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Ripple’s XRP: You should expect the big bull to visit shortly

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The last couple of weeks have not been exactly great for the cryptocurrency market. Bitcoin alone lost more than a thousand dollars in value, so the outlook looks bearish. But things are happening that can bring up the market again, and Ripple is involved in them.

Ripple has secured two new partnerships with new financial institutions that will adopt their xRapid platform and the XRP digital currency to do international transactions. This is going to increase Rippel’s XRP demand for sure and improve its performance even as the rest of the market is slow.

Currencies Direct is the first new partner. It is based in the United Kingdom, and it does currency exchange which is right up Rippel’s alley. They just did a full test using xRapid to transfer money over international borders, and it worked fine for them.

Several other financial institutions are testing Ripple’s blockchain technology, and 75 of the world’s biggest banks are already using it for business on a daily basis. The tests have been nothing short of spectacular, like the one done a few weeks ago at the Consensus 2018 conference.

Ripple saves the bank (and the bank’s client) from 40 to 70% in transaction costs and fees but, most importantly, it saves them incredible amounts of time. Every Ripple transaction takes about two minutes to complete (while the traditional way, using the SWIFT system usually takes from two to four days).

Mr. Brian Harris, Chief Product Officer at Currencies Direct, expressed himself this way about the tests:

He then added,

The Kuwait Finance House (KFH) also joined the Ripplenet last week; they are the first bank in the country to adopt Ripplenet. And they seem to be just as happy to have joined Ripple. 

KFH hailed Ripple as the future in international money transfers that make things quickly and, above all it makes Humanitarian work easier and more plausible.

So these two crucial banks are going for Ripple, and this is enough to think that both the Ripple’s coin and the project will be doing well. If you are still not convinced that a massive Ripple XRP bull run might be on its way, let me share another great news with you.

The long-awaited SBI Virtual Currency, a Japan-based exchange, has put Ripple (XRP) onto their website, only Ripple (XRP). Of course, the trading platform will more likely add other cryptocurrencies soon too, but no other cryptos are mentioned as of now. That is a definite hint of their intentions to make Ripple (XRP) the primary cryptocurrency exchange will list.

Ripple’s capabilities persuaded Matthew Mellon (may he rest in peace) to invest two million dollars in the currency and the technology. His investment is now worth a billion, so he saw the writing and the wall, and he did the right thing. Maybe you should as well.

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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 James Frid via Pexels.com

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

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The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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