Friday, December 29, 2017

Ripple - New Crypto In My Minion Crypto Portfolio

I've been eyeing to add Ripple into my minion Crypto portfolio for quite sometime but I've been procrastinating as the exchange that I am using, Coinbase haven't listed Ripple yet (hint hint). During the Christmas season period, I've made the move and open an account with Binance so that I can buy other alt-coins that are not listed in Coinbase. 

Immediately after that, I've accumulated about SGD800 worth of Ripple at SGD1.47. When I first chanced upon Ripple, I remember the price is around USD 0.40 cents (SGD 0.54). One thing for sure, crypto market movement is fast and furious and not for the faint hearted. 

Following are the reason why I bought Ripple:
1. Ripple is the first blockchain-based cross border payment solution provider (established since 2012) that has already providing (or testing) their solutions to well known corporate customers, mostly banks, in various  countries (e.g. MUFG [Mitsubishi UFJ Financial Group, Japan], Santender, Standard Chartered, SBI Remit and American Express etc..) 

2. I am of the view that there is a very high chance that Ripple (being the third largest coin in market cap, after Bitcoin and Ethereum) will be listed in Coinbase. If this happens, the demand will increase tremendously. Currently, the biggest market of Ripple is actual from South Korea (through BitThumb):
Ripple - Top 10 Exchanges (South Korea is the Top market)
Note: Generally, South Korea/India exchanges' price is much higher than the rest of the world. 

3. There are (unconfirmed) news that Ripple is in talks to two giant/well known non-bank corporate customers to provide their payment solution. If the deals went through, it will be a great boost to the use cases of Ripple. 

4. Ripple is a non-mineable coins and hence speed of transaction can be contained (reported as 4 seconds). Also, it has a limited supply of 100 billions coins. Even though it is much higher than Bitcoin's 21 millions but because Ripple target market is corporate customers/banks, the coin usage is expected to be much higher. Anyway, coins with limited supply is always a positive sign (at least to me).

Following are my minion Crypto portfolio:


How is your Crypto Portfolio doing so far?

Cheers!    

Note: This is not a recommendation of investment, investing in cryptocurrency is of high risk and make sure that you are prepared to lose all your capital! 

Exchanges that I am currently using:

 Coinbase

9 comments:

  1. Cheers, bro! Great article - I'm vested in Ripple too! I was actually going to write an article of my own. As of now, Ripple has overtaken Ethereum in market cap on CMC - it's just right below Bitcoin now.

    ReplyDelete
    Replies
    1. Creed : Thanks. You have a great and comprehensive article too. Also, you have bigger gut than me (in terms of capital invested) and let’s see how it goes in 2018 :-)

      Delete
    2. Oh, also congrats to your 100% gain overnight :-) Are you hodl or going to sell at a target price? If it’s the latter, what is the target price you have in mind ?

      Delete
  2. Loved the read , very informative.
    Been trying to use coinbase , but creating an xfers account is taking ages. Is this normal ? Its almost a month now.
    Your feedback will be helpful.

    Thanks
    Pravin

    ReplyDelete
    Replies
    1. Praveen : Thanks for dropping by. Recently, both Coinbase and Xfers are experiencing tremendous volume of new applications/transactions. So it is expected slower response in both platforms. For Xfers, they have intentionally stop some feature like top-ups recently so that they have more time to resolve the scalability issue, I think they are slowly opening up the features and hopefully will have a faster response from early 2018.

      As I gotten my Coinbase and Xfers accounts quite awhile back, so far no issue for me.

      Hope this helps.

      Delete
  3. Hi! Good gains youve got there so far!
    Ripple's correlation to banks and various institutes using its payment protocols are indeed very favorible for the company.
    However, investing in the Ripple's company/payment protocol is not the same as buying its token (XRP) .

    I think many ppl misunderstood this fact. Banks and institutes can make use of ripple's payment protocol WITHOUT using its tokens at all.

    In addition: 62% of XRP float are privately held... its like going into a casino to enter now at all, ppl are making a mistake about the supply of XRP

    ReplyDelete
    Replies
    1. Benjamin, thanks for dropping by and providing the enlightening comment.

      Just curious, which alt-coins are you currently vested and why?

      Cheers!

      Delete
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    ReplyDelete
  5. These are called Buttonwoods after the primary road trade built up on Wall Street in 1792 under a buttonwood tree bitclub network scam

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