Coinbase Rejection Sees Ripple Drop 20% As Rumors Evaporate

Gladys Abbott
January 7, 2018

One Ripple token is worth $3.25 (£2.40) - which equates to 0.00020147 BTC. It goes without saying that now is probably a good time to invest in Ripple, while it's still relatively affordable, but that - unlike Bitcoin - you'll probably need a whole bunch of them for it to really pay off. It is now the second-largest cryptocurrency behind bitcoin, with a market cap of more than $120 billion. Ripple is also centralized, created by its namesake company as a.Bitcoin, on the other hand, is almost completely unregulated.

If Person A has one currency to buy goods with and Person B sells goods, but operates in a different currency, then for Person A to buy from Person B, their currency will need to be exchanged into something more commonly used, such as United States dollars. Ripple is up more than 34,700 percent this year.

And, again unlike bitcoin, there is no energy-intensive "mining" involved in Ripple's creation.

Bitcoin and Ripple both operate using blockchain technology, whereby every transaction is held on a public ledger, called the blockchain. But while Bitcoin is the dominant cryptocurrency, there are others snapping at its heels and one has nearly caught up. Forbes reports that Larsen personally owns 5.19 billion XRP and if we translate that value to dollar equivalent we get a whopping $55.8 billion making him the eighth-wealthiest person in the world - at least on paper.

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Ripple is not meant to be used to buy goods, as bitcoin is.

What do you think about Coinbase's decision not to add Ripple?

Following the addition of Bitcoin Cash to Coinbase last month, the crypto market was rife with rumors that a new coin - most likely Ripple's XRP - was due to be added to the exchange. "Whether this is able to last longer-term, however, does still remain to be seen".

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