As someone who has virtually ignored cryptocurrency for a long time (mostly because I don’t really understand it), I’m really fascinated with the growing number of crypto currencies – and how fast some of them can gain (or lose) value. […]
As someone who has virtually ignored cryptocurrency for a long time (mostly because I don’t really understand it), I’m really fascinated with the growing number of crypto currencies – and how fast some of them can gain (or lose) value. To me it seems a bit like day trading stocks that have no real value behind them.
Curious about crypto? We’ll both receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase after signing up using Joe Connector’s link!
But a couple of months ago I was watching a YouTube video from Robert Kiyosaki of Rich Dad, Poor Dad fame. He was warning people of impending financial doom and advising them to buy gold, silver and Bitcoin. Not being able to afford gold, I had already purchased a few silver coins which made a nice rise in value the first couple of months that I had them – then they dropped back down to about $24 an ounce spot price. Today’s spot price of silver is down to $23.52
Still the same, I’m holding onto some silver, just in case it goes up a crazy amount. Some people think there is a good chance that we will soon be moving back to a precious metals backed monetary system and that gold and silver are a really good bet.
I’ve also read that the world monetary system will soon move to 100% block chain technology courtesy of Ripple, which is the owner of XRP. Ripple is already marketing XRP as the best digital asset for global payments.
According to Ripple’s website, XRP offers financial institutions the fastest, most reliable option for sourcing liquidity on demand.
Coinbase shows that XRP has a market cap of $29 Billion, a circulating supply of 45.3 Billion and the last 24 hours’ volume of XRP trading was $22 Billion. XRP is the 4th most popular cryptocurrency listed on Coinbase, with an all-time high value of $3.84 and is currently trading at .65 cents. When I first purchased XRP 2 or 3 months ago, it was trading at .19 cents. It’s made most of it’s recent gains in the past couple of days.
In my next cryptocurrency post, we’ll be looking at Stellar Lumens XLM, which is up over 56% just today.