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XRP United. It’s not a soccer team

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XRP
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Ripple’s XRP currency was born with a very specific purpose in mind: to eliminate all the friction that banks and financial institutions have to deal with when they settle international payments using the traditional SWIFT system. XRP and Ripple’s blockchain and technologies were not meant, initially, to be a retail currency that could be used by people like you and me. It was (and to some extent, it remains) a digital asset for bankers so that their job becomes easier, quicker, safer in a way in which the benefits trickle down to their customers.  That’s why today’s news is so important.

Ripple is not changing the outlook it has in terms of customer base, but it’s understood that expanding their horizons are good for the company, for the XRP coin and for the cryptosphere as a whole. In that spirit, the company has been looking to establish new strategic partnerships that bring XRP to new customers and make it more of a street coin than an elite coin.

XRP is looking to become real money, and they’re succeeding slowly but surely. For instance, there is a European bank that, right now, can give you a debit card based on XRP which you can use to pay for good and services in the exact same way you can use your savings account’s plastic card based on your local fiat currency.

The latest development in this sense is called XRPunited (based at www[dot]xrpunited[dot]com) which is a cryptocurrency exchange based on XRP. Why is this important? Because most (if not all) crypto trades and exchanges in the world are based on Bitcoin. This one is not, this one is based on Ripple’s XRP.

Let’s dig a little deeper. If there is a crypto coin you fancy, other than Bitcoin (and a handful of others) you can’t just buy it at your exchange of choice paying with your debit or credit card. You need to buy some Bitcoins, then transfer them to your exchange and use them to get the cryptocurrency of your preference. This is why most of the crypto trade is pegged with Bitcoin. In this new exchange, you will be able to trade any cryptocurrency you want based on XRP instead of Bitcoin, Ethereum, or any of the other usual suspects.

This is great news for a project that’s been steadily growing in value lately, as the rest of the market has been going down. Also, this is going to boost the very same coin that was last year’s most profitable one.

The new project will create an additional trading volume for XRP as well as new demand. Those will be the two factors that will drive the market up, in the long run.

XRPunited went a few days ago, and it won’t only allow you to trade XRP for any fiat or cryptocurrency you want, but also for any commodity. Gold, coffee, soybeans, you name it. In their own words, it’s all about the new “internet of value”.

This is exciting news for all those who hold Ripple’s XRP tokens, but it’s also good for the cryptosphere as a whole as well managed projects are achieving mainstream adoption and becoming useful in the real world.

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 Robci95/Pixabay

Altcoins

AZ FundChain Offers a Compelling Alternative to Traditional Crowdfunding

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AZ FundChain
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Although many tokens have collapsed during the ongoing altcoin apocalypse, the future remains bright for applications with real world usage.  Because of the ongoing bear market and limited trading opportunities, analyzing businesses with the potential to experience real world adoption should be the priority.  Part of that analysis should include looking at industries that need improvement.  During my analysis, one area that quickly popped up is the field of traditional crowdfunding and money circles.  And, as it turns out, AZ FundChain application offers a compelling alternative.

Problems with Traditional Crowdfunding

President Obama’s JOBS Act essentially laid the ground work for crowdfunding.  This legislation was passed in 2012 and included a provision for large groups of anonymous investors to fund startups.  It essentially gets around the dreaded “qualified investor” requirement that created a barrier for so many potential participants.  Crowdfunding is a great way for non-traditional businesses to raise funds for operating capital.  It certainly beats having to beg a bank for a loan, or, even worse, a loan shark.

But, as the common cliché goes, no good deed goes unpunished.  Traditional crowdfunding and money circles certainly have their fair share of problems.  The biggest problem is trust.  There are essentially very little checks and balances when it comes to how these companies will use the money that is raised.  Companies can promise the world but may not deliver…

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Why no one should be using banks

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why no one should be using banks
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If government is the devil, the bank is a demon.

It’s not your money anymore.

The moment you put your money on your bank account it becomes the property of the bank. Legally speaking you have just lend your money for minuscule interest. And since the money is not your, terms do apply, so you cannot withdraw all of them in one day, if the amount is high.

Government will know everything

Today banks are obligated to tell the authorities everything they know about you, including how much money you have, how you got it and where you spend it. The golden age of bank secrecy is over. Of course if you are a law abiding citizen, you might think that you have nothing to hide, but it’s not about hiding stuff. It’s about basic human right, and rightness for private life. The government should not be allowed to watch you.

Banks ask too many stupid questions

It’s your money, you rightfully earned them, but still you need to explain to the bank where you got it from and be shamed by them. The funny part is that after long and painful due diligence process the bank may still decline in providing service for you.

They can legally suspend your account or even steal your money

Laws are not made to protect people, they are made to protect the…

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Neteller to Launch a Crypto Exchange

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Neteller
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The way to make sure that the cryptocurrency momentum continues and that cryptocurrency credibility occurs is when big companies begin offering services based around cryptocurrency and other features of blockchain. This was certainly the case when Neteller recently announced it will offer a cryptocurrency exchange service in addition to its digital wallet services. The company announced that the 28 currencies compatible with the fiat wallet were able to buy, sell, and hold cryptocurrencies – including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. It makes sense to begin with Bitcoin and Ethereum as they are seen as the originators of what cryptocurrency and blockchain can do and also the future of how blockchain can be used, despite news that Ripple may be set to topple them all. Neteller’s move into cryptocurrency shows it has its sights set on a bright future of cryptocurrency and making it more accessible. But where do they stand now?

Neteller and Cryptocurrency

Neteller are optimistic about the exchange features of the digital wallet, claiming that they plan to add more cryptocurrencies in the near future. Neteller’s benefit is the ease at which one can begin their cryptocurrency trading journey. Not only do a range of banks offer services to fund the wallets and exchanges, but so do a variety of online payment options. This helps remove the barrier to entry that exists in…

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