Amelia Eva

ByBit is one of the industry’s leading exchanges and one of its interesting features is Cross Leverage ByBit trading. ByBit allows traders to make high volume trades, up to 100x leverage on their Bitcoin perpetual swap futures. However, you require extensive background knowledge to opt for margin trading on ByBit.

Here are the fundamentals of Cross Leverage ByBit and things you should be aware of when considering the medium of margin trading.

What is ByBit?

ByBit was established in 2018 and is registered in the British Virgin Islands.

It is a cryptocurrency futures trading platform and perpetual swap futures are their only product. ByBit allows exchange between only four supported currencies on their platform. Moreover, they restrict their users to sell or purchase cryptocurrencies via fiat payment methods.

This narrow focus on perpetual swap futures works well for ByBit, however, and they have seen a steady increase in their trading volume in the last year. ByBit’s main competitors are other crypto derivatives platforms like FTX and BitMEX.

Cross Leverage ByBit Trading: Overview

Nowadays margin trading is popular and highly liked by experienced investors because it allows them the flexibility to get higher returns by investing little capital. At cross leverage ByBit you can use up to 100x leverage to increase the returns from margin trading. Although, if the market starts to move in the opposite direction then the losses are huge as well.

The process for margin trading is quite simple at first add funds to ByBit wallet and then go to the margin trading tab then opt for long/ short. There you must select your collateral or initial margin. Once done adjust the leverage you want then the platform itself provides the funds to open a position. There are two options when it comes to margin trading Isolated Margin trading and Cross Leverage ByBit trading.

• ByBit isolated margin trading: With this trading, you can only put funds of a particular position at risk. In case there is fluctuation in the market then there will be no risk to your available balance, as the platform will not deduct anything from your account, but you will have to add more funds or might face liquidation.
• Cross leverage ByBit trading: Here the platform utilizes user available balance to prevent liquidation. If the market goes sideways, then cross-margin trading can cost you more than your initial capital.
• Leverage at ByBit: It offers maximum leverage of 100x on the cross and isolated margin trading.

Moreover, ByBit provides margin trading in three different contract options:

Inverse Perpetual

Bybit supports inverse perpetual contracts in BTCUSD, ETHUSD, EOSUSD, and XRPUSD. As BTC or any other financial asset will be the trader’s base currency/initial margin. Also, the trader is required to own that asset for using inverse perpetual.

The phenomena here are quite simple, if you do not own ETH, then you cannot trade ETHUSD perpetual contracts. Although, there is an asset exchange specification available on ByBit that you can opt for to trade an asset you possess for ETH and then use ETHUSD perpetual contract.

USDT Perpetual

ByBit margin trading utilizes a linear contract in USDT. These USDT perpetual contract further uses stable coin as collateral/margin, meaning the trader does not need to hedge positions. It supports USDT perpetual contract in BTCUSDT, ETHUSDT, LINKUSDT, BCHUSDT, etc.

Inverse Futures

Currently, ByBit established its inverse futures contract in BTCUSD0625, and the company is also planning to introduce another contract, BTCUSD0924 in the market. Traders here can use one BTC margin trading account across both BTCUSD perpetual and futures contracts.

Risks with Cross Leverage ByBit Trading

Cross leverage ByBit trading seems quite convenient because it allows you to attain maximum profits with minimal capital. However, like any coin it also has two sides. In case things go south in the crypto market then potential losses may also incur costing you liquidation. Hence here are some highlighted risks associated with margin trading that you must consider before investing.

• At ByBit you can only opt for single100x leverage, which increases your chances of incurring a loss by several times.
• You cannot leave your screen after placing a margin order, because of market fluctuations.
• The higher the leverage you use, the higher will be your chances of suffering a liquidation.
• You should practice hedging to avoid unnecessary losses. However, It provides hedging only in the futures contract.

It’s entirely devoted to providing top-notch margin trading services to its users. Many features might act as a lifesaver to a trader, and at the same time, overwhelming to a beginner.

Are You Looking for a Simpler Yet Smarter Way to Trade?

If you’re willing to invest your time and money in the financial markets but aren’t sure you have the experience or time then PrimeXBT Covesting is the best perfect solution for you.

