Ripple (XRP) Soon to be Used as a Base Currency on Binance

Ripple (XRP)

Ripple (XRP) is already being used by some banks to handle cross-border payments quickly and cheaply. The Weiss rating agency has launched a survey to find out which cryptocurrency currency is best suited to move digital assets. The Ripple Community has regarded Ripple to be the base currency on Binance.

The rating agency Weiss had recently started a survey to determine which digital currency is best suited to transfer digital assets.The results are as follows :

  • 8% Ethereum
  • 78% Ripple’s XRP
  • 6% Bitcoin
  • 8% Other

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  • Last month, Bitrue, the first cryptocurrency exchange to use XRPas the base currency on the platform was launched. A user on Twitter had a similar idea and launched a call to convince Changpheng Zhao, CEO of Binance, to take that step as well and implement XRP as a base currency on Binance.
  • Binance had just a few days ago presented a demo of their decentralized stock market, which is currently still in development.
  • On DEX (Binance Distributed Exchange), the in-house cryptocurrency , the Binance Coin , is likely to serve as the base currency.
  • While the claims made are unlikely to attract Binance’s attention and commitment, there are some institutions that support XRP in this regard. The Weiss Rating Agency describes that it would be a logical step for Binance to significantly accelerate transactions between exchanges.

We think that the Ripple (XRP) is the fastest digital asset to transfer funds between exchanges. It only makes sense for Binance to use it as the base currency – Why should one have to go through an intermediary currency to trade?

It remains to be seen which crypto currencies will prevail in the long term on the crypto market. The price of Ripple (XRP) recorded within the last 24 hours a minimal increase in price of 3.68 percent to a price of 0.270552 euros. With a market capitalization of just under 10.6 billion euros, Ripple ranks third among the largest cryptocurrencies in the world.

 

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