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New Liquidity in the Next Few Months


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As we stagnate, tied to the slow rollercoaster down of Bitcoin, it occurs to me that we have a lot of new exchanges coming online very soon. Namely      Coinsquare (Posted on their homepage,

Also don’t forget the extra liquidity that all these pilots which lead to actual read world usage of XRP will have. Mostly every other coin’s price is built on speculation.  XRP’s price is m

Toast wallet are also working on allowing fiat purchases direct from their wallet.  

Circle Invest came out with zero trading fees and is live for everyone. They are stating that they will add more coins in the future (currently has (Bitcoin, Bitcoin Cash, Ether, Litecoin, and Ether Classic). I'm like 99% they will add XRP since Circle bought Poloniex and I'm certain that the app is working on the Poloniex exchange. Plus Poloniex has XRP so its something to look for in the future.

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49 minutes ago, MatinMontreal said:

As we stagnate, tied to the slow rollercoaster down of Bitcoin, it occurs to me that we have a lot of new exchanges coming online very soon.

Namely

     Coinsquare (Posted on their homepage, listing imminent)

     Revolut (January: "working on XRP integration as we speak")

     SBI VC (Sometime after next week's G20)

    Robin Hood (Announced but without a firm date)

And, of course, there are the never-ending rumors about Coinbase.   

Definitely all good news for the next 2 quarters.  The market is going to look a lot different 3-6 months from now and it will be harder and harder for Bitcoin to impact the price of XRP.

Any other big exchanges that have announced that I'm missing?

Great news! I've heard that trading on Robin Hood doesn't allow you to transfer the crypto asset you trade so it was compared to trading an IOU. Does anyone know how this will affect price? Or if at some point they would just go out into the open market and buy the asset, then transfer to the buyer, and allow them to transfer?

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13 minutes ago, Mpolnet said:

Great news! I've heard that trading on Robin Hood doesn't allow you to transfer the crypto asset you trade so it was compared to trading an IOU. Does anyone know how this will affect price? Or if at some point they would just go out into the open market and buy the asset, then transfer to the buyer, and allow them to transfer?

I think Robinhood won't allow you to deposit your existing crypto but will let you buy & sell or move the crypto that you bought on Robinhood. I think robin hood makes the tax filling so simple.. They have a integration with Turbotax, all I have to do is enter in a 6 digit code in turbotax - it will automatically import all my trade..

 

I am waiting for Robinhood.

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14 minutes ago, xrp_moonjet said:

I think Robinhood won't allow you to deposit your existing crypto but will let you buy & sell or move the crypto that you bought on Robinhood. I think robin hood makes the tax filling so simple.. They have a integration with Turbotax, all I have to do is enter in a 6 digit code in turbotax - it will automatically import all my trade..

 

I am waiting for Robinhood.

Wow I didn't know about the tax aspect! I think that's extremely beneficial to new users and will definitely simply the process (hopefully leading to more retail investments into the space). 

Here's what I was able to find:

https://support.robinhood.com/hc/en-us/articles/360000088663-Crypto-Transfers-Deposits

I guess for the time being you can neither transfer to or from Robinhood but they are working on changing that. So I guess that means that it will have a direct impact on price since they will actually have to deliver the funds being bought by their customers to the customers wallets. Great news!

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5 hours ago, MatinMontreal said:

As we stagnate, tied to the slow rollercoaster down of Bitcoin, it occurs to me that we have a lot of new exchanges coming online very soon.

Namely

     Coinsquare (Posted on their homepage, listing imminent)

     Revolut (January: "working on XRP integration as we speak")

     SBI VC (Sometime after next week's G20)

    Robin Hood (Announced but without a firm date)

And, of course, there are the never-ending rumors about Coinbase.   

Definitely all good news for the next 2 quarters.  The market is going to look a lot different 3-6 months from now and it will be harder and harder for Bitcoin to impact the price of XRP.

Any other big exchanges that have announced that I'm missing?

Still waiting to see what Uphold does - I like the idea that they were considering insured accounts.

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3 hours ago, KarmaCoverage said:

Got a link on the details of the insurance?

Not insured per se, in that there is no FDIC-type insurance, as stated in their user agreement... however, read the article for explanation of how your deposits are protected. Also, their security is top-notch, see below.

"Security at Uphold"

"At Uphold, security is in our DNA. It is built into the systems we build, the staff that we hire, and the personal sense of responsibility of each employee. Our top priority is to protect your money and personal information like it was our own at stake. Here are some of the measures we take to ensure that your money and your data are completely safe and secure at all times:

Access and Encryption

Uphold takes a holistic approach to our Information Security and Personal Information protection programs. These programs are designed to meet or exceed regulatory requirements, establish the highest levels of trust with our members, and prevent bad actors from taking advantage of our systems, members, employees, or brand.

Measures include but are not limited to:

Software and security patches are constantly monitored and updated.

