By now, investors will have a relatively good understanding about the biggest cryptocurrencies in the market, however, the more niche coins such as cardano, litecoin and polkadot to name just a few are now also being wrapped into exchange-traded product (ETP) format.

With bitcoin, ethereum and others setting fresh all-time highs through the first half of 2021, many investors have started looking to the more dimly lit corners of the crypto universe, to the coins whose day in the sun is potentially yet to come.

Happy to service this demand, ETP issuers have taken to launching products targeting increasingly innovative, early-days – and frankly, niche – digital assets, to offer the reassurance of on-exchange trading to those looking to speculate on ‘the next big thing’.

Cardano ADA

The largest of the coins on our list is ADA, from the cardano platform, which has a market cap of $42.5bn.

The cardano infrastructure relies on Ouboros, currently considered the world’s largest proof-of-stake (PoS) protocol. The advantage of this framework is its much lower energy consumption versus the proof-of-work (PoW) protocols currently used by most cryptos. In fact, the Ethereum Foundation has announced it plans to shift its native currency onto PoS.

Cardano allows developers to construct decentralised applications and conduct peer-to-peer transactions via its native token, ADA.

Now the world’s fourth-largest crypto infrastructure, cardano has a settlement layer, similar to bitcoin, and a computation layer, similar to ethereum.

At present, the 21Shares Cardano ADA ETP (AADA) and the Valour Cardano SEK ETP offer investors access to the coin within an exchange-traded wrapper.

Ripple XRP

Starting life as opencoin before transforming into ripple, the platform has its own token, XRP, which is designed to allow financial institutions to transfer money with minimal wait times and fees.  

By 2018, over 100 banks were using ripple’s xcurrent messaging technology but avoided XRP due to concerns around volatility.  

Based on a common shared ledger, the platform relies on a network of independent servers that compare transaction records. Ripple can support a range of tokens representing fiat currencies, cryptocurrencies, commodities and other units of value such as frequent flier miles and mobile minutes.

A sticking point for the platform was the lawsuit brought against it by the Securities and Exchange Commission, with the regulator stating XRP had been illegally marketed to retail investors without making clear the risks involved in trading the asset.

This update saw 21Shares remove XRP from its mixed-basket HODL ETP but investors can still gain exposure via the 21Shares Ripple XRP ETP (AXRP) and the CoinShares Physical XRP (XRPL). At present, Ripple has a market cap of $31.8bn but in 2017, was briefly the world’s second-largest crypto.

Polkadot DOT

Moving down the list in terms of market cap, the $14.9bn polkadot platform was created by ethereum co-founder, Gavin Wood. 

Designed as a sharded heterogenous multi-chain architecture, polkadot allows external networks and customised layer one ‘parachains’ to communicate, creating a connected internet of blockchains.

Wood developed the polkadot protocol while mulling the sharding hurdles that might be faced in the ethereum 2.0 specification. By embedding sharding, the platform breaks the blockchain network down into separate entities to reduce latency – allowing it to scale and process more transactions per second.

Currently, exchange-traded exposure to the protocol is offered by two products from Swiss issuers, the 21Shares Polkadot ETP (ADOT) and the Valour Polkadot SEK ETP.

Litecoin LTC

Beginning as an early bitcoin spin-off in 2011, litecoin is a peer-to-peer digital asset released via an open-source client on GitHub, with a market cap of $9.7bn. 

Though bearing many similarities to bitcoin in its technical makeup, litecoin differentiates from the mega -ap coin in its lower block generation time (two-and-a-half minutes versus ten minutes), a higher maximum number of coins, and different hashing algorithms and user interface. 

The coin also uses scrypt in its PoW algorithm, which is a sequential memory-hard function that requires more memory than non-memory-hard equivalents. As a consequence, the devices used for Litecoin mining are more complex and expensive than those used for bitcoin prospecting.

The CoinShares Physical Litecoin (LITE) and ETC Group Litecoin ETC (ELTC) currently track the performance of the asset.

Solana SOL

With only a marginally smaller market cap of $9.1bn, solana is a third-generation PoS blockchain that creates a trustless system for determining transaction time called Proof of History (PoH).

Versus a PoW protocol, a PoH orders transactions in a series of hashes, allowing validators to process and transmit less information in each block, in turn reducing the time it takes to confirm a new block. 

Solana also uses other capabilities – Tower BFT, Turbine, Gulf Stream, Sealevel, Pipelining, Cloudbreak, Archivers – to create a network with a 400 millisecond block time, versus 10 minutes per block for bitcoin and 15 seconds per block for ethereum.

Earlier this week, the first ETP targeting solana, the Solana (SOL) ETP (ASOL), was launched by 21Shares.

Stellar XLM

Finally, we have stellar, an open-source, decentralised protocol for digital currency to fiat currency transfers with a market cap of $6.3bn.

Founded by ripple co-founder, Jed McCaleb, the platform uses the SCP protocol created by Stanford professor David  Mazières.

Since 2014, stellar and its native token XLM/lumens have been backed by $3m in seed funding from Stripe. The platform was then integrated into South African messaging platform, Vumi, and Nigerian microfinance facilitator, Oradian, in 2015.

A year later, the crypto integrated with Deloitte to create cross-border payments application, Deloitte Digital Bank. And since, stellar has partnered with the ICICI Bank in India, African mobile payments firm Flutterwave, French remittances company Tempo Money Transfer, IBM and the Ministry of Digital Transformation of Ukraine.

At present, investors can gain exposure to the digital asset via the 21Shares Stellar ETP (AXLM).

Just click on any of the ETF links in the article above and you will get access to a whole host of data including:

Please note: The tool is provided by ETF Logic who shall process your personal data in accordance with their privacy policy.

What do Vladimir Putin and Burger King have in common? 

For starters, they both have a cryptocurrency named after them. Actually, PutinCoin and Whoppercoin might be the only thing they have in common. But their namesake cryptocurrencies are among the thousands of different virtual currencies making up a growing marketplace grabbing investors’ attention.

Cryptocurrencies like Bitcoin and Ethereum have a growing track record of holding and increasing in value over time, though recent dips have wracked the market, while lesser-known cryptos are considered much more speculative and unpredictable. And while PutinCoin and Whoppercoin belong to a category of cryptocurrencies marked more for their absurdity than their potential as either an investment or cryptocurrency, they show just how unique different types of cryptocurrencies can be.

