“No Decision” on New Assets, Coinbase Says Among Ripple Rumors
Coinbase is pushing back against stories that it may soon add Ripple’s XRP token to its current trading pairs.
The guess originated after it revealed that Coinbase chief operating officer and president Asiff Hirji might show up close by Ripple chief executive Brad Garlinghouse on a special episode of CNBC’s “Fast Money” program on 6th March. What’s more, in spite of any hard confirmation of the presumed listing, the price of XRP rose to over $1 on Monday.Following hours of radio blackout on the issue, Coinbase used Twitter to push back against the rumors, expressing that the January proclamation about listing new cryptocurrencies – which subtle elements how a “committee of internal experts” eventually make those decisions – hadn’t changed.Our January 4th, 2018 statement continues to stand: we have not decided to add additional assets to either GDAX or Coinbase.As prepared CNBC segment, it’s not clear whether Garlinghouse and Hirji will speak on the panel or show up independently. Host Melissa Lee tweeted a screenshot of a promo for the crypto-themed segment prior today, which likewise records Passport Capital founder John Burbank and Social Capital founder and CEO Chamath Palihapitiya.A representative for Ripple declines to comment on the rumors when reached.Ripple has seen a further outstanding month not withstand its cryptocurrency asset XRP losing significantly versus unequaled highs in early January.
XRP has won the attention of its customers’ by shooting up to 1,000 percent at the start of this year as well as new clients; its blockchain startup has become the talk of the crypto industry in 2018.However, it is essential that the newcomers are aware that the root of all this enthusiasm is due to specific claims by the startup- specifically, that its tech would be possible to transfigure international payments, improving the outdated methods which are followed for payments and money between substantial financial institutions.According to Ripple, not only are its products cheaper and faster but it also proudly endorses them as being more methodical than the services available in the marketplace nowadays, an assert that emphasizes primarily on its use of cryptocurrency and blockchain technology.Coinbase just threw a bit of cold water on Ripple enthusiasts eager to see their coin hit the popular mainstream exchange.Rumors that Ripple’s XRP would be next in line after Bitcoin Cash reached a fever pitch this week among coin hype types, with some reading between the lines of a Tuesday segment of CNBC’s Fast Money that’s set to feature Ripple CEO Brad Garlinghouse and Coinbase President Asiff Hirji in what appears to be a panel discussion on cryptocurrency trends.Speculation based on the Fast Money segment drove XRP up to $1.07, up about 6% from weekly averages. Ripple’s XRP remains the only coin in the top five by market cap that isn’t available on Coinbase, though given XRP’s centralized nature and very different aims when compared to other cryptocurrency projects, its absence isn’t that surprising. Still, there is plenty of trading interest and those things don’t preclude Coinbase from adding XRP in the future were it to choose to do so.Any statement to the contrary is untrue and not authorized by the company.” Following the statement, XRP slid back modestly toward its previous averages.The company also linked to a January 5 blog post on its criteria for adding new assets. That post states that “Coinbase will announce the addition of new assets only via our blog post or other official channels.” The company likely isn’t eager to repeat the chaos around the introduction of Bitcoin Cash. Support for Coinbase’s newest asset was announced officially well ahead of time, but the rollout itself was marred by massive premiums, a trading freeze and an internal insider trading investigation.
“No Decision” on New Assets, Coinbase Says Among Ripple Rumors
When it comes to trading cryptocurrencies, you have to speculate whether the market you have chosen will go up or down in value. And the interesting thing is that you never own the digital asset. Actually, the trading is done with derivative products like CFDs. Let’s take a look at the benefits of trading crypto currencies. Read on to find out more.VolatilityWhile the cryptocurrency is a new market, it’s quite volatile because of the short-lived speculative interest. The price of bitcoin dropped to $5851 from $19,378 in 2018, in just one year. However, the value of other digital currencies is quite stable, which is good news.What makes this world so exciting is the volatility of the value of crypto currency. The price movements offer a lot of opportunities for traders. However, this comes with a lot of risk as well. Therefore, if you decide on exploring the market, just make sure you do your research and put together a risk management strategy.Business HoursTypically, the market is open for trade 24/7 because it is not regulated by any government. Moreover, the transactions are done between buyers and sellers across the world. There may be short downtimes when the infrastructural updates take place.Improved LiquidityLiquidity refers to how quickly a digital currency can be sold for cash. This feature is important as it allows quicker transaction times, better accuracy and better pricing. Generally, the market is kind of illiquid as the financial transactions happen across different exchanges. Therefore, small trades can bring large changes in the prices.Leveraged ExposureSince CFD trading is considered a leveraged product, you can open a position on what we call “margin”. In this case, the value of the deposit is a fraction of the trade value. So, you can enjoy a great exposure to the market without investing a lot of money.The loss or profit will reflect the value of the position at the time of its closure. Therefore, if you trade on margin, you can earn huge profits by investing a small amount of money. However, it also amplifies losses that may exceed your deposit on a trade. Therefore, make sure you take into account the total value of the position prior to investing in CFDs.Also, it’s important to ensure that you are following a solid risk management strategy, which should involve proper limits and stops.Quick Account OpeningIf you want to buy crypto currencies, make sure you do so through an exchange. All you need to do is sign up for an exchange account and keep the currency in your wallet. Keep in mind that this process may be restrictive and take a good deal of time and effort. However, once the account is created, the rest of the process will be quite smooth and free of complications.Long story short, these are some of the most prominent benefits of crypto currency trading in the here and now. Hopefully, you will find this article quite helpful.