All emails may be encrypted in transit.

We enforce Role Based Access for sensitive operations or functions.

We employ Smart Card Access readers at all office locations, which control access to the main spaces and sensitive operational areas.

We use SQL injection filters and write models and validation patterns for each individual data field.

We follow Test Driven Development (TDD) processes, complete with full unit, functional security and integration testing.

Application credentials are kept separate from the database and code base.

The site runs entirely over TLS (https).

Private keys are protected using strong encryption methods.

Auditing

Uphold undertakes independent security audits at least annually to ensure that any potential vulnerability related to our web network environments are fixed promptly. These security reviews include diagnostic reviews of devices and internal and external penetration testing, as well as assessment of policies, procedures and security standards.

Uphold uses a combination of internal security professionals and external security firms to conduct Penetration testing of our systems several times per year. These tests are designed to ensure the security controls in place are effective and adequate to protect your personal information and money.

We utilize continual vulnerability scanning and assessments for internal and external systems checking for security weaknesses and taking corrective action immediately if any are found.

The Uphold Security Team conducts recurring audits to ensure compliance by all employees.

The Uphold Security Operations Center monitors our systems 24 hours a day, 7 days a week, 365 days a year and responds to suspicious activity immediately as they arise.

We have independent third-party auditors complete financial audits and comply with all applicable laws

Regulatory Compliance & Anti-Money Laundering (AML) Controls

Uphold works with licensed banking partners in the US and is regulated by the United States Treasury Department regulator, FinCEN.

In the EU, Uphold is partnered with an Authorised Payment Institution regulated by the FCA (UK Financial Conduct Authority).

Operating as a regulated financial service provider, Uphold must comply with global Anti-Money Laundering (AML) controls. Uphold is 100% committed to keeping member personal information safe and transactions anonymous. However, as with all financial service providers operating compliantly, we are required by law to record information about members and transactions and, at times, provide these to law enforcement officials. We seek to follow all applicable local, state, federal and international law concerning the protection of consumer data including, but not limited, to the EU data protection requirements, Gramm-Leach-Bliley Act (GLBA) in the US, and the People's Republic of China regulations to protect personal information.

Uphold is required to adhere to Payment Card Industry Data Security Standards (PCI-DSS) to increase controls around cardholder data to reduce credit card fraud via its exposure. Validation of compliance is performed annually by an external Qualified Security Assessor (QSA).

We adhere to Office of Foreign Assets Control (“OFAC”) regulations

Uphold Team

All Uphold employees must pass a thorough background check, including criminal record check, financial records, education credentials and reference checks as part of the hiring process.

All employees are required to use screen locking and follow best practices for safe storage of equipment.

Employees are required to use and maintain strong passwords or passphrases in all the services they access and administrative accounts must use approved 2 factor authentication methods.

Employees undergo continuous training on security best practices."

https://support.uphold.com/hc/en-us/articles/203399367-Security-at-Uphold

"Terms of Membership Agreement for residents of United States"

Last updated October 13, 2017.

"8. WE ARE NOT A BANK."

"We are not a bank, so balances are not deposits and they do not earn interest. Balances are not insured by the Federal Deposit Insurance Corporation, the Financial Services Compensation Scheme, or any other entity or insurance scheme, whether governmental or private."

https://uphold.com/en/legal/membership-agreement/usa

"Former Ripple Exec Invests $57.5 Million in Uphold"

"In addition to forming Uphold Labs, the investment will help fill Uphold's loss assurance to roughly 20 percent of its crypto holdings, protecting its users from potential losses due to cryptocurrency volatility or other issues.

Kidd told CoinDesk:

"Because of the strength of Uphold's compliance and controls, I'm willing to pledge a certain amount of my balance sheet, or the balance sheet of my venture company ... as a reserve. That means that if there was some adverse effect at Uphold that might put it otherwise in a position of operating as a fractional reserve, this is like an insurance program that will make sure that user balances are protected."

A spokesperson for Uphold said the licensing revenue and development wing will receive 20 percent of the funding, which will be used to add more cryptocurrencies to increase the firm's connectivity to financial systems, as well as for use in Ripple-related projects.

Then, 45 percent will go to equity, and the remaining 35 percent will be shifted to its reserve balance sheet.

The partnership will help Uphold provide "unprecedented asset protection," said chief executive Adrian Steckel."

https://www.coindesk.com/former-ripple-exec-invests-57-5-million-in-digital-money-platform-uphold/

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38 minutes ago, GiddyUp said:

"Because of the strength of Uphold's compliance and controls, I'm willing to pledge a certain amount of my balance sheet, or the balance sheet of my venture company ... as a reserve. That means that if there was some adverse effect at Uphold that might put it otherwise in a position of operating as a fractional reserve, this is like an insurance program that will make sure that user balances are protected."

Makes sense, a good Risk adjusted return for someone who understands the nature of the risks, and has the crypto capital.

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