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Bitcoin Exchange Guide’s Most Important Negative Moments of Cryptocurrencies During 2018

The cryptocurrency market did not have a good year in terms of price performance. The drop can be also related to several issues that hit the market during the last 12 months. For example, back in January, the Japanese cryptocurrency exchange Coincheck was hacked. This attack resulted in the loss of 523 million NEM tokens (XEM), close to $500 million at that time. This situation has severely affected the market and marked an inflexion point in the regulatory environment in Japan. This situation showed the risks associated with having virtual currencies stored in an online platform. The best advice is to store virtual currencies in a cold wallet without being connected to the internet. Although the exchange gave back users’ funds, the effects on the space and on NEM were noticeable. Now, the exchange is operating once again. There is another exchange that was hacked for about $195 million. BitGrail is an Italian exchange that has been targeted by a group of hackers that stole 17 million XRB (currently NANO). Japan has since then improved its regulatory environment. It has created new regulations for exchanges and every crypto company that wants to operate in the market must be previously approved by the government. Another issue that has affected the credibility of some projects was the scandal around the TRON white paper. The TRON white paper has been accused of being copied from many other projects. .@justinsuntron why does your TRON whitepaper make wholesale copying of @IPFSbot and @MineFilecoin without a single reference? Bitswap, PoRep, PoSt, these are not your ideas? — Bedeho (@bedehomender) January 7, 2018 Justin Sun, the founder of the TRON Foundation, said at that moment that this could be related to the fact that they did not have an office in San Francisco to work on this. Furthermore, he provided the latest Chinese version of the whitepaper. Another thing that the market experienced this year was a bear trend that affected the price of most virtual currencies in the space. Since Bitcoin reached $20,000 at the end of 2017, it has dropped during different periods of times, Bitcoin fell under $7,000 back in February for the first time in 2018. During the next monhts, it reached $6,000 but tried to recover on different occasions. However, it fell under $6,000 in November and it reached the lowest point in more than one year when it was traded under $3,300. Nouriel Roubini, the economics professor that is known for predicting the global financial crisis in 2008 has been a very present figure this year in the space. Since the very beginning, it has attacked virtual currencies, Bitcoin (BTC) and experts in the field. He was present at a hearing organized by the U.S. Senate Committee on Banking, Housing and Urban Affairs back in October. At the event, he attacked Peter Van Valkenburgh, research director at Coin Center, and has also been very hard against virtual currencies. For example, he said that no one uses Bitcoin more than criminals and terrorists. Additionally, he had a public discussion with Vitalik Buterin, the co-founder of Ethereum. He mentioned that Buterin is a scammer and that he stole 75% of all the Ether available. However, Buterin explained that he did not have this amount of money. 99% of crypto land is one shitcoin traded for another shitcoin. And the average shitcoin lost 90% or more of its value in the last year. So Crypto Land is Crap Land, a cesspool of lunatics with severe Freudian scatological obsessions that swim 24/7 in their own stinking shit. — Nouriel Roubini (@Nouriel) October 11, 2018 One of the most harmful things that affected the whole ecosystem during 2018 was the hash war between Bitcoin ABC and Bitcoin SV. On November 15, Bitcoin Cash (BCH) was going to experience a network upgrade. However, the community was divided on how the network should be prepared to scale. This is why Bitcoin SV and Bitcoin ABC supporters decided to start a hash war. Bitcoin SV (BSV) supporters were nChain’s Craig Right and CoinGeek’s Calvin Ayre. Those opposed to Bitcoin SV and supporters of the Bitcoin ABC proposal were Bitmain’s Jihan Wu and Bitcoin.com CEO Roger Ver. Just a few hours before this network upgrade, the market dropped to the lowest point in more than a year. Indeed, Bitcoin dell down to $3,300 after this conflict in the network. Due to Bitcoin’s price decrease, the network has also lost part of its hash rate. Bitcoin’s hash rate lost around 50% since its all-time high in August. During this hash ware, Bitcoin SV miners were not able to dominate the chain. In the end, they decided to split from the Bitcoin Cash network and create their own coin (BSV). The market has experienced very negative things this year, and these were the most important ones. However, there are many important things that are worth mentioning. Bitcoin has experienced a genuine growth in terms of development. Other virtual currencies had also experienced a positive year taking into account their developments.
