Cryptocurrency exchange PayBito has added Ripple’s XRP to its platform, expanding the portfolio of crypto assets listed under it. This recent addition escalates the trading options for all of PayBito’s global users. The USA based cryptocurrency exchange platform has the world’s leading crypto coins listed under it and has been on an expansion mode since the beginning of the year.
“PayBito is always open to listing cryptocurrencies that have displayed trading credibility and potential for immense growth, provided they meet the regulatory directives. The addition of new coins helps us to serve our users better by allowing them easy access to varied trading options. It also encourages people to diversify their crypto portfolio which ultimately benefits the mainstream adoption and growth of cryptocurrencies and crypto trading,” mentioned Raj Chowdhury, Managing Director, PayBito Exchange.
- PayBito’s Eligibility Criteria for Coin Listing:
PayBito follows a strict set of guidelines and regulatory standards when listing cryptocurrencies within their exchange, to maintain transparency and authenticity of the process and also to ensure that the users have seamless trading experience. The eligibility regulations require a crypto to have:
1. An efficient team of developers and business executives with a reliable background
2. Proof of credibility that its underlying technology functions with ease, delivering benefits to the traders while generating value
3. A consensus mechanism
4. Details on the operating expenses and potential scalability options
5. Future revenue generation model with a profit margin
6. A strong market presence and demand along with an advantageous market distribution analysis
7. A blockchain network that meets the specific standards concerning market capitalization changes, transaction fees, and nodes.
8. Adherence to all regulatory compliances
The coin to be listed should be able to provide PayBito with a comprehensive whitepaper with details on all of the above-mentioned.
- A Brief Review of XRP:
Launched in 2012, XRP is a crypto asset that runs on RippleNet, the real-time gross settlement system (RTGS) and remittance network created by Ripple Labs Inc. XRP Ledger is the underlying open-source distributed ledger database of RippleNet.
XRP provides the traders and financial institutions with the most reliable and fastest option to source liquidity on demand. It is a digital asset that is built for payments, native to the XRP Ledger.
XRP was created by Ripple to be faster, more cost-effective, and a scalable alternative to other crypto assets as well as existing monetary payment platforms.