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Here’s Why The Ripple (XRP), SBI Deal Is So Important

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“Not only does it have a clear use case, XRP is faster, cheaper and more scalable than any other digital asset… I strongly believe it will become the global standard in digital currencies.”

That’s what Yoshitaka Kitao, CEO and Executive Chairman of SBI Holdings, said in August 2017. SBI is a financial services company group based in Tokyo, Japan and its subsidiary, SBI Securities, is Japan’s largest online securities company with more than 4 million brokerage accounts.

XRP Daily Chart

XRP Daily Chart

Fast forward to January 30, 2018, and SBI launched SBI Virtual Currencies – an exchange with the following remit: to provide a respected and reliable exchange for both its institutional customers and individual digital asset buyers in Japan.

And here’s what’s important – the platform has launched with XRP as the only digital asset supported.

Why is this important?

Well, as per the report that outlined the development, SBI VC is looking to join the xRapid ecosystem — which is Ripple’s enterprise-grade solution — to help institutions source liquidity for cross-border payments between Japan and the rest of the world. In line with this, Ripple will integrate SBI VC’s APIs so that xRapid users can convert XRP to JPY and JPY to XRP instantly through SBI VC.

We’ve written numerous pieces on the various partnerships that Ripple has secured with big-name institutions and the impact that these partnerships could have on the company long term. What we’ve written less about, however, is the uptake of XRP as an integral part of what Ripple’s proprietary technology is trying to achieve and – in turn – the potential for long-term upside revaluation for XRP going forward.

This deal, outlined above, is one example of exactly that.

There’s a reason that SBI has decided to go with XRP as its launch-token and that’s that it’s one of the only cryptocurrencies that has been developed in line with a specific enterprise use case and that – and this is important – it has been validated against this use case time and time again.

Sure, we’ve seen white papers tell us why such and such a coin is going to be the next big thing in privacy and anonymity. Sure, we’ve seen companies tell us which institutions they intend to knock off the top spot in their respective industries.

What we haven’t seen, however, outside of Ripple and XRP, is a company and its underlying token perform against (and, indeed, outperform against) its own targets and the expectations of the community that supports it.

Right now, XRP goes for $1.12. That’s a close to 9% discount on its price this time yesterday and a huge 66% from highs recorded at the start of this month. Sure, these highs included the premiums that South Korean exchanges applied to the markets, but even excluding this premium, Ripple is down considerably. It’s not the only coin that is, of course. Despite that, twenty-four-hour volume is well above $1.56 billion.

In line with the overarching decline in the market, people are looking at some incredible discounted entry opportunities right now. With that said, this isn’t a time to just pick up any coin – there are some real winners when this sort of thing happens and these winners are those coins that have declined in line with the overarching market weakness but that, at the same time, have advanced fundamentally.

Ripple, as far as we see it, checks both of these boxes.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

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.


Image courtesy of Ripple

Bitcoin

Cryptocurrency Fraud is Evolving; Bitcoin ATMs Mitigate Risk 

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Cryptocurrency Fraud is Evolving
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In one of the more overlooked aspects of the crypto ecosystem, it appears that the bulk of illicit activities are shifting from hacks and thefts to cryptocurrency fraud and scams.

CipherTrace, the crypto-surveillance, and analysis firm released a report at the end of Q4 2019 that revealed hacks and thefts had decreased by 66 percent in 2019 while fraud and misappropriation of funds surged by 533 percent. And beneath the COVID-19 hysteria of 2020, hacks in the crypto sector have been eerily isolated. 

Outside of a few exploited flaws in P2P exchanges and DeFi flash loan vulnerabilities, the headline-grabbing hacks of exchanges for hundreds of millions of dollars have been absent so far this year. Is the industry due for another massive hack, or are stringent KYC/AML processes, regulatory crackdowns, better security practices, and blockchain surveillance working? 

KYC/AML Improvements Are Reducing the Appeal of Crypto Exchange Laundering 

2020 is far removed from the no-KYC wild west days of the early-mid 2010s where anonymous altcoin casinos preponderated and the Dark Underbelly of Cryptocurrency Markets thrived. 

Today, bitcoin and the crypto ecosystem is becoming institutionalized with a surfeit of derivatives (e.g., options, futures, perp swaps, etc.) available on…

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IE Option – 91% Profit on BTC Fluctuations in Every 60s

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On Thursday, Bitcoin price broke below $6,700 and hit the weekly low to $6,480. Then, it rebounded back above $7,000 again with an increasing rate of 5%. At press time, based on the incomplete statistics, more than $720 million worth cryptocurrency futures contracts have been liquidated in this week. During the strong market fluctuation, investors are learning a hard lesson about the downside of cryptocurrency futures trading with leverage. 

Since we know that we cannot make money by investing in BTC spot trade during the bear market, and we notice the high risks of liquidation by trading leveraged bitcoin futures contracts, how can we hedge the loss in spot trade and profit from the BTC market volatility? 

BTC Option is a profitable trading product that you can turn to!

What is Option?

Option is a type of crypto derivative contract which enables investors to make speculative bet on price rising and falling. Call option means that trader long BTC at a given strike price, while Put option allows trader to short BTC at a given strike price. 

For example, if you predict that BTC price may surge, you can buy a call option. Suppose that you buy a call option at $7,000. As long as price exceeds $7,000, you can make profit. 

IE Option – Get…

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4 things you should know about bitcoin casinos

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Bitcoin casinos
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Bitcoin Casinos are the ideas of innovation, firmly moving towards the goal of disrupting the whole Gambling Industry. Best Bitcoin Casinos are the true trailblazers of the new era of gambling. Their creators quickly recognized all the immense potential that blockchain and cryptocurrencies contained within themselves. Most of the top Crypto Casinos started operating in the first half of the past decade and are quickly moving towards being the dominant force, when it comes to online gambling. There are a couple of key characteristics and advantages that elevate BTC Casinos above the rest of the competition on the market.  

Trusted casinos have fast withdrawals

Only the Best Bitcoin Casinos offer players the benefits that come with using cryptocurrencies as the main source of finance. One of the biggest advantages that BTC Casinos have over the rest of the competition is speed. When using cryptocurrencies, players can deposit and most importantly withdraw their money with blistering speeds. Thanks to blockchain technology, all the financial transactions are completed within the minutes of request. Alternatively, standard online casinos operating under the guidance of classical banking intuitions, need several days to complete the same procedures.

In BTC Casinos anonymity matters 

Another amazing benefit of Bitcoin Casinos is the ability to stay completely anonymous during the transactions and gameplay. Thanks to the…

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