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Bitcoin Exchange Guide’s Top 2019 Cryptocurrency Trends to Look for with High Expectations

After a bearish 2018 which has brought huge losses to the crypto industry, investors around the world are looking forward to 2019 and new changes that will arrive with it. Many believe that the next year will be the one when cryptos will finally take over and go mainstream. While this is unlikely to happen so soon, as there are many obstacles along the way, it might be a year when the process will actually start. Even so, many are hesitant to make particularly bullish price predictions, as the crypto market remains volatile and unpredictable. However, there are still numerous new trends that might arrive, which is something that many are looking forward to. 1. The Role Of Stablecoins Might Change Around a year ago, cryptocurrencies were at their peak, and most of them hit new heights in terms of value and market cap. New investors flooded the space, and the money flow was massive. At the time, no one had any reason to believe that the trend will stop in 2018, and that changes in the new year will be so drastic. However, one trend that took off is the popularity of stablecoins. In the highly-volatile market that impacts the prices in the most unpredictable ways, having at least some sort of stability can mean a huge difference. This is exactly what dollar-pegged coins brought, which is why many of them became quite popular. No matter how investors feel about them, stablecoins became a big force in the crypto space in 2018. It is currently unclear what might happen to them in 2019, as the crypto market still evolves, and new changes can be expected on every turn. If the bear market continues in the next year, stablecoins will remain useful and popular. On the other hand, if positive changes arrive, the resulting impact might make them obsolete. 2. The Evolution Of Privacy Protocols Online privacy was always one of the most important aspects of the internet, and the same is true for digital currencies. After Bitcoin turned out to be not as private as everyone believed it to be, a lot of new privacy protocols entered the development. However, this is yet another aspect of the crypto space that has yet to mature and fully develop, and many believe that Mimblewimble-powered Grin and Beam could bring all the necessary privacy that crypto holders might want. Naturally, a single privacy protocol will not change the entire crypto space. However, it will be a big milestone in an attempt to fight back against blockchain surveillance that started to take place. Furthermore, Bitcoin Core is expected to get Schnorr signatures in the following year, which might bring additional privacy technology, such as Coinjoin. Similar efforts are being made to make the Ethereum network more private, and numerous pro-private projects, protocols, and platforms are already in the making. 3. 2019: The Year Of Security Tokens? ICO was a trend that really took off in 2017, and while many new startups saw potential in it, it soon grew out of control, and countless issues emerged. In 2018, however, things took a turn for the worse, and it can be said without any doubt that this year killed ICOs entirely. While the crypto community still speculates about the ICO era, it is unlikely that anyone will try to bring it back ever again. Even if they tried, it would likely result in a failure, as everyone has learned just how many pitfalls lie along that way. Back in early 2018, everyone expected this year to be the one where security tokens will blow up and start dominating the space. As we now know, this prediction never came to be. However, it is still possible that it was simply too early for it to happen, and that it might arrive at some point in 2019. Of course, there is still no guarantee, as there are countless technical issues to be taken care of first. Even if that happens, there are still regulations that need to arrive in order to properly stabilize the space. It is important to remind ourselves that cryptocurrencies are still very much new and that it has been only a decade since they even came to be. While many are ready for a change, the shift to digital money is an extremely massive one, and it will require time. Even so, analysts believe that security tokens and STOs will eventually become the standard model for deploying crypto projects of the future. 4. The Rise Of Decentralized Credit Networks Decentralized credit networks brought a lot of new changes when it comes to infrastructure development. Things such as social credit, collateralized loans, open finance, and alike did not only receive tools necessary for them to become possible, but the entire concept was confirmed to work. Now that this milestone was reached, 2019 is expected to be the year when the trend will take off. Finally, billions of unbanked and underbanked people around the world will be able to gain access to this sort of services, with numerous new projects appearing throughout the year. Some projects that were already launched in 2018 managed to prove their value even under this year's conditions, which were more than unfriendly for a new type of service based on crypto. Not only that, but they will likely expand on the number of coins they will accept, and even go beyond, to include non-crypto assets. 