Will Ripple Be Added On Coinbase?

I wrote some of this out in a group chat I am in and I decided since it was so long, I should clean it up a bit and it would best served as a note.

Ripple is considered to be a payment protocol. In my opinion, the only reason they are considered cryptocurrency is because they use a blockchain. They don’t even use the ledger, which is the whole point of cryptocurrency and decentralization. However, I have my reasons to believe they will be added to Coinbase. The number one reason being to scale to the masses. While this may be speculation, I will provide links I used as resources to back up my thoughts. When you read this post from 2016 by Brian Armstrong, the CEO of Coinbase, you’ll come to phase four, which is where I believe we are very close to or will be by the end of 2018. https://blog.coinbase.com/the-coinbase-secret-master-plan-f4d644443301

The bullet points he lists in phase four, remittance is listed there, which is exactly what Ripple will provide at scale. Here are the other things listed:

  • Loans (mortgages, small business lending, micro-lending, etc)
  • Venture Capital (seed, traditional vc, venture debt, etc)
  • Investing (stocks, index funds, savings accounts, etc)
  • Identity & Reputation (IDs, authentication, credit scores, etc)
  • Remittance (sending money cross border)

So even though I, personally, am not a fan of Ripple, I do believe it might be in the plan to be listed on Coinbase. If you read through the requirements in the GDAX framework on a broad spectrum, they do meet the requirements, and I believe that is by design. https://www.gdax.com/static/digital-asset-framework-2017-11.pdf

Coinbase needs what Ripple says they can provide, because as of right now, the average user who does not know about wiring to GDAX, will buy on Coinbase and wait seven days, or more in some cases, for their crypto to be added to their accounts.

Another interesting point in that same arena is that if you’re willing to pay the extra fees by using your credit card, you’ll receive your crypto instantly. Ripple could be the savior again here, being that they have partnered with American Express

, so this can lead to lowering fees and again, speeding up transactions. Also on a larger scale with the introduction of Custody

on CoinBase this could provide institutional money the warm fuzzies they need to move and store ERC20 tokens and more with Coinbase. This could also potentially turn Coinbase into the largest Crypto “Bank” and Exchange.(Maybe this is where all those [Boycott Coinbase] twitter handle changes are coming from? I will have to do more digging on that. But it would make sense as the crypto world wants decentralization.

I could be completely wrong here. This is just what I have concluded from all my research. For what it’s worth I am not currently holding any XRP. I sold took profits and bought some XRB but I have some buys set in the 5600-6000sats range because. I thought it would dip and then run again but it kept running. Just putting that out there for the sake of transparency. One of the best tweets I read during this big run up was from Crypto Picasso on Twitter:

 

 

I would love to hear your thoughts and discussion on this as well as price predictions if it does infect get listed on Coinbase. Long Live The Blockchain! If you are not part of our group yet come check it out. We started it 5 years ago as a tiny little corner and we are growing it into a place for everyone in the crypto world. Check it out:Crypto Alliance Group

 

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