This is one of the top crypto exchanges for beginners. It allows users to opt for copytrading, which means copying the trades of experienced traders without actively participating and keeping track of the market. Once you copy the trading portfolio of a trader you can sit back and enjoy the same returns that are generated for the expert’s portfolio.

Investing in cryptocurrencies seems to be here to stay. The impressive rally carried out in the last year by the best known, bitcoin – multiplying by 10 the price it had 12 months before – has led many to wonder if this time is the final one.

Investing in cryptocurrencies is not easy and carries certain risks, but more and more people are interested in the subject , including Elon Musk, the founder of Tesla and one of the richest people in the world, who caused large variations in the price of bitcoin with his tweets about the cryptocurrency and with the announcement that Tesla had invested 1.5 billion dollars in it.

Although it is a world still unknown to the general public and the average investor , nowadays even central banks are already talking about this type of virtual currencies and we can see agreements such as the one reached by Allfunds Blockchain and ConsenSys (which is the software company of Ethereum, the main alternative to Bitcoin ) to promote the use of blockchain technology in the distribution activities of investment funds and other types of regulated industries.

In addition to Bitcoin and Ethereum – or Ether – other outstanding alternatives among the more than 7,000 existing cryptocurrencies are Ripple, Litecoin, Neo or Dogecoin, a digital currency whose value has also risen a lot, also being cited by Elon Musk in another tweet.

Next, we will review what cryptocurrencies are, what their evolution has been and what risks investing in cryptocurrencies entails.

How cryptocurrencies were born

Already in 1983, a cryptographer named David Chaum, doctor in computer science from the University of Berkeley (California) devised a cryptographic system called eCash, and in 1994 he would launch DigiCash, the first digital currency in history .

However, at that time electronic commerce and the internet had nothing to do with the boom they have reached today, so a few years later, the company went bankrupt.

In 2008, under the pseudonym Satoshi Nakamoto (the real identity is unknown, it is not known if it is a person or a group of people), an article was published on a mailing list dedicated to cryptography, describing a P2P system of money. digital. And in 2009, the Bitcoin software was launched, creating the network and the first coins with that name . In honor of its creator, each bitcoin is made up of 100 million satoshis , which would be the minimum unit of account (something like cents) .

Blockchain and mining

To keep track of transactions or monetary exchanges in bitcoins, a distributed database is used, which stores the information in scattered and chained blocks, forming a structure of “chain of blocks” ( blockchain ).

Bitcoins are created by a process called “mining” at a predetermined, predictable, and decreasing rate . This causes the “miners” to compete with each other to produce them. What does it take to make bitcoins? Computers, especially with a good graphics card, since a great processing capacity is required to calculate codes . This has led to the creation of spaces dedicated to bitcoin mining, where thousands of computers work non-stop, especially in countries where electricity it is cheap as energy consumption is high. For example, the German mathematician Marco Streng set up one of thousands of computers in Iceland, where in addition to cheap energy, the climate is cold, ensuring that the computers do not overheat.

What is the value of a bitcoin?

Initially, bitcoin was worth nothing, but it could have value as long as it is accepted as a means of payment . In May 2010, a forum user paid 10,000 bitcoins to another for two family pizzas. What at that time was 41 dollars, in March 2021 it would be about 170,000; As a curiosity, every May 22 Bitcoin Pizza Day is celebrated in commemoration of this fact.

In 2018, a person bought an apartment in Tarragona valued at 550,000 euros for 40 bitcoins, which he had received by inheritance years before. When he inherited them, they were barely worth 3,000 euros, but in March 2021 their value would be around 2 million.

The very high levels reached by bitcoin and other digital currencies have caused many to wonder what their real value is . It depends on whether they are accepted as a means of payment and, if we consider it as an investment, on what buyers are willing to pay for it.

The number of bitcoins is finite, since it was defined that way at its creation – perhaps because if something is scarce it is more likely to have value – so that the maximum limit is 21 million coins . Currently there are about 19 million, approximately 90%, but each time mining is slower and more difficult, so it is estimated that between 2030 and 2040 it would reach 99%, but 100% would be reached around 2140 (if the “Miners” still have incentives to create them).

Can cryptocurrencies be another form of money?

