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Bank of America allegedly approaches Ripple for a possible partnership

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Ripple as a whole has been multifaceted right from the start, and this is because it is not really built for retail services, but to provide a means whereby financial institutions can have the possibility of making transactions easier and faster.

Due to the prospects behind Ripple, a more significant partnership (much better than the ones it had with systems like Banco Santander and American Express) has emerged and guess what? It involves the Bank of America.

The speculation arose after the Bank of America representatives met in closed doors with Ripple (XRP) people to discuss a possible partnership last week.

Before now, Banco Santander formed a partnership with Ripple. Santander announced that it would be using Ripple’s xCurrent to perform its global payments. Now, the Bank of America is allegedly following the suit in a bid to use its technology.

So far, some of the financial institutions that have recently partnered with Ripple include MUFG Bank, Siam Commercial Bank, WestPac, and SBI to name a few. Ripple seems to be a force to reckon with on global payments, and many other financial institutions are beginning to acknowledge its importance.

In the bid to make cross-border payments easier, faster, and cheaper, Ripple has three systems: xCurrent, xRapid, and xVia. However, xRapid, got launched not too long ago, and at the time it was launched, the price of XRP had a slight surge in its market value. Ever since the launch of xRapid, lots of financial institutions such as MoneyGram and Western Union have affirmed its credibility and commended Ripple’s technology.

It is important to note that xRapid is specially made for financial institutions that want to reduce the costs on liquidity. xRapid not only helps to reduce liquidity costs, but it also protects financial institutions from the obsolete hassles of cross-border payments.

It is possible that in the coming days, we may see another surge in the price of XRP following the announcement of the Ripple’s partnership with the Bank of America. Of course, if the news gets confirmed, it will be huge.

Although the actual commencement date for the everyday use of Ripple’s xRapid remains unclear, still it is evident that the Bank of America, Banco Santander, and others, are in line on how to make use of Ripple’s blockchain within their payment infrastructure.

They aren’t quite a number of digital assets that are offering what Ripple’s XRP does, even if they are, they do not have the solution to offer the best use-cases as Ripple.

In fact, even though some crypto-enthusiasts frown at Ripple once it’s mentioned, the digital asset – no doubt – has excellent prospects and use-cases. This is what the Bank of America is probably seeing and isn’t concerned about what the odds are. In that case, we should expect a lot to occur in the coming days.

XRP Price overview

Following the rumors of the partnership with the Bank of America, the price of Ripple’s XRP started moving steadily and is in the green (by a fraction) while other major cryptocurrencies are trading in red right now. At the time of writing the price of XRP stands at $0.5198 with a market capitalization of $20,902,329,639.

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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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Revealed: The Mental Skills Required to Be a Successful Trader

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The world of financial trading, be it investing in cryptocurrencies on the market or trading stocks, can be an unforgiving one. Only the very best are able to rise to the top and turn their trading regimen into a seven-figure income, meaning that total dedication to your craft is a prerequisite. Ask any successful trader, and they’ll tell you that having the right mindset is the key to success.

A clear mind with laser-sharp focus and serious endurance will be able to see the bigger picture, spot the most profitable trades, keep track of the market, reduce risk, and compete with the best of the Wall Street pros. In many ways, successful trading is a lot like being a successful poker player.

You need to be able to play the long game, make the most of your luck, and know exactly when to strike to become a high roller. All of these require a strong arsenal of mental skills. Here are the mental skills you need to build in order to become a successful trader.

Source: Pixabay 

Caption: Successful trading in the financial market requires mental strength, resilience, and endurance. 

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Why is Crypto Futures Trading So Easy Today?

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-One-on-one interview with CEO of BEX500

Bitcoin futures trading is the most efficient way to engage yourself in bitcoin market without having to acknowledge the ownership and storage responsibilities.

Some users say, crypto futures trading has never been easier with BEX500 exchange.

Can we trust BEX500 with our bitcoin? Today, we invited Anna Myshustina (Anna), CEO of BEX500 to dig more into that.

Q: hey, Anna, thank you for joining us. You were a successful trader in futures and options, what motivated your innovation in crypto industry?

Anna: My pleasure. I have been in derivatives for 8 years. As a trader, I found many crypto futures exchanges too complicated for beginners, but not efficient for the experienced.

So, we’d like to make a change. We are the first crypto exchange to introduce [ONE Account for Live & Demo]. You can login https://www.bex500.com and register for once and for all, and it will be for both live & demo trading.

While, traders in other competitors are still forced to login live and demo with 2 different accounts in 2 addresses for “live” and “testnet”.

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Cryptocurrency, Online Gambling, and Regulation: One of the Three Can’t Stay

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To say that cryptocurrency is disrupting the world of technology and finance is an understatement. Ever since they arrived on the scene in 2009, they’ve been geared toward forever changing the fintech landscape for good.

One of the main reasons the technology proved to be so revolutionary was blockchain — the backbone of most cryptocurrencies. Blockchain is the digital ledger that provides full transparency and immutability of data, all the while eschewing any kind of third-party authority meddling. These attributes can lend themselves quite handily in a whole series of industries.

But increasing regulation of cryptocurrency may lead to it no longer proving useful to particular niches. One of these endangered industries is online gambling, which could suffer tremendously from heavily regulated cryptos.

How Cryptocurrency Helps Online Gambling

Online gambling happens to be one of many that would (and does) benefit from integrating cryptocurrency. Gambling happens to be illegal in many countries, and the people there cannot access online gambling either, even though it specifically remains unaddressed by most legislation. They had no channels with which to finance casinos they wish to play in, seeing that banks or other financial services don’t want to interfere when there’s a chance of legal repercussions.

But cryptocurrency enabled casinos to accept players that had no alternative with which to engage…

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