Zebitex is a French cryptocurrency exchange based in Toulouse. It’s the most important French digital exchange and it’s prioritized to offer several crypto coins paired against the Euro. It’s latest digital asset offered in a Euro pairing is none other than Ripple’s XRP.
Among the cryptocurrencies offered by this platform are Bitcoin, Ethereum, Litecoin, and Monero.
This platform has been involved in crypto since 2014 (which is a very long time by cryptosphere standards), it sells itself as a very secure environment (protected against DDoS attacks, full data encryption, compliant with PCI DSS standards), it supports cold wallet systems, it has a competitive commissions model (simple, transparent, no extra management fees), advanced charting tools so you can use all that technical analysis you’ve learned since you bought your first altcoin, and good customer support (fast and friendly).
This is a good development for Ripple’s XRP. It’s the first time that XRP will be available for crypto investors directly through the Euro fiat currency. XRP has become increasingly available in local fiat currencies the world over (Indian Rupees, Canadian Dollars, US Dollars, and now Euros).
XRP is becoming a very strong coin in terms of profitability, stability, and value. It beat the legendary Ethereum token for the second spot in terms of market capitalization and it’s the one token that’s remained relatively stable when most others have been losing value at insane rates. Why is that?
It’s because XRP is useful. Ripple’s fought very hard for XRP’s main use case to be successful. That use case is using XRP as a mediating coin that banks and remittances services can use to settle international transfers.
That’s been Ripple’s game all along, and it caused it to be quite unpopular in the cryptoverse. Why? The whole point in Bitcoin (and in cryptocurrencies, in general) according to the mythical cyber-hero, Satoshi Nakamoto, is to get rid of fiat currencies and the traditional financial system.
Ripple is trying to use its currency (XRP) and its blockchain technology to help it instead of destroying it. That’s anathema regarding Satoshi’s original intention. But it’s working in terms of usefulness and it’s rendering the token stable.
XRP was last year’s most profitable coin, it outdid even Bitcoin. After last December, it’s the one coin that’s held its ground in a market that’s been seriously dominated by an intense and protracted bearish run. Over the last eleven months, most coins have had losses that need two figures to be written while XRP has resisted at single digits. It’s even managed to grow compared to the rest.
Zebitex’s decision to list XRP paired against the Euro is meaningful because it’s the first time that this coin is going to be directly available in Western Europe using the local fiat currency. The new pairing lines up with Zebitex’s priority to offer several coins using the Euro, but also with Ripple’s which is always looking to find new markets and use cases for the XRP currency.
The new development will create additional trading volume for XRP in a market that was more or less virgin until now. That will pump up the coin’s prices and stability.
Image courtesy of Pixabay.