Blogs
Bitcoin, Ethereum (ETH) or Ripple (XRP): Which Cryptocurrency Will Benefit from the Policies of Donald Trump?
Fiat currencies are in turmoil across the globe, and as trade wars and the crushing blow of sanctions are hoisted on various nations by western powers, the alternative currency market may be attracting a number of world leaders looking to bypass the US dollar. For countries like Iran and North Korea, desperate to get their goods back on the market, it seems cryptocurrencies may become a viable way around the hegemony of the US dollar. And as the nations most affected by a growing series of brutal sanctions and draconian trade tariffs are forced into seeking alternatives, the enforcers of global policy would be missing a golden opportunity if they weren’t themselves already invested in the very currencies available to these ‘enemies’ of the free world.
Donald Trump himself has made a number of remarks regarding Bitcoin (BTC) and the coin market since taking office. While being careful not to take a hard stance for or against the trading of alternative currencies, it is clear that he is watching the markets with some interest. And as his global trade wars escalate, forcing the hand of partners and foes alike, it would stand to reason that Bitcoin will most likely be the coin of choice for rogue nations like Iran and North Korea.
Bitcoin (BTC) is still the undisputed king of the alternative currency market, although Ripple CEO believes it will come to an end. And with the power of name recognition alone, the less savvy players of the developing world may look immediately into the benefits of secure person-to-person transactions available through the world’s best-known cryptocurrency. The delayed transactions and hefty fees the original blockchain is known for can be easily over-looked as nations damaged by sanctions seek to push their products back onto the market.
And if smart contracts are necessary to facilitate the more intricate trading needs of nation-states, Ethereum (ETH) could provide the framework necessary for exchange to occur. While lesser known currencies are quickly developing the means to do Ethereum’s job with less friction, the number two token available to consumers is by far the more recognized currency for legal transactions tracked on the blockchain.
But Bitcoin (BTC) and Ethereum aren’t the only game in town these days. Ripple (XRP), currently fighting the Securities and Exchange Commission over a series of potential violations, has proven itself quite effective at cross-border transactions where the parties involved may not be holding the US dollar as a preferred medium of exchange. With over one hundred institutions experimenting with the token, it could easily fit the bill for countries looking to trade their goods without the worlds policemen watching too closely.
As the world reels from the sanctions placed on their countries by Trump and the US State Department, the nations most affected may look to the cryptocurrency market as a viable way to navigate around the barriers of US dollar hegemony. Whether with Bitcoin (BTC), Ethereum (ETH) or Ripple (XRP), the benefits of the alternative currency market will allow many nations to create unconventional trade deals, benefitting savvy investors, already hodling the chosen currencies in question.
With these facts in mind, it isn’t hard to imagine Donald Trump (and other members of US leadership) pushing nations further into cryptocurrency markets and driving prices to new highs.
For the latest cryptocurrency news, join our Telegram!
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 Pexels
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…
-
Blogs6 years agoBitcoin Cash (BCH) and Ripple (XRP) Headed to Expansion with Revolut
-
Blogs6 years agoAnother Bank Joins Ripple! The first ever bank in Oman to be a part of RippleNet
-
Blogs6 years agoStandard Chartered Plans on Extending the Use of Ripple (XRP) Network
-
Blogs6 years agoElectroneum (ETN) New Mining App Set For Mass Adoption
-
Don't Miss6 years agoRipple’s five new partnerships are mouthwatering
-
Blogs6 years agoEthereum Classic (ETC) Is Aiming To Align With Ethereum (ETH)
-
Blogs6 years agoCryptocurrency is paving new avenues for content creators to explore
-
Blogs6 years agoLitecoin (LTC) Becomes Compatible with Blocknet while Getting Listed on Gemini Exchange
