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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

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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SonicX
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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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