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Ripple bags more partnerships creates confusion in XRP price

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Over the past few months, Ripple (the company) has been on a mission to distinguish itself from Ripple XRP (the cryptocurrency). Most people believe that they are both one and the same thing but most people are wrong. It’s easy to confuse the two, right? After all, isn’t ripple the largest owner of XRPs and didn’t they create the Ripple XRP to start with? Well, it can get a little confusing but Ripple wants to make it clear once and for all.

Creating a Symbol for XRP

As a result of the confusion around Ripple and XRP, an initiative is currently ongoing to come up with a symbol for XRP. The aim, obviously, is to keep it clean, simple, and minimalist but utterly different from Ripple.  In fact, a community-driven initiative has been started that will see the submission of logos from the community with voting set to begin next week.

With Ripple holding a larger amount of the XRP than any other entity, it has become a public assumption that the XRP represents security for Ripple the company. There has been also some class action lawsuits directed at Ripple in this regard. However, semantics aside, XRP (as an open source ledger) has proven to be quite useful especially for third-party developers.

In fact, some crypto enthusiasts believe that the XRP can perform much better if it successfully separates its identity from Ripple the Company. The reason is simple. As an age-old tradition, most cryptocurrency traders and investors prefer decentralized platform than centralization ones.  And by the look of it, Ripple XRP is one of the most centralized platforms there is as all the nodes on the XRP’s network are controlled by Ripple the company.

How Partnerships with Ripple do not affect XRP

In fact, developments on the Ripple net have almost always been expected to result in a spike in the price of XRP by most XRP holders. To their disappointment, XRP has remained as volatile as the rest of the coins on the market even with numerous partnerships with more than 100 banks and payment platforms across the globe,

For instance, a recent report indicating Ripple’s partnership with two more payment providers in South America and Asia will see InstaRem and Sao Paulo join the RippleNet bandwagon. The two firms will take advantage of Ripple’s xVia which is one of Ripple’s latest projects. xVia allows companies and payment providers such as the Brazil-based Sao Paulo and Singapore based InstaRem to send money through banks without any initial software installation. Xvia and the partnership with RippleNet will in no way involve the use of Ripple XRP as most XRP holders would expect.

The distinction between XRP and Ripple

Basically, even though Ripple (the company) created and holds most XRP, the company also has 3 other Blockchain related products that are completely unrelated to XRP the cryptocurrency. There is the xCurrency which is a flagship product that enables banks to efficiently move money across borders without using the XRP cryptocurrency. The product is loved by the banks as it is an efficient product that saves them money. Next is the xRapid product which is the only Ripple product that uses XRP to improve liquidity while trading in emerging markets across borders. Finally is the brand new xVia product that is similar to xCurrent in that it enables payment providers apart from banks, move money efficiently at affordable costs.

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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

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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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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