Here’s Where to Start:The Most Popular CryptocurrenciesDecentralized FinanceDigital GoldDigital Cash or Internet MoneySoftware Platforms Stablecoin or Digital FiatMemecoins, and Other Strange Cryptocurrencies

In general, cryptocurrencies can be grouped by utility: What is the purpose of the cryptocurrency? What is its value proposition? What is it for?

“They all have different utilities, they all have different founders who have different visions for where that cryptocurrency is going,” says Mike Uehlein, founder and financial planner of WealthU advisors. Uehlein regularly talks to clients about investing in cryptocurrency. 

The Most Popular Cryptocurrencies

There are thousands of cryptocurrencies, most with very little value and unclear potential. Many advisors recommend investors stick to Bitcoin and Ethereum — if any — and pass on the smaller cryptos. 

Leading cryptocurrency news outlet CoinDesk maintains a Coindesk 20 list of the most popular cryptocurrencies currently being bought and sold. This list includes cryptocurrency assets and networks by their most common names. Some, like Bitcoin (BTC), have one name for both the blockchain network and the cryptocurrency. Others, like Ethereum, are named for the broader blockchain network, but have a different name for their associated native cryptocurrency (Ether, or ETC, in the case of Ethereum).

Updated quarterly, the list ranks cryptocurrencies based on dollar volume and other data from third-party cryptocurrency exchanges, where people can buy and sell different cryptocurrencies.

BitcoinEthereumXRPCardanoStellarUSD CoinChainlinkUniswapPolkadotBitcoin Cash

Note: This list was last updated – using the Coindesk 20 – on July 1, 2021.

1. Bitcoin

As the first cryptocurrency, Bitcoin (BTC) is also the most popular and highly valued, despite high volatility over the course of its history. Bitcoin was initially created to be used as a digital payment system, but experts say it is still too volatile to be used for that.2. Ethereum

Ether (ETH) is the cryptocurrency of the Ethereum network, an open-source blockchain upon which developers can build apps and other cryptocurrencies. It’s also the second largest cryptocurrency by market cap, behind Bitcoin. Ether’s value has risen sharply since its creation in 2013, to nearly $3,000 for one token as of late May, but still lags well behind Bitcoin’s value of nearly $40,000 per coin. 

3. XRP

XRP is the cryptocurrency of the Ripple digital payment network. Built for digital payments, XRP touts itself as a faster and more efficient way to power global payments. Ripple and XRP also allow for third-party development on other uses for XRP.

4. Cardano

Cardano (ADA) uses a technology called Ouroboros, a peer-reviewed blockchain protocol. It describes itself as a more secure and scalable way to maintain decentralization.

5. Stellar

Stellar’s native cryptocurrency is the Lumen (XLM). Stellar is designed as an “open network for storing and moving money” that allows people to create, send, and trade digital money. It’s designed to sell and trade all digital monies, not just Stellar’s own associated cryptocurrency, the Lumen — although you’ll need to own some Lumen to make transactions.

6. USD Coin

USD Coin (USDC) describes itself as “the world’s digital dollar.” Created by a global financial firm called Circle, USDC is the result of work that has been invested in by Goldman Sachs, Baidu, and IDG Capital, among others. USD Coin is tied to the U.S. Dollar, which makes its price much more stable than other cryptocurrencies. That stability lends itself more toward digital payments, while other cryptocurrencies have more potential to increase in value as investments (along with more risk of losing value, of course).

7. Chainlink

Chainlink (LINK) uses “real-world data and off-chain computation while maintaining security and reliability,” according to its website.

8. Uniswap

Uniswap (UNI) is a decentralized crypto exchange that operates on Ethereum’s blockchain. Its developers promise to get rid of unnecessary intermediaries, which it says gives users more control.

9. Polkadot

Polkadot (DOT) says its mission includes allowing different blockchains to exchange information and transactions with one another. Its website plays up data and identity security and users being in control.

10. Bitcoin Cash

Bitcoin Cash is a peer-to-peer electronic cash system, which was the original intention of Bitcoin. The currency allows you to send money anywhere for very low fees.

While each of these top cryptocurrencies is unique in its own way, they all tie into an underlying principle called  decentralized finance (DeFi).

Decentralized Finance 

In its simplest terms, decentralized finance refers to financial activities conducted without the involvement of a traditional bank. 

Think about all of the activities in which you’d normally use a bank or some other financial institution — getting a loan, insurance, investing, even using a credit card. “All of these [activities] are traditional-finance based and have intermediary companies,” says Ollie Leech, learn editor at CoinDesk. “Now people are creating these products in a completely autonomous way with [cryptocurrencies].”

It can seem counterintuitive — where else would you go for a loan, if not an established lender? But that’s one of the appeals to DeFi, says Leech. 

In the same way people have increasingly brought “smart” technology into their homes, proponents say cryptocurrency has potential to automate and digitize more and more aspects of the financial system. The appeal of this happening outside the conventional — or centralized — finance system depends on who you ask. 

Many Americans may not understand the appeal of a finance system that operates beyond government control. But things can be very different in countries with less financial stability, says Roger Aliaga-Díaz, principal and senior economist with Vanguard Investment Strategy Group. If cryptocurrencies offer as much or more stability as a given national currency, it’s an entirely different equation than if your national currency is the safe and stable U.S. dollar.

Just like there are different types of accounts and tools in conventional finance — from savings accounts to investment accounts to credit cards — that are used for different purposes, different cryptocurrencies can have similarly unique uses in this emerging decentralized finance system.

Instead of going to a bank to draw out a loan, you might “go to a decentralized application that’s not owned or operated by anyone in particular,” says Leech. 

Where conventional loans involve humans at a bank who take part in processing, reviewing, and approving loans, a DeFi loan — with funding in the form of cryptocurrency — could run via app on a network like Ethereum with an algorithm processing it. The borrower would put up some cryptocurrency as collateral, which they’d get back minus interest when they repay the loan.

“The code runs autonomously using smart contracts,” Leech says. “So once the developers release the data they’re pretty much hands-off, and everything runs automatically so there’s no intermediary.” 