5. Mass Adoption Of dApps Decentralized applications were a part of the crypto world ever since Ethereum was launched. Since then, many other projects appeared, dedicated to application development instead of just offering a digital currency. However, the lack of any real killer apps prevented dApps from going mainstream, in addition to other issues that the crypto space has had to face. This might change in 2019, and even if one or more dApps finally get to experience mass adoption, it will be a big victory for the crypto and blockchain space. Of course, this may be nothing but wishful thinking at the moment, with many experts claiming that it will be at least a few more years before a blockchain-based game goes viral. New investments might arrive due to things such as crypto collectibles, or perhaps VR projects. One such project, called Decentraland, is expected to see its official launch in 2019. When it does finally see the light of day, it will offer an entire virtual world based on blockchain technology, which might become a meeting ground for crypto gamers, as well as other projects. 6. Solving The Scaling Problem Scalability issues were always one of Bitcoin's greatest problems, as the coin can only handle a few of them at once. Over the years, developers came up with a number of different solutions for this issue, most of which eventually turned out to be inefficient. However, one project still shows promise to this day, which is the Lightning Network. Simply put, the project will add an additional layer to Bitcoin blockchain, which will provide an unlimited number of unrecorded transactions between individuals who are in need of a quick way to trade. Only after the last trade is performed will tunnels that connect the two parties be closed, and the final state of things will be recorded on the blockchain, massively reducing the number of transactions that need validation. This way, Bitcoin will drop one of the largest problems that it had since the day it was launched. 7. The Year When Institutions Will Go Crypto Attracting institutional investors to the crypto space has proved to be quite a challenge, and the main issue was to resolve problems that are making the crypto world unsafe for business. These problems include high volatility, the lack of regulations, price manipulation, potential asset theft, not to mention the fact that the space is still new, and institutional investors will first have to explore the space and learn how to use it. However, a number of projects dedicated to providing additional options are currently in the works, including the Bakkt exchange, Bitcoin ETFs, custodial services, and more. The launch of these projects will provide institutions with terms of trading they are already familiar with, and it will create a safer environment which will provide an easy transmission. As mentioned, cryptocurrencies will still need years to completely take over, but the first step may yet be made in 2019, which is less than a week away.
Bitcoin Exchange Guide

Bitcoin Exchange Guide Recounts the Major Crypto Market Events of 2018

After 2017 ended in a price surge that brought huge profits to anyone even remotely invested into crypto, many were expecting that 2018 will be the same, or maybe even better. However, the year has been dominated by bearish markets, huge losses, headlines regarding hacking attacks, crypto regulations, and news of highly-anticipated projects being postponed. Now, in the final days of 2018, let's take a look back and see what marked the year of 2018 in terms of crypto, and what impact these events had on the emerging digital currency space. Billions Of Dollars Lost Right At The Start While 2017 was the year when crypto trend grew, and prices mirrored this effect, 2018 was the total opposite in terms of value. The first days of the year have seen the last remnants of growth, and Bitcoin even managed to exceed $20,000 per coin. Soon enough, however, the market crashed, and this price now seems like nothing more than a distant memory. The top 10 coins lost a lot of their value in following months, with the total crypto market cap dropping by around $600 billion in the first half of the year. After seemingly reaching stability that lasted for a few months, the market crashed again in mid-November, and they continued dropping until mid-December, where a slight surge that lasted one week brought what might be delicate stability. South Korea Regulating Crypto Space Another consequence of a successful 2017 was the increase in exposure for crypto. With thousands of new investors flooding the space, countries around the world concluded that it is time to start seriously considering crypto regulations. While numerous governments around the world started working on the issue, it appears that South Korea may be the most successful in bringing these concepts to