XRP’s Community Pushing for Binance to Adopt XRP as Base Currency
Binance is running well, as it currently has a 24-hour trade volume that is worth $1.108 billion. The exchange trades base currencies such Bitcoin (BTC), Ethereum (ETC) and Tether (USDT) and even its Binance Coin (BNB). The XRP community has taken another step, and that is an online campaign to add XRP as the base currency on the exchange. Twitter user @c3_Nik asked of Chanpeng Zhao, the exchange’s CEO:
“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.”
The tweet has garnered a great deal of attention – it has received over 800 retweets and 950 likes. Further, XRP fans commented on the tweet reasons why Binance should as XRP as the base for trading. A few of the main reasons are that XRP is faster and cheaper, XRP is commonly used by exchanges as a base currency, XRP attracts big money movers, and it is the natural and progressive option considering the popularity of XRP.
Further, in a poll conducted by Weiss Ratings on July 20, 2018, 78 percent of participants found that Ripple’s XRP was the best for moving funds between exchanges. Further, Juan Villaverde, a member of the rating firm, thanked the XRP community for convincing him to start using XRP to move funds between exchanges. He stated,
“Thanks, guys! You’ve convinced me. I now use XRP myself to move money between exchanges. No wait for confirmations. Really fast.”
Given the circumstances, it may be best that the XRP community continue pushing for Binance to implement XRP as a base currency on its exchange.