The month of July is a significant one, and it might also be the month when the window of opportunity (in terms of huge returns) in the crypto market closes. Taking a look at the crypto market, the market has been bearish with lots of dips. However, three basic factors have been holding the crypto market back for the past few months. Here I’ll discuss why the month of July would be a crucial month for cryptocurrencies, especially Ripple’s XRP.
Coinbase has finally solved one of the biggest issues that institutional investors face. The problem of custody – which means where and how big institutions can store their cryptos without the fear of their funds being stolen by hackers such as instances with exchanges that have been hacked by cyber thieves.
Coinbase has found a solution termed Coinbase Custody: a service that helps to store Institutional funds. On June 2, 2018, Coinbase said this on its official Twitter page:
Coinbase Custody is officially open for business, providing secure storage of crypto assets for institutions in both the US and Europe. Before the end of the year, we hope to bring this offering to Asia as well. https://t.co/KDtMQ5TT3B
— Coinbase (@coinbase) July 2, 2018
It is important to know that the exchange platform aims to be the most trusted crypto exchange in the world. Additionally, another aim of Coinbase Custody is to make sure that the storage of funds and investments are readily available for every financial institution out there. The exchange’s new service will have a storage mechanism for its clients’ digital assets (cryptos).
The problem of custody has been on for quite some time in the crypto market. Lots of institutional investors are bothered on where their cryptos can be stored. However, the Coinbase’s CEO, Brian Armstrong stated the most crucial problem that eligible institutions face with cryptos is security. With this problem solved, the window of opportunity (concerning huge returns) of major cryptos (including XRP) will close this month, July 2018.
The regulatory environment
We do know the debate on whether XRP is a security or not. Well, lots of investors are scared if they will call XRP a security. It is important to know that Thailand skipped the big debate on whether cryptocurrencies are securities or not.
The country skipped this debate due to the fact they want cryptocurrencies in the country to boom. One fantastic thing that Thailand did was placing Ripple (XRP) with other major cryptos such as Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Stellar, and Ethereum classic, as standards for ICOs and trades to pair with.
Thailand’s move indicates that most governments are preparing to back away from holding cryptocurrencies.
If you look at the top 5 cryptocurrencies today, most of them are based in the US. One crypto that is working closing with the US government is Ripple, and they are making sure that the US government check their activities to make sure that nothing goes wrong.
Regulatory policies by the US government may not harm Ripple due to the close check and updates Ripple has been offering to make sure the US government remains at the top to other governments like China. It is safe to say that Ripple (XRP) is a cryptocurrency that can make the US government stay on ‘top of its game’ to other countries.
Why is that so, China banned cryptocurrency, but recently, they are set to lift the ban. The country knows that the use of cryptos is worldwide and modern technologies are being used in the crypto market. With that in mind, the Chinese government won’t want to be left behind in remaining competitive with the US government and other governments.
Utility issues on the edge to get resolved
The crypto market is also faced with utility issues, and they are lots of questions concerning if digital currencies are going to be used by banks or financial institutions. In fact, this is the biggest of all the issues stated here. What’s the essence of a digital asset if it can’t be used?
A crypto coin like Ripple (XRP) has excellent potential, and one day, just because of this single reason (let other Ripple blockchain pros be on the side), its price will be way more than what it is today. Ripple (XRP) has lots of exciting plans for their products and xRapid – a product that uses XRP will go into production very shortly, according to Brad Galinghouse. It is also important to know that xRapid and xCurrent are Ripple’s software and these software use XRP for liquidity.
Utility issues not only applies to Ripple (XRP) alone, but to other digital currencies. This is due to the fact if digital currencies are used continually, lots of good things will occur and the transactions of funds will be much easier for banks, Amazon, and similar platforms because of the blockchain technology. Ripple has the potential to be the first company to be used by the Financial industry for cross-border transactions.
Ripple (XRP) is a futuristic blockchain that sets its aim on long-term goals. The cryptocurrency is almost on the cusp for a breakout, and as a result, the window of golden opportunities (mega returns) might close very soon. As it stands now, it is an excellent time to invest your money in Ripple (XRP). Not just for Ripple, the month of July could be the turning point for all major cryptocurrencies. Let’s wait and hope for the best.
For the latest cryptocurrency news, join our Telegram!
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 Maxpixel.net
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…
Is Bex500 an alternative to BitMEX?
EOS now available on eToroX exchange
How Bitcoin Has Changed Online Gaming
Bitcoin2 weeks ago
The advantages of bitcoin sports betting
Featured news2 weeks ago
How Tax Agencies Are Going After Crypto Traders
Bitcoin1 week ago
The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry
Bitcoin1 week ago
Will Bakkt Push Bitcoin into the Mainstream?
Trade1 week ago
Trusted third parties should issue stablecoins, not Facebook
Trade1 week ago
Not-For-Profit GoodDollar Secures Funding For 2020 As UBI Project Celebrates First Birthday
Hot Updates1 week ago
The Best Thing to Share with Your Family on Thanksgiving
Featured news1 week ago
Five Strategies for Lowering Your Crypto Taxes