Not all cryptocurrency connoisseurs are fans of bitcoin , this is due to its low transaction capacity per second. On the other hand, do you know what Ripple is and why it has grown in the market? Precisely because it can carry out 1500 transactions per second .
In other words, Ripple is considered a secure and fast payment protocol for financial transactions. As well as, its native Ripple currency is XRP.
But why is Ripple the new “darling” of the cryptocurrency market? What are the advantages of it? We will explain it below.
In other words, Ripple is considered a secure and fast payment protocol for financial transactions. As well as, its native Ripple currency is XRP.
But why is Ripple the new “darling” of the cryptocurrency market? What are the advantages of it? We will explain it below.
How does Ripple work?
Ripple is used to make transfers between various types of assets , such as gold, bars, flats and other currencies, such as bitcoin itself.It is no coincidence that more than 100 physical banks have become Ripple partners, increasing the value of the currency. Santander, American Express, MoneyGram, BBVA, BeeTech and Itaú are some of the entities that are part of Ripple .
In addition, due to the great agility of transactions per second, the asset has a digital blockchain system for intercommunication between banks that is faster and more secure than other similar tools on the market.
On the other hand, those who want to mine the cryptocurrency will not be able to do so, since XRP is centralized by the company itself , Ripple Labs, where several servers process and verify transactions.
Furthermore, as in the case of bitcoin, in Ripple there is a limit on the production of cryptocurrencies. 100 billion XRP have already been created, much of which is in Ripple's own treasury. There are currently just over 43 billion XRP in circulation.
What are the main advantages of Ripple?
Transaction speed
The use of its own servers means that Ripple validates its payments in a very short time , that is, fractions of a second.Versatility
Any user can buy or sell coins anywhere.Low transaction fee
Ripple's fees are lower than most currencies . Even if there is an increase at a certain time of the year, the values will still be considered lower than other cryptocurrencies.Financial institutions as clients
With physical and well-known banks in the financial market, Ripple gains visibility and, therefore, greater trust among consumers.Is Ripple worth buying?
Now that you know what Ripple is, think about whether it is worth investing in purchasing the currency. In this case, everything will depend on the investment period and the risks that this wait entails. This is because there are chances that the decline will continue for several weeks.
Internationally, Ripple trading takes place through Bithumb, Bitfinex, Poloniex, Bitstamp and Binance, with payment in bitcoin or dollars .
Another drawback is that the asset is not regulated in Argentina, so it is necessary to know which company will be in charge of mediating communication between buyers and sellers.
Also, think about your future goal, for example, how much you want to earn in a certain period , for example one or five years. This way, you will have a more detailed view of where to make the best investment.
How to buy Ripple?
In Brazil, the best way to buy is through BTC on platforms such as Mercado Bitcoin and Foxbit. Then it is advisable to exchange the currency for IOTA in exchange houses.Internationally, Ripple trading takes place through Bithumb, Bitfinex, Poloniex, Bitstamp and Binance, with payment in bitcoin or dollars .
And what are the risks?
There are two detrimental factors about Ripple that potential users should be aware of. First of all, prices can fluctuate , even if the rates are low, this is because the platform does not belong to a specific place.Another drawback is that the asset is not regulated in Argentina, so it is necessary to know which company will be in charge of mediating communication between buyers and sellers.
Is Ripple better than Bitcoin?
No. This is because Bitcoin remains an independent cryptocurrency , as it does not need the “response” from other systems. XRP, for its part, seeks to consolidate itself in the market, which is why it intends to ally itself with renowned banks . Therefore, regulatory bodies can restrict some addresses, ordering the company Ripple Labs to block them.How to choose between XRP and other cryptocurrencies?
The best way to choose the ideal brokerage company to buy cryptocurrencies is to evaluate all possible criteria . In this article we point out the advantages and disadvantages of Ripple . Therefore, compare the value of the rates, the security offered, the evolution of each platform and the satisfaction of older customers over the Internet.Also, think about your future goal, for example, how much you want to earn in a certain period , for example one or five years. This way, you will have a more detailed view of where to make the best investment.
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