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Ripple (XRP) gradually cannibalizing Bitcoin’s (BTC) profitable real-world value

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By now everybody even with little knowledge about cryptocurrency knows that Bitcoin (BTC) is the supreme leader of virtual currencies in the crypto market. There is no argument that Bitcoin has a tight hold on the emerging virtual currency market and this is mainly because most crypto exchanges around the world use BTC as their preferred base currency.

At present, being listed as the base currency for these exchanges is Bitcoin’s greatest utility value, thanks to the emergence of Altcoins who have outpaced all almost all other Bitcoin attributes.

In the current time, most of the altcoins in existence are more efficient, way more usable, and cheaper than Bitcoin (BTC) making them preferable for our day to day use. Although fiat pairings are slowly venturing into Bitcoin’s space as a base currency, Ripple (XRP) is working without tire doing the same but on an exponential pace.

As of now, many leading exchanges in the market have come out clear about either their intention of incorporating Ripple (XRP) or are already using it as a base currency. One of such exchanges is one of the significant exchanges in India, Unocoin, who recently announced through their Twitter page that they were going to be incorporating Ripple as their base currency.

Another vital exchange that is leaning towards the adoption of Ripple (XRP) as their base currency is DCEX. DCEX recently announced that they were introducing XRP as their base currency with the intention of trading with it against other 15 virtual currencies.

Subsequently, SBI Japan, one of the most respected and relevant financial institution in Japan, decided to adopt Ripple (XRP) as a base pair currency is a game changer for the fortunes of the digital currency and blockchain technology.

SBI Japan has opened up huge investments amounting to billions of dollars of Ripple for trading, promising to have a massive influence on Ripple’s price value in future.

What Makes Ripple Different?

Ripple stands out from other virtual currencies as it has much and something different to offer, it sells its services to financial institutions and banks, assisting them to transfer cross-border settlements in a faster, cheaper, and secure way than other platforms. Ripple Labs’ two services namely, xRapid and xCurrent are a game changer in the financial industry.

The digital coin used by xRapid is XRP which distinguishes the company and the cryptocurrency. Many refer to the company and the crypto as Ripple, something that is not correct. XRP is to Ripple what Ethereum is to the Ethereum blockchain. During the inception of Ripple’s blockchain, XRP was never intended to be used as a public currency but rather as a settlement token for financial institutions.

Ripple Vs. Bitcoin

Ripple (XRP) has undoubtedly gained a lot of respect and ground in the financial industry getting listed and adopted by many organizations indicating XRP’s potential of becoming a valued commodity in its own right. The market in the last year had seen the increase in the value of Ripple outperform other virtual currencies including Bitcoin.

Given the fact that Ripple (XRP) is mostly monitored and administered by a central body, it is quite evident that it is more secure than most virtual currencies especially those that are mined.

Cryptocurrency is still a maturing marketplace, and we can expect to witness a lot of changes and innovations in the coming months and years.

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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.

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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