Connect with us

Blogs

Three reasons why this is the time for buying dip on Ripple (XRP)

Published

on

Ripple XRP
READ LATER - DOWNLOAD THIS POST AS PDF

Ripple and XRP are not your run-of-the-mill blockchain project. It’s a project that doesn’t aim to be just a cryptocurrency (the way, say, Bitcoin does). It has the particular purpose of being used to solve one single problem better than anybody else in the world: to make international payments and remittances safe, quick and cheap.

That’s a very ambitious goal and can naturally be achieved only in the long run but Ripple Labs has applied itself wholeheartedly to it, and it’s made fantastic amounts of progress.

Because partnerships build confidence and long-term viability

Ripple’s platforms (xRapid and xCurrent) are already being used by some of the world’s most important banks and financial institutions. They are finding that costs go down while reliability and speed increase in dramatic ways. Institutions save money, and their clients are happier.

In other words, Ripple is managing to persuade many of the industry’s leading players in that they have a product which is really useful and worth adopting. Just think about who is already using Ripple: The Bank of England, The Royal Bank of Scotland, MoneyGram, Santander, BBVA, American Express, SBI Holdings. It reads like the who’s who list in global finances.

These partnerships will inspire confidence in smart investors who understand the value of going for the long term. Bearish and bullish periods come and go, but a product that has a real competitive advantage by solving a significant problem better than the current options, or than the competition, will always do great.

The crypto market hasn’t realized the massive potential behind Ripple and XRP yet, so it remains unvalued. That’s one reason to buy now.

Because it might get listed by CoinBase soon

Yes, XRP experienced an epic drop earlier this year (from USD 3.80 in January to USD 0.44 at the time I write this) for sure. But it remains the third cryptocurrency in the world by market capitalization and one of the most popular trading coins in the world.

Why would Coinbase keep missing out on transaction fees and let XRP to their competitors? Let’s remember that Coinbase is about to go public so they need to do anything and everything that could enhance value for shareholders. There’s been a rumor going around that, in that spirit, the company is saving the XRP listing announcement for a moment in which it could have the maximal impact to its IPO.

Call it a rumor, a wish, speculation. The fact remains that Coinbase cannot continue to be without the world’s third most popular digital asset and stay relevant at the same time. It’s been expected for too long already (so much that it’s become a “cry wolf” thing and investors are sick and tired of hearing that rumor already) but it’s also inevitable.

Coinbase will include XRP sooner or later, and that will enhance both companies positions in their respective markets.

Because it will appreciate when the market goes bullish

When 2018 arrived, last January, the bullish run in the crypto market was just spectacular. Bitcoin went all the way up to USD 8800, and every single coin experienced a rise in price. XRP reached USD 3.80. Then, the rest of the year has happened which has been just a series of bearish trends, with periodic adjustments along the way. So while it would be fair to point out that XRP has gone down, the fact remains that this hasn’t been XRP’s problem but the general trend for each and every digital asset.

But are bearish runs such bad news? It’s buying low and selling high how you make a profit, so the current low is also the opportunity to buy undervalued cryptocurrencies ‘en masse’ and then see how they grow when the next, utterly unavoidable, bullish run comes. When it arrives, the best bets will be among the current top ten coins, and Ripple (XRP) is third.

The market is healing from a collapse, and so is XRP. But it will recover soon, and you could be there to make a killing.

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 Maxpixel.net

Blogs

Blockchain-Focused ETF Arrives on London Stock Exchange

Published

on

blockchain-focused ETFs
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

Continue Reading

Blogs

Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

Published

on

Jeff Bezos
READ LATER - DOWNLOAD THIS POST AS PDF

Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

Continue Reading

Blogs

Three Biggest Things To Know Come Cryptocurrency Tax Season

Published

on

cryptocurrency tax
READ LATER - DOWNLOAD THIS POST AS PDF

In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

Continue Reading

Elite