On October 30th (just a couple of days ago), Lykke announced two listing pairs BTC and USD for Ripple (XRP). The exchange said their decision to add XRP is based on the fact that it’s one among the most requested and traded coins.
Lykke is a crypto exchange and blockchain project that aims to offer a platform which anybody in the world can use to exchange virtual currencies without needing to pay any fees. It emphasizes user-friendliness.
While this is not a platform that is very often on the limelight (which is not a bad thing when you consider how often that happens because of scandals) it’s still one of the most respected in the world and, reviews about it are usually very favorable and is generally considered to be trustworthy.
This new entry to the relatively long list of XRP exchanges uses a distributed ledger technology, based on Bitcoin’s blockchain. Or, at least, that how it started. Nowadays it’s also using Ethereum’s blockchain. You can access Lykke’s services very easily because even a mobile phone can do the trick. All you need to get started is to download and install a wallet. Execution of operations is guaranteed, settlements are instantaneous.
Lykke has offices in three different countries in the world: Switzerland, England, and Vanuatu.
The exchange even issues its very own cryptocurrency called LKK. The coin is backed up by the company’s value as every token is worth 1/100 share in the company (yeah, this means this coin is a security which has been a controversial issue for the cryptosphere in the recent months). Unlike Ripple’s XRP, the LKK coin is maybe not a star in the crypto sky, but the exchange is, indeed, among the most respected ones in the world.
Lykke’s services are available the world over, except in the USA, Australia, Canada, and Japan.
Swiss-based Lykke Exchange has listed $XRP today!
XRP is one of the most traded & requested by our community coins.
Now it's available on LykkeX with 0% trading fee in pairs with BTC & USD: https://t.co/EC2vqETwls
— Lykke (@lykke) October 30, 2018
So, just a couple of days ago, the company announced that Ripple’s XRP currency is available on the platform. This is different from other XRP offerings because investors interested in Ripple’s coin will be able to buy XRP directly instead of trading it for Bitcoins or ETH wich, so far has been the rule in most exchanges in the world.
Ripple and XRP are not the same things. Ripple is a private company that produces blockchain technology aimed at settling international payments with the least possible amount of friction. XRP is the cryptocurrency created by Ripple to achieve that goal. This is an important distinction because, in the cryptoverse, you’ll often find that the coin is referred to as “Ripple” when it should be “XRP,” and this causes confusion.
Coming back to the point, this is an essential step for both Lykke and XRP. Lykke will be able to capitalize the interest that XRP has been gathering recently (one of the very few coins that have been rising in price over the last month).
Ripple, on the other hand, will be able to expand its horizons. XRP was never meant to be a retail coin for enthusiasts (like Bitcoin, or most other assets are) but a cryptocurrency that banks could use to do their job. That game is changing as Lykke, and other exchanges are turning it into a cryptocurrency you can buy directly, without using Bitcoins first, and that you can hold.
Ripple’s XRP has been growing steadily in value, and it’s now challenging Ethereum for the second place in the cryptocurrency capitalization market. They’ve been reporting amazing news recently. There’s even a plastic debit card based on XRP you can use in the street to pay for your cigarettes (ok, you don’t smoke… let’s call it beer).
Lykke is moving forward. And XRP is helping it along.
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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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