Many analysts have influenced the possible role of cryptocurrencies as a decentralized form of payment, apart from central banks, and in fact they are already beginning to be accepted more regularly . Perhaps for this reason, the monetary authorities have begun to consider the possibility of creating their own cryptocurrencies.

Thus, China is testing the e-Yuan (DC / EP or Digital Currency / Electronic Payment), proposed to make payments through mobile phones, the Bahamas has authorized the deployment of its own cryptocurrency, and countries such as Canada, Turkey, Switzerland or the Eurozone itself are also studying their alternatives.

Can cryptocurrencies be a safe haven like gold?

In recent times , some cryptocurrencies such as bitcoin have been compared to gold in their role as a haven for investors in troubled times . The precious metal’s own bullish rally in 2020 encourages this comparison, and the scarcity of both assets is also in the same line.

When there are expectations that inflation will rise, gold becomes a refuge because its value is not influenced by the fact that there is more or less fiat money in circulation , or that it is worth more or less; The same happens in the case of cryptocurrencies, and more if we consider that there is a maximum limit of them, as we explained previously for bitcoin.

Mining for gold is difficult and expensive, and transportation and safekeeping of the precious metal is too . This would provide an advantage to bitcoin as a haven for investment, since it does not have to be transported or stored and can be immediately transferred anywhere in the world.

On the other hand, gold does have a value on its own , since it is used not only in jewelry, but also in the manufacture of various electronic products (computers, mobile phones, etc.), in medicine or even in the aeronautical industry, for its qualities of excellent conductivity and malleability.

Instead, cryptocurrencies only have that value depending on whether they are accepted as a means of payment ; Therefore, investing in them has a high added risk, since if they do not have that function, they are worth nothing.

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Bitcoin is a decentralised cryptocurrency that is not subject to the whims of central banks or national governments. Even though hundreds of cryptocurrencies are in use today, Bitcoin is the most commonly used and closest to conventional, government-issued currencies.

Advantages of Bitcoin

Greater Liquidity than Other Cryptocurrencies

Bitcoin has more liquidity than its peers since it’s by far the most common cryptocurrency. When converting to fiat currencies, users keep the majority of the currency’s inherent value. On the other hand, most other cryptocurrencies cannot be directly substituted for fiat currencies or lose significant value through such transactions.

Bitcoin resembles fiat currencies unlike most other cryptocurrencies. However, differing from major world currencies, Bitcoin cannot yet be bought and sold in any quantity at any time.

Increasing Acceptance as a Payment Method

Hundreds of companies embrace Bitcoin as a form of payment. It’s possible to purchase almost any physical object using Bitcoin. Bitcoin‘s rising mainstream adoption will undoubtedly be a significant help if you’re interested in reducing exposure to national currencies.

International Transactions Are Easier Than Using Regular Currencies

Bitcoin transactions across international borders are the same as those that take place within the country. There are no overseas transaction fees or red tape to deal with. Fees for overseas credit cards and ATM withdrawals can be as high as 3% of the transaction value, and money transfer fees can be up to 15%. Bitcoin transactions are easier to handle because Bitcoin is more common worldwide.

Generally Lower Transaction Fees

Bitcoin has lower transaction costs than other digital payment systems. Though transaction fees vary, it’s unusual for a Bitcoin transaction to cost more than 1% of its value. As compared to most other digital payments, which range from 2% to 3%.

Anonymity and Privacy Relative to Traditional Currencies

Keeping fiat currencies in a bank account or making online payments is no safer than physically crossing a shop counter with cash or a credit card. Your online accounts are protected from all but the most sophisticated hacking attempts. And they’re linked to you, enabling private retailers and government agencies to track your activity.

Bitcoin has built-in privacy features that allow users to keep their Bitcoin accounts separate from their public personas if they wish. Although it is possible to monitor Bitcoin transactions between users, determining who those users are can be difficult.

Independence From Political Agents and Creators

Bitcoin is immune to political interference because it is not developed or regulated by any government body. Governments find it far more difficult to freeze or seize Bitcoin units, whether as part of legitimate criminal investigations or as punishment for political activities.

Bitcoin is therefore unaccountable to its developers due to its utterly decentralised existence, success, and liquidity. Many less common cryptocurrencies have concentrated assets, with most current units kept in only a few accounts. This enables the currencies’ developers to control supply and value concerning other cryptocurrencies, causing holders to suffer-.

