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

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NEM Ripple XRP

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.

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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.

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

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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Altcoins

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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