Should or should not Ripple be added to Coinbase?
Ripple is one of the most priced cryptocurrency but yet is not a part of Coinbase. Read this article to know why Coinbase doesn't want to add Ripple to its exchange and where else you can trade in Ripple.
The crypto-currency market has faced a lot of heat in the present times, but it seems the wave is not ready to sublime. The rumour mills were abuzz that soon Ripple would become the heart of Coinbase, one of the biggest exchange platform for the cryptocurrencies. The hype drove the XRP shares up by $1.07, from the weekly averages, but Coinbase threw cold water on Ripple enthusiasts confirming that nothing is as yet decided. The news tanked the shares of Ripple towards its previous averages.
So, the question arises should or shouldn't Ripple be added to Coinbase?Why it should be added?
Coinbase is one of the largest and most valuable exchange cryptocurrency markets like Binance and Gemini with a market capitalization of 2 billion dollars. Various companies want to be a part of it to gain the spotlight, and Ripple is one of them. The company even went on offering various financial incentives to gain a spot on an exchange, which is perfectly legal, but Coinbase straightaway refused to take the incentives and confirmed that they are not going to list Ripple any time soon, even though Ripple has a huge market share and is counted among the third largest digital currency in the world after Bitcoin and Ethereum because it is a conservative company and is always hesitant to add new assets to its portfolio. Moreover, the company has laid certain framework on how to add new assets under its exchange, popularly referred as GDAX Digital Asset Framework, which emphasizes on various aspects like the security and stability, which XRP doesn't possess. Bitcoin, Ethereum, Bitcoin cash and Litecoin are all decentralized cryptocurrency which means there is no centralized server hosting and there is no single person to control it either. In contrast, XRP has a centralized server under Ripple framework, which means it doesn't qualify under the GDAX framework. So, if Ripple wants to be a part of it needs to get de-centralized. The main benefit of listing would be to gain a spotlight and worldwide acceptance.
Right now, Ripple has associated itself with MoneyGram and the speculations are rife that Ripple will also partner itself with WalMart to expand its business. This news has shown a positive impact on XRP share price too. However, still XRP shares are trading in the red, but that is not the cause of concerns because other currencies in the market are also witnessing a jaw-drop.Why doesn't Ripple need a partner?
There are more than 1500 currencies trading, but CoinBase has a strict framework and deals in only four, which points out towards its rigidness and the reason behind not adding Ripple. That said, but we believe Ripple also don't need Coinbase to skyrocket because it stands high in the global coin ranking list. Till now, it has managed to collect 73% of the total gains in terms of dollar, and the team is forging ahead by trying to list itself on another platform. Recently, Ripple enamoured the victory by registering itself with Uphold. Uphold is a digital wallet app that helps the user to take benefit of this platform. Uphold offers credit, debit, and clearing potential, so the users can easily select between the three options. With this listing, Uphold has enabled the users to buy Ripple directly from its platform without any hidden steps. The company has helped Ripple to expand its footprints in the US. Further, In order to gain company massive acceptance, the team Ripple is soon going to directly exchange USTD with XRP units.
So, in the end, we would like to conclude whether Coinbase adds Ripple in its list or not, its popularity is bound to grow. What do you feel?
