Connect with us

Blogs

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

Published

on

Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

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.

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 Pexels

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

Continue Reading

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Elite