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Here Is Why Even Weiss Ratings Wants XRP as a Base Currency on Binance

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XRP
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The Weiss Ratings firm – that was founded in 1971 – prides itself as being one of America’s leading provider of independent, unbiased, trusted ratings of Stocks, Mutual Funds, Cryptocurrencies, ETFs and financial institutions. The firm recently held a Twitter poll asking users which was the best digital asset to move funds between exchanges. XRP emerged victorious in a list that included Bitcoin (BTC) and Ethereum (ETH). The full poll can be seen below.

With 78% of the 7,598 poll respondents picking XRP, the corresponding XRP community went on to list reasons as to why XRP should be added as a base currency on Binance. They did so by replying to the twitter post above. The reasons were as follows:

  • It would help Binance for it is faster (3.3 sec) and cheaper ($0.0004)
  • A base currency of XRP would bring in more users to the exchange
  • XRP is the fastest digital asset to transfer funds between exchanges
  • Other exchanges are continually warming up to XRP as a base currency
  • XRP would attract the big money movers – also known as whales – who’d increase the trade volume of the exchange: a win-win situation
  • It is the natural and progressive thing to do given the popularity of XRP

It is with this background, that the Weiss Ratings firm has then agreed with the XRP community via posting a tweet as follows:

“We think that the #XRP is the fastest digital asset to transfer funds between exchanges. It only makes sense for #Binance to use it as the base #currency – why should one have to go through an intermediary currency to trade? #crypto #btc #altcoins”

Binance currently has base currencies of Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB) and Tether (USDT). An addition of XRP as a base currency would go on to add to the diverse options traders have on the exchange. XRP would allow for funds to be moved faster between exchanges into Binance thereby providing a win-win situation for both sides of the argument. In the case of Binance, it would mean more business through high trade volume.

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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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