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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

Blogs

How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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