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xRapid: A Ripple (XRP) Payment Solution That Uses XRP, The Coin

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Ripple
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Over the past few months, there have been lots of debates by the Ripple Community on whether all three products of Ripple (XRP) use XRP, the coin. The products include xVia, xCurrent, and xRapid. Well, it is only logical to get at least one product out of the way and confirm that xRapid does indeed use XRP. This is after there was news of the release of pilot results of money remittances across the borders of the United States and Mexico using the same payment solution.

The results revealed that xRapid eliminates all delays in international payments and also reduces the transaction costs. By using XRP as an intermediary source of liquidity through the XRP ledger, that part of the transaction only takes 2 – 3 seconds as is expected of Ripple technologies. When you add the additional time taken to convert XRP through digital asset exchanges and local payment processes, the transaction only takes an additional 1 minute 58 seconds; bringing the total to 2 minutes.

This is revolutionary in the sense that it reduces a 2 to 3 day transaction to mere 2 minutes and also reduces the cost of the transaction by up to 40 – 70% as reported in the announcement. The financial institutions accomplish this by getting rid of the middlemen who charge exorbitant Forex exchange fees and give unfavorable rates.

With respect to xVia on whether or not it uses XRP, there is a discussion on xrpchat.com that claims that it does. One explanation is that since it is compatible with the XRP ledger, the end user can determine to use XRP on the API based payment solution known as xVia. XRP is used as an intermediary asset and pool of instant liquidity to make the payment cheaper and faster as can be seen in the trials of xRapid earlier mentioned.

In a nutshell, xRapid and xVia do in fact use XRP as a source of instant liquidity and a way to cheapen and quicken the fiat transaction.

Now the biggest question is if the XRP used in both payment solutions comes from the circulating supply or the one in escrow that is released every month. 1 Billion XRP per month is known to be released from escrow. The unused XRP after the monthly release is usually locked back up into the same Escrow. Perhaps the team at Ripple can answer this question.

With respect to the current market performance of XRP, the markets are in the RED. XRP is down 12% and currently trading at $0.71 at the moment of writing this. This is due to the market losing close to $40 Billion in terms of total market capitalization. Bitcoin is also not doing to0 well with the current value of $8,767 and down 6.22%. Perhaps next week will be a better one for the crypto-verse. Keep HODLing!

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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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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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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.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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