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FUD to perish, Ripple’s XRP is an excellent long-term investment, here’s why
The crypto market has been conquered by three different coins for a considerable time now. In this sense, Bitcoin (BTC) claims to be the gold. Ethereum (ETH) for its part was proclaimed as the silver of the cryptosphere, which should be enough reasons for us to believe that Ripple’s XRP would be the bronze, as the token is the third largest cryptocurrency of the market after the cryptos mentioned above.
But, is XRP (XRP) really comparable to other cryptos in the market? Well, to give a response to this question we need to see a few details on the third-largest coin. Let’s check them out.
The uniqueness of Ripple
One of the most characteristic features of Ripple’s network is that each transaction that occurs on the system is certified by different nodes, which as a result, gives the distributed network a more resistant mechanism in case of potential risks.
However, what seems to be more shocking about Ripple is the division that the company has made in regards to its solutions, platforms, cryptocurrency and more. Like this XRP represents the virtual coin of the company, RTXP (Ripple payment protocol) represents the technology behind its operations, Ripple network represents the network that channels the technology and protocols, and finally, Ripple represents the company itself.
Furthermore, all investors can hold XRP without any restriction, and the Gateway that the platform uses acts as the credit intermediary between the two parties involved in the transaction.
Nevertheless, despite the outstanding differentiation between Ripple’s XRP and other top cryptos in the market, it just doesn’t seem like the sector is treating the cryptocurrency any differently, which means the value of the coin in spite of being constructed differently is suffering the same.
But, if the situation is the same for XRP, is it possible to believe that XRP would be a great type of investment in the long run? Well, we have reasons to believe this is a fact, and here I explain all the details (as much as I can briefly).
Why invest in XRP?
- Trading price: XRP is currently trading at a price of $0.28, and this represents almost a 90 percent decrease from its all-time high of $3.37. Besides, the crypto serves as a bridge to exchange different cryptocurrencies, and rumors of addition on Coinbase are every time more substantial, so every investor who would like to buy as an asset at a price below the $1 mark should consider XRP as the best option of the market.
- Banks adoption: It Is not a secret to anybody that concerning negotiation and partnerships, Ripple has deployed the most marvelous strategies, which have resulted in the approach of thousands of banking institutions from all across the globe. In fact, studies prove that more than 50 of the largest banks in the world are considering the adoption of Ripple’s XRP as a solution for their payment systems.
- Transactions speed: XRP is the token with the fastest transaction speed in the market, it only takes 3 seconds for the platform to deploy a transfer, and it actually has the capacity of executing 1,500 transactions per second, which compared to the $5 trillion transactions per day that its chief rival SWIFT can make, represents a tremendous advantage.
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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 Pixabay.com
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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