Connect with us

Altcoins

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

Published

on

HODLing
READ LATER - DOWNLOAD THIS POST AS PDF

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.

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.

Photo by Burak K from 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