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

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Ripple XRP

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

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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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