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Why HODLing XRP, BAT, and EOS is a Smart Idea

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The crypto market continues to grow, even though the prices of its many coins were severely damaged during the so-called ‘crypto winter’ of 2018. Even so, the market has grown a lot, and it currently features over 2,100 digital currencies, all parts of their own projects, with a goal of making an impact and entering the mainstream.

Of course, it goes without saying that not a lot of these coins have real potential. Many of them came to be during the ICO craze of 2017 and early 2018 when investors were willing to buy just about any coin. As a result, new startups emerged, each offering its own cryptocurrency. Most of these coins are believed to be bad projects with no future, with only a matter of time before they are declared ‘dead.’

However, there are several coins out there which are worthy of investing in, as well as HODLing on to them. Three such coins that we will focus on today are XRP, Basic Attention Token (BAT), and EOS.

XRP

Let’s start with XRP. This is a coin created by a company called Ripple Labs. As a result, the coin has a strong connection to the company, which many have taken as proof that it is not a real cryptocurrency, that it is centralized, and that it will eventually fade away as a bad project. However, Ripple Labs continues to deny having authority over XRP and its network, and over time, they distanced themselves from the coin, proving that it can actually exist without the company’s support.

Meanwhile, XRP remains a coin that fuels the company’s products such as xRapid, and this is where its main use case lies. xRapid, as well as several other Ripple products,  have a very important use case, and that is the ability to send international payments almost instantly. This is a massive step up from old technologies used for sending cross-border payments, which often result in days of waiting for the transaction to get completed, as well as large fees.

Because of this, XRP has earned itself a name of ‘remittance coin,’ and banks around the world have started accepting it as one of the main components of xRapid. Because of this, holding XRP may be a very smart decision, as the coin is bound to eventually grow in price and become one of the most used cryptocurrencies in the market.

BAT

Basic Attention Token, or BAT, is a coin that aims to disrupt the way online advertising works. The coin is the main component of Brave browser, an internet browser which blocks ads and trackers by default, allowing users to choose to view ads when they themselves want to. In exchange, they are rewarded with a certain amount of BAT tokens.

This system has the potential to completely change advertising, and take the power away from intermediaries such as social media networks. These are the websites to which companies need to turn to and pay massive amounts in order for their ads to be displayed. Meanwhile, those ads are not what the users want, so they use ad-blockers and similar devices, meaning that the companies are wasting large amounts of money with no returns, while mediators such as Facebook and other similar firms take all the profit.

Brave and BAT will bring companies in direct connection with the internet users, and allow them to get direct feedback. Meanwhile, as mentioned, users have an actual incentive to view ads, as they themselves are getting paid for doing so and providing valuable feedback. With such a large potential to impact advertising, BAT is bound to be one of the big coins in the future, and it is more than worth having it now.

EOS

Finally, there is EOS. EOS is a development platform as much as a cryptocurrency, and similarly to Ethereum, it allows developers to create smart contracts, decentralized applications, and even new tokens. Because of this, EOS is often considered to be a potential Ethereum Killer, as it does the same thing as Ethereum, only faster and better.

However, EOS had some problems during the launch of its MainNet, as well as later on, which have made it somewhat controversial, and there are many who believe that Ethereum is still a better choice.

But, EOS seems to have resolved its issues, and it also created a number of interesting dApps, although none of them have yet earned the name of ‘Killer dApp.’ Eventually, one such app will likely appear, and it will potentially have millions of users. When that time comes, those HODLing EOS might wake up to a massive surge in the coin’s price, which is why it might be smart to invest in it early.

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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

KaratGold Proves Its Business Model By Providing Official Documents

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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…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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