Built-In Scarcity

The built-in scarcity function of Bitcoin is likely to sustain its long-term value against conventional currencies and non-scarce cryptocurrencies. The majority of conventional currencies under the influence of the national government is common.

Conclusion

As a new technology, bitcoins can transform and improve the way we do business entirely. They give incentives to both buyers and sellers. We can safely assume that adopting this technology early and at a low cost is a wise decision for both businesses and consumers.

Source: Tradingbrowser

Cryptocurrency has been rapidly gaining popularity over the years, thanks to investment and interest from prominent entrepreneurs and organizations. It has opened up the financial market to those under-served by traditional banks, and the younger generation, in particular, are embracing the potential of crypto.

Here are some of the signs that cryptocurrency is joining the mainstream as a force to be reckoned with.

Banks Are Creating Their Own Digital Currency

Many central banks have plans to develop their own digital currency. This shows that traditional banks and financial institutions see cryptocurrency as worth investing in and competing with.

Wallet Technology Is Advancing Rapidly

The technology of cryptocurrency wallets is becoming more efficient and secure. There are hundreds of wallets to choose from, and there is something for every budget, transaction and security concern. The advances in wallet tech prove that demand is present for cryptocurrency.

Major Purchases With Cryptocurrency

Cryptocurrency is no longer only used to make small anonymous transactions online. Crypto is being accepted by many major retailers. Some people have even used Bitcoin as a down payment for home loans Please add this sentence: You can always check the price of Bitcoin or any other cryptocurrency using this crypto converter..

Cryptocurrency Shows We’re Moving With The Times

We live in the age of technology, the internet and globalization. It stands to reason that the financial market would shift and change to match. Cryptocurrency is one of the most evident markers that the world is becoming a digital place.

Paying Taxes And Wages With Cryptocurrency

There is discussion in Miami about using cryptocurrency to pay taxes and city workers’ wages. This is a way to attract more technology businesses to the area and allow greater flexibility for residents. Whether this will be successful remains to be seen, but the fact Miami is discussing it shows that people are taking the future of crypto seriously.

Investment From Major Entrepreneurs

The investment of major players in the digital world, such as Elon Musk and Tesla, have further solidified cryptocurrency as a powerful financial force. The confidence that high powered entrepreneurs have in cryptocurrency has buoyed investors.

Providing Financial Power To The Under-Served

Cryptocurrency allows those who are under-served by traditional banks to access financial services. This includes people who have high debt or for some other reason can’t access traditional financial solutions.

Rising Value Of Cryptocurrency

The value of Bitcoin has been rising rapidly in recent months. This has caused a surge in investment in other cryptocurrencies. Cryptocurrency can be an excellent way to diversify an investment portfolio.

Final Thoughts

Cryptocurrency has excellent potential to improve and innovate the financial world. While many in traditional financial institutions see cryptocurrency as a flash in the pan, it is hard to argue with the amount of ground the crypto has gained in the past decade.

One of cryptocurrency’s main stumbling blocks is its volatility. Crypto detractors tout this volatility as a primary reason why cryptocurrency will never overtake traditional banks and finance. While this may be the case, certainly, cryptocurrency is here to stay.

Given how completely unpredictable the last twelve months have been, it would be fair to say that we’re all feeling a little cautious when it comes to making new investments. Many of us have been on a reduced wage while on furlough, many of us have been taking on more financial responsibility while caring for friends and family, and many of us were made redundant during this pandemic.

Deciding to explore a new investment is never something to be taken lightly, but the fact is that trading cryptocurrency is not something that is reserved for IT geniuses and people in basements. In fact, it’s more common and everyday than ever, and it’s only going to get more accessible and exciting. Here are a few reasons why cryptocurrency’s popularity has made now a great time to get involved.

Cryptocurrency Is Getting More Mainstream

This may not be as enticing a point for any traders who particularly enjoy hopping on the latest thing before anyone’s even heard of it, but for anyone who’s been waiting for cryptocurrency to settle down before they jump on board, then there’s something that you need to reconcile yourself to.

