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Lousy day for the crypto market but not Ripple: ExLand lists XRP

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A Hong Kong-based cryptocurrency exchange, ExLand, has announced the listing of  Ripple’s native token, XRP. Even though it has been a sad day for all the crypto market as almost every single coin is in red by double digits (except XRP), this news would make Ripple community defy from others. The official listing news was tweeted yesterday.

Nobody will blame you if you’ve never heard about ex.land. It’s a cryptocurrency exchange based in Hong Kong, owned by China Sinx Group that keeps a shallow profile and, even if you run a very detailed search to find out details about the parent firm (or the exchange), you’ll find very little information.

Hong Kong has been a bridge between China and the West (the United Kingdom, especially) since the XIX century. And it keeps trying to remain so despite that it’s not a British colony anymore, but is now rejoined to the mainland.

It enjoys a certain degree of autonomy which is why many of mainland China’s most relevant companies try to take advantage of Hong Kong’s special status to lessen friction in doing business with the rest of the world. And that’s one of the reasons that ex.land is based there, and it’s able to trade on Bitcoin freely when the Chinese government has been openly hostile to it — despite the fact that 80% of all Bitcoin mining is done, precisely, in China.

So, the news is that ex.land adopted Ripple’s XRP currency into its platform. It’s not only going to support it, but it’s going to trade it using an XRP/USD pair.

That’s the relevant thing. If you’ve traded any digital asset in the past, you’ll know that there are not that many coins that can be bought directly using fiat currencies. The most usual way of exchanging cryptocurrencies is to buy Bitcoin first, then send it from your wallet to your exchange of choice, and only then use it to buy any other coin you like, such as XRP.

More and more crypto exchanges in the world are adopting XRP in several kinds of pairings (XRP/BTC still being the main one), a few are adopting it in an XRP/USD pair (such as ex.land) and there are some that are even adopting Ripple’s token as a base coin, putting it in direct competition with Bitcoin, no less.

The news comes to show the amazing amounts of progress and credibility that XRP is gaining in the cryptosphere when it started life as one of the most unpopular and hated tokens because of the company’s stated mission to help banks and the traditional financial system.

As things stand today, XRP has become the world’s second largest cryptocurrency by market capitalization over the last week, taking over Ethereum’s spot. It was last year’s most profitable asset, and it’s been one of the handfuls of coins that’s actually been growing consistently over the last month.

Ripple keeps announcing new strategic partnerships and developments for the company’s software and for the token, it keeps getting positive attention and coming up with all kinds of new use cases.

It’s one of the few blockchain projects that are concentrated on making cryptocurrencies useful in the real world. That policy keeps creating demand for XRP. Demand creates trade volume, and both things together make the asset more valuable.

XRP is the kind of asset that crypto needs. It will compete with Bitcoin, and it will turn the crypto market into a real economy instead of a speculative game for aficionados.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

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 Mintchipdesigns/PixaBay

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Revealed: The Mental Skills Required to Be a Successful Trader

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The world of financial trading, be it investing in cryptocurrencies on the market or trading stocks, can be an unforgiving one. Only the very best are able to rise to the top and turn their trading regimen into a seven-figure income, meaning that total dedication to your craft is a prerequisite. Ask any successful trader, and they’ll tell you that having the right mindset is the key to success.

A clear mind with laser-sharp focus and serious endurance will be able to see the bigger picture, spot the most profitable trades, keep track of the market, reduce risk, and compete with the best of the Wall Street pros. In many ways, successful trading is a lot like being a successful poker player.

You need to be able to play the long game, make the most of your luck, and know exactly when to strike to become a high roller. All of these require a strong arsenal of mental skills. Here are the mental skills you need to build in order to become a successful trader.

Source: Pixabay 

Caption: Successful trading in the financial market requires mental strength, resilience, and endurance. 

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Why is Crypto Futures Trading So Easy Today?

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-One-on-one interview with CEO of BEX500

Bitcoin futures trading is the most efficient way to engage yourself in bitcoin market without having to acknowledge the ownership and storage responsibilities.

Some users say, crypto futures trading has never been easier with BEX500 exchange.

Can we trust BEX500 with our bitcoin? Today, we invited Anna Myshustina (Anna), CEO of BEX500 to dig more into that.

Q: hey, Anna, thank you for joining us. You were a successful trader in futures and options, what motivated your innovation in crypto industry?

Anna: My pleasure. I have been in derivatives for 8 years. As a trader, I found many crypto futures exchanges too complicated for beginners, but not efficient for the experienced.

So, we’d like to make a change. We are the first crypto exchange to introduce [ONE Account for Live & Demo]. You can login https://www.bex500.com and register for once and for all, and it will be for both live & demo trading.

While, traders in other competitors are still forced to login live and demo with 2 different accounts in 2 addresses for “live” and “testnet”.

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Cryptocurrency, Online Gambling, and Regulation: One of the Three Can’t Stay

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To say that cryptocurrency is disrupting the world of technology and finance is an understatement. Ever since they arrived on the scene in 2009, they’ve been geared toward forever changing the fintech landscape for good.

One of the main reasons the technology proved to be so revolutionary was blockchain — the backbone of most cryptocurrencies. Blockchain is the digital ledger that provides full transparency and immutability of data, all the while eschewing any kind of third-party authority meddling. These attributes can lend themselves quite handily in a whole series of industries.

But increasing regulation of cryptocurrency may lead to it no longer proving useful to particular niches. One of these endangered industries is online gambling, which could suffer tremendously from heavily regulated cryptos.

How Cryptocurrency Helps Online Gambling

Online gambling happens to be one of many that would (and does) benefit from integrating cryptocurrency. Gambling happens to be illegal in many countries, and the people there cannot access online gambling either, even though it specifically remains unaddressed by most legislation. They had no channels with which to finance casinos they wish to play in, seeing that banks or other financial services don’t want to interfere when there’s a chance of legal repercussions.

But cryptocurrency enabled casinos to accept players that had no alternative with which to engage…

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