reality. January 2018 was dominated by headlines of price decline and South Korean court decisions which finally gifted Bitcoin with an official economic value. The country did more than that, however, and they introduced a cryptocurrency account system which also banned the anonymous trading of digital assets. Hacking Attacks Hit Numerous Exchanges Despite positive development in South Korea, this is not the only Asian country that has made crypto-related headlines. Japan was also mentioned quite often, especially due to hacking attacks that hit its crypto exchanges. Coincheck was the first on hackers' hit list, and after being compromised, it lost anywhere from $400-534 million worth of NEM. The attack occurred on January 26, and it marked yet another historic exchange hack. However, the loss did not have as large an effect as it was expected. Then, in April, another large attack took place, this time targeting the wallet belonging to an Indian crypto exchange, Coinsecure. The breach resulted in a theft of around $2.7 million in BTC. The exchange blamed CSO Amitabh Saxena, stating that it had a role in this incident. Finally, in September, Indian law enforcers decided to make a move and file charges against several suspects, claiming that the crime was helped by an insider. ICOs Failing Due To Unfriendly Conditions With crypto boom happening in late 2017, a lot of new projects ended up being conceived, and numerous startups hoped to use the trend and investors' willingness to invest in any coins they can find for gathering funds. However, as soon as 2018 kicked off, these projects started seeing a lot of trouble. Not only did the prices decline and the massive cash flow suddenly decreased, but agencies like the US SEC and CFTC cracked down on ICO as well. These agencies had numerous busts on various projects, many of which received cease and desist orders. As soon as in February 2018, reports about failed projects started arriving, one of which claimed that around 47% of ICOs that started in 2017 already failed. The crackdowns continued throughout the year, and they started occurring in the entire world. Even some celebrities that got involved in ICOs ended up paying for it, even if they only promoted these projects. Venezuela's Petro Venezuela's struggling economy is already well-known around the world, and due to harsh conditions, the country's government decided to introduce the first state-backed crypto this year. The coin is called Petro, and it was launched in February 2018. To this day, no one is actually sure if the project works, however, Nicolas Maduro, the country's president, has pointed out advantages of going crypto numerous times. In November 2018, Petro's price was nearly tripled, while the Ministry of Communication and Information came up with a law that allows the currency to be used for commercial transactions. The decision to “toy around” with a so-called multi-asset backed crypto while the entire country is struggling was criticized by many, but the project still remains alive, although the effects have yet to be seen. The Bitcoin ETF Dilemma Despite the massive drop in value, the crypto space did attract a lot of attention, and institutional investors finally became interested. Crypto supporters were waiting for months to see whether or not the US SEC will approve Bitcoin ETF applications, which the regulator continuously delayed. In July 2018, one such application was filed by the CBOE, in cooperation with Vaneck and SolidX. This application was believed to have a chance with the SEC, and that it will not be rejected like all the others. However, as mentioned, the SEC continued to postpone the decision, and the date eventually got pushed further into 2019. The same happened with the Bakkt exchange project, which is expected to bring daily futures contracts. The trading was originally supposed to start in December 2018, but it got postponed and is currently expected to arrive in late January. Bitcoin Cash Hard Fork Finally, one of the largest impacts of the crypto market came in mid-November, after Bitcoin Cash had its second hard fork. The first one was performed successfully in the spring of 2018, and it brought numerous new features which brought a lot of additional development to the project. The second one, however, resulted in a blockchain split and the creation of a new coin — Bitcoin SV. The split was caused due to disagreement within the BCH community regarding the BCH update, and the two coins are currently steadily moving away from the event. What Does The Future Hold For Crypto? 2018 was definitely an eventful year for crypto, despite many difficulties that the entire crypto space had to go through. Many believe that the next year will be a prosperous one, and maybe even the first of many that are about to arrive. Many interesting events with potentially significant consequences are expected in 2019, including Bitcoin ETF approval, the launch of Bakkt, and continuation of projects' development. While no one can predict what will actually happen regarding any of these or other projects, investors still remain hopeful.
