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

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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.

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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

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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