Ethereum’s website offers a comparison chart contrasting decentralized from traditional finance. Along with these technical differences, a big consideration to keep in mind is that the conventional financial system is regulated to serve the interests of everyday customers, while cryptocurrency and decentralized financial systems are largely unregulated, and subject to governance and oversight only by their creators/users.

Unlike the money kept in a bank account, money you have in crypto may not be FDIC insured. Some exchanges offer this insurance while others don’t — something you’ll want to look into before buying crypto from one or another. For exchanges that don’t offer this insurance, there’s no guarantee you will be repaid if there is a hack or the exchange goes out of business.

You hold your moneyMoney held by financial institutions Transfers happen in minutesPayments can take days to processTransactions are pseudonymous Financial activity is coupled to your identity (social security number, name, address, etc.)Market is always openMarket closes Built on transparency – anyone can inspect the systemFinancial institutions are closed books.comparison-table tr td:nth-child(){border-left: 10px solid #5bffb1;border-right: 10px solid #5bffb1;}.comparison-table tr:first-child td:nth-child(){border-top: 10px solid #5bffb1}.comparison-table tr:last-child td:nth-child(){border-bottom: 10px solid #5bffb1}

With that in mind, here are some of the broad categories of cryptocurrencies that tend to organize the market.

Digital Gold

Digital gold refers to cryptocurrency comparable to real gold in its ability to store and increase in value. There’s a limited amount of gold on earth, in the same way that digital gold cryptocurrencies have a limited supply. 

“People buy gold not because they expect to be able to go to the store and spend it, but because they expect it to hold its value and maybe, probably, increase in value over time,” says Galen Moore, director of data and indexes at CoinDesk. 

The primary example of a digital gold cryptocurrency is Bitcoin, though that was not its original intention. Bitcoin was originally put forth as an electronic peer-to-peer cash system, but its volatility, among other things, limited its potential for that purpose. 

In use, such digital gold cryptocurrencies are bought and held, “for the same reason people would have diamonds, or some $100 bills, or some gold coins in a safe,” says Moore. Litecoin is another example — it’s been described as silver to Bitcoin’s gold.

Digital Cash or Internet Money

Internet money is exactly what it sounds like — you use it to buy things over the internet. 

Bitcoin was originally intended to be digital cash, but speculation led to the creation of another cryptocurrency, Bitcoin Cash (a variation of Bitcoin). Bitcoin’s price was too volatile for it to be a suitable currency, which proponents for Bitcoin Cash argued was the entire point of the currency to begin with. 

“There was a big debate about what the future of Bitcoin was going to be. Was it gold or was it cash? The people who wanted it to be more like gold won out,” says Moore. The decision was a “turning point for Bitcoin where it really went down to be digital gold.” 

But the group that wanted Bitcoin to remain internet money split off — or forked, in crypto parlance — the currency and created Bitcoin Cash. The network is devoted to digital payments (with faster processing and lower fees). In these ways, Bitcoin Cash is “meant to be cash. That’s the value proposition,” says Moore.

Though Bitcoin Cash is designed and intended for transactions, its price is still volatile and probably not your best option for making or receiving payments. 

Software Platforms  

Ethereum represents another type of cryptocurrency: It operates as a cryptocurrency network and along with its native cryptocurrency, Ether, offers a programmable crypto environment for developers. Similar to how smartphones allow third-party apps to be downloaded and used, Ethereum allows developers to create “dapps” — Ethereum-based apps that tap into the network. 

Investors can buy Ether just like they can buy Bitcoin, hoping it increases in value. Ethereum’s programmable network allows for other, more customizable uses. One example is the creation of NFTs — nonfungible tokens — that caught the attention of people far beyond the cryptocurrency community this year. NFTs are Ethereum-based digital assets, which hold value based on demand and supply on the Ethereum network.  

Stablecoin or Digital Fiat

A stablecoin pegs its value to some other currency or commodity. A digital fiat represents a fiat, or government-backed, currency on the blockchain, says Moore. One of the most popular examples of a digital fiat is Tether, a cryptocurrency whose value is pegged to the U.S. dollar. 

Tether is a system that enables you to have a cash-like currency that is always worth $1 — but only on cryptocurrency exchanges. A digital fiat like Tether comes in handy when you want to quickly move your assets within a cryptocurrency exchange. For example, if you think the market for smaller, more unpredictable coins is going to crash, you might put your money in a stablecoin like Tether, and then buy back at a lower price after the crash, says Moore. 

Stablecoins enable the exchange to flow better, says Moore. Taking the previous example, you could theoretically cash out your smaller coins for actual dollars, and then reinvest those dollars after the crash, but it could take days to convert your coins into dollars and back again, says Moore. 

Memecoins, and Other Strange Cryptocurrencies

There are thousands of cryptocurrencies available. Many of them have little to no value, and no discernable value proposition, which lands them in the category of memecoins. Experts recommend avoiding investing in this category of coins and sticking with more well-known options like Bitcoin or Ethereum, if you decide to invest in crypto at all. 

Whoppercoin and PutinCoin fall into this category of cryptocurrencies, as does another famous memecoin of recent fame: Dogecoin. While Dogecoin has seen a rise in demand — and thus value — in recent weeks, it still is highly volatile, as evidenced by its drop in value when Tesla CEO Elon Musk made it the subject of a joke on a recent episode of “Saturday Night Live.”

Any cryptocurrency that’s not Bitcoin is referred to as an “altcoin.”

Bitcoin, Litecoin

Bitcoin Cash, XRP

Ethereum, Cardano, Polkadot

Tether, USD Coin

Dogecoin, PutinCoin, Whoppercoin

I would like to subscribe to the NextAdvisor newsletter. See privacy policy

The cryptocurrency market continues its slide downwards, hitting its lowest level since early February. It has now sunk to a total value of $1.24 trillion, having stood at $1.42 trillion only a week ago. This represents a decline of just over 12%, with most of the top altcoins falling by higher percentages.

However, if you’re a believer in the long-term viability of crypto, then the market falls only ever provide discounts. Accordingly, we’ve picked the 5 best cryptocurrency to buy at low prices. This mostly covers coins with an absolutely low price, but it also includes a couple which priced low compared to their potential long-term value.

