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Ripple’s XRP fully arrives at Bitrue, and it does with a bang

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XRP is the cryptocurrency created by Ripple Labs. It was already pre-mined when it went live, and it’s been a coin with a purpose since the beginning. The point in XRP is for it to become the mediating currency that will allow the world’s financial system to leave the old SWIFT system behind and to settle all international payments using Ripple’s blockchain technology.

Ripple has been looking to achieve that goal with a laser-like focus for years now, and they’ve scored some critical successes. That has implications. XRP was not originally meant to be the kind of cryptocurrency you and I can use, like, say Bitcoin.

It’s not supposed to be a way to store value or to make retail payments. Banks are the ones who should be buying it so they can send USD from the USA to Germany and where they can easily, safely and quickly, be collected as Euros, just to give you a very simple example.

Well, that’s changing. Ripple’s leadership has realized that diversifying XRP’s appeal can only drive the token’s price up, by creating new demand, and they’ve been looking for new strategic partnerships outside banks, remittance services, and financial institutions.

Among those developments is a debit card (a physical plastic card) that allows you to use your XRP currency to pay for goods as services just as easily as if it was your local fiat currency stored in your savings account. So Ripple is reading the writing in the wall and moving forward. That’s why today’s news is so important.

And the news is this: Bitrue, a crypto exchange, and trade system just announced it’s adopting XRP in all their platforms but not just as any other coin but as a trading pair. What does this mean?

Well, if you’ve done any trade in crypto you probably already know that you can’t just buy any coin you want out of the box.

You need to buy some Bitcoins (or some other of the handful of coins that are available in that way) then bring your coins to your exchange of choice, and then you trade your BTC for the cryptocurrency you actually want.

If you’d like to get into Cardano’s or Tron’s action right now, that’s what you would need to do. The critical fact about this new announcement is that XRP is going to be one of those few, selected, currencies you can now use at Bitrue so you can get ahold of other currencies.

This is huge news because this kind of pairing is very influential in the crypto market. For instance, most trades are done with Bitcoin as a trading pair. Which means that Bitcoin’s volatility and the high price can affect negatively (or positively) the tokens of many other projects in which there is not a problem in the token particularly but the financial mechanism you must use to buy it.

Bitrue’s new move is going to make XRP one of those coins which make the market run, which is an excellent step for Ripple, and XRP holders. There is further relevance in that Bitrue’s platform is available for all mobile devices.

The preferred currency pairings are XRP/BTC, XRP/ETH, XRP/USDT, ETC/XRP, ETH/XRP, GTO/XRP, KNC/XRP, LINK/XRP, LTC/XRP, QKC/XRP, WAN/XRP, WTC/XRP ZRX/XRP. We would like to see further pairings with Tron, Cardano, EOS, Stellar, Electroneum, and many others, but this is only the starting point.

XRP is slowly but surely becoming one of the big boys. Keep an eye out for it!

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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 Jill111/Pixabay

Featured news

Can Sharding Fix the Limitations of Blockchain or is the Network Doomed?

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Performance and scalability issues have bottlenecked the future development and real-life application of popular mainchains, such as Bitcoin and Ethereum. Many methods have been employed to solve this problem, but all of them have their own pros and cons.

The Impossible Trinity – safety, decentralization and scalability, coined by the blockchain world, bars the way to the future and the industry has fought hard to figure out an optimized solution. Sharding, proposed by Ethereum, has been viewed as one such candidate.

What is sharding?

Sharding technology splits a network into smaller partitions called shards, which contain an independent state and transaction history. The idea behind this is to divide a huge amount of workload into smaller pieces to make life easier for every participating node.

If sharding were to be adopted, each node will only need to keep a part of the network’s information, instead of downloading the whole ledger, which can lead to a large data file. Subsets of nodes grouped into one shard will only process transactions specific to that shard. By doing this, the network will be able to process many transactions in parallel, and the performance will continue to increase with more nodes joining in, thus making the network highly scalable.

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Altcoins

Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

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Encrypgen
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Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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