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NEM (NEM) or Ripple (XRP), which cryptocurrency is the best bet right now?

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NEM Ripple XRP

There is no denying that Ripple (XRP) and NEM (NEM) have been gaining popularity even in the murky waters of cryptocurrency. There are more than 1500 virtual currencies and blockchain platforms in the market today, making it a confusing activity to a beginner to know which coin they should select and invest in aside from the popular Bitcoin.

Some of the digital coins that have stood out from the pack include Ripple (XRP) and NEM that have won the hearts of many investors. However, there a lot of traders and investors who are not sure which one they should invest in.

Here in this article, I intend to have a closer look at these two digital coins and try to determine which one of them is better than the other, and which one has a higher chance of reaching the coveted 5 US dollar mark target.

So, if it came down to choosing between Ripple (XRP) and NEM, here are some facts you might want to consider to assist you in making the best investment decision.

NEM (XEM)

Although still new in the cryptocurrency sphere, NEM is quickly evolving and making a name for itself by providing much-needed business solutions.

Described by many crypto enthusiasts and pundits as the new cool kid in the block of virtual currencies, NEM is not only performing better than most virtual assets in the market but also proving to be superior concerning technological advancements and functionality.

What this blockchain technology and currency do is allow businesses and individuals to securely store data and information unlike other cryptocurrencies such as Bitcoin, which store data and information belonging to their investors.

The NEM platform can effectively secure any file or document a user can store on their personal computer. What this means in simpler terms is that your data and information which you chose to save is kept protected with little or no chance of external tampering.

Using the NEM’s blockchain technology, users can rest assured that their file structure is safe and would remain in its original format.

A new set of codes are the ones responsible for the development of NEM, that has not been witnessed before in other codebases developed cryptocurrencies that are in existence.

Although NEM has not been in the crypto market such a long time compared to other virtual currencies like Ripple (XRP), it has managed to beat the odds of impressing various investors. This can be backed up by the fact that its price value has managed to maintain an upward trend in the recent past.

Currently, the value of the digital coin is at $0.10236 per token, currently in the green zone on CoinMarketCap.

Ripple (XRP)

Just like NEM, Ripple is also a different type of cryptocurrency in the market, as it specializes with financial institutions and banks by facilitating international payment transfers at low-cost fees regardless of the geographical topography or currency in use. Ripple also deals with other virtual currencies such as Bitcoin in their dealings.

Concerning consensus, Ripple (XRP) in comparison to Bitcoin reaches consensus faster working to its advantage in onboarding influential and prominent clients such as Bank of America, UBS, BMO among many others.

Unknown to many, Ripple (the company behind XRP token/cryptocurrency) is older than Bitcoin. Yes, you heard that right, Ripple is more former than Bitcoin as its initial release was created in 2004 although it was released in 2012.

Comparison between Ripple (XRP) and NEM

Concerning price appreciation, both digital coins have managed to record impressive results as they have surged upwards by over 1000 percent in the last 12 – 14 months. It is due to this one fact that is making it hard for investors to make up their minds in choosing between these two promising virtual currencies.

Concerning price value, both digital coins, Ripple’s XRP and NEM are attractive as they are both still affordable. For an investor wishing to invest in either of them, my take would be to diversify between two, to position yourself at a vantage point of benefiting from both of them.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Michał Parzuchowski via Unsplash

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Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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