Bitcoin Exchange Guide

Bitcoin Exchange Guide’s Top 15 Cryptocurrency News Headlines For Today [VIDEO]

Stellar's Lightyear Acquires Visa and Citi-Backed Crypto Startup Chain Stellar's Lightyear Acquires Visa and Citi-Backed Crypto Startup Chain C-CEX Crypto Exchange Experiences Hack, Loses All DOGE and LTC Funds C-CEX Crypto Exchange Experiences Hack, Loses All DOGE and LTC Funds KuCoin Invests $3 Million AUD Into Bitcoin Australia Exchange For Global Growth KuCoin Invests $3 Million AUD Into Bitcoin Australia Exchange For Global Growth Stealthy Blockchain Messaging App By Blockstack To Create WeChat Of dApps Stealthy Blockchain Messaging App By Blockstack To Create WeChat Of dApps Australia's NSW And Secure Logic To Use TrustGrid Blockchain Network For Driver License Credentials Australia's NSW And Secure Logic To Use TrustGrid Blockchain Network For Driver License Credentials 0x Project and Harbor Compliance Platform Partner For New Security Token Standard 0x Project and Harbor Compliance Platform Partner For New Security Token Standard Paxos Gets NY Regulatory Backing For “Paxos Standard” Stablecoin, a USD-based Crypto Token Paxos Gets NY Regulatory Backing For “Paxos Standard” Stablecoin, a USD-based Crypto Token Mastodon Review: The Crypto-Friendly Decentralized Social Network Mastodon Review: The Crypto-Friendly Decentralized Social Network Roger Ver, Bobby Lee Debate Which Bitcoin is Closest to Satoshi's Whitepaper and BCH Wins Roger Ver, Bobby Lee Debate Which Bitcoin is Closest to Satoshi's Whitepaper and BCH Wins Native Crypto Exchanges Tokens are Experiencing Three Month Lows Native Crypto Exchanges Tokens are Experiencing Three Month Lows Bitcoin Tests $6,000 Support Level 6 Times in Past 3 Months, Crypto Markets Appear to Have Found Bottom Bitcoin Tests $6,000 Support Level 6 Times in Past 3 Months, Crypto Markets Appear to Have Found Bottom European Commission VP: “We see that Crypto Assets Are Here To Stay” European Commission VP: “We see that Crypto Assets Are Here To Stay” Crypto Investors Could Benefit from Tax Cuts on Capital Gains from Boris Johnson Crypto Investors Could Benefit from Tax Cuts on Capital Gains from Boris Johnson CryptoFortunes War Games Paid Research For Privately Funded Token For Gaming Leaks CryptoFortunes War Games Paid Research For Privately Funded Token For Gaming Leaks Charlie Lee of Litecoin (LTC) Criticizes Ethereum Blockchain's Immutability Charlie Lee of Litecoin (LTC) Criticizes Ethereum Blockchain's Immutability Ex-Hedge Fund Manager and Crypto Trader Affirms Goldman Sachs is Manipulating the Market Ex-Hedge Fund Manager and Crypto Trader Affirms Goldman Sachs is Manipulating the Market WeChat Crypto Ban is in Full Effect as Bitmain and Delphy See Censorship on Messaging App WeChat Crypto Ban is in Full Effect as Bitmain and Delphy See Censorship on Messaging App Meet Winklevoss Twins' Newest Innovation: “Gemini Dollar” (GUSD) Stablecoin Meet Winklevoss Twins' Newest Innovation: “Gemini Dollar” (GUSD) Stablecoin Spotlight Seeker Nouriel Roubini Bashes Ethereum dApps' Ecosystem for Inactivity and Scams Spotlight Seeker Nouriel Roubini Bashes Ethereum dApps' Ecosystem for Inactivity and Scams Why the SEC is Investigating Bitcoin and Ether Exchange-Traded Investment Products Why the SEC is Investigating Bitcoin and Ether Exchange-Traded Investment Products
Bitcoin Exchange Guide

Bitcoin Exchange Guide’s Crypto News For September 8: What Happened in the Blockchain World?