Bitcoin (BTC) has led today’s slide to fresh lows. It’s down by over 5% in 24 hours, having dropped to nearly $29,500. It’s also down by 10% in a week and 16% in 30 days. At the same time, its current price is 53% below its all-time high of $64,804, set back on April 14 (which now seems like an age ago).

Most major models of bitcoin’s price suggest that it’s grossly undervalued right now. The stock-to-flow model — which compares new bitcoin minting with its current stock — suggests BTC should be closer to $100,000 than $20,000.

— PlanB (@100trillionUSD) July 19, 2021

Likewise, bitcoin’s 11-year price history indicates it should reach $100,000 by the end of year. At the same time, a recent survey of 42 cryptocurrency researchers and executives found that 61% of them believe BTC is undervalued. They also, on average, expect a price of $66,284 by the end of the year.

In other words, bitcoin is cheap compared to where many expect it to be. This is why it appears among the 5 best cryptocurrency to buy at low prices.

Given its association with the controversial Bitfinex exchange, LEO Token (LEO) may not necessarily be a popular choice. However, it’s the only top-50 cryptocurrency to rise significantly over the past 24 hours and week.

At $3.17, it’s up by 7% in the past day and 8% in the past week. Better yet, it’s up by 24% in the last fortnight and 22% in the past month. This is enough to make it the best-performing coin across the past 30 days.

For those who aren’t familiar with LEO, it’s the native utility token of the Bitfinex exchange (owned by iFinex, which also owns Tether). As with Binance’s BNB, it provides Bitfinex users with discounts on trades.

💵Fiat deposits and withdrawals 🦁Access to UNUS SED LEO and its trading discounts ✅Stable and utility tokens deposits and withdrawals PLUS more! 🔥

Upgrade your account NOW!https://t.co/h6yw3UOHFn pic.twitter.com/oTTcpRp4pR

— Bitfinex (@bitfinex) November 27, 2020

At just over $3, LEO is certainly cheap. That said, the only problem with it is that it’s not entirely clear why it has been rising so strongly, particularly when the rest of the market is down. Data from Nomics shows that Bitfinex has enjoyed rising volumes over the past year.

This may suggest an increased demand for LEO. However, the volume has certainly declined in the past couple of months, implying weaker demand for the cryptocurrency.

Still, with the rest of the market tanking, LEO may be only one of the few chances for short-term gains right now.

Another cryptocurrency that has bucked today’s trend is Dash (DASH). It’s up by nearly 5% in the past 24 hours, at the relatively low price of $119. On the other hand, it remains down by 6% in the past week and 21% in the past month, following the rest of the market.

Compared to an all-time high of $1,493, DASH is certainly very cheap right now. In fact, it’s one of the few major coins that didn’t break its December 2017 ATH during the recent bull market. It’s currently 92% below this ATH, suggesting it has plenty of space left to rise if another bull market picks up.

And while Dash isn’t as widely discussed as the biggest cryptocurrencies, it continues to attract new partnerships. Most recently, it announced a deal with Naijacrypto to launch the first cryptocurrency exchange in Haiti.

More details: https://t.co/fBduO6VsnW pic.twitter.com/OylsYbBhKj

— Dash (@Dashpay) June 28, 2021

Cardano (ADA) certainly hasn’t escaped today’s selloff unscathed. It’s down to almost $1.00, having fallen by 12% in 24 hours. It’s also down by 21% in a week and by 25% in a month, with its current price some 57% below its ATH of $2.45.

These falls may be steep, but they arguably make ADA one of the best cryptocurrency to buy at low prices at the moment. According to Blockchaincenter.net, it is the fourth best-performing cryptocurrency over the past 90 days. This is due largely to it rising after May 12, when the market fell following Tesla’s rejection of bitcoin.

Cardano’s status as a proof-of-stake blockchain helped it to rise to new heights after the outgoing bull market began its decline. And it’s actually one of the few major platforms with some big positive news to look forward to in the coming weeks. This is the arrival of smart contracts, which are due to launch at some point in August. Once they do go live, Cardano will effectively become a fully-fledged dApp platform and likely enjoy increased adoption. In turn, ADA will leave behind its current low price.

Ripple (XRP) is probably the lowest, sub-$1 coin with the best long-term prospects. Its price has sunk to $0.522760, a fall of nearly 10% in 24 hours. This also marks a fall of 20% in a fortnight and 31% in 30 days.

There are two things that make XRP one of the best cryptocurrency to buy at low prices right now.

Firstly, Ripple’s ongoing case with the Securities and Exchange Commission continues to go well. Most recently, two SEC commissioners submitted a letter to the case’s presiding judge, declaring that Ripple didn’t have fair notice from the SEC to the effect that XRP might be considered a security. This letter might make a settlement or dismissal more likely.

— Jeremy Hogan (@attorneyjeremy1) July 19, 2021

Secondly, Ripple and XRP can boast more adoption than many other coins and platforms. Ripple announced a partnership with Egypt’s largest bank in May, while it also revealed a move into tokenisation at the beginning of this month.

Taken together, such developments put XRP in a position to rally strongly if and when the SEC case is settled in Ripple’s favour.

LONDON , July 2, 2021 /PRNewswire/ -- UK-based cryptocurrency exchange coinpass has launched its new flagship crypto trading platform.

The new platform, coinpass Trade, lets users trade crypto with a cryptocurrency exchange listed on the FCA temporary crypto-asset business register.

Users will benefit from top-tier security, deep liquidity, a large choice of tradable tokens and excellent service and support.

Voted Best Cryptocurrency Exchange Platform 2020 at CityAM's CryptoAM Awards, coinpass is preparing for exponential growth to service its growing UK and European user base.

Investors can sign up and register as an individual user or a corporate entity in minutes.

Jeff Hancock , co-founder and CEO, said: "Our goal was to design a crypto trading experience for our users that was easy to use, beautiful to interact with and provided access to the most important data when investing in crypto.

"Typically, exchanges leave you looking at charts and order books instead of the important data to monitor and grow your crypto portfolio. Our new innovative trading platform will enable our users to actively monitor their trading positions, crypto market trends and overall portfolio performance, which are essential to investors to continue to grow their portfolio."

At launch, coinpass Trade will support the following trading pairs and markets:

British Pound (GBP), European Euro (EUR), Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Polkadot (DOT), Chainlink (LINK) and Stellar (XLM).