Cryptocurrency is a volatile market and there is no sign of that changing any time soon. However, with increased interest come more conservative options if that’s what you’re interested in, and more readily available information about which currencies are likely to hold steady. With that being said, that volatility is precisely what so many people find so appealing about trading cryptocurrency.

Cryptocurrency Isn’t Just About Trading

So, we all know that the popular image of cryptocurrency as something people do in shady basements is based on fantasy, and that it’s an increasingly everyday commonplace practice. With this raised awareness comes more opportunities to get involved without having to stake your entire fortune on the line.

There are games and competitions that you can play and enter to earn some free crypto, and many people make a bit of extra coin by freelancing their valuable skills. The idea that there isn’t room for a friendly community in the world of crypto is increasingly unbelievable, and you can find out more about how to find free cryptocurrency by checking out the blogs and resources at Traders of Crypto.

Cryptocurrency Is Getting More Widely Used

If you look up any history of cryptocurrency and Bitcoin, you’ll find the story about the first time a Subway restaurant accepted Bitcoin as payment. Now, it’s getting more and more common to find stores that will accept it, and Morgan Stanley recently made the news by being the first US bank to allow its high rollers to access funds using bitcoin. But it’s not just about the 1%.

The last year saw people all over the world do more and more of their shopping online as we all locked down and avoided going out to shop. Well, for small businesses who are trying to keep themselves afloat, trading in bitcoin means that you don’t have to pay any service charges that can really cut into your profit margins. Expect that to see a lot more of that in the years to come.

Whether you’re making a video for your Youtube channel or putting one up for your landing page, you need an intro video to introduce your brand. An intro clip plays for 5 to 15 seconds at the start of your video production. Its job assures that the audience knows your brand name and character. Though this snippet is super short, it possesses the power to grab your audience’s attention. When you do this right, you can make a great impression on the viewers, allowing them to feel interested in watching your whole video from start to finish. Moreover, you can even entice your audience to take a peek at your other video productions. By using a Youtube Intro Maker or other video editing software, you can create a stunning introductory clip without leaving the viewers breathless in anticipation.

Fortunately, many digital companies allow you to use their editing tools without breaking the bank. Most will allow you to use a basic intro maker free of charge. However, some companies enforce that you put their watermark on your videos. Hence, this may confuse your audience as it serves as a distraction. Be aware of this component so you can select a watermark-free intro maker or pay the premium price. Either way, this tool allows you to customize clips without getting a headache. Because of its easy user interface, even newbies can make an intro clip. You can dispense with hiring a video-graphic editor or paying for expensive software. If you don’t know where to start, take a look at these easy steps:

Step 1: Choose the Right Tool 

The very first step to creating an intro clip is choosing the right intro maker. This digital solution makes your life easy as it allows you to edit on a laptop, desktop, smartphone, or tablet. Talk about convenience! Intro videos live up to their name because they introduce your brand. Thus, choosing the right tool matters as it gives you varying specs. Though, in general, most editors possess similar features, such as:

• Easy drag and drop function
• Seamless toolbar
• Wide range of effects and transitions
• Extensive library of graphics and video clips
• Funky font or typography collection
• A broad range of free music
• Animation options

Step 2: Set Up an Account on YouTube Intro Maker

After choosing the tool, create an account. Depending on your selected software, you can work online via a cloud platform or download it into your device. Usually, you need to give your email address and verify your account. And finally, you can use the intro maker and start creating your masterpiece that greatly impacts your viewers. 

Step 3: Select a Pre-Designed Template

You can make an intro video seamlessly with the help of pre-designed templates. All intro makers offer these awesome layouts. You will find them useful as they serve as blueprints that guide your project. Moreover, with this feature, you can pick any theme that suits your brand. After a few flicks of a finger, you complete your task. It’s as easy as 1, 2, 3! Hence, it makes sense to take advantage of the following template examples:

• Techy review
• Vibrant feature 
• Modern minimalist
• Vintage wonder
• Retro vibe
• Old school edition

Step 4: Personalize Details 

Make an intro video that’s entirely your own by customizing details. Even if you use a template, you can personalize your video by adding your logo or modifying colors to follow your company’s signature ones with YouTube intro maker. Furthermore, even if it’s your first time making a video, you can do it with aplomb and pizzazz because effects and transitions can be added with a click of the mouse. For example, you can try out different ensembles and preview them till you get the right one. With an intro maker tool, you can swiftly add words, animation, effects, and other details. Above all, this digital solution assures you can finish the complex task of making an intro without overeating time and effort. 