Here's part one to what happened in the blockchain world today! Make sure you check out all of Bitcoin Exchange Guide's video news reviews each and every day. Thomas Lee of Fundstrat Reveals “Alt-coin Correction Index” with Sell-off History Thomas Lee of Fundstrat Reveals “Alt-coin Correction Index” with Sell-off History Satoshi Nakamoto Grand Reveal Party On or Before January 1, 2020: Will a Bitcoin (BTC or BCH) Swap Happen? Satoshi Nakamoto Grand Reveal Party On or Before January 1, 2020: Will a Bitcoin (BTC or BCH) Swap Happen? Blockchain Department at Facebook is Expanding with Sixth Public Position Hiring Blockchain Department at Facebook is Expanding with Sixth Public Position Hiring “Wall Street Won’t Save Bitcoin” .. but does “Crypto” Need Wall Street's Financial Saving? “Wall Street Won’t Save Bitcoin” .. but does “Crypto” Need Wall Street's Financial Saving? Liquid by Quoine Launches as New Crypto Trading Platform for “Liquidity” Liquid by Quoine Launches as New Crypto Trading Platform for “Liquidity” Ripple CEO Weighs in on XRP Coin Being a Security Issue at Techcrunch's Disrupt Event Ripple CEO Weighs in on XRP Coin Being a Security Issue at Techcrunch's Disrupt Event Michael Arrington Drops F-Bomb to SEC in Bold Retort about Crypto Hodlbacks Michael Arrington Drops F-Bomb to SEC in Bold Retort about Crypto Hodlbacks MSN Bitcoin Fud Shares How Much Money You’ve Lost If you Bought Crypto At The Top Of The Bubble MSN Bitcoin Fud Shares How Much Money You’ve Lost If you Bought Crypto At The Top Of The Bubble OKCoin Digital Asset Trading Platform Expands to the United States OKCoin Digital Asset Trading Platform Expands to the United States General Counsel at Ripple Untimely Exits Remittance Payment Blockchain Company General Counsel at Ripple Untimely Exits Remittance Payment Blockchain Company CoinJar Trading Exchange In Australia Lists Zcash (ZEC) Cryptocurrency CoinJar Trading Exchange In Australia Lists Zcash (ZEC) Cryptocurrency MicroBarBox.com Accepts Bitcoin Cash Payments For Gift Box Delivery Service MicroBarBox.com Accepts Bitcoin Cash Payments For Gift Box Delivery Service Coinspectator Opens Real-Time Cryptocurrency News Aggregator Coinspectator Opens Real-Time Cryptocurrency News Aggregator Abra Crypto Wallet Joins Forces With Coinify To Expand European Market Services Abra Crypto Wallet Joins Forces With Coinify To Expand European Market Services Cloudbric To Use Hacken Bug Bounty And White Hat Crypto Security Platform Cloudbric To Use Hacken Bug Bounty And White Hat Crypto Security Platform CINDX Crypto Asset Manager For Traders Launches Security Token ICO CINDX Crypto Asset Manager For Traders Launches Security Token ICO ConsenSys And Coursera Partner To Offer Blockchain Technology Course ConsenSys And Coursera Partner To Offer Blockchain Technology Course Spitball 2.0 Opens Blockchain Education Market With Tokenized Student Economy Spitball 2.0 Opens Blockchain Education Market With Tokenized Student Economy Ethereum (ETH) Developers Actively Looking For Beacon Chain ASICs Ethereum (ETH) Developers Actively Looking For Beacon Chain ASICs COSIMO X Opens Blockchain Tokenized VC Fund For VR/AR, IoT And AI COSIMO X Opens Blockchain Tokenized VC Fund For VR/AR, IoT And AI
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Bitcoin Exchange Guide Authors, Editors & Publishers Team

The grand reveal of the BitcoinExchangeGuide.com daily news team. A quick skim and virtual survey of us and you will see we are a mixed bag of heavy handed writers, authors, editors, publishers and overall Bitcoin enthusiasts who strive for greatness when it comes to cryptocurrency-based content creation, generation and curation. As it stands today, our mission is to research, review and report more bitcoin and blockchain related content than any other website on the Internet and have been doing so this entire year and last year's historic run. This has not been easy an feat to accomplish. We have many more mountains to move in order to get to the level of cryptocurrency culture we want to achieve within this blossoming and beautifully designed ecosystem under the Bitcoin umbrella. Please reach out to get in touch with any author here at Bitcoin Exchange Guide. They will gladly connect with you for any questions, followups or interviews. If you are interested and involved in cryptocurrencies and would enjoy writing about them and getting paid to generate content, please feel free to reach out as well as we are always looking to expand as we continue our rise and ascension up the ladder of most active cryptocurrency communities in the world.