Post-launch, the following markets are scheduled to be added:

Crypto-crypto markets for BTC and ETH

Additional alt-tokens vs fiat currencies markets

Additional alt-tokens vs cryptocurrencies markets

The platform is aiming to offer over 100 tradable crypto markets to its client base.

Launched in 2018, coinpass has become a leader in the UK cryptocurrency space since the launch of its GBP-crypto fiat on-ramp gateway.

The new platform opens publicly on July 1st 2021.

Logo: dia contact Marketing Team marketing@coinpass.com +44 (0)203-475-9316

“Virtual assets do not constitute legal tender in Mexico nor are they currencies under the current legal framework,” the authorities wrote in the statement Monday.

The declaration comes on the heels of a tweet by Mexican billionaire Ricardo Salinas Pliego -- the owner of Banco Azteca -- saying on Sunday his bank is working to accept Bitcoin. The bank was not directly referenced in the authorities’s statement.

Read More: Mexican Billionaire Says His Bank Is ‘Working’ to Accept Bitcoin

Mexico’s release also reiterated warnings about the risks of using cryptocurrencies as a medium of exchange, store of value, or as an investment, which has been the long-standing position of the country’s financial authorities. In order to maintain a healthy distance between virtual assets and the financial system, the authorities wrote, Mexican financial institutions are not allowed to offer operations in Bitcoin, Ether, XRP, and others.

Though they're soaring Wednesday, the world's largest cryptocurrencies are still far from their peaks earlier this year as a result of heightened regulatory scrutiny in China and bearish comments from Tesla chief Elon Musk—here's when every top 10 cryptocurrency (save for Tether and USD Coin, whose values are meant to float near $1) peaked this year. 

Anticipation over crypto-brokerage Coinbase's public-market debut helped lift bitcoin to new highs in April, but after the occasion—hailed as a watershed moment for institutional adoption—failed to meet high expectations, the world's largest cryptocurrency struggled to hold on to its meteoric gains.

Amid crypto-mining bans in China and criticism over the coin's massive carbon footprint, bitcoin prices have plummeted nearly 47% from their all-time high on April 14, the day Coinbase debuted on the Nasdaq exchange.

Though Ripple's XRP hasn't surpassed its high from the crypto-trading frenzy four years ago, the volatile token's peak this year also occured on April 14—buoyed by both Coinbase's listing and a judge's favorable ruling in the Securities and Exchange Commission's ongoing Ripple investigation—but its price has plummeted a staggering 65% since.

As investors sold off their bitcoin holdings in the weeks after its peak, many plowed into other top cryptocurrencies, lifting the likes of ether, polkadot, uniswap and binance coin to new highs in early May, as big banks Goldman Sachs and Morgan Stanley started revving up operations in the space.

Some cryptocurrencies also got a boost from billionaire Elon Musk—including his unabashed favorite, "joke" token dogecoin, which surged to a new high on May 8, the day of Musk's highly anticipated Saturday Night Live debut, but has plunged nearly 70% since the self-proclaimed "dogefather" used his airtime to call the digital asset a "hustle."

After days of surging while the broader crypto market started crashing over environmental concerns, Cardano's ada token, which claims to have a much less carbon-intensive mining process than bitcoin, peaked on May 15 and has fallen nearly 45% since, much like the rest of the crypto-market.

Bitcoin and the broader cryptocurrency market soared during the pandemic in light of inflationary concerns and soaring institutional adoption, but prices have plummeted since April, when Tesla—one of bitcoin's biggest corporate investors—disclosed it sold a large chunk of its holdings. Musk, who cheered on the crypto market during its massive rally earlier this year, helped intensify crypto's crash last month by tweeting out that Tesla would no longer accept bitcoin because of its hefty environmental cost—a single development that wiped out more than $300 billion in crypto market value in just hours. Markets have failed to recover since then amid an intensifying regulatory crackdown in China, and the value of the world's cryptocurrencies—at less than $1.4 trillion Wednesday—is roughly half of the nearly $2.6 trillion at its peak on May 12.

“The fall that has taken place since [Musk first soured on crypto] shows just how wild an instrument bitcoin is, how overbought it has become and how influential the Tesla CEO now is in the space,” Oanda Senior Market Analyst Craig Erlam said in a recent note. “I’m not sure any of that is a good thing.”

Regulation. Experts have long warned that heightened government intervention could stunt the crypto market’s massive rally, and the recent mining crackdown in China has proven that. Still, the last time regulatory concerns crashed the market—by more than 80% in 2018—prices managed to bounce back. The market is still up about 50% from its early 2018 peak.  

Major Cryptocurrencies—Including Bitcoin, Ethereum, Dogecoin—Plummet As China Widens Crackdown (Forbes)

Crypto Crash Intensifies As Losses Eclipse $1.3 Trillion Just Two Weeks After Market's All-Time High (Forbes)

Crypto Markets Crash Again After DOJ Seizes $2.3 Million Bitcoin Ransom (Forbes)

I'm a reporter at Forbes focusing on markets and finance. I graduated from the University of North Carolina at Chapel Hill, where I double-majored in business journalism

I'm a reporter at Forbes focusing on markets and finance. I graduated from the University of North Carolina at Chapel Hill, where I double-majored in business journalism and economics while working for UNC's Kenan-Flagler Business School as a marketing and communications assistant. Before Forbes, I spent a summer reporting on the L.A. private sector for Los Angeles Business Journal and wrote about publicly traded North Carolina companies for NC Business News Wire. Reach out at jponciano@forbes.com. And follow me on Twitter @Jon_Ponciano

You can buy more things than ever with cryptocurrency these days, from video games to new furniture. But should you?

“I wouldn’t,” says Kiana Danial, author of “Cryptocurrency Investing for Dummies” and the personality behind @Investdiva on Instagram. While there are a few circumstances where it can make sense, the practical answer for most people is no. 

Cryptocurrency markets are notoriously volatile, and the price you pay for an item today may not be what your purchase is worth tomorrow. Plus, many companies experimenting with crypto payments only accept Bitcoin, which experts say is one of the worst cryptos you could choose to pay for something. 