Be sensible and follow all of the basic rules of investing. A few people have got burnt fingers by not following some of the most basic common sense rules which apply to all forms of investing. I have made a list of the main ones to consider. Here they are.
Number one: Invest only discretionary money in Cryptocurrency
The money you are using to purchase Bitcoin, Ethereum, and the like must be money you can fully afford to lose. It must be discretionary spending money. You wouldn’t go to the races or the betting shop with your retirement fund and use that to gamble with. Cryptocurrency investing has to be treated in the same way. It is highly volatile. The number one rule is to purchase cryptocurrency with money you can fully afford to lose using only your discretionary spending money.
What is discretionary spending money?
That is up to an individual’s own priorities and personal circumstances. One person may consider money set aside for a holiday to the islands as discretionary spending but someone else may not want to risk that money in Bitcoin.
Number two: Assess the risk
As with any investment it is important to assess the risk. It is no secret that Bitcoin is volatile but if you abide by rule number one then there will be little or no change in your financial situation if the cryptocurrency market takes a tumble. Market volatility is not the only risk investors in some countries have to face. China imposed a blanket ban on all crypto transactions in order to stop all cryptocurrency related activities.
Number three: Don’t get greedy
Greed gets the better of a lot of investors. They see the value of their Bitcoin skyrocket and decide to use money which they should not be speculating with, for purchasing more Bitcoin. Having some form of exposure to the cryptocurrency market adds an exciting string to your financial bow but don’t try to get rich quick by diverting all of your money to Bitcoin and ignore other forms of investment.
Number four: Diversify
Spreading your risk helps minimize the risk of losing all your money in one go. Several investors lost all of their money in one major financial hit during the 2008 Global Financial Crisis when companies they invested their life savings with went under. They invested all of their eggs into one basket.
What has this got to do with investing in Bitcoin? Hacking is a danger with Bitcoin therefore having money spread among different platforms will reduce your chances of this happening.
Number five: Use different platforms
Hacking is a possibility which can see your cryptocurrency disappear. It is a good idea to invest your cryptocurrency among different platforms such as Blockchain, Binance, Blockfi. etc. That way if one of these platforms gets hacked you won’t lose everything in one go.
Number six: Find a safe place to store your password
This is important because many of these cryptocurrency trading websites will only allow you a certain number of wrong passwords and after that you will be permanently locked out of the site.
You wouldn’t want this happening to you.
There are several things which can go wrong in the crypto-market but with careful planning you can mitigate the risks.
What do you do if you want to learn driving a car? You will try to find an expert teacher, isn’t it? You do not want to avail the services of a novice individual to help you out, but a professional person can provide you the vital tips and most importantly guide you efficiently. Similarly, when it comes to investing in the stock market for the first time, you require a knowledgeable advice to attain your financial goals and get profitable returns.
If you are a beginner, then it is quite obvious that you may be having no information about the process of buying the right shares in the market. In such a situation, getting the right tips from an experienced financial advisor or a registered advisory company will truly prove to be a great blessing in disguise. However, there are some of the important things that have to be kept in mind while choosing the top stock market advisory company, which are as follows:
How much assistance do you actually require?
Before you make up your mind to hire an advisor, it is imperative that you must first decide about the kind of service you require from them. You may need their help at the beginning or during the time of any issues. This is because an advisor has to formulate a map according to your requirements. Hence, it is suggested to ascertain your needs first and then take further action.
Choose a top ranked advisory company
It is a very important point that has to be taken into the consideration. Availing services of the well known advisory company or a financial advisor is an absolute necessity. Make it a point to carry out a proper background or research work about the company. Check out their credentials, reputation, experience, etc before hiring them.
Asking for a sample financial plan initially makes sense
When hiring a financial advisor, then do not forget to ask for sample plan first. It is imperative to note that there is no such thing called the perfect plan. A sample plan will help you to determine whether an advisory company is actually making sense according your requirements or not.
The financial planners or advisory companies can really turn out to be the greatest asset for you if you choose the best one. They are just like the professional sailors who can help you out to sail through stock investment related problems quite efficiently.
Deepak is a financial advisor who likes to provide quality tips to the people facing any issues with regard to investing in the stock market. He likes to keep himself updated about the stock market by reading articles, news and blogs, etc.