Ripple is a digital cryptocurrency which has showed a huge growth in 2017 and ranks third in the market capitalization of cryptocurrency. In case you are strictly following the innovations in digital currency development, you must have heard about ripple. If not, then the first thing to know about ripple is that it’s one of the trending cryptocurrencies of 2017. With some considerable features which differentiate it from other digital currencies, it has been accepted by ample of users.
What is ripple?
Ripple is a digital currency developed to revolutionize the banking and financial transactions. Ripple provides decentralized solutions for banks and different financial firms. Every second, 1000 ripple transactions occur. Ripple is not only a cryptocurrency, but also a payment network for transactions.
Ripple is expected to overcome issues like high transaction processing time, extra transaction fees, currency exchange issues and much more which are faced in bank transactions and payment through other gateways.
Team behind Ripple:
Opencoin, the company behind ripple cryptocurrency was founded by Chris Larsen and Jeb McCaleb. Both are designated at the positions of CEO and CTO of the company and have a good working experience with cryptocurrency. There are some well known investors like Google and Bitcoin opportunity fund who have invested in ripples.
What’s the difference between ripple and other currencies?
There are several differences between ripple and other cryptocurrencies. Though, ripple was designed to be a decentralized cryptocurrency, its functionality is more than just trading. Ripple can be used as a digital payment method and turn more beneficial than other payment methods. It has faster transaction speed than the top cryptocurrencies. In a second, here are 1000 transactions happening at a time. It is used for selling and purchase along with digital payments for financial institutes. Also, the number of ripples available for users is 100 million, quite more than other currencies.
All the cryptocurrencies trending nowadays have something unique and distinctive than the other currencies. Bitcoin is made to get a decentralized system in which the payments are done without any central administration. On the other hand, etherium is a platform which encourages smart cards and applications for IoT.
In this scenario, Ripple has become the currency with third highest market capitalization after bitcoins and etherium.
Basics of ripple
Number of ripples available:100 million ripples available for trading
Transactions per second:1000 transactions per minute
Worth of ripples:$0.430085
How do you get a ripple:There are platforms like Bitsmap, Kraken, GateHub, btcxIndia, Coinone, Bitso,Bitsane, Bitbank, KORBIT and other such online platforms.
Value and performance of ripple:
The economic value of ripple has been constantly increasing since its launch. The current market capitalization of Ripple is $30.7 billion which is quite high. If the currency manages to grow at the same speed, its capitalization can dominate the other currencies as well. Since 2012, its launch year, it has faced a gradual increase in its value while since last year, it has actually geared up.
What are the advantages of choosing ripple?
1. Its acceptance by banks
It is one of the best options to choose as it is compatible with banks and other financial firms. Until and unless we have complete digital system for payments, we are bound to use banks and other payment gateways. In such cases, ripple has been accepted by dozen of banks which gives you safe investment option!
2. No transaction fees
While bitcoin charges the users for each transaction and that so very high, ripple comes with the benefit of no charges on transactions. In fact, the aim to develop ripple was to develop cryptocurrency and digital payment system which is almost free and doesn’t charge for transactions!
3. Highly economic
If you compare the rates of ripple with the other trending cryptocurrencies, you will get the difference! Ripples are available at a very low cost compared to the rivals and thus, are one of the options where people can invest a low amount and get high returns in the future.
4. Speedy transactions
Every transaction is desired to get complete fast. Speed is the ultimate need of future and this is a strong point of ripples. 1000 transactions every second is a great advantage for banking and all the digital financial transactions!
5. The third largest cryptocurrencyThere are 100 million ripples for users from all over the world. This is the third largest cryptocurrency in terms of value growth and market capitalization. The growth of this currency is expected to rise.
6. Wide acceptanceThere are 100 million ripples for users from all over the world. This is the third largest cryptocurrency in terms of value growth and market capitalization. The growth of this currency is expected to rise.
Should you invest in ripple?
There are multiple options in the world of cryptocurrencies if you are looking forward to invest. However, considering the aspects like price, worth, progress, investors, background and acceptance of ripples, it looks fair to invest in this cryptocurrency which is expected to change the face of digital payment system!