Nevertheless, people are interested in how crypto might work as a payment method. Nearly 20% of all U.S. adults say they’re likely to make a purchase using crypto, according to a recent report by PYMNTS.com, a news and research platform for payments and commerce. But before you cash in your Bitcoin to top up the balance on your Starbucks app, here’s what experts have to say about purchasing with crypto:Don’t Pay With Bitcoin

Bitcoin, the first cryptocurrency, was originally intended to be used exactly like money. Its white paper dubbed it a “peer-to-peer electronic cash system.” But Bitcoin’s frequent and volatile price fluctuations make that unrealistic in practice. 

“The price volatility kind of makes it useless as an electronic cash system,” says Ollie Leech, learn editor at CoinDesk, a leading cryptocurrency news outlet. “No person in their right mind would want to buy a coffee with Bitcoin. Say you pay $3 for the coffee, and tomorrow your Bitcoin could be worth $30. That’s a loss.” 

Just one year ago, in June 2020, Bitcoin’s value was under $10,000. Since then, it reached a high of more than $64,000 and, despite a recent price drop, remains close to $40,000. Imagine a video game that cost $50 worth of Bitcoin last June. If you waited until today to buy it instead, the same price in Bitcoin today would now cost you $200. 

People buy Bitcoin “not because they expect to be able to go to the store and spend it, but because they expect it to hold its value,” says Galen Moore, director of data and indexes at CoinDesk.

What About Other Cryptos?

Bitcoin has failed at its intended mission to become a new currency, but experts say there are other cryptocurrencies better for transacting. “Every one of them are optimized for certain things. For example, you wouldn’t go to the store and pay for groceries with gold,” says Danial — in the same way you shouldn’t spend Bitcoin on your morning latte. 

Some popular cryptos specifically designed to work better for spending include Dash, Manero, and XRP, according to Danial. Stablecoins, like Tether or USD coin, can also make better alternatives for purchasing, since their prices are tied to existing currencies. 

“There are coins that are more like cash,” says Pat White, co-founder and CEO of Bitwave, a company that helps businesses with crypto tax reporting. These coins are a better choice for spending, in theory, thanks to faster processing and lower fees. “They are designed to be spent and used very quickly.”

But in reality, there’s still a downside to using crypto developed to mimic cash to make payments. Take Bitcoin Cash (BCH), for example. BCH came about after the original Bitcoin proved itself too volatile to be used as a new kind of internet money. A group of creators decided to split off from the original crypto and create Bitcoin Cash, which was designed as a more stable version to be used for transactions.  But in practice, Bitcoin Cash is still highly volatile. In the last year its price has run from around $250 per coin to over $1,500, highlighting the risk of using it to buy something at the wrong time.

Taxes are another complication. While you don’t need to report your crypto purchases to the IRS, you do need to report when trading a cryptocurrency for goods or services. Each time you make a purchase using crypto, you need to track your cost basis, or the fair market value of the crypto when you bought it versus when you used to transact, and report that capital gain or loss.

Are There Other Real-World Uses For Crypto?

For American citizens in America, “There’s probably not going to be a good reason to buy things in crypto,” Danial says.  

That’s because the U.S. dollar fluctuates less than the vast majority of cryptocurrencies out there. However, when you consider a currency that’s less safe and stable than the U.S. dollar, the case for cryptocurrency payments increases, says Roger Aliaga-Díaz, principal and senior economist with Vanguard Investment Strategy Group.

Take a volatile currency like the Iranian Rial. “It loses value every single day,” Danial says. “I’m Iranian, my parents are as well, and whenever they go to Iran they try to never convert any money to Rial, because it just goes down.”

Would You Ever Buy Things With Crypto?

While it’s not the wisest financial decision, crypto payments can provide an alternative transaction method for those who don’t have the necessary requirements for opening a bank account, or can’t access traditional financing in a certain place. For example, unbanked people can transfer money to others, even internationally, using their crypto wallets, or make purchases using crypto with participating merchants using apps like BitPay, all without the need to go through traditional financial institutions.

Some people may also choose to buy goods with crypto to capitalize upon the speed of transaction. Globally, “a lot of deals are being made with crypto,” Danial says. “Like, maybe a prince in Dubai wants to buy a Lamborghini from Italy, and wants it immediately and doesn’t want to wait for deposits and bank information and everything, so they purchase it using crypto.”

Crypto transactions are also relatively anonymous — which is why they have a reputation as being used by criminals to buy and sell on online black markets. Crypto’s prevalence as a form of payment for illegal trades persists. It played a role in recovering the Colonial Pipeline — a key gas line servicing the U.S. Gulf and East Coasts — last month, after hackers shut down its computer systems until they were paid $4.4 million in Bitcoin. The U.S. government has since seized back $2.3 million of that ransom fee (most of what was originally paid, since the price of Bitcoin has dipped recently). 

As for businesses willing to accept payment in crypto, expect to see more as Bitcoin and other cryptocurrencies grow in popularity. Some companies may be looking to cash in on the latest craze, or take part in the novelty of a new payment form, while others believe cryptocurrency is the way of the future. A bullish perspective on the future of crypto was behind Tesla’s recent decision to begin offering the option to pay with Bitcoin, although the company declared it would stop accepting Bitcoin payments for cars last month, citing concerns about its environmental impact. 

There may be a future in which digital currencies become more commonplace forms of payments, but for the average American crypto investor considering paying for groceries in crypto, “I think we are not there yet,” says Danial. 

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XRP (CURRENCY:XRP) traded down 1.3% against the U.S. dollar during the one day period ending at 17:00 PM Eastern on March 2nd. During the last seven days, XRP has traded 7.8% lower against the U.S. dollar. One XRP coin can now be purchased for approximately $0.43 or 0.00000905 BTC on major cryptocurrency exchanges. XRP has a total market capitalization of $19.62 billion and $3.40 billion worth of XRP was traded on exchanges in the last 24 hours.

