XRP community calls for adoption of the currency as a base pair in Binance

 

XRP community calls for adoption of the currency as a base pair in Binance

The XRP community on Twitter has begun a team effort to rally for adoption on exchanges, and are focusing on Binance. While the third-largest cryptocurrency has been listed on a variety of exchanges, there are very few which utilize its specific use-cases for trading and treat it like another digital asset.

However, the landscape for use-cases of XRP is changing, as seen by the smattering of listings XRP has seen as a base pairing over the month. The currency was determined to be the base pair on the institutional grade exchange DCEX, where users can trade it for other prominent cryptocurrencies such as Bitcoin [BTC], Ethereum [ETH] and Litecoin [LTC].

XRP was also added as a base pair at the launch of Bitrue, representing a movement into the cryptocurrency as the first step. Unodax, an Indian cryptocurrency exchange, also added XRP as a base pair, among Bitcoin and Ethereum, when the Reserve Bank of India began restricting fiat-to-crypto trading. Earlier, a Twitter poll by Weiss Ratings, an institutional grading firm, ranked XRP as the most likely asset to be used for moving funds between exchanges. A whopping 78% of all users who voted on the poll voted for XRP, with only 8% voting for Ethereum and 6% for Bitcoin.

The driving force behind these changes is the ability of XRP to move value easily. This is due to its fast settlement speed, close to 4 seconds, and virtually non-existent transaction fees. When compared with other heavyweights such as Bitcoin and Ethereum, XRP is almost instantaneous in its settlement speeds. Moreover, the token was built to move value quickly, as seen by Ripple’s vision for the Internet of Value and developments such as the InterLedger Protocol.

The XRP community believes that the value proposition for XRP will only grow stronger in the future, as more features are added to the ecosystem. There already exist innovations such as the XRP Tip Bot, created by Wietse Wind, which allows users on Twitter and Reddit to tip others with XRP in seconds.

Arguably, XRP is also not subject to shifting transaction fees like Bitcoin and Ethereum and offers a much more stable experience for sending and receiving value.

The XRP Community on Twitter is especially rallying around these principles, with crypto-influencer C3 Nik leading the charge. He recently tweeted:

“We would like to see #XRP as one of the base assets on @Binance in order to move value much more quickly! Please do it @cz_binance ! Let’s get some retweets to let them know.”

Community member Alex Cobb joined in, stating:

“It would help out there platform 100%. much cheaper and much faster.”

As a customer of Binance, Crypto Couple stated:

“We’re on @Binance, too. With #XRP as a base we would use this exchange a lot more. XRP is great for shipping your currencies around, cheap & fast. Perfect base. We avoid BTC when we can, the fees are ridiculous. BTC is a collector’s item, XRP is the best bridge. Love that coin.”

Another active member of the XRP community, PandaRippleXRP on Twitter stated:

“Dear @cz_binance, @binance, Does #binance has any plan to add #XRP as base pairing? This is to facilitate high transaction volume as many will question the prolong transaction time during the dip/moon period. Ultimately is to provide your customer a better user experience”

Prominent XRP enthusiast Crypto Joe said:

“This would be a GREAT step in retaining #1 trading volume position, as more and more exchanges are adding XRP as base pair, inclusing the mastodont SBI VC Trade platform. Also, XRP lets your userbase enjoy the benefit of low latency/-fee transactions. Thank you.”

However, Binance has not replied to date. It is left to see whether any changes will be made, as making XRP the base pair on the exchange will allow users to see a significant ease of access.

The post XRP community calls for adoption of the currency as a base pair in Binance appeared first on AMBCrypto.