Step 5: Incorporate Different Layers 

With a seamless dashboard, you can readily add different layers to your clips. You can pick from your YouTube intro maker’s library or upload one of your own. Consequently, having this choice gives you total freedom to do what you want. You can incorporate stock photos, add video clips, or inject sound effects or music. Moreover, a digital tool gives you access to the following:

• Seamless dashboard
• Shutter shock images 
• Getty Images
• Video clips 
• Music tracks
• Sound effects

Step 6: Conduct a Preview and Final Edit 

The last few steps include previewing and editing your work to check for errors. Firstly, evaluate your video clip thoroughly as it represents your brand. Secondly, make sure every detail in the clip upholds your brand’s mission and vision. Most of all, keep an eye out for the following: 

• Check for spelling error
• Keep an eye out for seamless transitions
• Assess if the images or clips match the music track
• See if you can incorporate sound bytes
• Evaluate the overall quality
• Ensure that every detail of your brand is correct

Step 7: Download and Distribute

The last step is to download the final product and put it in every video. You can also place it in front of your lengthy video for immediate distribution on your chosen social media platforms. With this clip, you can easily incorporate it in all your videos to assure continuity in your channel. When you use a YouTube intro maker, you will feel very proud to share your work with the world. Thus, with a professional and pristine-looking introductory video, you will get so much attention from your social media friends, followers, and maybe even public viewers. 

Final Wrap Up

Nurture your leads and prospects with a fantastic intro that spells out what benefits your company can provide. With a cool introduction, you can keep your audience’s eyes glued to your channel. Make it the best video ever, and let your personality shine. If you want to engage your viewers, you need to appeal to all their senses successfully. Thankfully, YouTube intro makers have everything you need to create stunning intros that convert. With this tool, you can possess a distinct edge over your fiercest competitors. Watch how a cool intro allows you to expand your brand’s reach and increase your company’s bottom line.

If you’ve been looking to invest in gold, silver, or cryptocurrency, there is a platform that can assist you with all three. That platform is called goldexchange.com, and this post will be a review of its features and offerings.

What is Gold Exchange?

Gold Exchange is a cryptocurrency exchange that manages stablecoins. It’s the largest platform of its type and allows users to invest in gold and silver at an easier rate than buying it physically.

This is done via the aforementioned stablecoins – cryptoassets tied to the value of a physical asset. This platform specifically offers gold and silver-backed coins, which is how they allow users to invest in physical bullion.

Otherwise, the exchange is a secure place to make these investments. The team behind the project has 20 years of experience working in the trading scene, and now they’re bringing that knowledge to crypto.

How Does Gold Exchange Help me Invest Easier?

Investors face a lot of challenges when trying to invest in gold and silver the traditional way. For one, they have to reveal their identities to a broker. They must pay a premium for investing this way and deal with handling the bullion. Worst of all, physical bullion must be stored, which costs even more money.

All of these hoops can be offputting to a new investor looking to get involved with precious metals. This is where Gold Exchange comes in.

This platform’s offering allows users to invest in gold and silver without hassle. Investors simply need to sign up with the platform and buy assets with their debit or credit card. They’ll acquire these assets almost instantly and can store them in a secure wallet provided by the platform.

By buying this way, investors can preserve their anonymity. There are no know-your-customer (KYC) or anti-money-laundering (AML) policies here. The platform is secure enough to not have to worry about that.

Also, if you’re a new investor without much to spend, this is the only way to invest in fractional amounts of gold and silver. With Gold Exchange, you can purchase, say, 0.005% of an ounce of gold. Of course, you can add to that investment later on as you wish.

The goal here is to increase accessibility within the crypto and physical asset space.

Alongside buying and selling, you can trade these assets on the platform as well. The exchange offers profit and stop loss features to automate your purchasing. That way, if an asset ever falls hard, you can set the platform to automatically sell before you lose money. There are also buy stops and buy limits you can implement as well.

What’s the Difference Between Gold Exchange and a Traditional Crypto Exchange?