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XRP Spikes 10% on Ripple MoneyGram Partnership News

Big partnership announcements have been thin on the ground for many of the major crypto companies recently. That changed for Ripple a few hours ago when the firm announced a strategic partnership with one of the world’s largest money transfer companies, MoneyGram. XRP Climbs 15% in a Week Compared to bitcoin and litecoin, XRP has been asleep for the past two months. Even Ethereum has outperformed it in terms of percentage gains. That all changed a few hours ago when XRP awoke from its range bound channel at $0.42 and surged almost 10% to hit an intraday high just over $0.46. A minor pullback followed in the hours after the announcement but XRP is still one of the day’s top performers. XRP price 1 hour candles – Tradingview.com XRP 00 has climbed almost 15% over the past week as it was trading just under $0.40 this time last Tuesday. Daily volume has just topped $2 billion as XRP market capitalization approaches $20 billion. The gap to ETH in second place is still $10 billion in terms of market cap, however. It has been one of the best weeks for XRP in terms of gains as the Ripple token has only made 27% since the beginning of the year. Big Partnership Driving FOMO The San Francisco based firm announced the partnership on its company blog late last night. It stated that the initial partnership will last two years during which Ripple will become the key partner for MoneyGram’s cross border payments and foreign exchange settlements. A substantial capital commitment of $50 million has also been pledged by the blockchain company enabling MoneyGram to draw it over a two year period in exchange for equity. Ripple’s xRapid system will be deployed for the partnership. It facilitates on-demand liquidity enabling instant transactions by reducing reliance on pre-funding. The XRP token will be used as the ‘real-time bridge’ between different currencies. Ripple CEO, Brad Garlinghouse, stated; This strategic partnership will enable MoneyGram to greatly improve its operations and enable millions of people around the world to benefit from its improved efficiency. This is a huge milestone in helping to transform cross-border payments and I look forward to a long-term, very strategic partnership between our companies. MoneyGram has a $600 billion global remittance market supporting multiple currencies in more than 200 countries. Traditional forex markets requiring advance purchases are currently used for international transfers. The partnership and leverage of Ripple’s native token are expected to reduce costs and increase transfer speeds for the firm. Alex Holmes, MoneyGram Chairman and CEO, added; Through Ripple’s xRapid product, we will have the ability to instantly settle funds from US dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management. Will XRP hit $0.50 this week? Add your comments below. Images via Shutterstock, Tradingview.com The post XRP Spikes 10% on Ripple MoneyGram Partnership News appeared first on Bitcoinist.com.
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XRP Gains 5% as Ripple Forms Strategic Partnership with MoneyGram; Last Resorts for Both Firms?

Ripple bought a share issue from MoneyGram worth $30 million at $4.10 per share to acquire 8-10% of the company. MoneyGram would also have an option of infusing another $20 million over the next two years. A strategic partnership will now ensue where Ripple will become the critical service provider for cross-border payment and foreign exchange settlement using digital assets. The digital asset they will be leveraging is Ripple, using Ripple’s xRapid Product. This partnership is a massive step towards the vision with which Ripple began, and investors put money is XRP. Also Read: Ripple Fathers’ Day Gift Propels It Past $0.4400 as Bulls Return Until now, MoneyGram has had to use banking services to provide settlements for payments they initiate. Due to the difference in time of settling payments, MoneyGram has to take loans to increase the required liquidity. However, by deploying xRapid, they will now be able to leverage XRP’s liquidity to provide cheaper and faster settlements. MoneyGram Chairman and CEO, Alex Holmes noted, “Through Ripple’s xRapid product, we will have the ability to instantly settle funds from US dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.” MoneyGram reported a net loss of $24 million in 2018 compared to a net loss of $29.8 million for the fourth quarter of 2017. The money transmitting service provider has been working towards developing, and 2019 will be part of the roadmap. Hence, the success of this strategic partnership is crucial for MoneyGram. Also Read: Bitcoin Vs Facebook Coin: Should Bitcoin Hodlers Care About Facebook Coin? Currently, MoneyGram works independently by leveraging money from banks. Ripple CEO Brad Garlinghouse told the media,  “This will eliminate the need to deploy foreign bank accounts. That’s why MoneyGram has negative working capital. It will help customers and also smooth out their treasury operations,” XRP/USD 4-Hour Chart on Bitstamp (TradingView) Moreover, while XRP recorded gains around 5%, it rose from $0.43 to a reach high at $0.46. Notably, a partnership like this back in 2016 or 2017 would have likely propelled the price by 30%. This can be attributed to an apparent decrease in the use case for MoneyGram itself. Digital payment is quickly becoming more accessible than ever with major firms working on implementing or integrating digital currencies on their respective platforms. Facebook is the most prominent example of it. Do you think MoneyGram and Ripple will be able to increase their volume and user base in the current environment? Please share your views with us.  The post XRP Gains 5% as Ripple Forms Strategic Partnership with MoneyGram; Last Resorts for Both Firms? appeared first on Coingape.
