Coinmotion Crypto Exchange: XRP Is Not A Crypto Currency
According to the representatives of Finnish cryptocurrency exchange Coinmotion, XRP asset developed by Ripple is just an internal currency of an app network.
According to the crypto currency exchange representative, investing in XRP looks more like buying securities than investing in a digital assets, additionally, the representatives pointed out that it has high risks which the other crypto currencies don’t have. The exchange representative states that XRP is different from a cryptocurrency because it isn’t blockchain-based, it has no miners and it is extremely centralized. Ripple Network is a complex of various apps designed by Ripple Labs, and XRP is just network’s internal currency.
It is worth noting that Ripple’s representatives haven’t responded to the message yet, also, token’s independence from the company and absence of any similarity with securities are always highlighted in their statements.