Crypto Exchange Coinbase Adds Support for XRP on Retail Platform and Mobile Apps
Crypto Exchange Coinbase Adds Support for XRP on Retail Platform and Mobile Apps
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Proof of Love Ep. 4 Julia Brave the World
Coinbase, one of the largest cryptocurrency exchanges has recently been on the fiery end of a debate over its recent controversial acquisition of Neutrino, a startup which focused on blockchain analysis and used public blockchain data to trace cryptocurrency transactions. Neutrino, an Italy-based company was founded in 2016 and is led by Giancarlo Russo, Marco […]
Coinbase faces criticism over acquisition of Neutrino; releases official statement to defend its accretion
Less than a week after the announcement of full trading support for XRP on the Coinbase Pro division of the San Francisco-based brokerage and exchange platform, the same functionality is coming to the consumer-facing wing of the firm. In addition, full support will be made available on both the Android and iOS Coinbase applications.
Unlike following the previous announcement, the XRP price has remained consistent. The news that the digital asset was being launched on Coinbase Pro was greeted with a short-term price dump, followed by a quick retrace back down.
As reported in a recent blog post, the XRP digital asset will be fully supported at the well-known brokerage and exchange platform from today. Many in the digital currency community have been calling for the trading venue giant to add XRP for some time now. They finally got their way with full support already going live at the popular trading venue earlier today.
The blog post states that users of Coinbase.com (the main consumer-facing department of the exchange), as well as its Android and iOS applications can now “buy sell convert, send, receive, or store XRP”. However, not all users will benefit from the expanded offerings immediately. Those customers accessing Coinbase from either the UK or the state of New York will have to wait until a currently undisclosed date to take advantage of the new listing.
— Coinbase (@coinbase) February 28, 2019
As part of the blog post detailing the launch of XRP support, Coinbase state that it expects greater numbers of new digital assets will be coming to the platform in the future. This has been made possible with the updated listing process it launched last September. The stated goal with regards listing new assets, according to Coinbase itself, is:
“Our goal is to rapidly list all assets that meet our standards and are compliant with local law, while providing our customers with the tools to discover, evaluate, trade, and use digital assets.”
Coinbase also state that it is providing information about all the assets it lists to help bring new users up-to-speed with the differences in the technologies. The Coinbase Learn platform covers a wide range of topics, from introductions to Bitcoin itself, to securing assets, and taking up position in various cryptos.
Unlike the previous announcement of XRP support coming to Coinbase Pro, today’s news has been barely reflected in the market. The price of XRP had surged by over 10 percent following Tuesday’s news but sharply fell the next day.
By contrast, today’s announcement has not been greeted with either an increase in buying or selling pressure and XRP is currently trading almost exactly where it was 24 hours ago. This is likely due to the fact that support at Coinbase.com was strongly hinted in the earlier announcement. However, it has been launched much quicker than many were expecting.
Related Reading:Â Why Did Major Crypto Exchange Coinbase Suddenly Add XRP?
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The post XRP Added to Coinbase Consumer Exchange, XRP Price Remains Flat appeared first on NewsBTC.
XRP Added to Coinbase Consumer Exchange, XRP Price Remains Flat
Swiss Crypto Bank Warns Customers About Company Masquerading as Partner
Bitcoin and Altcoins Recovered From a Sharp Decline&nbsp;&nbsp;CryptonewsRecently, there was a sharp decline in bitcoin price below the USD 3,800 and USD 3,750 levels. However, the decline did not last long and BTC/USD bounced …
Bitcoin and Altcoins Recovered From a Sharp Decline – Cryptonews
Two long-anticipated upgrades appear to have officially activated on the ethereum blockchain, the world’s second-largest by marketÂ value, without incident. At 19:57 (UTC), the sixth and seventh system-wide upgrades to the software, dubbed Constantinople and St. Petersburg, respectively,Â rolled out onÂ the main network at block number 7,280,000. As seen on blockchain monitoring website Fork Monitor, there is […]
Ethereum Upgrades as Hard Forks Activate on Blockchain
While Venezuelaâ€™s economy continues to suffer under the haphazard mismanagement by NicolÃ¡s Maduro, it has caused the country’s citizens to rely on Bitcoin as a currency, store of value, and its use to transfer funds across borders.
Bitcoin has been at the center of many discussions claiming that the entire country is turning to the leading crypto by market cap, with one recent op-ed in the New York Times offering up a story how it saved one struggling Venezuelan citizenâ€™s family. However, a new counter-argument is suggesting that Bitcoinâ€™s usage and dominance in the economically strapped country is extremely overstated, and is instead is being used to fuel cryptocurrency-promoting campaigns.
A recent opinion piece published by the New York Times entitled â€œBitcoin Has Saved My Family,â€� has the crypto world buzzing. Bitcoinâ€™s deflationary design, its existence outside the control of governments and financial institutions, and its use as a store of value and transactional currency make the first ever cryptocurrency especially valuable for nations in economic turmoil or those without meaningful banking infrastructure.
The articleâ€™s author told a tale of how due to the rapidly declining value of the bolivar â€“ Venezuelaâ€™s fiat currency â€“ he buys Bitcoin from LocalBitcoins and uses it to send money to family members, or cashes it out to the bolivar when its time to actually spend money on essentials such as groceries, or in the articleâ€™s example, a carton of milk.
Many may wonder why someone would prefer to keep their spending money in Bitcoin when the price of the cryptocurrency has declined over 84% since itâ€™s all-time high price of $20,000, however, bolivarâ€™s annual inflation rate in 2018 was nearly 1.7 million percent. To avoid the value of the authorâ€™s funds from falling too much, he finds Bitcoin to be a safer method that better preserves its value.
Recently, a counter-argument was made against the New York Times piece, penned by a journalist from Venezuelaâ€™s capital, Caracas. The author details how, despite conflicting reports and dominant majority trading volume on LocalBitcoins originating from Venezuela, the country is â€œnot becoming a Bitcoin nation.â€�
The author himself previously published an article about â€œhow Bitcoin is a lifeline for some Venezuelans,â€� he doesnâ€™t want to â€œoverstate the popularity of bitcoin in Venezuela.â€�
â€œAnd please donâ€™t use our crisis to attract attention to your crypto campaign,â€� the author pleads.
The author claims that although the nation has its own native cryptocurrency in the oil-backed Petro, and many are indeed turning to Bitcoin, the countryâ€™s citizens are still generally confused by crypto, and donâ€™t yet trust the asset class as a medium of exchange. Others outright think itâ€™s a scam, or lack the technological infrastructure to even access cryptocurrency.
Related Reading |Â Strong Fundamentals: Bitcoin Daily Transactions Return to Bull Run Levels
â€œVenezuelaâ€™s Internet continues to deteriorate, as the government manages most of countryâ€™s telecommunications concessions. Once you get far from the big cities it is even harder to get an good Internet connection. Smartphones, which tend to be priced in dollars, are even more expensive for Venezuelans now,â€� the author reveals.
In conclusion, the author believes that Bitcoin being a savior for the country has been overblown by the cryptocurrency community, and that Venezuelans would rather fight harder to earn income in their native fiat currency, and find other workarounds to deal with the governmentâ€™s tightening grip that donâ€™t include cryptocurrency.
The post Counter Argument: A Caracas-Based Journalist Says Bitcoin is Not Saving Venezuela appeared first on NewsBTC.