A licensed cryptocurrency exchange based in Estonia, OMGFIN recently (at the end of the last month) posted a tweet from its official account saying that it is expanding the number of supported cryptocurrencies on the platform by listing Ripple (XRP).
The decision of adding Ripple’s XRP to its supported list of digital assets will most likely turn out to be an advantageous assessment for the Ripple community as well as for the OMGFIN exchange.
Given that, the OMGFIN exchange intends to bring a community of young investors to trade digital assets and help each other to accomplish profit goals by sharing their experiences and ideas. A thing worth noting is, the exchange offers 30 percent cash back.
The more you try to understand Ripple and its token XRP, the more you get attracted to them
To begin with, XRP that’s created by Ripple (the blockchain firm was launched back in 2012), is already supported by many big exchanges. Undoubtedly, Ripple’s XRP is amongst the top traded digital assets having the market capitalization of 12 billion USD.
In fact, Ripple is a revenue-generating firm for more than 100 banks and financial institutions operating on its blockchain technology, banking giants like the Bank of America and JP Morgan operate on Ripple’s blockchain.
Besides, Ripple is an open source network which aims to sanction the banks and financial institutions using the RippleNet to cut the cost of cross-border payments globally. This open source network is described as the “Internet of Value” and functions on the XRP ledger technology, an open source network developed by the Ripple Corporation.
According to CoinMarketCap Ripple’s XRP is ranked at third position after Bitcoin and Ethereum. A couple of times in the recent past, Ripple’s digital asset triumphed over Ethereum (known as the king of altcoin) and became the second biggest digital asset after bitcoin amid a few new announcements.
Ripple’s motive is to provide a secure method to move the money around other countries speedily and cost-effectively. At the time of writing, Ripple’s XRP price stands at $0.33 after the cryptocurrency went in red today by 5.8% after a couple of good days earlier.
XRP has maintained its position at the top even in the crypto bloodbath and has been on the rise steadily. Considering all that the company behind it (Ripple) boasts and the massive strength of its community, no one should be surprised to see it getting listed by the OMGFIN exchange. Not at all. It would be safe to say that OMGFIN is going to benefit more in the long-run from the move.
Image courtesy of Pixabay.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
