The problem with modern day digital media is that it is very easy for a small story to be blown out of proportion. There is also the tendency of taking one serious issue and hammering it down the minds of the audience to the point where they are afraid to think otherwise. Take the case of XRP (XRP). Ask any crypto-trader or enthusiast out there why they have not bought XRP and they will tell you that the SEC has not made a decision on whether or not it is a security. They will also quote Coinbase in saying that XRP is not decentralized enough as prescribed by the Digital Asset Framework at the exchange. There is also the issue of pending lawsuits against Ripple.
But what they forget, is that XRP is making inroads in the countries of India as well as Japan. There is also an untapped market in Africa that is known to embrace micropayment platforms such as MPesa (Mobile Money transfer). This means that XRP can dive in and catapult itself to the stratosphere of mobile payments in Africa.
From the point of view of a global citizen, the decision by the SEC and that of Coinbase not listing XRP are inconsequential to the expansion of the digital asset across the globe and its potential in solving real-life problems.
Take the case of India. Ripple opened a new office in Mumbai and is planning more banking partnerships despite the ongoing RBI ban. There is also the question of the Indian government favoring digital transactions over paper money to curtail corruption. What better way to do that than by using XRP. As a matter of fact, XRP is widely available in the two local exchanges of Zebpay and Unodax. The digital asset is a base pair on both exchanges.
Moving over to Japan, the SBI Holdings firm has been bosom buddies with Ripple since 2016. The SBI Holdings company has even launched the SBI Virtual Currencies exchange (VCTRADE) that has XRP written all over it. There is also the remittance wing of SBI Holdings known as SBI Remit that is powered once again by xCurrent.
The topic of xCurrent brings us to the Santander Bank in Europe and its OnePayFX mobile App that allows for the ease of transfer of funds from within Europe as well as South America. There is also the ability to send between the two said continents with plans for continual expansion.
In conclusion, global adoption of Ripple banking products and XRP will be the major factor in determining the future of the two entities. The United States has proved to be somewhat hostile to both Ripple and XRP despite the fact that both were created in the US. Perhaps what might happen, and in the words of Bob Marley, is that ‘The Stone that the builder refuses, will always be the head cornerstone’. Ripple and XRP will continue to prosper outside the United States.
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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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
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