Connect with us

Blogs

The Reason Why Coinbase Just Won’t Add Ripple (XRP) Any Time Soon

Published

on

Coinbase

Although Ripple has been doing well and even more than well these days as we have found out about an important partnership the team behind XRP has made, it seems that another news stole the light. Apparently, as we have all had a chance to find out, Coinbase and Gemini, which are some of the biggest exchange markets in the world of cryptocurrencies, are refusing to add Ripple. Given the fact that XRP is the third best currency according to the global coin report list, we were very much interested in finding out the reason behind this devastating refusal, so we dug a bit and scrapped the surface of this story to reveal the true motive behind the decision made by these exchange markets.

How Come Coinbase is Not Adding Ripple?

Coinbase stands for one of the biggest and thus most valuable exchange markets, just like Binance or Gemini. With a market capitalization of nearly 2 billion dollars, Coinbase enjoys the reputation of one of the largest exchanges. That is how Coinbase has set some standards and according to the Coinbase representative team, they are not planning on adding Ripple to their exchange anytime soon. The team behind the Gemini exchange shared the same statement.

Not being able to get listed on Coinbase for some time now (or Gemini for that matter), the XRP team even went as far as offering millions of dollars in order to buy its way onto the Gemini and Coinbase exchange. During that case, it was stated that offering financial incentives in return for a spot on an exchange market is perfectly legal and legit even outside the unregulated world of cryptocurrencies and blockchain operations, which means that Ripple had every right to offer money to Coinbase and Gemini although many crypto enthusiasts are greatly judging this move.

Both, Coinbase and Gemini, refused to take the financial incentives, also confirming that they were not planning on listing Ripple anytime soon.

Moreover, people are outraged for having Coinbase refusing to add XRP to its exchange mainly because this exchange market has already added all top coins listed on Binance, although Binance and Coinbase have only several currencies in common. Coinbase has listed Bitcoin, LiteCoin, Bitcoin Cash, Ethereum, and Ethereum Classic.

Bitcoin, LiteCoin, and Ethereum were originally added to the exchange almost immediately after Coinbase started with trading business, and later on, Coinbase added Bitcoin’s and Ethereum’s forks: Ethereum Classic and Bitcoin Cash, considering that these two currencies are safe and secure more than enough.

So, Coinbase added Ethereum and Bitcoin, but missed on adding Ripple as the third-best cryptocurrency?

That is how everyone started to wonder: But, why?

The reason behind the refusal is far simpler than you might think as it seems that the answer to this controversy lies in the “rulebook” publically published by Coinbase. The rulebook is freely describing what it takes for a coin to get listed on their exchange.

What Ripple Should Know About Coinbase

In case of Ripple team would still want to get listed on Coinbase exchange, which would in many ways benefit this currency while increasing its visibility and attainability, here is what they should know about Coinbase and what it takes to get listed on this exchange.

Coinbase has announced a brief introduction to their exchange service, addressing all their customers while listing everything they consider to be crucial in order for a coin to get listed on their exchange.

On this occasion they have shared the framework for getting listed on their exchange, stating that they have a clear goal of becoming the most easy-to-use exchange platform while also enjoying the status of the most trusted exchange in the market.

At the end of their statement they have added that they are not planning on adding any new coins on their exchange at the moment, as well as that in case they were planning the opposite, they would release the news in the public by themselves. The bottom line is not to trust the rumors. The dark side of this point is that it seems that XRP is not getting listed on Coinbase anytime soon.

One of the most important factors for considering a coin for listing is to make sure that the coin is maximally safe and secure, while also being decentralized.

This is where Ripple meets a problem that prevents it from getting listed – XRP is not decentralized. In case you don’t remember, Ripple was often criticized by crypto enthusiasts for not being decentralized, which means that XRP, in a way, has a third party involved in different operations revolving around this currency, which is everything decentralization is against.

That is how it is thought that Ripple was refused precisely for this reason – for not being decentralized. And, given the fact that Coinbase is aiming to become the most trusted exchange, they wouldn’t be able to do so if they were to get Ripple listed despite XRP not matching Coinbase’ listed criteria.

How is Ripple doing at the Current Moment?

After partnering up with MoneyGram with the rumor that Ripple will be also partnering up with Wal-Mart as a consequence, it was expected that XRP will go up in no time reaching a value of 1$ per one unit.

However, XRP is still trading in the red. It seems that other currencies are dropping as well as the market is plummeting, so the recent losses aren’t as odd.

After the latest change in the market, Ripple has lost -4.21%, dropping against the dollar. On the other hand, it is trading up against BTC for 1.76%, which means that Bitcoin is also dropping.

After the initial drop, XRP is available at the price of 0.48$ per one unit, which is still far from its record price of over 3.80$.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

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 Maia Cybelle Carpenter via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

on

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.

NFTs are already being actively traded in markets globally. For…

Continue Reading

Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

Published

on

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…

Continue Reading

Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

Published

on

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 been…

Continue Reading

Press Release