On the 10th of August, Ethereum World News ran a story as to why the XRP community wanted their favorite coin added as a base currency on Binance. One twitter user – @C3_Nik – specifically requested Biannce CEO, Changpeng Zao via the following words:
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 following reasons were the basis of the XRP community requesting the Binance CEO to facilitate the addition of XRP as a base currency:
- It would help Binance for it is faster (3.3 seconds) and cheaper
- A base currency of XRP would bring in more users to the exchange
- XRP is the fastest digital asset to transfer funds between exchanges
- Other exchanges are continually warming up to XRP as a base currency
- XRP would attract the big money movers – also known as whales – who’d increase the trade volume of the exchange: a win-win situation
- It is the natural and progressive thing to do given the popularity of XRP
It is with this background that the Weiss Rating firm has reiterated the request to have Binance add XRP as a base currency on the exchange. Weiss Rating tweeted the following in support of the idea:
We think that the #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? #crypto #btc #altcoins
— Weiss Ratings (@WeissRatings) August 10, 2018
About Weiss Ratings
Weiss Ratings was founded in 1971 by Dr. Martin D. Weiss which initially reviewed U.S. banks for consulting clients and newsletter subscribers.The acquisition of the bank ratings division of T.J. Holt & Company in 1987 launched Dr. Weiss into the rating business, and later that year the company published its first guide rating 13,000 banks and savings and loans. The firm has evolved over the years to also rate stocks, mutual funds, ETFs, financial institutions and most recently, cryptocurrencies.
Weiss Rating’s mission is to empower consumers, professionals, and institutions with high quality advisory information for selecting or monitoring a financial services company or financial investment. The firm adheres to the highest ethical standards by maintaining an independent, unbiased outlook and approach for their customers.