An interesting cryptocurrency-related discussion has been taking place on Twitter recently. Various XRP users have been pleading with Binance to use the digital asset as one of its base currencies. However, it should be made clear that nobody is looking to replace Bitcoin with XRP, but rather use the asset as an additional trading market option.
XRP is Making Inroads
In the world of cryptocurrency trading, there are very few base trading pairs. In most cases, they include fiat currencies, Bitcoin, and Ethereum. The list ends there, but that situation may come to change fairly soon.
If the XRP community has any say in the matter, Ripple’s digital asset will form many new trading pairs on Binance in the coming months and years. Various members of the XRP community have been actively requesting Binance to have the exchange add XRP as a base trading currency.
This move technically makes some sense, particularly because of the speed, liquidity, and nearly non-existent fees that XRP has to offer. In addition to all this, the overall demand for exposure to Ripple’s asset has also grown significantly in recent months.
This particular “campaign” is getting support from where people least expected. Weiss Ratings, the firm issuing official ratings on blockchain projects, is a big proponent of XRP. The firm sees merit in Binance making Ripple’s asset one of its few base trading markets.
It would be good to see different cryptocurrency exchanges introduce more base trading pairs. Bitcoin and Ethereum only represent a fraction of the entire cryptocurrency ecosystem. While XRP may not necessarily be the best choice to add, it would certainly be an interesting social experiment, if nothing more. However, with that being said, Binance is not necessarily inclined to take such an unnecessary gamble at this stage.
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