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So you’re investing in cryptocurrencies? Just watch Ripple’s XRP

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Haven’t you heard about Ripple over the last few weeks? You were probably dead or hiding under some rock because it’s been grabbing all the crypto world headlines. That’s not a coincidence at all. Ripple has been proving that it’s not just another project or cryptocurrency but a fully working solution for the global problem of international transactions.

Ripple’s blockchain technology and currency are not just persuading the cryptosphere of how useful they are, but they are also enticing some of the world’s biggest firms that would not have come close to the blockchain tech otherwise. If you are an investor you should keep a close eye on Ripple, let us tell you why.

It will keep growing

Recently Banco Santander announced the release of OnePay FX which is a blockchain app intended to make international transactions quicker, safer, cheaper. And it’s based on Ripple’s technology (it also uses the coin sometimes).

The partnership with Banco Santander is a huge deal. This is the bank considered to be the world’s best as of today, and it has a presence everywhere in Europe and the Americas. Santander will use Ripple’s blockchain and platform to carry out its international transfers, improve their customer service dramatically and save a ton of money on the way. This makes Ripple an essential player in this field as one of the very few crypto coins that have managed to find its way to the mainstream and provide a real-life service for actual people and actual firms.

Keep in mind that the financial industry is very conservative and very averse to change. If Ripple has persuaded them to adopt their platform and the coin (to some extent, to very little extent as of now) to do things differently, it’s because the service they are providing is precious indeed.

And new partnerships with some of the big world players keep getting announced frequently. Western Union, MoneyGram, InstaRem, BeeTech, and many others are already on board and enjoying the benefits. This creates confidence and curiosity for other financial institutions that are not still in the Ripple Net, but it can only mean many of them will also join soon. Mark our words, Ripple can only grow.

Ripple’s 1.0.0 is here, and it will be a game changer

About a couple of weeks ago, Ripple team announces the release of Ripple 1.0.0. The update has been in the works for six years already. It includes many improvements for Ripple’s platforms. This update will make the decentralized network mature, and more stable and current users and operators are being encouraged to update to the latest version. It also enhances the XRP ledger which is at the heart of Ripple’s service.

The SBI platform: Just fantastic

SBI is one of Japan’s largest banking services, and they’ve just launched a platform for virtual currencies. This is excellent news for Ripple’s XRP coin because transfer fees will use XRP and thus creating new demand and improve the asset’s performance. SBI has plans to add more features next month; the advancements in SBI’s system will surely impact XRP positively as it’s set as the primary currency on the platform.

Of course, SBI Holdings’ crypto exchange and release of Ripple’s 1.0.0 are just a couple of reasons to believe that the crypto is bound to fly. Ripple is showing how a cryptocurrency can make a difference in the real world by improving over traditional solutions to existing problems. It’s faster, more scalable, more available than Bitcoin and it’s on its way to becoming the most used crypto coin all over the world. And on top of everything, it is still very cheap ($0.56 at the time we write this).

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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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Altcoins

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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Altcoins

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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