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XRP deserves to be listed on Coinbase, says Ripple CEO

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We can all agree that Coinbase is certainly one of the most powerful exchange platforms in the cryptosphere. In fact, that is the main reason behind the wrestle of all the cryptocurrencies on the market for obtaining the recognition of the platform and the validation that comes with it. In this sense, one of the coins that have been fighting the most for its position on this platform is nothing less than Ripple (XRP), the third largest cryptocurrency by market capitalization of the industry.

Much has been said regarding would it be or not a possibility for the coin to appear listed on Coinbase, but the truth is many rumors were created around the fact, and as it seems, a great part of the traction the coin has been getting lately is because of it.

The addition of XRP by Coinbase still remains as “to do”. However, for the first time the CEO of the company, Brad Garlinghouse, emitted a public opinion on the issue, and as it appears, he thinks Coinbase definitely should add the XRP token to its lists. Let’s find out why he thinks so.

Garlinghouse declarations for the CB Insights’ Future of Fintech conference

Garlinghouse was interviewed by John Jeff Roberts at the CB Insights’ Future of Fintech conference held in New York. During the interview, he was asked about his thoughts on Coinbase and its likely interest in the token of the company he represents. Something he responded by mentioning the fact that Ripple is more than a token, it’s a solution for financial institutions in order to make transactions, easier, faster, and cheaper. He said:

“As we solve problems at scale for institutions, I think it’s in Coinbase’s interest to participate in that.”

Let’s recall Ripple is one of the main solutions for bank institutions around the world, many of which already use its products xCurrent, and xRapid in order to improve cross-border payments. This is certainly one of the factors behind the coin maintenance of its value throughout the time, which of course, the greater acceptance, the greater the value.

Nevertheless, the XRP token experienced a peek back in January that led the coin to the astonishing value of $4, and despite the great relationships the company has created around the world this was mainly attributed to the furor behind the rumors of the Coinbase listing, a fact that two months later the platform decided to elucidate by stating they will only list cryptos that are not classified as securities by regulators.

This fact surely is one of the things holding back the XRP token of being listed in American exchanges such as Coinbase, Circle, itBit, Square Cash app, or Robinhood. A lot of concern has been raised around XRP likelihood of being officially classified as a security since the token is not fully decentralized and a large part of the ownership of the coin belongs to the Ripple team itself.

Regarding this, Garlinghouse stated that there is no doubt that XRP is not a security since the public ledger exists independently of the token, and besides that, the way he considers it, owning something doesn’t mean you have control of it, a fact he sustained by saying that even when,

“Saudi Arabia owns a lot of oil—that doesn’t give them control of oil.”

He concluded by saying that he cannot predict what the next steps are going to be for the main exchanges in America, but as he thinks, many of them seem to be waiting for regulators to classify the token, which according to his appreciation, it’s nothing but a huge mistake.

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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.

Image courtesy of Pxhere.com

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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