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

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Ripple

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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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

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.

Mission Statement

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, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

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 like Bitcoin and Dash, to help protect their assets and hard-earned…

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