Ripple is one of the most known cryptocurrencies, it’s among the 5 most used cryptocurrencies in the world, its also known under the acronym XRP, it was created by the company Ripple Labs, so it isn’t an entirely decentralized currency, since itÕs still under its creators control, however, the company status does not affect Ripple.
What does Ripple offer?
By being designed to improve banking transactions, cryptocurrencies also allow to make payments, and/or cross-border monetary movements in a safe, instant and economic way, therefore, itÕs considered a necessary tool for banking institutions, this is why these kinds of organizations are on alert for new economic strategies, which is why they have come to invest very large sums in Ripple.
Companies like Google and Santander, have invested more than 150 million dollars in this cryptocurrency and in helping to develop its technology, therefore, it’s a cryptocurrency that in a certain way, is supported by some of the largest companies in the world.
Ripple aims to completely eliminate every fault and problem that other known cryptocurrencies have, which is why the group that leads said cryptocurrency has decided to design an innovative and pioneering system, which has served as a base for other cryptocurrencies that are currently being developed, but which aren’t as profitable, and don’t have economic support from stable multi-million dollar companies, as Ripple does.
What are its current uses? (ripple – xrp)
Ripple is currently used for various purposes, unlike Bitcoin, it’s more useful for making purchases on the Internet due to its low transaction costs, which are much more affordable than for Bitcoin.
This is one of the reasons why many investors and people who know about the subject, have decided to switch to the XRP system. Clearly, Bitcoin currently continues to have more transactions, but this is due to the fact that Bitcoin has far more investors than Ripple, however, in statistical terms, Ripple has more transactions than Bitcoin itself.
More than 50 entities are using the Ripple platform, to improve their user’s service, these organizations include:
- – BBVA.
- – Google Ventures.
- – Cambridge Global Payments.
- – YES BANK.
- – Banco del Eje.
- – SEB.
- – Star One Credit Union.
- – eToro.
- – Santander.
- – Crédit Agricole.
- – Others.
What is Ripples profitability?
One of the main reasons why this cryptocurrency is so profitable is because it has very low transaction costs in comparison to rival cryptocurrencies, therefore, many people prefer to use it when making Internet transactions, to save movement costs. Thanks to this, this cryptocurrency usefulness goes beyond just saving it, and is, therefore, becoming one of the most wanted ones in the market.
Like any cryptocurrency, it’ll have its ups and downs, however, Ripple’s profitability is considerable or at least that’s what experts suggest, who state that it’s a favorite with investors.
Experts also state that Ripple’s forecast for 2018 is positive since everything suggests that this cryptocurrency will double its value that year.
Advantages of using Ripple
When using the XRP monetary system, dependence on the institutions that control monetary movements decreases, however, Ripple does not reject the participants that correspond to regulated institutions, which is why there’s a series of banking entities that use Ripple.
Ripple is designed to connect all payment systems in their network, which is why it’s considered one of the most useful systems, it is also forecasted that it may become an exceptional complement to the first worldwide cryptocurrency; Bitcoin.
Is the Ripple system safe?
Unlike other cryptocurrencies; Ripple has a great legal acceptance, due to a large number of financial entities that have begun using the XRP system, therefore the cryptocurrency platform us more stable, which is why the system’s investors contribute constantly obtain improve Ripple continuously.
How to get Ripple?
This cryptocurrency cannot be obtained under any free means, it doesn’t have a mining option like Bitcoin, therefore if you want to invest in Ripple, you need to exchange or buy this cryptocurrency, through exchange centers, to do this you need to trust the exchange center, the most reliable ones are: