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Reasons why this might be the year for Ripple (XRP)

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Ripple XRP 2018
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Ripple (XRP) has been characterized as being a cryptocurrency that is in the spotlight constantly. It has slowly become a very important coin because of its technology and astonishing features, and to say the least, this could definitely be the year for the crypto to hit never before seen performances.

As of today, the token is ranked as the number 3 by Coinmarketcap, with a value per coin of $0.55, and a total market capitalization of $21,908,093,615. The cryptocurrency has managed to deploy the most solid partnerships in the industry, being at the moment the only platform based on the blockchain being adopted by bank entities around the world.

Understandably, the expectations are certainly very positive around the likely results for the token. Here in this post, I’ll try to mention the most notable ones and the reasons why I believe Ripple (XRP) will conquer the world this year!

The answer to major problems of the financial industry

If there’s something to highlight about Ripple (XRP) that differentiates the coin from the rest of the cryptocurrencies is the solutions it offers regarding two of the main issues in the financial industry, the speed in transactions, and the fees charged per operation.

In this matter, Ripple has shown a very solid platform offering operations that last 3.3 seconds only (the time Ripple needs to complete a transaction, usually), and one of the lowest fees per transaction in the market ($0.0004 per operation).

Current listings of the coin

Ripple has managed to appear listed in several exchanges in the industry. In fact, it was recently added to the UK-based banking application Revolut. The same way, another UK-based LMAX Exchange recently listed the coin, a fact that increases, even more, the possibilities of Ripple to attract institutional investors, which is the target of the trading platform.

Additionally, the awaited and long-promoted SBI Virtual Currencies exchange, has decided to support the crypto, and if all goes as the CEO of SBI Holdings, Yashitaka Kitao forecasted, then it definitely represents a huge opportunity for the coin.

xRapid experiments

xRapid is the incredible solution Ripple has developed to treat liquidity issues in the industry. This cutting-edge product has been tested recently, showing astonishing results with respect to the reduction of costs and times in transactions.

This way, Ripple found a reduction from 40% to 70% in the cost of a transaction by just eliminating the middleman figure, and in addition, the previous time it took to transact (1-2 days), was reduced to 2-3 minutes.

Current and potential partnerships

The Islamic giant of the banking Kuwait Finance House announced a partnership with the Ripple (they will be using the platform’s RippleNet) just a couple of days ago on its Twitter account. The message on social network established:

This strategic alliance can definitely shoot Ripple (XRP) to the moon, as it represents a huge milestone being the first time the blockchain-based platform that is used in the region.

Furthermore, rumors have grown regarding the possibilities of Amazon adding Ripple (XRP) as a payment method to its platform very soon. Although none of this has been confirmed yet, we believe it is a possibility that may open the horizons for the coin even further.

So, Ripple’s ability to solve real problems of the financial sector, current listings, xRapid and strong partnerships, it all backs up the fact pretty well that 2018 could be the year for it. And yes, we are approaching the middle already, but the coin hasn’t done that bad so far either, and there still is time left for it to ‘dent’ the market positively.

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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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Altcoins

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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SonicX
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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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