereum (ETH) is seeing its token value at $676, while even Ripple (XRP) went to $0.85. However, when it comes to Ripple, at least, things might change a lot real soon.

Ripple’s situation might change

Throughout the crypto world, there have been certain rumors and predictions about what might happen soon. There was a massive awareness that Japan’s SBI Holdings company really likes and supports Ripple, for as long as anyone can remember. Another piece of the puzzle includes an information that the SBI Holdings plans to launch additional crypto exchange, or maybe even two of them. What’s important about this is the fact that, if they do so, they will use Ripple trading as the exchanges’ base.

SBI’s original intention was to enter a partnership with Huobi in order to open these two exchanges. However, since crypto regulations regarding the exchanges are rather strong in Japan, the company gave up on that deal. Instead, they decided to try and complete this project on their own, which led to the creation of their exchange called SBI Virtual Currencies. They did it in order to improve their project’s security.

According to some speculations, it is possible that the project will see its launch during the Summer of 2018. Another thing that is expected here is that the exchange might enter FIAT/XRP pairing with other Asia’s big currencies. What this means is that Asian countries of Japan, that uses Yen, and South Korea, which uses Won, might end up trading with each other directly through XRP.

XRP is popular in Asia

XRP is seen as one of the biggest cryptocurrencies in the market right now, and the majority of that popularity comes from Asia. For example, some estimations claim that over 3.5 million XRP traders and holders are Japanese. They, of course, use other currencies as well, but XRP seems to be a local favorite for this area.

As for South Korea, its influence on the crypto world and market was experienced first hand when the government decided to ban digital currency trading. The end result was that the markets seriously tanked before anyone realized how big of a deal it will really be.

With that in mind, it is safe to say that the confirmation of SBI Holdings’ exchanges and their use of XRP/FIAT will also have major consequences. This will probably have a very positive result for Ripple, and it is estimated that its price might go up to $10 before the year ends. Obviously, this will be a great win for XRP, and the only thing standing in its way right now is time itself.

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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.

Image courtesy of Victor Escandon via Flickr

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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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

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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