Connect with us

Blogs

NEM (NEM) vs Ripple (XRP): Which crypto you should invest in?

Published

on

NEM Ripple XRP
READ LATER - DOWNLOAD THIS POST AS PDF

In recent past, both NEM and Ripple have been gaining a lot of popularity, and as a result, somehow confusing potential investors as to which is the best cryptocurrency of the two they should invest their money in. In this article, we will try and dig deeper into the lives of these digital currencies to conclude which one you should buy.

NEM

NEM is quickly emerging as the preferred virtual currency that provides businesses and individuals new information and data security functionalities. Some crypto analysts describe it as the new kid on the block of cryptos, taunting it to be better than most currencies regarding technological features and advancements.

Unlike Bitcoin which is known for storing information of its investors, NEM allows users and businesses to store data and information securely.

The main benefit of this digital coin is that it allows any file or any information to be secured on your PC. What this means is that you have the privileges of storing your data and information protecting it from any tampering or changes in the file structure.

NEM is different from other existing coins that were developed using codebases as it uses a new set of codes that are not present in the other selected currencies. Although not being as old as most digital currencies, NEM is showing a lot of potentials and impressing many investors.

Ripple (XRP)

On the other hand, Ripple (XRP) is also a different currency that provides a protocol for most financial institutions to transfer their money across borders. Individual investors are also able to move money using Ripple to anywhere around the world.

One of the significant advantages of Ripple is that transactions are done and completed at near instant speeds. Moreover, the transaction costs are far lower compared to other virtual currencies.

More and more financial institutions are warming up to Ripple and using their network to initiate international payments. Currently, the cost of transferring money internationally without utilizing the Ripple protocol is significantly high. But thanks to the Ripple blockchain technology, the prices have been substantially reduced, in turn increasing XRP’s value significantly.

Ripple has a broad partnership portfolio with influential industry players and unlike Bitcoin is, it has a faster method of reaching consensus. Some of the big brands XRP has partnered with include the likes of Bank of America, UBS, Santander, and BMO.

The Brief Comparison

In the last 14 months or so, both digital coins have shown tremendous progress by appreciating by over 1000% in value. This is one of the reasons behind the confusion investors are having in choosing between them.

Ripple’s price is attractive as it is still affordable. Also, XRP is offering banks with enough liquidity to match their needs with almost ten trillion of float in nostro and vostro accounts. Many analysts argue that it is an inefficient model believing the platform is the future due to its design nature to capitalize on the liquidity need.

On which one is the best currency to invest in, it’s going to be a good idea to diversify between them to position yourself to reap from the rich dividends from both of the coins. But yes, in case, I’d need to favor only one out of the two in question, I would go with Ripple as things stand currently.

For the latest cryptocurrency news, join our Telegram!

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

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

Published

on

Aluna.Social
READ LATER - DOWNLOAD THIS POST AS PDF

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

Continue Reading

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

Continue Reading

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

Continue Reading

eToro