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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

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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