Connect with us

Blogs

Top reasons to make Ripple (XRP) your favorite crypto player in 2018

Published

on

Ripple xrp favorite crypto 2018
READ LATER - DOWNLOAD THIS POST AS PDF

There have been two big problems about XRP (Ripple’s cryptocurrency) since it first appeared on the market. First of all is that the company, the blockchain technology, and the coin are not the same thing at all so the corporation exerts a huge influence on the coin’s use and performance. The other one is decentralization has not been applied correctly.

The first situation is that XRP is heavily influenced by Ripple. But if Ripple disappeared overnight, the coin could just keep going because of users. That being said, Ripple owns a huge reserve. Fifty-five billion tokens are held in escrow which should be released into the market over the next four years. This is possible because the XRP tokens were mined by Ripple before the cryptocurrency went live, and it gives Ripple a handle over the coin’s performance which is very rare in the crypto market.

About the other issue, let’s remember that crypto coins work because users make agreements and those agreements keep the blockchain safe and reliable. To put it simply: users agree on how many tokens go out from wallet and into the other one.

Ripple and XRP: The essential things to know

XRP is indeed decentralized but Ripple is not

As stated before, Ripple remains the biggest XRP owner in the word. It also affects considerably the way in which it’s used. If you own enough crypto coins, then you can do whatever you want with them. Pay for goods, services, or start your own global currency exchange and transfer organization.

When it comes to XRP it’s always been Ripple, not users, who have directed the way it’s used. It was even able to pick and choose the particular kind of industry they want to adopt XRP. Ripple’s idea has always been to be a cryptocurrency for international transfers (as opposed to retail and everyday use) through banks, and global wiring services (think Western Union or MoneyGram). That’s who Ripple wants to work with, but this as also led to users demanding that Ripple makes an effort to expand XRP’s use into e-commerce.

XRP’s link with Ripple has its benefits

Ripple’s authority over XRP seems a bit despotic, but it’s not all bad news. Think of Ripple as a benevolent dictator of sorts. It made it possible for some of the world’s biggest banks to adopt XRP (even if only to pay transfer fees in some cases). That would have never happened organically, it was made possible because of Ripple’s influence. Think about Bitcoin. It remains the main cryptocurrency in the planet and, even so, it has not found its way into so many relevant firms in the world as XRP has.

Because of Ripple’s connections to global corporations and banks, XRP is in very relevant partnerships with such institutional mammoths as Walmart, Central Bank of Saudi Arabia, and Japan’s SBI, just to name a few.

Those partners are creating demand for XRP, generating stability (if slowly) and guaranteeing it’s future growth and adoption.

Ripple has created a position for itself and for XRP through exceptional marketing decisions and it’s now on the next level. Those decisions have gathered attention and prestige for both the company and the digital currency. It started by donating twenty-nine million dollars for public education on donorschoose.org. Then another twenty-five million in Blockchain Capital, an entrepreneurial incubator directed at facilitating blockchain new projects to get started.

BTC vs. XRP

Bitcoin is, of course, top on everything. Status, influence, name, you name it. Sheer inertia could be enough to keep it on top for a long time to come. It’s not very rare to find someone who, not being a cryptocurrency aficionado, thinks that Bitcoin is the only crypto coin in the world, that fact alone is quite eloquent. So Ripple doesn’t share Bitcoin’s celebrity status but that hasn’t stopped it from amazing achievements such as penetrating Wall Street and many banks around the world through strategically relevant partnerships.

Celebrity always comes at a price, we must say. Bitcoin may be the star but it’s also been at the center of most scandals, thefts, and scams that have plagued the news about alt-coins. So its popularity has not washed its reputation and it still makes people think of ambiguity, unpredictability, and confusion.

In contrast, XRP has been gaining stability, it’s supported by Ripple and it’s seen as a stylish and sophisticated cryptocurrency. It acts, looks, and feels professional so many companies that would never go for Bitcoin would go (and are going) for XRP.

XRP’s higher use

While the stock exchange and the crypto market are very different animals, for sure, they share some common traits. They’re essentially unpredictable and you can succeed in them only by sheer luck or an impeccable strategy. But XRP is just the thing to tame the beast.

It could replace the SWIFT system that banks have been used for decades and it will do that while making everything cheaper and faster for end users and banks alike. It’s already happening, as seventy-five of the world’s main banks are already doing their international transfers using Ripple tech.

Ripple and XRP (yes, both are two different things) have enough real-world pros, and it’s as safe as anything can be among crypto coins.

Just do your homework before you take a dive into XRP. Know that it’s not alone. Stellar Lumen is also going for the international transfer market and it’s supported by IBM so, it would be wise for you to hedge your bets.

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

Blogs

What Changes May the Crypto Space Experience in 2019

Published

on

crypto
READ LATER - DOWNLOAD THIS POST AS PDF

After the crypto hype of 2017, a lot of newly-arrived crypto enthusiasts were caught off-guard by the price crash and bear market that took over in 2018. One month after another, investors were waiting for things to change, and for another bull run to take place. Unfortunately, this did not happen in 2018, and while the year’s final days were seemingly stable, the rally everyone wanted to see has failed to arrive.

However, crypto investors remain optimistic, with many of them hoping to see some changes arrive in 2019. There are rather great expectations of this year, especially since the last one failed to deliver. However, many are interested in what exactly is to be expected in this year, which is what we will talk about today.

Bitcoin ETF approval

The US SEC’s decision regarding Bitcoin ETFs was one of the most anticipated events throughout 2018. Sadly, the decision constantly got delayed, and the SEC never actually provided an answer. The last delay has pushed the decision into 2019, and it is now expected to arrive on February 27.

Historically, the SEC was never ready to approve Bitcoin ETF, and many believe that the delays came due to the fact that the market was not ready for then in 2018. This is backed by the fact that the SEC rejected multiple application throughout the year. VanEck and SolidX…

Continue Reading

Blogs

Reasons Why 2019 May Be A Great Year For Crypto

Published

on

crypto
READ LATER - DOWNLOAD THIS POST AS PDF

The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.

The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.

With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.

1) Bearish market to loosen its grip

The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…

Continue Reading

Blogs

3 Coins with the Largest Potential in 2019

Published

on

coins
READ LATER - DOWNLOAD THIS POST AS PDF

2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.

Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.

  1. Bitcoin (BTC)

Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.

One thing that is expected is the approval of Bitcoin ETFs…

Continue Reading

Elite