Ripple (XRP) to be Listed on Uphold After $60M Investment
Ripple has been making great headlines recently as the investments into her security have greatly increased from outside investors. Popular cloud-based digital money platform Uphold has just received a substantial amount of capital to the tune of $60M from early Coinbase investor, Greg Kidd. The investment will be used to not only add XRP to the exchange, but insure the coin as well. This is a strong deviation from nearly all trading platforms and online wallets as guarantees of cryptocurrency lost or stolen are simply non-existent. To add a certain level of assurance to those who choose to use the site will most certainly attract other users who desire an added level of financial protection with their transfers.
While many investors have stayed far away from cryptocurrencies in general simply from the fact that exchanges can be ransacked by hackers, the insurance policy that comes from Uphold’s new measures may set the standard for other online wallets and digital platforms as we progress in 2018. Along with this highly desirable safety net, the rest of the funding from Kidd will allow users to trade XRP, giving not only the site, but the coin another distinct advantage. From buying Ripple direct, users now will no longer have to exchange as many currencies to end up at their desired price point. Streamlining the process of buying such a coveted cryptocurrency will boost the appeal of Uphold and translate into a more valuable coin in Ripple.
As Kidd states, by leveling the playing field from this maneuver, prospective clients will no longer worry about losing their investments to hackers. When Mt. Gox lost in excess of $1B in today’s prices four years ago, many were skeptical as to whether cryptocurrency could be the way of the future due to such digital threats further confusing unfamiliar users. By crippling the cryptocurrency market for such a long time, the digital sphere of assets has taken a considerable amount of time to return to as she was originally designed. With the financial backing if such a theft were perpetrated, consumer protection would be of the highest magnitude in order to continue operating. Without users, there are no transactions and without transactions, there is no revenue. Look for XRP to increase greatly in price once Uphold releases the coin on the platform as capital investments will surely migrate to not only a secure wallet, but one that is insured.