A traditional cryptocurrency exchange lists anywhere from a few dozen to a few hundred crypto assets. They require users to sign up while revealing their identity and are often limited in terms of payment options.

That and these platforms are a bigger target than most for hackers due to their wide asset variety. If you’re a newer crypto investor or only want to worry about gold and silver, these platforms might overwhelm you.

Of course, if you’re looking to invest in the volatile nature of Bitcoin and other cryptos, a traditional exchange will be better for you. Otherwise, Gold Exchange is the best option for you – especially if you’re new to the world of precious metals.

Overall, the platform is a solid entry into the stablecoin space. It offers a secure way to get involved in both crypto and precious metals and makes the signup process a breeze.

The world of digital currencies has gained a lot of popularity over the past couple of years. With the global market cap of cryptocurrency reaching $1 Trillion, investments have been raining over the crypto market, and the crypto space is getting quite intense. Powerful minds from all across the globe, have not only supported cryptocurrencies but also, have actively invested in the market. People like Elon Musk and Bill Gates have often made headlines while showing their support for the world of digital currencies. And this is a clear sign that this industry is here to stay. All over the world, several cryptocurrencies are used as payment methods on various platforms. However, before we get into that, let us first understand cryptocurrencies on a brief note. 

What are Cryptocurrencies?

A cryptocurrency is a digital or virtual currency that works on cryptography. And this makes it nearly impossible to forge or double-spend. Many digital currencies are based on blockchain technology. Bitcoin was the first-ever cryptocurrency to be introduced in the market, and today it dominates almost 70% of the crypto market at the time of writing. 

Apart from Bitcoin, there are several other cryptocurrencies, and they are referred to as Altcoins. Ethereum and Ripple are the top altcoins in the crypto space. Ripple is technically not the name of the cryptocurrency. It is the company that is behind the cryptocurrency XRP. Ripple is a digital payment network for financial transactions. Ripple’s XRP is one of the top cryptocurrencies today in the market. It was the 3rd largest cryptocurrency in the market for a long time and only recently came down to the 4th rank. Another interesting fact about Ripple is that it uses a consensus mechanism through a group of servers to confirm any transactions.

How safe is Ripple’s XRP when it comes to payments?

One of the most remarkable features of XRP is that it acts as a bridge currency for other currencies. It knows no discrimination between fiat or cryptocurrencies and others and makes it quite easy to exchange from one currency to the other. When Ripple launched XRP in 2012, they said that it is a faster and much cheaper alternative to Bitcoin as it can conduct more transactions than Bitcoin within seconds. This is because its algorithm is not based on the proof of work mechanism. Ripple’s XRP can be sent from one digital wallet to the other, and international borders do not stand as a hurdle in between. In fact, it is forced on cross-border transfers between institutions. There are several websites where you can learn about Ripple and how it works. 

One such platform is- https://smartcasinoguide.com/xrp-ripple-casino/

XRP enables entrepreneurs and institutions to accept and send payments across any network irrespective of the geographical location. Ever since it came to the market, XRP has shown its bullish nature. Such has been its popularity that there have been several rounds of debate in the crypto space about XRP reaching the $100 mark very soon. This hope on XRP comes after it has shown trustworthiness on its protocol over the years. And with the acquisition talks of MoneyGram and Western Union joining hands, many traders are rooting for XRP. This is because, if this deal ever happens, then it will be a huge advantage for Ripple’s XRP as Ripple Labs are already in deep relation with the MoneyGram. This will make it quite easy for XRP to reach $100. 

On the other hand, there are debates against it, that says $100 for XRP cryptocurrency means its market cap overtaking the entire market cap of mega-companies like Alphabet and Google. And this will be hard to believe as Ripple’s XRP is not so popular when it comes to comparison with them. 

Bottomline

$100 or not, XRP is one of the top cryptocurrency in the market today and is expected to stay so. There is no mining involved in the transactions, and hence it can facilitate faster transactions. There are validators to verify each transaction. And these validators are trusted by Ripple. This trust comes from XRP’s design to prevent double-spending. 

Even though Ripple is facing several lawsuits presently from the SEC, it is expected to fight back. And to quote the CEO of Ripple Brad Garlinghouse, “We are not only on the right side of the law, but we will be on the right side of the history.”