Here is how other cryptocurrencies have performed during the last 24 hours:

XRP Profile

According to CryptoCompare, “The Ledger and ConsensusThe Ripple protocol is, at its core, a shared public database. This database includes a ledger, which serves to track accounts and the balances associated with them. The ledger is a distributed database — a perfect, shared record of accounts, balances, and transactions in the Ripple protocol. It is continually and automatically updated by the Ripple Transaction Protocol (RTXP) so that an identical ledger exists on thousands of servers around the world. At any time, anybody can review the ledger and see a record of all activity on the Ripple protocol. When changes are made to the ledger, computers connected to the Ripple protocol will mutually agree to the changes via a process called consensus. The Ripple protocol reaches consensus globally within seconds of a change being made. The consensus finding process is the engineering breakthrough that allows for fast, secure, and decentralized transaction settlement on the Ripple protocol. The World’s First Distributed ExchangeNo one owns or controls the Ripple protocol. It runs on computers around the world, all working together to continually maintain a perfect, shared record of accounts, balances, and transactions. Distributed networks offer many efficiencies over centralized networks. Because the network is “self-clearing”, it eliminates the need for a centralized network operator (and gets rid of the associated layer of fees). Because there is no single point of failure, distributed networks are more reliable. They also tend to be more secure, due to their open source nature.       “

Buying and Selling XRP

It is usually not presently possible to buy alternative cryptocurrencies such as XRP directly using US dollars. Investors seeking to acquire XRP should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy XRP using one of the exchanges listed above.

XRP, a cryptocurrency that is primarily built for transactions, which can be purchased on crypto exchanges. XRP derives from Ripple, a payments platform designed for the rapid settlement of transactions and affordable cross-border remittances, which aims to supplement and redefine the current financial system.

Ripple has been popular with global banks and services. However, in December 2020, the US Securities and Exchange Commission (SEC) filed a lawsuit alleging that Ripple had conducted unregistered securities offerings by selling XRP. In its complaint, the SEC said Ripple sold 14.6 billion “units” of XRP for $1.3 billion. Later, a number of exchanges, like Coinbase, Kraken suspended trading of XRP or delisted the asset. Since then, xrp was down over 65% (on Bexplus ).

*A security is an investment contract; if the creators of a cryptocurrency advertise it as an investment to US buyers, then the SEC considers the coin to be a security under US law.

Towards the allege from the SEC, Ripple has disproved the SEC’s argument and issued a response stating that as a cryptocurrency XRP is out of the SEC’s jurisdiction, and it has already been recognized as a virtual currency by several other worldwide regulators, including those in the UK, Japan, and Singapore.

Last week, the SEC refused to provide documents related to Bitcoin and Ethereum, arguing that the request has nothing to do with this case. However, Ripple Labs submitted a response letter to Magistrate Sarah Netburn on March 26th, requesting the SEC to submit the required documents. Because they don’t understand why Ripple is considered a security, while Bitcoin and Ethereum are not?

A lot has happened in the three months since the case. In particular, the price of Ripple has been damaged and has been suspended by key partners and many exchanges. However, as the case progressed, to some extent, the price of Ripple has recovered from a low of $0.18.

From the current situation, there are mainly four motions in this case. The first is to force the company to discover documents related to the financial information of CEO Garlinghouse and Chairman Larson. The second is the motion of the SEC against Ripple’s fair notification defense. The third is Garlinghouse and Larson’s motion to dismiss the lawsuit against them. Finally, Ripple filed a motion on why the SEC took 8 years to take legal action.

Deaton Law’s lawyer John Deaton has filed a motion to alleged SEC of misrepresenting the XRP holders as he asserted, “The SEC allegations are riddled with material misrepresentations about XRP Holders; their reliance on Ripple, their use of XRP, and their independent development of the XRP ecosystem.” In response to the objection, the SEC has to file the defense papers about the motion by May 3 and Federal Judge Analisa Torres will be giving a decision whether this motion can be granted by May 17.  

The cryptocurrency industry and investors are watching the SEC’s lawsuit against Ripple for not only the determination of XRP’s legal status but for any legal precedent it could set for other cryptocurrencies. XRP is currently the sixth-largest cryptocurrency in the world by market capitalization which is more than US$40 billion. The price of XRP has increased by almost 36% in the past week and is currently trading at US$1.35 as of writing, which is three times the level in December before the lawsuit.

A possible reason why the holders have been vigorously calling on the relist of XRP may be due to the new progress in this case. The judge questioned the SEC attorney, “everyone who sold XRP – including you and me – are selling illegal securities”. The SEC lawyer responded, “no, under Section 4, only Ripple and affiliates of Ripple can have sold XRP illegally”, and that “everyone who sold XRP” was not selling “illegal securities”. The answers of the SEC attorney can be interpreted that crypto exchanges based out of the US will not be responsible for the XRP selling and trading. However, only the final result will tell if the US exchanges “relist” XRP.  

The analysts at Bexplus believe that even if XRP loses the lawsuit, the price of XRP should not fall to the situation where it was litigated at the beginning, because so far, not all exchanges have delisted the currency. For example, exchange giant Binance still supports XRP trading, and Huobi supports the purchase and selling of XRP.

At present, in response to the call of traders, Bexplus has taken the lead in relisting XRP trading. Bexplus is a global cryptocurrency derivatives trading platform established at the end of 2017. It offers 100x leveraged futures trading on BTC, ETH, LTC, EOS, XRP, etc. It is running a 100% Deposit Bonus event for every new user. 

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I publish syndicated news from around the globe to help your crypto trading knowledge.

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Lykke, a cryptocurrency exchange based out of Switzerland is the first exchange that has decided to re-list XRP. CEO, Richard Olsen took to Twitter to claim that:

We are thrilled to RelistXRP – bridging the gap of traditional finance with the new world of blockchain is our mantra and #XRP is foundational to achieving this goal; it is a milestone that regulation allows us to relist, a big step forward.

On 18 January, Lykke had halted XRP trading and deposits, due to the US Securities and Exchange Commission’s lawsuit against Ripple. After the news of the lawsuit broke, other major exchanges like Coinbase and Binance US had also halted XRP trading.

XRP supporters had earlier taken to Twitter to urge crypto exchanges to “Relist XRP” a hashtag that went viral on the social media app. It was a top-trending topic in the Netherlands, with more than 35,000 tweets about the same. Meanwhile, in the US, one Twitter user pointed out:

— CryptoBull2020 (@CryptoBull2020) March 21, 2021

A possible reason why XRP supporters have been actively attempting to make exchanges relist the asset could be due to new developments in the Ripple-SEC case. On 23 March, the judge questioned the SEC attorney that, based on his theory, “everyone who sold XRP – including you and me – are selling illegal securities”. The SEC lawyer responded, “no, under Section 4, only Ripple and affiliates of Ripple can have sold XRP illegally”, and that “everyone who sold XRP” was not selling “illegal securities”.

