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African digital assets exchange Quidax adopts Ripple xRapid

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Ripple

Quidax has partnered up with Ripple, and it’s positioned to start using the blockchain firm’s xRapid product (the only product of the company that uses XRP) to revolutionize money transfers and settlements.

Not too long ago, Quidax, a European based virtual asset exchange, launched its services in Nigeria in an attempt to spread its wings to the African continent. Their story dates back to 2016 when their architects came together to develop a platform with the intention to leave a dent in the financial sector. Their primary purpose is to open the doors of opportunity to as many individuals as possible who are interested in making money and in wealth creation.

The second Ripple partner in Africa (first was Flutterwave who embraced the Ripple blockchain not too long ago), Quidax is being hosted by a trading platform which will allow their users to buy and sell digital assets using their secure, simple, and seamless user interface. Once it gets launched, Quidax will facilitate their users with the capability to buy and sell six virtual currencies with the promise to expand to over 20 cryptos in the next three months.

According to the CEO of Quidax Africa, Buchi Okoro, who happens to be Nigerian, the platform has the potential to break the existing financial barriers that will, in turn, allow Nigerian residents to have more opportunities to create wealth for themselves. He disclosed:

“Having thought about the problems that are bedeviling the current financial landscape in a global level, our mission as Quidax is to challenge the status quo by pushing humanity forward. As an exchange, our goal is to break down financial barriers that are barring our people from accessing wealth creation opportunities” 

By looking at the sheer number of alternatives available to their users, we can undoubtedly conclude that Quidax is the substantial exchange platform functioning in Africa. The digital tokens included in the exchange (as of now) include Bitcoin Cash, Bitcoin Gold, Ripple’s XRP, Bitcoin, and Litecoin.

One of the things that make Quidax stand out is its ability to take away the hustle of running between minimized mobile applications while transacting. It also offers a wide range of virtual assets to buy and sell. The all-inclusive benefit of Quidax has spark interest among many crypto enthusiasts in Africa contributing to the massive trade sign-ups being experienced on their platform.

Currently, the crypto exchange company is at an advanced level of its preparations to kickstart its cryptocurrency and blockchain education to increase the level of literacy in Nigeria and the African continent at large. The cryptocurrency literacy endeavor is needed on the African continent now more than ever.

Apart from offering Nigerians more information concerning cryptocurrencies and blockchain technology, Quidax will also be facilitating citizens of the West African with a platform to trade virtual currencies. To achieve this, the company is looking into partnering with key individuals who are instrumental in the Abuja Blockchain and Artificial Intelligence Roundtable event.  CEO Okoro added,

“As a cryptocurrency trade platform, Quidax is open to collaboration with other players in our quest to achieve our vision and mission of enlightening Nigerians and Africans on this emerging technology.” 

Ripple (XRP) Price Analysis After Partnership with Quidax

Ripple’s new innovative product for making payments, xRapid, is already facilitating businesses and financial institutions with capabilities of transacting with one another seamlessly without friction. And early this morning, the world woke up to the news that XRP/USD broke free from Monday’s low of 0.4452 US dollars through the bearish sentiments that are still strong.

Despite all the top cryptocurrencies being in the red currently, Ripple’s XRP price is up by 0.78% and stands at $0.445 taking the recent 24-hours of trading into account, with its current market value standing at slightly below 18 billion US dollars.

It is expected that XRP prices might surge upwards as the news of Ripple partnering with Quidax continues to gain momentum (remember they are going to use xRapid, the product that uses XRP), especially in Africa.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

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 Pixabay

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Elon Musk Advises Crypto Users To Secure Their Crypto Keys Properly

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The crypto community has not gotten over the fact that the world’s richest man has now invested in Bitcoin and has been pretty active in the industry.

However, the community is now receiving security tips for storing cryptocurrencies from Tesla’s chief executive officer. While pointing the security of cryptocurrencies, Tesla also criticized Freewallet app, a crypto wallet for its slack in security.

He also added that crypto investors should not bother doing business with wallets that don’t provide them with private keys.

Users should store their private keys

The unique way cryptocurrencies are stored makes them not redeemable when the keys are lost. Whether the holder stores them with third-party custodians or exchanges, the owner can only claim them when they provide keys to the crypto funds.

That makes securing the keys the most important thing when dealing with cryptocurrencies. As a result, selecting the safest hot or cold wallet is a priority if users want to keep their crypto investments safe.

Elon Musk has come out to advise investors to always store their private keys personally. For a company to receive the attention of the world’s richest man is something to take advantage of to grow. However, FreewalletApp’s short conversation with Musk is a sort of negative publicity to them.

After the company engaged with Musk about a Dogecoin-related post, the Tesla founder pointed out faults with the firm.
He advised digital asset investors to stay…

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Partnership Between Bridge Mutual & AllianceBlock Announced

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Decentralized peer-to-peer discretionary digital asset coverage platform Bridge Mutual has announced a partnership with AllianceBlock. AllianceBlock is a decentralized, blockchain-agnostic layer 2 protocol bridging decentralized finance with traditional finance. The partnership will allow AllianceBlock and Bridge Mutual to provide traditional investors with a protected bridge to DeFi through decentralized coverage. 

“Discretionary coverage is a very important part of our ecosystem, so we are excited to partner with Bridge Mutual and leverage each other’s technologies,” says Rachid Ajaja, CEO of AllianceBlock. “We look forward to building an ecosystem where all participants have access to the best products while mitigating the ever-present risk of smart contract failure, hacks, and the resultant loss of collateral value.”

In 2020, as much as $200 million worth of digital assets was lost in attacks on major digital asset services. Bridge Mutual’s platform gives users the option to purchase and provide discretionary coverage, reducing investors’ risk of losing funds because of theft, exchange hacks, stablecoin price crashes, exploited contracts, and other vulnerabilities in digital assets. 

By using Alliance Block’s multi-pair liquidity mining platform, Bridge Mutual will be able to offer BMI token holders instant liquidity through staking and high APY rewards for a variety of pairs. Once integrated into AllianceBlock’s P2P lending platform, Bridge mutual will be able to provide coverage to investors. Additionally, Bridge Mutual is working towards…

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