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Here Is How India Is a Slam Dunk For Ripple and XRP

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The beautiful country of India is known to have one of the most progressive and tech-savvy population in the world. This fact is boosted by the fact that they have a very forward-thinking Prime Minister: Narendra Modi. It is no wonder that the company of Ripple has set up shop in the country despite the ongoing Reserve Bank of India (RBI) ban on fiat-to-crypto transactions and vise versa. But this ban has some loopholes that can be exploited by both the Ripple company and XRP.

With respect to XRP and Ripple, you might notice that many online publications have started distinguishing the two assets for they are entirely separate entities. This fact has been amplified by the 3 ongoing lawsuits against the Ripple company as well as SEC scrutiny on XRP.

So how will India be a slam dunk for Ripple and XRP?

To begin with, the current RBI ban does not prohibit crypto-to-crypto transactions. This means that the tech-savvy citizens of the country can choose to use XRP for day to day transactions due to the four known qualities that will be outlined next. Firstly, XRP is highly liquid in a sense that you can get it easily in India on Zebpay and Unodax. There is also the unreported peer-to-peer transactions that are probably going on in XRP. These transactions are boosted by the other 3 qualities of the coin: it is secure, fast (3.3 second transaction speed) and cheap ($0.0001 per transaction).  This makes XRP ideal for microtransactions in the country. The fintech arena in India is growing in an exponential rate and XRP is at the forefront of this progress.

Secondly, the said exchanges of Zebpay and Unodax currently offer trading in crypto with XRP as a base pair. This is some good news for the two exchanges have seen that XRP is the future. The XRP centered trading pairs will further boost the visibility of the coin in the crypto markets.

The third reason will be centered around the Ripple company which has already set up shop in India for they know the country is a financial powerhouse. The GDP of India just recently surpassed that of the UK: imagine that! There is also the fact that international remittances into the country were valued at $67 Billion in 2017. It is no wonder the Kotak Mahindra Bank joined the Ripple network and plans on using xCurrent for local and international remittance services.

So there you have it, ladies and gentlemen. The beautiful country of India is a vital piece of the puzzle for the expansion of both the Ripple Company and XRP around the globe. The future does indeed look bright for both entities and the country of India.

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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

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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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.

Mission Statement

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,…

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CoinFlip Scores Big with BRD Wallet Partnership

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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…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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…

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