They will interrupt and alter the $1 billion in sales automobile repossession sector in a manner that has not been seen before by engaging the involvement of money lenders, auto repossessed businesses, and a network of users who are incentivized by bitcoin. It’s always a good idea to diversify your cryptocurrency portfolio. And if you want to reduce risk and hedge your investments, selecting altcoins with negative correlation to Bitcoin overall is a sensible idea. Binance Coin, KuCoin Shares, and Huobi Token, like DGTX, are all altcoins with negative correlation to Bitcoin generally. Exchange tokens, unlike other utility tokens or security tokens, have clear use cases. DataLight recently carried out research on the top 100 coins to find out which ones displayed the least correlation to Bitcoin over time.
The Repo Coin project is not fundraising through an ICO but plans on allowing participants to earn their tokens instead. This avoids the public sale FOMO frenzy that gets people throwing their money around. However, it has still acted consistently differently from BTC from April 2018 to March 2019. With a solid use case to connect smart contracts with real-world data, LINK hasn’t really noticed the rest of the crypto winter, performing well even against the general market trend and falling BTC price.
The company is founded by Fahim Aref, Sana Othman and Mohammad Majid. It is located in Sheridan, Wyoming and is registered under the name of Repo Blockchain LLC. He is a blockchain aficionado who is now concentrating on next-generation blockchain-based apps and cryptocurrencies, as well as other blockchain-related topics. The Repo Coin team is composed of creative thinkers with a track record of bringing technology concepts to fruition, as well as decades of expertise in the auto repossessed business.
- In fact, its negative correlation comes from the fact that it has performed substantially worse than BTC each time Bitcoin’s price has improved.
- It is a strategy that will lead in the speedier and more efficient collection of assets for car lenders by putting together a wide community of people who are driven by cryptocurrency rewards to aid in locating delinquent autos.
- In fact, today, as BTC and most major altcoins are trending to the red, Digitex is up almost 4% at the time of writing.
- Binance Coin, KuCoin Shares, and Huobi Token, like DGTX, are all altcoins with negative correlation to Bitcoin generally.
- DataLight recently carried out research on the top 100 coins to find out which ones displayed the least correlation to Bitcoin over time.
Despite the fact that the amount of new housing loans has declined drastically since 2008 as a result of the financial crisis and new mortgage industry restrictions, the contrary has been true in the case of auto loans, which have climbed at an exponential rate since 2012. The post Check out the top five altcoins with negative correlation to Bitcoin appeared first on Coin Rivet. This https://cryptolisting.org/ serves as a reminder of a couple of salient points, mainly that the cryptocurrency market is so new and fluctuations and changes may be based on the stage of a project and surrounding media, announcements, and development – rather than a consistent negative correlation. As of 2017, a record 107 million Americans had outstanding auto loans, according to the New York Federal Reserve.
Additionally, not much information is available about the auto repossession industry, despite it being a $1 billion market. Because of this, it has been largely overlooked when it comes to the kinds of major technical advances that banks and lending agencies have seen over the past several years. The Repo Coin ecosystem will enable lenders and repossession companies to work together more effectively and with more transparency using our blockchain platform with smart contracts on the Stellar network.
However, it also includes the acts of taking a car back when the time comes according to the terms of a deal. The services of car retrieval are widely used to get the cars used as collateral for a loan from its registered owner. The industry of car repossession grows alongside the growing amount of both auto loans and delinquent loans. The Repo coin project aims to provide a platform that will make it easier and cheaper for companies to retrieve the loaned vehicles. LPR technology is used by the auto repossession companies to scan license plates while driving around in order to identify delinquent vehicles. We will streamline the auto repossession process and the exchange of information between auto lenders and repossession companies by using smart contracts on our blockchain platform.
The ones with the strongest use case even in a bear market, such as exchange tokens, appear to make an excellent choice. In volatile markets like cryptocurrency, nothing is set in stone. However, the cryptocurrency market had a swing to the upside just days after the report’s release. While auto repossessions require the work of a highly skilled professional, these jobs can be completed quickly, many of them within 3 minutes of arriving at the vehicle’s location. The application is entirely free to use and most financing of the platform will come from financing companies looking for lost assets.
The top five altcoins with negative correlation to Bitcoin
With smart contracts we can eliminate the delays and additional fees that often occur as a result of inefficient communication practices, where repossession companies end up storing vehicles for some period of time before they are returned to the lender. By reducing the cost of investment for lenders, designers hope to improve the speed and performance of the repossession process, as well as the flow of information between lending institutions and auto repossession businesses. All users will have the ability to scan licence plates and rapidly identify delinquent automobiles, which will then be compared against our real-time database of overdue vehicles across lenders across the United States. However, not all cryptocurrencies follow the same patterns as Bitcoin.
You can, however, utilise markets such as LocalBitcoins to first acquire BTC, and then complete the remainder of the procedures by moving your BTC to the appropriate AltCoin exchangers. If you’re looking for a place to purchase REPO, the best cryptocurrency exchange to use right now is BitMart. Bitcoin Gold also makes the list, but not because it has outperformed Bitcoin. In fact, its negative correlation comes from the fact that it has performed substantially worse than BTC each time Bitcoin’s price has improved. Digitex Futures is a few weeks away from launching its commission-free futures exchange.
Are there any quick ways to buy REPO in Europe?
With increased access to this kind of technology, the hassle and expense that comes from locating delinquent vehicles would be greatly reduced, and auto repossession companies could focus solely on recovering assets. This would bring down service costs for auto lenders and significantly increase the overall efficiency of the repossession process. The Repo Coin mobile app will provide easy to use license plate scanning and recognition technology to a large community of users across the country, entirely free of charge. More importantly, our app will reward users with Repo tokens as a direct incentive for helping to locate delinquent vehicles, which can then be used to purchase goods and services on our website, repocoin.io. The car lending and repossession industry is a network of businesses that primarily includes the acts of lending an automobile for relatively short periods of time (from hours to couple of weeks).
The current approach to the auto repossession is not meeting the expectations of the auto lenders. It is not highly effective and is too demanding in terms of price. The main problem of the approach is its complex and costly location process.
Their findings revealed the top five altcoins with negative correlation to Bitcoin from April 2018 to March 2019, and why that might be the case. It is impossible to predict what Repo Coin will be worth in five years. The cryptocurrency market is highly volatile and can be affected by a variety of factors, such as US dollar policy, government regulations, technological progress, market sentiment, Repo Coin’s circulating supply and the development of project ecology. Therefore, it is impossible to accurately predict the price of Repo Coin 5 years from now.
REPO Price Chart
Because of this, entities such as banks, auto loan companies, used car lots, car dealerships, and car rental agencies all have an increasing need for auto repossession services. Most of these companies outsource this work to businesses that specialize in the difficult task of repossessions, but this comes with its own host of repocoin problems. Outsourcing the work of repossessions has proven to be necessary for most auto lenders due to the difficult, sometimes dangerous nature of this work. By partnering with auto lenders across the country we plan to create the most comprehensive real-time database in existence for determining if a vehicle is delinquent.