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

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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

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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