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Binance’s BNB and Ripple’s XRP. How are they alike?

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Binance BNB Ripple XRP
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Binance is a cryptocurrency exchange currently based in Japan (it was founded in China but they moved out as the Chinese government showed a bit of hostility towards cryptocurrencies) that doesn’t only allow for coin trade, they own their own coin as well. Ripple is also an enterprise that owns a coin called XRP. So both are private companies that have put forward an alt-coin in the market.

Both coins are demanded, and they’re performing well (ok, not in last week or so, but that’s the case of the whole market and not these two only). And both are capitalized in the billions. So there are many similarities between the laboratories and coins, let’s dig a little deeper. These labs (ok, Binance is not exactly a lab but they do a lab’s work anyway, besides doing the trade and exchange bit) do the deed, they both have their coins and they both try to help the coin perform well, let’s see how they manage this.

1. The Symbol

Names and brands do matter. They help a good product to be identifiable. The right symbol is a good presence and that is part of a great coin’s good performance. Both Binance and Ripple have the right logo, the right symbol that’s made them something of an institution in the crypto community.

2. Great marketing

Maybe you’ve heard about coin burning? It happens, and projects do it because that decreases the supply and it makes a coin scarcer so it’s value goes up. But burning coins is something projects do only after the burnt coins have created profit. Last financial quarter Binance burned thirty million dollars worth of BNB crypto coins after those coins created 150 million in profits. BNB usually takes twenty percent of gains for token burns in order to make sure it always makes sense.

Ripple is not burning coins, at least for the time being. They are using the Escrow Ripple XRP reserve to add coins into the market and that has allowed them to keep the price low at the same time it keeps steadily rising with demand for XRP increasing by 80% over the last financial quarter.

This is a sign of a couple of labs that know what they’re doing, and that are doing it correctly.

3. Competent management

Both Binance and Ripple have the talent and the leadership. They’ve made sure that the right persons have the right job and are taking the right decisions. Both organizations are efficient and they’re doing the job they set out to do as proven by the amazing partnerships they have secured lately (just think about Ripple’s 75 international banks adopting their tech, blockchain and, in some cases, the coin as well).

They know their long-term goals and they have the team that can achieve those goals. They’re working hard for them, and they’re getting there.

4. Applying the resources

Funds are not everything. Microsoft has spent billions trying to make Bing count for something and it’s failed. It’s not about the money but about the way you use it correctly. Binance (BNB) and Ripple (XRP) have used their funds very wisely in a way that has created value for their users and coin holders. That’s why their investors trust both laboratories and are prepared to go all the way with them.

Both labs keep making the right decisions so that their investors keep profiting from sticking with them. They’ve built confidence, awareness and a market presence that is very hard to match, even by Bitcoin or Ethereum.

In short: what do these two labs have in common? They’re doing everything right.

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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.

Image courtesy of Pxhere.com

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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…

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