The statements by the SEC lawyer can be interpreted that exchanges based out of the US will not be held liable for the sale of XRP. However, only time will tell if the US exchanges “relist” the popular altcoin.

Earlier, XRP petitioners even claimed that due to the lawsuit against Ripple, they suffered “multi-billion-dollar” losses, a reason why they attempted to amend the SEC’s complaint about the status of XRP.

At the time, regulators stated the investors cannot prove that crypto exchanges “will reverse course, or that XRP’s price will appreciate, should the Commission make the amendment.

At press time, XRP was trading at $0.549810 and has been up by 9.3% in the past 24 hours.

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Alisha is a full-time journalist at AMBCrypto. Her interests lie in blockchain technology, crypto-crimes, and market developments in Africa and the United States

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The price of XRP — the native cryptocurrency of the XRP Ledger — entered May at US$1.57 and is up over 600% since the start of 2021, even as Ripple Labs released one billion XRP this weekend from its escrow wallet.

Two batches of 500 million XRP, valued at a total of US$1.59 billion, were unlocked from Ripple’s escrow wallet on May 1, according to Whale Alert, a service that tracks large value cryptocurrency transactions. 

While some Twitter users immediately feared that a “dump” was imminent and XRP prices would fall given the additional supply of XRP that was being put into circulation, other users pointed out that the transactions were part of Ripple’s monthly XRP escrow release and would be subsequently relocked.

The release of one billion XRP each month is not new. Ripple has locked 55 billion XRP, or 55% of the total possible supply, into a series of escrows that release one billion XRP every month, according to a Ripple blog post from 2017. These escrows are on the ledger itself and the ledger mechanics, enforced by consensus, control the release of the XRP. 

The XRP escrow is designed to provide predictability to the XRP supply by maintaining an upper limit on the amount of new XRP that can be released for circulation. The actual amount of XRP released into circulation is usually less than one billion XRP and the leftover XRP each month is placed into a new escrow. 

Since January 2018, one billion XRP has been released each month. In 41 months, Ripple has released 41 billion XRP, of which 33.7 billion was returned into escrow, and 822 million on average has been re-escrowed every month, according to XRParcade.

This month, 100 million XRP was transferred to Ripple and 900 million XRP was returned to escrow, according to Whale Alert. 

XRP prices, currently at about US$1.60, have been relatively stable, within the 24-hour trading range of US$$1.54 to US$1.62 as of publishing time. XRP prices surged by almost 200% in April from US$0.55 at the start of the month to US$1.63 on April 30. XRP is currently the fourth largest cryptocurrency in the world with a total market value of about US$74 billion, which is about 3% of the total cryptocurrency market value.

The price of XRP, which was the third-largest cryptocurrency in the world by market value, initially plummeted by more than 60% after the U.S. Securities and Exchange Commission in December 2020 filed a lawsuit against Ripple — which in turn caused U.S. cryptocurrency exchanges to delist the XRP token. XRP holders have since filed a motion to intervene in the SEC v. Ripple lawsuit as a third-party defendant in a bid to protect their interests. The lawsuit is currently in its discovery phase, with each side trying to obtain more information from the other side and limit what information must be shared. 

XRP prices rallied on Friday following a discovery hearing regarding the SEC’s use of formal requests to foreign regulators to obtain information on Ripple and XRP concluded with the judge saying she needed more time to make a ruling. 

The SEC’s lawsuit against Ripple is being closely watched by the XRP community and the cryptocurrency industry not only because of its potential impact on XRP investors, but also the legal precedent it could set for other cryptocurrencies. 

See related article: SEC seeks to knock out Ripple defense, says no duty to warn over XRP

But despite its legal troubles in the U.S., XRP has remained popular in parts of Asia, such as in Japan, and elsewhere outside the U.S.

SBI Holdings — a Tokyo-based financial services group that has a joint venture SBI Ripple Asia with Ripple — will be giving shareholders who have held for more than a year, 1,000 or more shares or 100 shares or more shares, the equivalent of JPY8,000 and JPY2,000 in XRP respectively, according to the company’s financial report on its fiscal year that recently ended. SBI, which started its security token business with Boostry in May last year, will also be allocating XRP to investors who purchase its first security token offering launched on April 19. 

Ripple has also been trying to expand its presence in the Asia Pacific payments market through acquisitions and partnerships, most recently with Novatti, a digital banking and payments company that is listed on the Australian Securities Exchange. 

See related article: Ripple partners with Novatti to use XRP for remittances in Asia Pacific

Despite being delisted by U.S. cryptocurrency exchanges, XRP remains available on the Zurich-based SIX Swiss Exchange, Switzerland’s principal stock exchange and Europe’s third largest as an exchange traded product issued by CoinShares, Europe’s largest digital asset investment firm.

See related article: Europe’s CoinShares launches XRP exchange traded product

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A total of  104.7 million   XRP was transferred by leading blockchain company Ripple and top crypto exchanges Binance, Huobi and others  .

Meanwhile, in the past 24 hours, XRP has risen over 10 percent due to the recent Ripple announcement.

Data provided by Whale Alert shows that Ripple has carried 97.1 million XRP in the past 20 hours along with Bitstamp, BitGo and several other major crypto platforms.

The total equivalent of the transferred XRP amount is $ 163,792,605 in fiat currency.

Ripple sent 15.2 million XRP to China’s largest crypto exchange Huobi through its RL18-VN wallet.

Another 10 million XRP was moved by Ripple to one of its internal wallets, RL43-EE, and possibly shipped further later.

A total of 20 million XRP has been moved by Bittrex to the South Korean-based crypto exchange Upbit. Ripple ODL corridor Bitstamp exchanged 44.5 million XRP with custody service BitGo.

The fourth largest cryptocurrency XRP saw a 16% increase after SBI Group CEO Yoshitaka Kitao recently said Ripple co-founder Chris Larsen plans to launch the company’s IPO after its legal cases with the SEC are over.

According to the data provided by the CoinMarketCap platform, XRP is trading at $ 1.61 as of the time of writing.