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Ripple Partners MoneyGram to Enhance Cross-border Payments with XRP

Ripple has secured another major partnership with international money transfer company MoneyGram. This will allow the company to use Ripple’s native token XRP to provide liquidity for international payments to MoneyGram customers. This is in a bid to enhance the speed and efficiency of the payment system that MoneyGram operates. In an interview with Fortune on the partnership, Ripple CEO Brad Garlinghouse said: “This will eliminate the need to deploy foreign bank accounts. That’s why MoneyGram has negative working capital. It will help customers and also smooth out their treasury operations.” The partnership also gives Ripple an 8% to 10% stake in MoneyGram by paying $4.10 per share. This, however, does not give Ripple a voice in the dealings of MoneyGram for now as part of the agreement. MoneyGram, on the other hand, will have the opportunity of reviving its financial standing from Ripple’s investment which it direly needs after its share price crashed significantly.  It will also increase the efficiency of the payment platform, the management said. “We are very pleased with the terms of the Ripple investment which supports the Company with permanent capital and additional liquidity,” Larry Angelilli, chief financial officer of MoneyGram, said in a statement. “This partnership also provides MoneyGram with the opportunity to improve operating efficiencies and increase earnings and free cash flow,” Larry Angelilli, the chief financial officer of MoneyGram said. Ripple is the leader in remittance services as far as the blockchain industry is concerned. Its xRapid is second to none in terms of transaction efficiency and speed. With the new partnership, XRP which will be used for liquidity will be exposed to MoneyGram’s customers in over 200 countries globally. MoneyGram is the second largest provider of money transfer services in the world and while partnering with Ripple will ensure better service delivery to its customers, it is also a huge breakthrough for Ripple which has been looking to expand its reach further into the world. With hundreds of clients using Ripple’s payment platform, the company has grown significantly thus improving the international remittance settlement market by improving customer experience in conventional financial institutions. The post Ripple Partners MoneyGram to Enhance Cross-border Payments with XRP appeared first on ZyCrypto.
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Ripple (XRP) enters key partnership with MoneyGram; invests $30 million

Ripple (XRP) enters key partnership with MoneyGram; invests $30 million - CryptoNinjas MoneyGram, a global money transfer company, announced today it has entered into a strategic agreement with Ripple (XRP), the provider of enterprise blockchain solutions for cross-border payments. The deal will enable MoneyGram to utilize Ripple’s xRapid product, leveraging ripples (XRP) in foreign exchange settlement as part of MoneyGram’s global payment process With an initial term […] Ripple (XRP) enters key partnership with MoneyGram; invests $30 million - CryptoNinjas
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Ripple Announces Game-Changing Partnership With MoneyGram

By CCN Markets: Ripple announced a partnership with money transfer giant MoneyGram today. Two Year Exclusive Agreement, Ripple and MoneyGram According to Ripple Labs, a two-year partnership has been struck with MoneyGram which makes Ripple its exclusive digital assets partner. The purview of Ripple’s use case here might be more limited than expected. It depends on how many of the transactions are sent and received using Ripple’s technology and how much they’re worth. Whatever the case, the partnership doesn’t, for example, mean that you’ll be able to buy and sell XRP at any MoneyGram location. Something along those lines would The post Ripple Announces Game-Changing Partnership With MoneyGram appeared first on CCN Markets
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